Aircraft Evacuation Market to Reach USD 4.29 Billion by 2032; Stringent Safety Regulations & Collaboration with Airlines and OEMs to Propel Growth
The global aircraft evacuation market is anticipated to grow from USD 2.31 billion to USD 4.29 billion in 10 years. The market experiences growth driven by increasing demand for advanced emergency response systems, a surge in the commercial aircraft segment, and the heightened need for new aeroplanes, accompanied by a growing emphasis on safety drills. The expanding global count of air passengers and the increasing disposable income further fuel the market growth.
Newark, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 2.31 billion in 2022 global aircraft evacuation market will reach USD 4.29 billion by 2032. Incorporating smart technologies, such as sensors, IoT (Internet of Things) devices, and connectivity solutions into evacuation systems presents an opportunity. Smart technologies can enhance real-time monitoring, provide data analytics for predictive maintenance, and improve overall system efficiency. Furthermore, the use of advanced materials, such as composites and lightweight alloys, can contribute to the development of evacuation systems that are not only robust but also lightweight. This aspect can enhance fuel efficiency and overall aircraft performance. Additionally, with a growing emphasis on sustainability in the aviation industry, there's an opportunity to develop environmentally friendly and sustainable evacuation systems. Manufacturers can explore eco-friendly materials, energy-efficient designs, and recyclable components. In addition, as urban air mobility (UAM) becomes a reality, there's an opportunity to develop evacuation systems specifically tailored for vertical takeoff and landing (VTOL) and electric aircraft. Customized solutions for these emerging aircraft types will be in demand. Adopting advanced VR and AR technologies for training also presents an opportunity. VR simulations can provide realistic training scenarios for cabin crew members, improving their readiness for emergencies.*Download Report Sample (230+ Pages PDF with Insights) at: https://www.thebrainyinsights.com/enquiry/sample-request/13947**Key Insight of the global Aircraft Evacuation market**Asia Pacific is expected to witness the highest market growth over the forecast period.*The Asia Pacific has been experiencing a rise in air travel demand due to rising disposable income, urbanization, and an expanding middle class. As more people in the region choose air travel, there is a corresponding need for increased safety measures, including advanced aircraft evacuation systems. Many countries in the Asia Pacific are funding heavily in the expansion and evolution of their aviation infrastructure. New airports, runways, and terminals are being developed to accommodate the rising count of aeroplanes and passengers, driving the demand for aircraft evacuation systems. In addition, airlines in the Asia Pacific are expanding their fleets to meet the growing need for air travel. Introducing new aircraft generally includes incorporating the latest safety technologies, including advanced evacuation systems. Furthermore, governments in the Asia Pacific region recognize the importance of aviation safety and are actively enhancing safety standards. This focus creates opportunities for the aircraft evacuation market to provide cutting-edge safety solutions in compliance with international standards. Additionally, as air travel becomes more prevalent in the Asia Pacific, there is an increasing awareness of the importance of safety among passengers and regulatory authorities. Thus, heightened awareness increases the demand for advanced and efficient aircraft evacuation systems. Emerging economies in the Asia Pacific region, along with the presence of several airline start-ups, further create a conducive environment for adopting modern aviation technologies. New entrants in the market often prioritize the latest safety features, including advanced evacuation systems.*In 2022, the evacuation slide segment held the largest market share at 42.13% and a market revenue of 0.97 billion.*The equipment type segment is divided into ejection seat, emergency flotation system, evacuation raft, evacuation slide and life vest. In 2022, the evacuation slide segment held the largest market share at 42.13% and a market revenue of 0.97 billion.*In 2022, the narrow body aircraft segment dominated the market with the largest share of 32.19% and revenue of 0.74 billion.*The aircraft type segment includes narrow body aircraft, wide body aircraft, very large aircraft, regional transport, aircraft, business jet, helicopter and fighter jet. In 2022, the narrow body aircraft segment dominated the market with the largest share of 32.19% and revenue of 0.74 billion.*In 2022, the linefit segment dominated the market with the largest share of 62.84% and revenue of 1.45 billion.*The fit segment is split into linefit and retrofit. In 2022, the linefit segment dominated the market with the largest share of 62.84% and revenue of 1.45 billion.*Advancement in market*In January 2023: United Technologies Corporation (UTC) has unveiled its new Inflight Training Centre in Texas (Houston), USA. The facility spans 56,000 square feet and encompasses updated classrooms, door trainers, an additional cabin, and an aquatic centre with a huge pool (125,000 gallons). The Inflight Training Centre also features dedicated inflight service training spaces, mock seats, an auditorium accommodating over 400 seats, and a public address room for rehearsing onboard announcements. Furthermore, the centre includes a mock fuselage for aircraft evacuation drills.In January 2022: Collins Aerospace, a division of RTX Corporation, has secured its initial support agreement for evacuation slides with Spairliners, an independent aftermarket service provider specializing in E-Jet aircraft family support. Collins will deliver comprehensive testing and inspection services for evacuation systems and repair, modification, and replacement services as part of this agreement.*Report Attribute Details**Report Attribute* *Details*
