Overview and Scope
Aircraft evacuation refers to a sudden exit from an airplane on land, in the water, or mid-flight. Regular evacuation protocols and specific evacuation equipment are in place. This is usually done due to a fire hazard. It saves lives because having a clear evacuation strategy ensures that individuals are better prepared in the event of an explosion or other disaster.
Sizing and Forecast
The aircraft evacuation market size has grown strongly in recent years. It will grow from $1.59 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to stringent safety regulations, increased air travel, focus on passenger safety, airline industry competitiveness, global airline alliances.
The aircraft evacuation market size is expected to see strong growth in the next few years. It will grow to $2.15 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to rising air passenger traffic, innovations in evacuation systems, regulatory emphasis on evacuation standards, focus on accessibility, global collaboration on safety measures. Major trends in the forecast period include innovations in evacuation systems, integration of smart technologies, focus on lightweight and compact designs, enhanced training simulators, incorporation of evacuation technologies in aircraft design.
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Segmentation & Regional Insights
The aircraft evacuation market covered in this report is segmented –
1) By Equipment Type: Life Vest, Evacuation Slide And Raft, Ejection Seat, Emergency Floatation
2) By Fit: Line Fit, Retrofit
3) By Aircraft Type: Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Business Jet, Regional Transport Aircraft, Fighter Jet, Helicopter
North America was the largest region in the aircraft evacuation market in 2023. The regions covered in the aircraft evacuation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing air passenger traffic is expected to boost the growth of the aircraft evacuation market going forward. Air passenger traffic is referred to a person or business involved primarily in the transportation of people by aircraft in interstate commerce. Air passengers’ traffic assist in the aircraft evacuation market because evacuation devices and processes save passengers’ lives while flying. For instance, in March 2022, according to the International Air Transport Association (IATA), a Canada-based association that supports airline activity and helps formulate industry policy and standards, there will be 4.0 billion air passengers worldwide in 2024 (including multi-sector connecting flights as one passenger), reaching pre-COVID-19 levels (103% of the amount for 2019). The total number of travelers in 2021 was 47% higher, and in 2022, 83% higher. Therefore, the increasing air passenger traffic is driving the growth of the aircraft evacuation market.
Key Industry Players
Major companies operating in the aircraft evacuation market report are EAM Worldwide, Martin-Baker Aircraft Co Ltd., Trelleborg AB, GKN Aerospace Services Limited, Cobham Limited, Dart Aerospace, Survival Equipment Services Ltd., Zodiac Aerospace SA, United Technologies Corporation Pratt & Whitney division, NPP Zvezda, Astronics Corporation, Safran SA, Tulmar Safety Systems, Rockwell Automation Inc., Japan Aircraft Manufacturing Co Ltd., Mustang Survival Corp., Goodrich Corporation, Switlik Parachute Company Inc., Ejection Tie Club, Esterline Corporation, LMS Technologies, Sogerma SAS, Air Cruisers Company, Norsafe AS, Aviation Survival Technologies, Beacon Falls Rubber Company, Bendix Commercial Vehicle Systems LLC, Boeing Defense Space & Security, Collins Aerospace, Eagle Parachute Systems, Hamilton Sundstrand, Honeywell Aerospace, Leach International, Meggitt Aerospace
The aircraft evacuation market report table of contents includes:
1. Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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