April 27, 2020
As per the report titled ‘Aircraft Evacuation Market Size By Product, By Platform, By Distribution Channel Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025’ available with Market Study Report LLC, global aircraft evacuation market is anticipated to register a strong CAGR during 2019-2025.
Rising air traffic along with growing need for air passenger safety are driving the growth of global aircraft evacuation market. According to the World Bank, the total number of air passengers increased by 7.0% in 2017 as compared to 2016. Moreover, increasing military expenditure and global tourism are boosting the growth of aircraft evacuation market.
Ongoing upgradation of existing aircrafts and development of next-generation light weight aircrafts are positively impacting the market growth. Furthermore, technological advancements such as automatic inflation systems, water activated sea light, and fitted spray hoods will propel the market share over the forecast timeline.
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Development of airport infrastructure coupled with introduction of low-cost carriers is favoring the expansion of the market. Growing focus towards regional connectivity and establishment of new airports in emerging nations will serve as a major impetus for aircraft evacuation industry.
Aircraft manufacturers are signing strategic agreements for developing new fighter jets. Citing an instance, in April 2018, Airbus and Dassault Aviation collaborated to jointly develop and manufacture next-generation European combat fighter jets. Rising aircraft backlogs from major aircraft manufacturers including Boeing and Airbus is rendering a positive impact on the market outlook. For instance, in 2018, Airbus stated that it had an order backlog of 7,577 aircrafts.
As per the type, escape slides segment is expected to see considerable growth during the study period, owing to implementation of advanced solutions such as next-gen white led lights for providing maximum visibility in night. Use of innovative fabric integrated with radiant heat resistant technologies to enhance system operation is boosting the segment growth.
Based on the platform, fixed wing segment holds significant revenue share due to product’s diversified applications in commercial, regional, and military aircraft. Lower manufacturing cost, reduced weight, and fully interlocked system are some key advancements stimulating the segment growth.
Elaborating on the distribution channel, OEM segment is anticipated to see a sizeable growth in the forthcoming years. Proliferating aircraft demand from across the globe in tandem with rapidly growing tourism sector and availability of low-cost carriers are contributing to the segment share.
Considering the geographical landscape, Asia Pacific aircraft evacuation market is reckoned to display strong growth trends over the forecast timeframe. International Air Transport Association (IATA) estimates that APAC will have 3.5 billion air passengers by the year 2036. Increasing air travel and sustaining investments in aerospace & aviation sector are supporting the growth of aircraft evacuation market in APAC.
Prominent players of global aircraft evacuation industry are EAM Worldwide, Martin-Baker Aircraft Co. Ltd, Zodiac Aerospace, Dart Aerospace, Survitec Group Limited, Survival Equipment Services, Switlik, NPP Zvezda, and Trelleborg.
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