Aircraft evacuation refers to emergency exit from an aircraft that can occur on the ground, in water, or in mid-flight. There are standard evacuation procedures and special evacuation equipment. Governments across the globe are creating stringent regulations for airline operators to equip their airplanes with the latest safety technologies to improve passenger safety. In December 2015, for example, the Federal Aviation Administration (FAA) approved the installation of new escape slides in over 300 Boeing 767 jetliner aircraft to improve passenger safety. The global aircraft manufacturers are collaborating with various companies in the Asia-Pacific region to develop their manufacturing facilities in the region. Moreover, various aircraft component manufacturers are also collaborating with different companies in the region.
COVID-19 Impact Analysis
- The supply chain of spare parts of aircraft evacuation systems has been hampered due to the declared lockdowns across the globe. Lockdown of airports across the globe & halt of all activities inside the airports have reduced the opportunities for aircraft evacuation industries and their business development potential has been hampered. Considerable rise in demand in the commercial aircraft market is soon expected as the world is returning to routine, and the majority of domestic & international flights have started to resume.
Top Impacting Factors
Rise in need for advanced emergency response systems, surge in commercial aircraft segment, and increase in demand for new airplanes coupled with numerous safety drills drive the growth of the market.
Installation of such advanced safety features, the flight crew needs to be trained extensively which is an expensive affair, and long product lifecycle of evacuation slides hamper the market growth.
Rise in number of air passengers globally act as an opportunity for the market investments.
The Aircraft Evacuation Market Trends are as Follows:
Rise in Number of Air Passengers Globally
- The rise in global air passenger traffic is leading to the expansion of existing airports and the construction of new airports. For instance, 50 airports in the U.S. have spent an estimated 70 billion USD in 2018 for the expansion of existing airports as well as the construction & development of new airports. Furthermore, according to the Economic Times, India is also expected to increase by 100 airports in the coming 15 years to keep up with the rise in air passenger movement. Such expansion & development of new airports will generate the need for airport passenger security equipment and hence will drive the growth of the global commercial airport passenger security market.
Key Benefits of the Report:
- This study presents the analytical depiction of the aircraft evacuation market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with challenges of the aircraft evacuation market.
- The current market is quantitatively analyzed to highlight the growth scenario of the aircraft evacuation market.
- The report provides a detailed aircraft evacuation market analysis based on competitive intensity and the competition that will take shape in coming years.
Questions Answered in the Aircraft Evacuation Market Research Report:
- Who are the leading market players active in the aircraft evacuation market?
- What would be the detailed impact of COVID-19 on the market?
- What are the current trends that would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the aircraft evacuation market?
- What are the future projections that would help in taking further strategic steps?
Aircraft Evacuation Market Report Highlights
By Equipment Type
By Aircraft Type
Key Market Players
UTC Aerospace Systems, GKN Aerospace, Cobham, NPP Zvezda PAO, EAM Worldwide, Dart Aerospace, Zodiac Aerospace, Trelleborg, Martin-Baker, Survival Equipment.