Revenue forecast in 2022 USD 2.31 Billion
Market size value in 2032 USD 4.29 Billion
Expected CAGR Growth 6.39%
Base Year 2022
Forecast Year 2023 - 2032
Top Market Players Cobham PLC, Dart Aerospace, Collins Aerospace, EAM Worldwide, GKN Aerospace Services Limited, Martin-Baker, Mustang Survival, NPP Zvezda PAO, Survival Equipment Services Ltd., Switlik Parachute Company, Inc., Survitec Group Limited, Trelleborg AB, The MEL Group, TULMAR Safety Systems, Zodiac Aerospace
Segments Covered Equipment Type, Aircraft Type, and Fit
Customization Options Customized purchase options are available to meet any research needs. Explore customized purchase options
*Market Dynamics **Driver: The rising threat of terrorism and security concerns.*The global concern over terrorism and security threats has prompted a strategic shift within the aviation industry towards bolstering emergency response capabilities. This shift involves a twofold approach: substantial investments in advanced evacuation technologies to enhance the physical means of evacuation and comprehensive training programs to empower aviation personnel with the skills and knowledge necessary to navigate and manage emergencies effectively. This multifaceted strategy underscores the industry's commitment to ensuring the safety and protection of air travel in an environment where threats may be dynamic and unpredictable.*Restraint: Limited awareness and training.*Adequate training for cabin crew and passengers is paramount for ensuring the effective use of evacuation systems in the aviation industry. The proper functioning of evacuation procedures during emergencies relies heavily on the preparedness and knowledge of those on board. More training programs are needed to ensure the overall effectiveness of evacuation processes, potentially leading to increased risks and challenges during critical situations. Cabin crew members play a central role in managing and coordinating evacuations. Their training is comprehensive and encompasses various aspects of emergency response, including the operation of evacuation systems, communication with passengers, and executing evacuation procedures in different scenarios. The training covers the proper use of evacuation slides, life rafts, escape routes, and other safety equipment. It also emphasizes coordination among crew members to ensure a swift and organized evacuation process.*Opportunity: Global events and safety awareness.*High-profile aviation incidents often receive extensive media coverage, increasing public scrutiny and concern regarding aviation safety. The public's heightened awareness of the risks associated with air travel can demand more advanced and reliable safety technologies. Furthermore, governments and aviation regulatory bodies may respond to high-profile incidents by intensifying their focus on safety enhancements. This regulatory attention can result in introducing new safety standards or reinforcing existing ones, influencing market dynamics and encouraging the adoption of advanced evacuation systems. Additionally, market players can leverage high-profile incidents to demonstrate their commitment to passenger safety. By showcasing advancements in evacuation systems and emphasizing their role in enhancing overall aircraft safety, companies can build trust and credibility among industry stakeholders and the travelling public.*Challenge: Economic fluctuations and airline budget constraints.*Economic downturns often lead to budget constraints within airlines and aircraft operators. Organizations may implement cost-cutting measures to manage financial challenges, including delaying or reducing capital expenditures. Investments in new aircraft and safety equipment, including advanced evacuation systems, may be deferred as part of these cost-cutting strategies. Additionally, airlines facing economic challenges prioritize essential expenses such as fuel, maintenance, and operational necessities over non-immediate investments. Safety equipment, while crucial, may be considered a longer-term investment, and its priority may be impacted during periods of economic uncertainty. Furthermore, economic downturns often raise concerns about financial stability and liquidity within the aviation industry. Airlines may opt to conserve cash and maintain liquidity, leading to a conservative approach to major investments, especially in new aircraft and safety technologies.*Inquiry Before Buying: https://www.thebrainyinsights.com/enquiry/buying-inquiry/13947**Some of the major players operating in the global Aircraft Evacuation market are:*• Cobham PLC
• Dart Aerospace
• Collins Aerospace
• EAM Worldwide
• GKN Aerospace Services Limited
• Martin-Baker
• Mustang Survival
• NPP Zvezda PAO
• Survival Equipment Services Ltd.
• Switlik Parachute Company, Inc.
• Survitec Group Limited
• Trelleborg AB
• The MEL Group
• TULMAR Safety Systems
• Zodiac Aerospace*Key Segments cover in the market:*By Equipment Type• Ejection Seat
• Emergency Flotation System
• Evacuation Raft
• Evacuation Slide
• Life VestBy Aircraft Type• Narrow Body Aircraft
• Wide Body Aircraft
• Very Large Aircraft
• Regional Transport Aircraft
• Business Jet
• Helicopter
• Fighter JetBy Fit• Linefit
• RetrofitBy Region• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)*Buy full report with Table of Contents and List of Figures: https://www.thebrainyinsights.com/buy-now/13947/single**About the report:*The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.*About The Brainy Insights:*The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.*Contact Us*Avinash D
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