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Aircraft Evacuation Market for OEM Segment is Predicted to Accounted Significant Share By 2025

Author : Ronak Bora | Published Date : 2019-06-11 

Stringent government regulations for passenger safety will drive the aircraft evacuation market over forecast period. 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.

Increasing air traffic across the globe coupled with increasing requirement for air passenger safety are among the major factors driving the aircraft evacuation market growth over the forecast timeframe. For instance, according to the World Bank, the total number of passengers travelling through airplanes increased by over 7.0% in 2017 compared to 2016.

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Proliferating upgradation of existing aircrafts and development of next-generation light weight aircrafts are positively influencing the aircraft evacuation market growth till 2025. The National Aeronautics and Space Administration (NASA) in association with several researchers are focused on the development of advanced aircrafts including improved aircraft safety equipment, innovative aircraft material, and enhanced propulsion technologies, thereby improving aerodynamics and safety considerably.

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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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.

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.

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Fixed wing holds a major revenue share in the aircraft evacuation market place owing 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.

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.

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.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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