Overview

Aircraft Evacuation Market value over USD 3.2 billion by 2029 end and register a CAGR of over 5.4% from 2020 to 2029.

Aircraft evacuation is referred to an emergency evacuation from an aircraft which may take in water, on the ground, or even mid-flight depending on the situation. Special evacuation equipments are utilised under some standard evacuation procedures in order to ensure a safe evacuation from the aircraft.

An increasing demand for new airplanes coupled with numerous safety drills, periodic inspections, emergency landings and unintentional slide deployments are instrumental factors responsible for the proliferation of the market.

In order to enhance passenger safety, governments worldwide are creating stringent regulations for airline operators to equip their airplanes with the latest safety technologies. For instance, Federal Aviation Administration (FAA) manifested the installation of new escape slides in over 300 Boeing 767 jetliner aircrafts in December 2015 so as to improve passenger safety. Such initiatives can prove fruitful for the augmentation of the market.

The soaring demand for aircrafts from multiple aircraft operator is poised to assist the market in augmenting remarkably over the forecast period. For instance, the Indian Air Force initiated a program of purchasing around 110 military fighter jets based on the request for information (RFI) contract from big companies like Dassault Aviation, Boeing, Lockheed Martin Corp. thus assisting in the proliferation of the market.

For installing such advanced safety features, the flight crew needs to be trained extensively which is an expensive affair thus hampering the market growth. Furthermore, an existing aircraft delivery backlog and long product lifecycle of evacuation slides are some factors that may impede market growth significantly.

Product-wise, the escape slide segment is estimated to showcase significant growth over the forecast period. Efficient operations and superior durability of the system are some factors that provide a positive outlook for the growth of market. Furthermore, evacuation raft segment shall account for a significant market share over the forecast period. Factors such as fleet modernization coupled with restoration and upgradation activities of air carrier fleets that are presently functioning prove to be integral in the augmentation of the market.

Based on the type of platform, the fixed wing segment dominates the market due to a soaring demand for aircrafts worldwide. Airbus and Boeing have increased their production in order to meet previous backlogs. Boeing announced to increase the production of 737 aircrafts in 2018. Such a demand for aircrafts shall augment the fixed wing segment remarkably.

Major firms influencing the market are UTC Aerospace Systems, Zodiac Aerospace, EAM Worldwide, Cobham PLC., Trelleborg AB, GKN Aerospace Services Limited, DART Aerospace, Mustang Survival, Survival Equipment Services Ltd., and Martin-Baker among others.

Aircraft Evacuation Market Segmentation:

By Equipment Type

● Life Vest

● Evacuation Slide

● Ejection Seat

● Evacuation Raft

● Emergency Flotation

By Aircraft Type

● Narrow Body Aircraft

● Wide-Body Aircraft

● Very Large Aircraft

● Business Jet

● Regional Transport Aircraft

● Fighter Jet

● Helicopter

By Fit

● Line fit

● Retrofit

By Region

● North America

● Europe

● Asia Pacific

● Latin America

● Rest of the World

Competitive Landscape:

● Tier 1 players- established companies in the market with a major market share

● Tier 2 players

● Emerging players which are growing rapidly

● New Entrants

FutureWise Takeaways

● Growth prospects

● SWOT analysis

● Key trends

● Key data points affecting market growth

Objectives of the Study:

● To provide an exhaustive analysis on the aircraft evacuation market by equipment type, by aircraft type, by fit and by region

● To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)

● To evaluate and forecast micro-markets and the overall market

● To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world

● To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions

● Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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