PUBLISHER: The Business Research Company | PRODUCT CODE: 1413977
PUBLISHER: The Business Research Company | PRODUCT CODE: 1413977
“Aircraft Evacuation Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aircraft evacuation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aircraft evacuation? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aircraft evacuation market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Aircraft evacuation refers to the sudden departure from an airplane either on land, in water, or during flight, necessitating established evacuation protocols and specialized equipment. This procedure is typically executed in response to a fire hazard, aimed at preserving lives by ensuring a clear evacuation strategy in the event of an explosion or other disasters.
The primary types of aircraft evacuation equipment include life vests, evacuation slides and rafts, ejection seats, and emergency floatation devices. Life vests are wearable cardioverter defibrillators (WCDs) designed for individuals at risk of cardiac arrest. These devices come in various fits such as line fit and retrofit, catering to a range of aircraft types, including narrow-body, wide-body, very large aircraft, business jets, regional transport aircraft, fighter jets, and helicopters.
The aircraft evacuation market research report is one of a series of new reports from The Business Research Company that provides aircraft evacuation market statistics, including aircraft evacuation industry global market size, regional shares, competitors with a aircraft evacuation market share, detailed aircraft evacuation market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft evacuation industry. This aircraft evacuation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 expansion observed in the historical period can be attributed to several factors, including stringent safety regulations, the surge in air travel, a heightened emphasis on passenger safety, competitiveness within the airline industry, and the formation of 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 anticipated growth in the forecast period is expected to be driven by increasing air passenger traffic, advancements in evacuation systems, regulatory emphasis on evacuation standards, a concentrated focus on accessibility, and global collaboration concerning safety measures. Major trends projected in this period encompass innovations in evacuation systems, the integration of smart technologies, an emphasis on lightweight and compact designs, the development of enhanced training simulators, and the incorporation of evacuation technologies in aircraft design.
The escalating air passenger traffic is anticipated to significantly contribute to the growth of the aircraft evacuation market in the future. Air passenger traffic denotes individuals or businesses primarily engaged in transporting people via aircraft in interstate commerce. The increasing volume of air passengers plays a crucial role in the aircraft evacuation market by emphasizing the importance of evacuation devices and processes that safeguard passengers' lives during flights. For instance, in March 2022, the International Air Transport Association (IATA), a Canada-based association supporting airline activities and formulating industry policies and standards, projected a surge in worldwide air passengers, reaching pre-COVID-19 levels with an estimated 4.0 billion passengers by 2024 (inclusive of multi-sector connecting flights counted as one passenger). This projection reflects a significant increase compared to the total number of travelers in 2021 (47% higher) and estimates for 2022 (83% higher). Hence, the escalating air passenger traffic is a driving force behind the growth of the aircraft evacuation market.
The increasing frequency of aviation accidents is also expected to propel the growth of the aircraft evacuation market. Aviation accidents, also referred to as air crashes or aircraft accidents, encompass unfortunate events involving aircraft resulting in damage, injury, or fatalities. The implementation of aircraft evacuation strategies during aviation accidents holds paramount importance as it facilitates a swift and efficient escape from potentially perilous situations. For example, as reported by The International Air Transport Association in June 2022, commercial aviation accidents surged from 29 in 2021 to 39 in 2022, with the accident rate rising from 1.13 per million sectors in 2021 to 1.21 in 2022. Consequently, the escalating number of aviation accidents acts as a catalyst for the growth of the aircraft evacuation market.
Product innovation has emerged as a dominant trend within the aircraft evacuation market, driving major companies to focus on developing groundbreaking solutions to solidify their market positions. For instance, in December 2021, Mallaghan Engineering, Ltd., a UK-based producer of airport ground support equipment, unveiled a novel 6x6 fire rescue stair specifically designed for airport ground support. This innovative stair system offers a spacious platform ensuring safe working conditions, high driving stability, and numerous additional functionalities. The Mallaghan Fire Rescue Stair was engineered to facilitate swift emergency evacuation of aircraft passengers in critical situations.
Significant players in the aircraft evacuation market are prioritizing collaboration and partnerships to offer dependable services to their clientele. Strategic partnerships, involving structured affiliations between multiple enterprises via business agreements or contracts, are being leveraged for enhanced service delivery. For instance, in October 2023, Hong Kong Aircraft Engineering Company Limited (HAECO), a Hong Kong-based aircraft engineering and maintenance company, inked an agreement with Safran AeroSystems, a France-based provider of on-board fuel and fluid systems. This groundbreaking agreement grants HAECO's Component Repair and Overhaul (CRO) division the authority to augment the capacity of the evacuation slide on the C919 aircraft, a move aimed at advancing maintenance capabilities.
In June 2022, Air Partner, a UK-based international aviation services group, collaborated with Kenyon International Emergency Services, a US-based disaster management company offering a comprehensive range of emergency response services. This partnership aims to develop and implement tailored air evacuation plans tailored to provide comprehensive care for individuals during times of disasters, showcasing a proactive approach to emergency preparedness and response.
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
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
The countries covered in the aircraft evacuation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The aircraft evacuation market consists of sales of air ambulances and portable medical isolation units. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.