According to a new market research report published by Credence Research “Aircraft Evacuation Equipment Market (By Aircraft Type: Commercial Aircraft, Private Aircraft, Military Aircraft and Helicopters; By Equipment: Life Vests, Evacuation Slides, Ejection Seats, Evacuation Rafts and Emergency Floatation; By Fit: Line Fit and Retrofit) – Growth, Future Prospects, and Competitive Landscape, 2017-2025”, aircraft evacuation equipment market was valued at US$ 1.28 Bn in 2016 and is estimated to grow at a CAGR of 6.2% from 2017 to 2025.
A tremendous rise in the global aviation industry has been observed from the past few decades. Continuously growing number of passengers and goods transportation have significantly boosted the demand for aircrafts for both commercial and cargo transportation. This has been one of the most significant drivers promoting the demand for aircraft evacuation equipment.
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Aircraft evacuation equipment has become an essential and inseparable part in all types of aircrafts. Airline companies have been paying special attention towards the implementation and up gradation of aircraft evacuation equipment in order to prevent casualties in unfavorable conditions. In addition, government and aviation organizations have issued mandates and laid guidelines for mandatory installation of aircraft evacuation equipment in almost all aircrafts. Consequently, the requirement for aircraft evacuation equipment has significantly increased along with aviation industries in the past few years and expected to grow even further in the following years.
Besides commercial aircrafts, aircraft evacuation equipment is also implemented in various private aircrafts, militarty aircrafts and helicopters. The importance of aircrafts for defense applications has been on significant rise and is expected to bolster the overall demand for aircraft evacuation equipment such as life vests and ejection seats, among others. Many aircraft evacuation equipment companies are spending fortunes in order to improve their existing equipment. Modern day aircraft evacuation equipment offer much more reliability and safety and are expected to improve even further with the technological advacnemnt and inventments on the same. Owing to the aforementioned factors, the overall market for aircraft evacuation equipment is expected to demonstrate a consistent growth throughout the forecast period from 2017 to 2025.
Aircraft evacuation equipment market is well-established with a number of international players operating in the market. Companies have been actively working towards developing better and reliable aircraft evacauation devices and life saving equipment. Manufacturers have been engaged in forming strategic alliances and partnership to acquire contracts from major airline companies and government organizations to provide aircraft evacuation equipment. Major players in the market include Dart Aerospace, Switlik Parachute Company, Inc., UTC Aerospace Systems, EAM Worldwide, GKN Aerospace Services Limited, NPP Zvezda PAO, Zodiac Aerospace, Mustang Survival, Survival Equipment Services Ltd., Martin-Baker, Trelleborg AB and Cobham PLC.
- Growing aviation industry and air transportation across different countries
- Strategic alliances of aircraft evacuation equipment manufacturers with the airlines and government organizations to provide better aircraft evacuation equipment