Aircraft Evacuation Systems Market by Product Type and Geography - Forecast and Analysis 2022-2026

The aircraft evacuation systems market share is expected to increase by USD 821.11 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.36%.

This aircraft evacuation systems market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers aircraft evacuation systems market segmentation by product (evacuation slides, life rafts, and life vests) and geography (North America, APAC, Europe, South America, and the Middle East and Africa). The aircraft evacuation systems market report also offers information on several market vendors, including Alliance Marine, Astronics Corp., C&M Marine Aviation Services Inc., Deutsche Lufthansa AG, EAM Worldwide, Eaton Corp. Plc, JAMCO Corp., Martin-Baker Aircraft Co. Ltd, Raytheon Technologies Corp., Safety Marine Australia Pty Ltd., Safran SA, Survitec Group Ltd., Switlik Parachute Co., The MEL Group, TransDigm Group Inc., Trelleborg AB, Tulmar Safety Systems, and Wing Group among others.

What will the Aircraft Evacuation Systems Market Size be During the Forecast Period?

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Aircraft Evacuation Systems Market: Key Drivers, Trends, and Challenges

The induction of new aircraft into service is notably driving the aircraft evacuation systems market growth, although factors such as fluctuations in raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the aircraft evacuation systems industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.

Key Aircraft Evacuation Systems Market Driver

The induction of new aircraft into service is one of the major drivers impacting the aircraft evacuation systems market growth. Boeing and Airbus recorded robust orders in 2021 from various airline operators around the world. Also, commercial aircraft have been mandated to maintain certain safety standards by the FAA. New-generation aircraft also have advanced features pre-installed to enhance safety standards for passengers. For instance, in new aircraft models such as the Boeing 737NG, C Series, and E190 E2, self-supporting Type III emergency exits have been installed, and non-inflatable hand-held evacuation slides are being replaced with automatically-inflated slides. Regulatory requirements for floor proximity emergency escape path lighting and emergency exit identifier lighting have also helped passengers identify emergency exit routes during low-visibility conditions such as darkness or smoke. Similarly, the installation of external lights as part of emergency lighting systems helps passengers and crew assess the surroundings and the surface on which evacuation is taking place. Such installations in new aircraft will create demand for aircraft evacuation systems to boost the global aircraft evacuation systems market's growth during the forecast period.

Key Aircraft Evacuation Systems Market Trend

The introduction of RFID-based life vests in aviation is one of the major trends influencing the aircraft evacuation systems market growth. RFID is a well-established technology used across many industries for inventory control, asset tracking, and implementing security measures. It is designed to operate through two different parts: a transponder tag attached to the inventory asset and a reader, which acts both as a transceiver and an antenna. Unlike tamper-evident labels that need to be visually inspected, the security tag on an RFID life vest permits digital tamper detection through this technology. Since RFID is encoded with all essential information about the product, a handheld scanner or fixed reader with mobile software can provide real-time information, including inventory location, expiry dates, and serial numbers, and generate all necessary documentation as per requirements. This allows an entire aircraft to be scanned and verified in minutes, thus saving valuable resources such as time and money and optimizing operational efficiency. As life vests and associated safety kits are offered as standard options along with life rafts, such advancements will help enhance the effectiveness of rafts used during emergencies as they can be tracked even in low-visibility scenarios. Besides, aircraft evacuation system malfunctions can also be mitigated, given the availability of periodic check records.

Key Aircraft Evacuation Systems Market Challenge

Fluctuations in raw material prices are one of the major trends influencing the aircraft evacuation systems market growth. Raw material prices have remained quite volatile over the past decade. The use of petroleum products such as polyurethane-coated fabric (PCF) in aircraft evacuation systems has raised manufacturing costs. Moreover, with demand outpacing supply, taxes, and duties, additional tariffs, and forced production outages in offshore chemical-producing countries have also exerted pressure on prices. Manufacturers are being forced to pursue alternative raw materials to maintain their focus on price and product mix. They are also looking at additional substitution opportunities to reduce the amount of material required in the construction of individual evacuation components, such as life rafts and emergency slides. Thus, any delay in the delivery of a component could adversely affect the entire supply chain and defer the delivery of a fully-functional aircraft. These pose planning-related challenges for manufacturers of associated systems and components, such as aircraft evacuation systems, as delays in aircraft delivery will compel them to maintain a huge stock of raw materials and other parts and components. This escalates the holding costs and the overall cost of production of a component making the procurement process of raw materials increasingly complex and costly.

