Aircraft Evacuation Systems Market Scenario:
The Global Aircraft Evacuation Systems Market has been segmented by equipment type, aircraft type, fit, application and region. Based on equipment type, the Aircraft Evacuation Systems Market is divided into evacuation slides, life rafts, emergency floatation system, personal floatation devices and ejection seat.
In 2017, the evacuation slides segment accounted for the largest market share as it is a prerequisite in all commercial aircraft. Based on aircraft type, the Aircraft Evacuation Systems Market is divided into fixed wing and rotary wing. In 2017, the fixed wing segment accounted for the largest market share owing to the increase in production and procurement of narrow and wide body aircraft in order to cater to the rise in number of air travelers globally.
Based on application, the Aircraft Evacuation Systems Market is divided into commercial and military. In 2017, the commercial segment accounted for the largest market share as these devices are critical in ensuring passenger safety. Based on fit, the Aircraft Evacuation Systems Market is divided into line-fit and retrofit. In 2017, the line-fit segment accounted for the largest market share owing to the long product lifecycle of evacuation systems.
The Global Aircraft Evacuation Systems Market has also been segmented into four regions, namely, North America, Europe, Asia-Pacific, and Rest of the World. North America is estimated to account for the largest share during the review period owing to the presence of major commercial as well as combat aircraft OEMs.
Furthermore, increasing focus on developing advanced technologies and lightweight evacuation systems by companies in the US and Canada are contributing to the high demand for aircraft evacuation systems in the North America. The Global Aircraft Evacuation Systems Market is estimated to register a CAGR of more than 5% during the forecast period of 2018 to 2023.
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Aircraft evacuation system comprises special evacuation equipment which aids in emergency evacuation from an aircraft that could take place either on the ground, in water, or mid-flight. The equipment includes evacuation slides (including slide rafts), life rafts, emergency floatation system (especially for rotary wing aircraft), personal floatation devices (such as life vest, inflatable armbands and other components for passenger safety), and ejection seats (for combat aircraft). Parachutes are sometimes considered to be a part of this system.
Factors such as focus on enhancing passenger safety and stringent air safety regulations are the key factors driving market growth. The aircraft evacuation system market comprises players from different aspects of the value chain including manufacturers such as UTC Aerospace and Safran, and component providers such as Cobham and Trelleborg. It also encompasses other players that provide maintenance support for this equipment.
Rise in global passenger traffic and subsequent demand for new commercial aircraft, and rise in defense expenditure, especially, in developing countries and subsequent demand for new fighter jets are factors that positively influence Aircraft Evacuation Systems Market growth. In addition, periodic inspections, safety drills, and mandates by several organizations such as National Transportation Safety Board and Federal Aviation Administration, regarding aviation safety, further boosts market growth.
However, factors such as injuries associated with ejection and evacuation, and existing backlogs of aircraft deliveries hinders market growth. Meanwhile, emerging aircraft OEMs in Asia-Pacific and Latin America, and development of advanced technology such as lightweight fabric and sensing devices for these life-saving systems creates promising growth opportunities for the Aircraft Evacuation Systems Market.
Intended Audience:
- Aircraft Evacuation System Manufactures
- Aircraft OEMs
- Aircraft Ejection Seat OEMs
- Sub-Component Providers
- MROs
- Defense Contractors
- Research Institutes
- Regulatory Bodies
Key Players:
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 report on the Global Aircraft Evacuation Systems Market by Market Research Future covers extensive primary research. This is accompanied by a detailed analysis of the qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report offers a clear picture of the current market scenario, which includes the historical and forecast market size, in terms of value, and the technological, macroeconomic, and governing factors of the market. The report also provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
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