ID: MRFR/A&D/5596-HCR | February 2021 | Region: Global | 121 pages
An aircraft evacuation system includes evacuation equipment that enables emergency evacuation from an aircraft that could take place on the ground or in water. The equipment used for evacuation includes evacuation life rafts, slides (including slide rafts), system (especially for rotary wing aircraft), personal floatation devices (life vests, inflatable armbands, and other components), and ejection seats.
Factors such as stringent air safety regulations and growing focus on enhancing passenger safety are the key factors boosting the market growth. The aircraft evacuation system market encompasses players from different parameters of the value chain, including manufacturers and component suppliers such as UTC Aerospace, Safran, Cobham plc, and Trelleborg AB. It also includes players that provide maintenance support for this equipment.
An increase in global passenger traffic, demand for new commercial aircraft, and rise in defense expenditure, primarily, in developing countries are factors that positively impact the aircraft evacuation systems market growth. In addition, safety drills, periodic inspections, and mandates by various organizations such as the Federal Aviation Administration and National Transportation Safety Board, regarding aviation safety, further drive market growth. However, factors such as injuries related to ejection and evacuation, and existing backlogs of aircraft deliveries are expected to hinder the market growth. Emerging aircraft OEMs in Asia-Pacific and Latin America and the development of technology such as sensing devices and lightweight fabric for these life-saving systems create growth opportunities for the global aircraft evacuation systems market.
The global aircraft evacuation systems market is segmented based on equipment type, aircraft type, fit, application, and region.
Based on equipment type, the global aircraft evacuation systems market is segmented as evacuation slides, emergency floatation systems, life rafts, personal floatation devices, and ejection seats. In 2018, evacuation slides segment accounted for the largest market share owing to its prerequisite in all commercial aircraft.
Based on aircraft type, the global aircraft evacuation systems market is divided into fixed-wing and rotary-wing. In 2018, the fixed-wing segment accounted for the largest market share due to an increase in the production of narrow and wide-body aircraft to cater to the increase in air travelers across the globe.
Based on application, the global market is bifurcated into commercial and military. In 2018, commercial segment accounted for the largest market share as these devices are critical towards ensuring passenger safety.
Based on fit, the global aircraft evacuation systems market is divided into line-fit and retrofit. The line-fit segment held the largest market share in 2018, due to the long product lifecycle of evacuation systems.
Segmentation of the Global Aircraft Evacuation Systems Market
Based on region, the global aircraft evacuation systems market has been segmented into four regions, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America held the largest market share in 2018 owing to the presence of key commercial and military aircraft OEMs. Furthermore, the growing need for lightweight evacuation systems and the development of advanced technologies by companies in the US and Canada are expected to contribute significantly towards high demand for aircraft evacuation systems in North America. The global aircraft evacuation systems market is estimated to register a CAGR of more than 5% during the forecast period, 2018 to 2025.
The key players in the global aircraft evacuation systems market are DART Aerospace (Canada), EAM Worldwide (US), Martin-Baker Aircraft Co. Ltd. (UK), NPP Zvezda, AO (Russia), Safran S.A. (France), Survival Equipment Services Ltd. (UK), Switlik Inc. (US), The MEL Group (UK), Tulmar Safety Systems Inc. (Canada), and UTC Aerospace Systems (US).
The market values and forecasts are derived using MRFR research methodology, which includes secondary research, primary interviews, data triangulation, and validation from an in-house data repository and statistical modeling tools.
In this process, data is collected from various secondary sources, including annual reports, SEC filings, journals, government associations, aerospace & defense magazines, white papers, corporate presentations, company websites, and paid databases.
In this process, both the demand- and supply-side parties are interviewed to extract facts and insights into the market forecast, production, trends, and projected market growth. Industry stakeholders such as CEOs, VPs, directors, and marketing executives across the value chain are approached to obtain key information.
Market Sizing, Forecast, and Analysis: Detailed coverage of the market segment and sub-segments
Regional/Country Trends and Forecast: Detailed analysis of the market in North America, Asia-Pacific, Europe, the Middle East & Africa, and Latin America, along with key countries in each region
Market Dynamics Intelligence: Market drivers, opportunities, trends, restraints, Porter’s five forces, supply chain, and value chain analysis
Technology Trends, Regulatory Landscape, and Patent Analysis Outlook
Competitive Intelligence: Market share analysis, financial analysis, product benchmarking, and strategic developments including joint ventures, product launches, and mergers & acquisitions
Regional attractiveness and related growth opportunities
MRFR offers report customization to valued customers. Below are the options available for customization:
In-depth profiling of additional market players (3 to 4 companies)
Detailed analysis of a country-level market and related segments as per the report scope (subject to data availability)
Frequently Asked Questions (FAQ) :
Aircraft evacuation system market can expand at 15% CAGR by 2023.
By 2023, the aircraft evacuation system market value can garner substantial revenue.
EAM Worldwide (US), NPP Zvezda, AO (Russia), and Martin-Baker Aircraft Co. Ltd. (UK) are some reputed names in the aircraft evacuation system market.
Rise in demand for fixed-wing solutions to promote the aircraft evacuation system market.
The sudden slow-down of aviation sector can hinder the aircraft evacuation system market.