Aircraft Evacuation Systems Market: Overview
The aircraft evacuation system is a piece of safety equipment and is used at the time of critical conditions to quickly and safely evacuate the passengers. With these evacuation systems slides attached can automatically inflate and unfold when the emergency exit is opened and can be found on these types of aircrafts such as military aircraft, commercial aircraft, and civil aircraft.
The regional government also imposed strict regulations to install aircraft evacuation systems, if the evacuation gate’s height is more than 6 feet from the ground. Therefore, the leading installer of OEMs are also installing aircraft evacuation systems in existing aircraft’s fleet which can be termed as a retrofit. Moreover, the aircraft evacuation systems are assembly of escape path light, life raft, and evacuation slides.
An increasing number of aircraft accidents and fatalities are also promising the demand for passenger safety and rescue systems. In 2019, nearly 231 fatalities happened at the time of aircraft landing or fighting, across the world.
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Aircraft Evacuation Systems Market: Dynamics
Research and development centres are investing hefty money for cabin safety research & technology (R&T) product development to improve product quality in terms of crashworthiness and fire safety.
Furthermore, strict regulations such as Federal Aviation Administration and European Union Aviation Safety Agency, on the newly manufactured aircraft as well as existing aircraft to install aircraft evacuation systems if the floor height is more than 1.8 meter which in turn is spurring the new sales of aircraft evacuation system over the coming decade.
Moreover, growing demand for the new generation safety technology and minimum risk to evacuate passengers in a faster way is anticipated to drive the demand for aircraft evacuation systems market during the stipulated period.
High installing cost, rapid technological developments, and among others are projected to hamper the global market in the coming decades.
Rising focus on the lightweight lifesaving system and the growing buzz of digital technology to automatically open the evacuation system is considered as trend in the global aircraft evacuation system.
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Aircraft Evacuation Systems Market: Segmentation
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Aircraft Evacuation Systems Market: Regional Outlook
Asia Pacific region is projected to create a healthy demand for aircraft evacuation system markets owing to the rising fleet of commercial aircraft over the last ten years. Also, Australia, New Zealand, and Singapore are pegged as emerging countries in the region as a subsequence of the growing number of aircraft production, which in turn is expected to accelerate the demand for aircraft evacuation system market during the forecast period.
North America and Europe are followed by the Asia Pacific in terms of aircraft production. In Europe, around 1,500 new units produced while in North America around 1,800 new units produced in 2018. Therefore, in terms of fleet, North America is the most opportunistic region for stockholders in global aircraft evacuation systems market because the region is projected to account for nearly 37% in worldwide production.
Although, the Middle East & Africa has relatively less buzz on the global aircraft evacuation systems market even though rising demand form the commercial sector will push the sales pushing the sales of aircraft evacuation systems over the stipulated period.
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Aircraft Evacuation Systems Market: Key Participants
Some of the market participants in the Aircraft Evacuation Systems market identified across the value chain:
- Collins Aerospace
- Safran
- Zodiac Aerospace
- Switlik Parachute Company, Inc.
- ASTRONICS CORPORATION
- UTC Aerospace Systems
- Cobham plc.
- EAM Worldwide
- MartinBaker Aircraft Co. Ltd
- The MEL Group
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