Copyright © 2024 Research Nester. All Rights Reserved
Aircraft Evacuation Slide Market size is projected to grow at substantial growth rate during the forecast period i.e., between 2024-2036.
The global aircraft evacuation slide market is thriving on the back of increasing incidences of aircraft accidents as well as for the risks associated with the crash of an aircraft, followed by the growing need amongst aircraft operators and aircraft manufacturers for emergency aircraft landing equipment to tackle an emergency situation crisis.
Growth Drivers
Increase In The Number Of Passengers Opting For Air Travel
There is a significant increase in the global passenger traffic owing to the increasing preference amongst passengers for air travel, as travelling by air saves travelling time and is also a convenient mode of travel. According to the International Civil Aviation Organization (ICAO), passengers carried on scheduled services grew by 6.4% from the year 2017 to reach 4.3 billion in the year 2018. Such a factor has also put a strain on ensuring the safety of the passengers. As more and more stringent air safety regulations are coming into the light, there is a growing focus on enhancing passenger safety and their protection, so that there is minimum amount of causalities associated with air travel. This compulsion towards safety has led the aircraft market to focus more on safety of its passengers, which is anticipated to drive the growth of the global aircraft evacuation slide market.
Stringent Aviation Regulation By The Regulatory Authorities
The aviation business has continuously been underneath the scanner of regulative authorities, thereby raising the need amongst the aircraft manufacturers to stick to numerous guidelines issued by them. These laws have compelled makers of aircraft safety systems to develop a product, such as aircraft evacuation slide, that is compatible with this regulative setting. Aircraft evacuation slides are essential for safety of the passengers of an aircraft, as a result of which the aircraft evacuation slide makers are constantly putting up efforts for research and developments to increase their potency and thereby reduce the operational time of its inflation. Such factors are anticipated to drive the growth of the global aircraft evacuation slide market.
Challenges
Demand for Huge Financial Support for Manufacturing Aircraft Evacuation Slides
Despite the growing market for the evacuation slide, manufacturing of such equipment requires significant financial support. Moreover, proper planning is also required to line up the resources for increasing the efficiency of manufacturing processes. Owing to such a factor, the service delivery can be highly affected and could also lead to the delay in the payments. This vicious cycle along with the lack of a well-established supply chain system are some of the factors anticipated to hamper the growth of the aircraft evacuation slide market.
|
Base Year |
2023 |
|
Forecast Year |
2024-2036 |
|
Regional Scope |
|
The aircraft evacuation slide market is segmented by aircraft type into fixed-wing and rotary wing. Among these segments, fixed-wing segment held the largest market share in the year 2018 and it is expected to grow significantly over the forecast period. This can be attributed to the rising production of fixed-wing aircrafts, which has increased substantially over the years, owing to the growing number of travelers worldwide, along with the increase in cargo shipments around the globe. However, based on product type, the aircraft evacuation market has been divided into life jacket, evacuation slide, evacuation raft, ejector seat and emergency inflatable flotation. The evacuation slide section is anticipated to grow at the highest CAGR over the forecast period.
Our in-depth analysis of the global market includes the following segments:
|
By Aircraft Type |
|
|
By Product Type |
|
|
By Distribution Channel |
|
On the basis of regional analysis, the global aircraft evacuation slide market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
North America industry is anticipated to dominate majority revenue share by 2036, propelled by native presence of distinguished aircraft makers. owing to the native presence of distinguished aircraft makers. Latin America is predicted to exhibit vital growth within the market over the forecast period, owing to the presence of micro OEMs in this region. Moreover, the massive installed base of aircraft in this region is also predicted to drive the aftermarket of the aircraft evacuation slide market. Additionally, government initiatives to extend manufacturing by the formation of enticing policies in countries like China and India are predicted to spice up the slide producing business in the Asia Pacific region.
Author Credits: Dhruv Bhatia
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?