Aerospace and Defense
Aircraft evacuation market to be characterized by strict governmental safety protocols, escalating demand for ejection seats to impel the industry growth over 2019-2025
With augmented safety protocols in the aviation industry and rising technological advancements, aircraft evacuation market is expected to depict remarkable growth trends in the coming years. The aviation industry being highly vital to today’s economic growth, this business sphere is gaining immense traction to eliminate or minimize costly and tragic consequences. If reports are to be believed, the year 2018 recorded over deaths of more than 534 passengers due to commercial aircraft accidents. The death toll has been much worse the previous years.
U.S. Aircraft Evacuation Market, By Product, 2018 & 2025, (USD Million)
As per a report by the European Transport Safety Council, more than 90% of the commercial airplane accidents are technically survivable. Pertaining to same, stringent government regulations toward implementing advanced safety systems while emergency landing. A report by Global Market Insights, Inc., claims that the aircraft evacuation market is expected to become a billion-dollar business by 2025.
The report further claims that in terms of the product landscape, ejection seat is anticipated to witness remarkable investment trends over the coming years. Ejection seats are witnessing robust demand from the military and defense forces. Strict safety standards and inspection systems have provided a positive outlook for the product demand. An instance bearing testimony to the same is of the U.S. Air force’s contract with the leading aircraft evacuation industry players Martin Baker and United Technologies Aerospace Systems for the development and production of evacuation ejection seats.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/3092
Moreover, the UK-based safety equipment and ejection seats manufacturer Martin Baker has also secured a new contract for delivering Mk18 ejection seat for its KAI’s (Korea Aerospace Industries) aircraft development program. The company will also be supplying escape systems for the KF-X, Republic of Korea Air Force’s new fighter.
It is prudent to mention that besides ejection seats, escape slides segment is also to set to propel the product landscape of aircraft evacuation market. Technological advancements in slide materials, operation techniques, and durability have significantly enhanced the product demand in the recent years. In order to cater to the rising demand of advanced evacuation systems, several airline & carrier companies are deploying or replacing old structures with new systems for enhanced safety features. With the rising demand for air carriers across the globe, OEMs are turning out as lucrative growth avenues depicting phenomenal commercialization trends for aircraft evacuation industry expansion. The segment growth is attributable to its ability to provide replacement, maintenance, and technical services for aircraft systems.
In 2016, an Estonia based aircraft maintenance company Magnetic MRO entered into a contract with Kazakhstan’s domestic flag carrier Air Astana to provide escape slide repair and overhaul requirements. The company added an escape slide evacuation workshop to its repair & maintenance services in 2014, as a part of a strategy to cater to the growing consumer base. The firm now boasts capabilities for Air Cruisers and Goodrich escape slides for Boeing aircraft types such as 757, 767,737 CL, and 717-200, as well as Airbus A320 Family aircraft. The OEM player also recently announced that it raised USD 9 million for acquiring one of its competitor and aims to expand rapidly in the competitive aircraft evacuation industry.
Taking into account the geographical landscape, Europe aircraft evacuation market accounted for significant share, given the robust expansion in the defense and commercial sectors of the regional aviation industry. Asia Pacific is also another lucrative region witnessing growing investment trends from aircraft evacuation industry players, given the increasing regional air travel rate. According to a report by IATA, APAC regions is witnessing an annual expansion rate of over 5.5% in passenger traffic, and is thus attracting investors to set up facilities and provide aircraft services.
The progressive growth of aircraft evacuation market is further set to witness advancement in systems such as introduction of RFID-based life vests. Additionally, with the rising penetration of top techs such as AI, blockchain, Internet of Things, and big data analysis, the global aircraft evacuation market is certain to traverse along a profitable growth graph in the ensuing years.
Author Name : Ojaswita Kutepatil
LATAM aircraft door market to gain modest proceeds by 2025, rising demand for air freight services to expedite the global industry expansion
The proliferating tourism industry along with the surging consumer spending on air travel have indeed pushed aircraft door market trends lately. Doors, being one of the most critical components of aircraft, are quite overtly designed with utmost precision to offer easy access control and management of various aircraft compartments as well as ensure passenger safety by maintaining required air pressure within the aircraft. With the global expansion of the aviation industry, aircraft door designers and manufacturers are now focusing on reducing the overall door weight to enhance the aircraft’s fuel efficiency and profitability. The rising focus on weight reduction solutions in air carriers will thus drive the aircraft door market size over the forthcoming years.
U.S. Aircraft Door Market, By Door, 2018 & 2025, (Units)
Given the escalating air traffic across the globe, the fact that the frequency of aircraft production has surged comes as no surprise. According to the International Air Transport Association (IATA), by 2036, the number of passengers using air transit services is expected to reach over 7.8 billion – nearly twice of the 4-billion-mark recorded in 2017. With rising disposable incomes along with the escalating annual spending in emerging nations, the demand new, advanced and luxury airliners will also increase, scaling up air carrier deliveries and subsequently impacting the global aircraft door industry share.
It has been observed that of all different types, cargo doors are significant more popular, perhaps on account of the rise in cargo transport. According to the IATA, the air freight transportation in the year 2018, surpassed 60 million tons with an increase of close to 4.5% as opposed to 2017. Indeed, air cargo transportation is known to be potentially significant and accounts for about 35% of the worldwide trade by volume. With the expansion of the e-commerce industry, online retail carriers and integrators are enhancing their package sorting and automation capabilities, in addition to extending networks in a bid to gain a larger fraction of the growing trade. Powered by the robust expansion of air cargo transportation and the massive requirement of efficient doors in aircraft to ease loading and unloading, cargo aircraft door market share will experience a commendable incline in the years ahead.
Latin America is anticipated to be tagged as one of the profitable regional grounds for the expansion of the global aircraft door market. Quite discernibly, the growth of the LATAM industry can be attributed to the fact that domestic airliners are consistently expanding their commercial and regional jet fleets in order to accommodate more passengers. Citing an instance of the aforementioned, in Q3 2018, Embraer had received an order of more than 20 regional jets from the reputed Azul Linhas Aereas Brasileiras.
Get a Sample Copy of this Report @ https://www.gminsights.com/request-sample/detail/2434
Driven by the expansion of the regional aviation industry and the efforts undertaken by prominent domestic players to consolidate their position in the global space, LATAM aircraft door market size is forecast to register a CAGR of 6.5% over 2019-2025.
The Indian air transport sector has also depicted strong growth in the recent years, a fact that would serve to proliferate the regional aircraft door industry. Reports from IATA forecast that in the next 20 years the number of annual air passenger journeys will increase by over 350 million, hitting almost 520 million journeys in 2037.
The regional civil aviation industry has also emerged as one of the fastest growing verticals in the recent years, and is expected to soon overtake the stalwarts in the domain in the global race. The strong performance of India’s aviation industry and the subsequently escalating demand for the production of technologically advanced aircraft, have thus served to expedite the growth map of India aircraft door market.
Aircraft doors in essence, play a vital role to maintain specific air pressure in an aircraft cabin, offering enhanced security and assurance to traveling passengers. With a rising proportion of the global populace opting for air travel owing to surplus disposable incomes and the growing trade initiated by e-commerce giants, worldwide aircraft door market size is poised to hit a remuneration mark of USD 9.5 billion by 2025.
Author Name :Mateen Dalal