Future Demand of Aircraft Evacuation Market Technological Innovation and Emerging Trends of Outlook
Posted: Apr 27, 2019
Aircraft evacuation include special evacuation equipment that helps passengers and crew to safely evacuate from an aircraft during an emergency landing on ground, water, or mid-flight. Aircraft evacuation can be classified into personal safety equipment and collective safety equipment. Personal safety equipment consists of products, such as life vests, parachutes, ejection seats, survival suits, emergency floatation and safety gears, among others. Collective safety equipment consist of evacuation slides, rafts, and evacuation chute systems, among others.
The aircraft evacuation market is projected to grow from USD 1.30 Billion in 2017 to USD 1.73 Billion in 2022, at a CAGR of 5.96% during the forecast period. This growth can be attributed to the increasing aircraft orders due to rise in air passenger traffic across the globe. Increase in aircraft orders is one of the key factors driving the aircraft evacuation market. Passenger traffic has been growing at a high rate in emerging countries, such as India and China. PDF
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Growing consumer and business confidence, low interest rates, and favorable government policies are the key factors for this surge in demand for aircraft. In addition, rise of new commercial aircraft manufacturers in regions of Latin America and Asia-Pacific has led to an increase in demand for aircraft evacuation. Though robust consumer spending in emerging economies will facilitate the demand for aircraft, factors, such as aircraft backlogs, political stability, and weakening currencies are expected to restrain this demand for aircraft, which could adversely impact the aircraft evacuation market.
Key players operating in the aircraft evacuation market are UTC Aerospace Systems (U.S.), Zodiac Aerospace (France), EAM Worldwide (U.S.), Martin-Baker (U.K.), Npp Zvezda Pao (Russia), Trelleborg AG (Sweden), GKN Aerospace Services Limited (U.K.), Cobham Plc (U.K.), and DART Aerospace (Canada), among others. These companies have well-equipped manufacturing facilities and strong distribution network across North America, Europe, and Asia-Pacific.
Contracts and partnerships were the key growth strategies adopted by the key players to strengthen their position in the aircraft evacuation market. These players are focusing on increasing investments in R&D, and developing strong relationships with government and civil agencies to gain competitive edge.
The UTC Aerospace Systems (U.S.) is one of the leading companies in the aircraft evacuation market. The company has a strong presence in North America and Europe, besides catering to the Asia-Pacific region. It has also formed various joint ventures and entered into partnerships to cater to North America, Europe, and Asia-Pacific aircraft evacuation market. In 2016, the UTC Aerospace Systems secured a contract worth USD 14.4 million from B-2 Spirit, the U.S. sole heavy stealth bomber for the upgraded ejection seats.
Zodiac Aerospace is the second leading company in the aircraft evacuation market. It has a wide distribution channel in France, the U.S., and Mexico, and maintains a strong presence in Europe and North America. The company has a very good breadth of offerings, and delivery & support, and excellent product distribution. In 2014, Zodiac Aerospace secured a contract from Lufthansa for the supply of 170 evacuation slides for its Airbus A320 and 100,000 lifejackets.
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