SELBYVILLE, Del., Sept. 22, 2021 (GLOBE NEWSWIRE) -- According to latest report "Aircraft Evacuation Market by Product (Life Vest, Escape Slide, Evacuation Raft, Ejection Seat, Inflatable Floatation), By Platform (Fixed-wing [Narrow-body, Wide-body, Regional Aircraft, Fighter Jet], Rotary Wing [Civil Helicopter, Military Helicopter]), By Distribution Channel (OEM, Aftermarket), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027", by Global Market Insights Inc., the market valuation of aircraft evacuation will cross $1.5 billion by 2027.
The globalization of business operations and growing international & domestic tourism have significantly increased business jets and commercial aircraft demand. According to the General Aviation Manufacturers Association, in 2017, the European fleet consisted of around 136,000 aircraft. Additionally, in 2017, Europe was ranked as the second-largest market for business jets after North America. Around 17% of the business jet deliveries were made to the European region. These growing trends in the market are anticipated to strongly complement the overall market growth during the forecast period.
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COVID-19 disrupted the overall aviation industry; hence, the aircraft evacuation took a major hit in 2020. The enforcement of lockdowns across the globe has resulted in a major dip in revenue of the aviation sector, in turn, negatively impacting the overall market value.
The evacuation seat held more than 15% of the aircraft evacuation market share in 2020. The increasing acquisition of fighter aircraft by countries including China, the UK, France, and Germany due to security threats and to meet the demand of defense budget is poised to drive the ejection seat market during the forecast period.
The rotatory wing military helicopter in the aircraft evacuation market will witness a 4% growth rate through 2027. Military helicopters are basis of various evacuation and defense activities in terms of transportation of goods as well as evacuation of injured civilians. These helicopters can transport personnel and cargo quickly without requiring a runway for takeoff and landings; hence, military helicopters are forming an integral part of defense forces worldwide.
The Asia Pacific aircraft evacuation market captured 15% of revenue share in 2020 and is estimated to attain a CAGR of 8% till 2027. This is attributed to key factors, including robust economic growth and infrastructure development to fill the demand and supply gap in air transportation. According to the International Air Transport Association, in 2017, the international passenger traffic growth in the region increased by 9.4% compared to 2016. Improving intra and inter region route connectivity has led to a higher commercial aircraft demand, boosting the industry share during the forecast timeline.
The growing aircraft deliveries in the APAC region generated large life vests, evacuation rafts, and escape slide demand. Each aircraft consists of life vests with equal number of passengers and crew members on board. Furthermore, every door of an aircraft is equipped with escape slides. The timely maintenance of these evacuation products will further support the industry growth over the forecast timeframe.
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The major companies operating in the aircraft evacuation market include UTC Aerospace, Zodiac Aerospace, NPP Zvezda, EAM Worldwide, DART Aerospace, Switlik, Trelleborg, Survitec Group, and Martin Baker.
Table of Contents (ToC) of the report:
Chapter 3 Aircraft Evacuation Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2017 - 2027
3.2.1 Impact analysis of coronavirus (COVID-19) pandemic
3.3 Industry ecosystem analysis
3.3.1 Supplier
3.3.2 Manufacturer
3.3.3 Profit margin analysis
3.3.4 Distribution channel analysis
3.3.5 Value chain disruption analysis
3.3.6 Vendor matrix
3.4 Technology landscape
3.5 Pricing trends
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Innovation & sustainability
3.9 Growth potential analysis, 2020
3.10 Porter's analysis
3.11 Competitive landscape, 2020
3.12 PESTLE analysis
3.13 Product lifecycle analysis
Browse the Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/aircraft-evacuation-market
About Global Market Insights Inc.
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Related Images
Image 1: Aircraft Evacuation Market Growth Predicted at 6.2% Through 2027: GMI
Asia Pacific aircraft evacuation market is expected to show a reasonable growth of 8% through 2027.
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