Aircraft Evacuation industry is anticipated to grow the market value at a CAGR of more than 5% for the assessment period of 2020 to 2030.
The Global Aircraft Evacuation Market has been segmented based on equipment type, aircraft type, application, fit, and region.
Based on fit, the aircraft Evacuation industry is divided into line-fit and retrofit. The line-fit segment is estimated to account for the largest market share and is projected to witness a higher CAGR during the forecast period. This is due to the rapid procurement of both commercial and combat aircraft throughout the world to meet the growing passenger traffic and enhancing defense capabilities respectively.
The key players in the global aircraft Evacuation industry 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).
Based on equipment type, the aircraft Evacuation industry is divided into evacuation slides, life rafts, emergency floatation system, personal floatation devices and ejection seat. The evacuation slides segment is estimated to account for the largest market share and is projected to witness the highest CAGR during the forecast period. The evacuation slides are prerequisite for all commercial aircraft and plays a vital during emergency evacuation in both ground and water. Some slides can even be transformed into rafts.
Based on aircraft type, the aircraft Evacuation Market is divided into fixed wing and rotary wing. The fixed segment is estimated to account for the largest market share while the rotary wing segment is projected to witness a higher CAGR during the forecast period. The rotary wing aircraft are highly maneuverable and are used navigate in tough terrains. This necessitates an effective evacuation system during rough landings and survivable crashes.
Based on application, the aircraft Evacuation industry is divided into commercial and military. The commercial segment is estimated to account for the largest market share and is projected to witness a higher CAGR during the forecast period. According to Boeing’s Current Market Outlook 2018, the global fleet size of commercial aircraft is anticipated to reach 42,730 aircraft by 2037. Increasing demand for commercial aircraft globally is positively influencing the aircraft evacuation market.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, Rest of the World. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increase in indigenous combat and commercial aircraft production in the Asia Pacific region. China, India, and Japan are key markets for aircraft evacuation systems in this region.
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Aircraft Evacuation industry Research Report: Information by Fit (Line-fit and Retrofit), Equipment Type (Evacuation Slides, Life Rafts, Emergency Floatation System, Personal Floatation Devices and Ejection Seat), Aircraft Type (Fixed Wing and Rotary Wing) and Region (North America, Asia-Pacific, Europe, the Middle East & Africa and Latin America) - Global Forecast till 2027
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