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Aircraft Evacuation Market for Aftermarket segment to grow at over 6.5% CAGR over the study timeframe

Author : Ronak Bora | Published Date : 2019-03-14 

Aircraft Evacuation Market for Fixed wing holds a major revenue share due to proliferating fixed wing fleet size due to its diversified applications in commercial, regional, and military aircraft. For instance, according to the Boeing, the total fixed wing fleet size accounted for 24,400 units in 2017 and is expected to increase by over 48,500 in 2037. Reduced overall manufacturing cost, lower weight, and fully interlocked system are some of the major technological advancements, that are positively influencing the market expansion till 2025.

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Increasing demand for regional connectivity and establishment of new airports in emerging economies are the major drivers propelling the aircraft evacuation market share over the forecast period. Increasing aircraft backlogs from major aircraft manufacturers including Boeing and Airbus are providing a positive outlook for the industry expansion. For instance, in 2018, Airbus announced an order backlog of 7,577 aircrafts.

Industry participants are engaged in offering innovative production solutions. For instance, Martin Baker utilizes the innovative DMG Mori Technology for producing the aircraft ejector seats, that improved the overall system efficiency significantly. Additionally, joint ventures and partnerships are among the major factors driving the market share. For instance, in January 2016, Safran entered into a strategic collaboration with Rafale to develop innovative ejection seats for combat jets, thereby contributing positively towards the aircraft evacuation market place proliferation till 2025.

Escape slides accounted for a significant share owing to the advancements including incorporation of next-generation white led lights for providing maximum visibility during night usage. Moreover, incorporation of advanced fabric including advanced radiant heat resistant technologies for improving the system operation is expanding the segment share.

OEM accounted for a significant volume share owing to rising aircraft demand across the globe. Expanding tourism sector along with proliferation of low-cost carriers are positively influencing the aircraft evacuation market share over the forecast timeframe. Rising concerns regarding aircraft safety are enabling industry participants to continuously invest in R&D for developing advanced evacuation systems. For instance, in 2018, Lufthansa Technik and EAM Worldwide collaborated to manufacture advanced escape slides with certification from the Federal Aviation Administration.

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Asia Pacific will witness a significant growth rate in the aircraft evacuation market place over the forecast timeframe. This is attributed to the increasing air travel coupled with investments in aviation industry across the region. International Air Transport Association (IATA) estimates that the region will have around 3.5 billion passengers by 2036.

Development of airport infrastructure along with introduction of low-cost carriers are providing a positive outlook for industry expansion. Further, ongoing technological advancements such as water activated sea light, automatic inflation systems, and fitted spray hoods are some of the major factors expanding the aircraft evacuation market growth till 2025.

Proliferating military expenditure and tourism growth across the globe are positively escalating the aircraft evacuation market expansion till 2025. Moreover, aircraft manufacturers across the region are entering into strategic agreements for developing newer fighter jets. For instance, in April 2018, Airbus and Dassault Aviation entered into a strategic agreement to jointly develop and manufacture next-generation European combat fighter jet, thereby providing a positive outlook for the industry expansion.

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Prominent participants in the aircraft evacuation market share include Martin-Baker Aircraft Co. Ltd, EAM Worldwide, Zodiac Aerospace, Survitec Group Limited, Dart Aerospace, Survival Equipment Services, NPP Zvezda, Switlik, and Trelleborg. Mergers & acquisitions and joint ventures are among the major strategies adopted by industry players to expand their market share. For instance, in November 2018, Safran announced the acquisition of Zodiac Aerospace to expand its aircraft equipment activities. This enabled company to enhance its product portfolio and contribute significantly towards revenue generation.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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