This aircraft evacuation systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global aircraft evacuation systems market as a part of the global aerospace & defense market within the global capital goods market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the aircraft evacuation systems market during the forecast period.

Who are the Major Aircraft Evacuation Systems Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Alliance Marine
• Astronics Corp.
• C&M Marine Aviation Services Inc.
• Deutsche Lufthansa AG
• EAM Worldwide
• Eaton Corp. Plc
• JAMCO Corp.
• Martin-Baker Aircraft Co. Ltd
• Raytheon Technologies Corp.
• Safety Marine Australia Pty Ltd.
• Safran SA
• Survitec Group Ltd.
• Switlik Parachute Co.
• The MEL Group
• TransDigm Group Inc.
• Trelleborg AB
• Tulmar Safety Systems
• Wing Group

 

This statistical study of the aircraft evacuation systems market encompasses successful business strategies deployed by the key vendors. The aircraft evacuation systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The aircraft evacuation systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Aircraft Evacuation Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the aircraft evacuation systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Aircraft Evacuation Systems Market?

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31% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for aircraft evacuation systems market in APAC. Market growth in this region will be faster than the growth of the market in other regions. 

Higher air traffic will facilitate the aircraft evacuation systems market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID-19 Impact and Recovery Analysis

Owing to the outbreak of COVID-19 in APAC, the aviation sector witnessed a drastic decline in passengers, resulting in a significant revenue drop in 2020. Lockdowns were imposed in several nations, including India, China, Japan, Australia, and Malaysia, to contain the spread of the disease. However, owing to the initiation of large-scale vaccination programs in the region, lockdowns were removed in APAC in 2021, permitting the restoration of numerous developmental and recreational activities. The removal of lockdowns allowed tourists to resume their journeys, as well as aircraft manufacturers to resume production. 

What are the Revenue-generating Product Segments in the Aircraft Evacuation Systems Market?

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The aircraft evacuation systems market share growth in the evacuation slides segment will be significant during the forecast period. Evacuation slides are used by aircraft crew to evacuate passengers safely in the event of an emergency when boarding bridges are not available to assist in the evacuation. The FAA mandates the installation of evacuation slides on all aircraft doors where the floor height is 6 feet or more from the ground.

This report provides an accurate prediction of the contribution of all the segments to the growth of the aircraft evacuation systems market size and actionable market insights on post-COVID-19 impact on each segment.

 

Aircraft Evacuation Systems Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.36%
Market growth 2022-2026	$ 821.11 million
Market structure	Fragmented
YoY growth (%)	3.95
Regional analysis	North America, APAC, Europe, South America, Middle East and Africa
Performing market contribution	APAC at 31%
Key consumer countries	US, Canada, China, India, Japan, and Germany
Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
Key companies profiled	Alliance Marine, Astronics Corp., C&M Marine Aviation Services Inc., Deutsche Lufthansa AG, EAM Worldwide, Eaton Corp. Plc, JAMCO Corp., Martin-Baker Aircraft Co. Ltd, Raytheon Technologies Corp., Safety Marine Australia Pty Ltd., Safran SA, Survitec Group Ltd., Switlik Parachute Co., The MEL Group, TransDigm Group Inc., Trelleborg AB, Tulmar Safety Systems, and Wing Group
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Aircraft Evacuation Systems Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive aircraft evacuation systems market growth during the next five years
• Precise estimation of the aircraft evacuation systems market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the aircraft evacuation systems industry across North America, APAC, Europe, South America, the Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of aircraft evacuation systems market vendors

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