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(MoneyNewsWire.Net, March 12, 2018 ) The aircraft evacuation market is projected to grow from USD 1.30 Billion in 2017 to USD 1.73 Billion by 2022, at a CAGR of 5.96% during the forecast period. Increase in situational awareness to drive operations and rise in demand for real-time analytics are the key factors that are expected to drive the aircraft evacuation market. The market has been segmented based on aircraft type, equipment type, fit, and region.
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Based on aircraft type, the aircraft evacuation market have been segmented into narrow body aircraft, wide body aircraft, very large aircraft, regional transport aircraft, business jet, helicopter, and fighter jet. Based on aircraft type, the narrow body aircraft segment is expected to lead the aircraft evacuation market in 2017, and is expected to continue its dominance during the forecast period. According to Boeing’s Current Market Outlook 2017, the global fleet size of narrow body aircraft is 14,870, which is anticipated to reach 32,280 aircraft by 2035. Asia and North America have the largest fleet of narrow body aircraft with 4,540 and 4,010 aircraft, respectively. Increase in demand for narrow body aircraft globally is driving the aircraft evacuation market.
Based on equipment type, the aircraft evacuation market has been segmented into life vest, evacuation slide, ejection seat, evacuation raft, and emergency flotation. The evacuation slide segment is anticipated to grow at the highest CAGR form 2017 to 2022. As the adoption rate of evacuation slides is 100% in all commercial passenger aircraft coupled with increased demand for new aircraft, the evacuation slide segment is projected to lead the aircraft evacuation market.
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The civil aviation industry across the globe has witnessed strong growth in recent years, driven by factors, such as increase in air travel, rise in disposable income, and growth in international tourism, among others.
The aircraft evacuation market has been segmented and analyzed on the basis of fit into retrofit and linefit. The linefit segment led the overall aircraft evacuation market, and is expected to exhibit a similar trend during the forecast period. The linefit segment is increasing continuously due the demand generated by new aircraft orders globally.
The aircraft evacuation market has been studied for North America, Europe, Asia-Pacific, and the Rest of the World. North America is estimated to lead the global aircraft evacuation market in 2017. The aviation industry is one of the most profitable industries in North America, with major aircraft manufacturers, such as Boeing (U.S.), Bombardier (Canada), Lockheed Martin (U.S.), Bell Helicopter (U.S.), and Sikorsky Aircraft (U.S.) present in the region. These manufacturers help generate the demand for aircraft evacuation. Airlines are also playing a significant role in generating the demand for aircraft evacuation through retrofit. North America is expected to continue its dominance during the forecast period.
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Authorization from FAA and local aviation regulatory bodies is one the factors restraining the growth of the aircraft evacuation market. Products offered by various companies operating in the aircraft evacuation market have been listed in this report. Recent developments and contract in the report include essential products developed and contracts undertaken by various companies. Major players in the aircraft evacuation market are Zodiac Aerospace (France), Martin-Baker (U.K.), UTC Aerospace Systems (U.S.), EAM Worldwide (U.S.), NPP Zvezda Pao (Russia), Trelleborg AG (Sweden), and GKN Aerospace Service Limited (U.K.), among others.
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