Aircraft Evacuation Equipment are used to evacuate the passengers and crew from the aircraft in case of emergency or mishaps. These are the lifesaving devices installed or made available with the aircrafts which allow passengers to safely disembark the aircraft during a hazardous or life threatening situation. In the year 2020, only 19 plane crashes occurred which was the second lowest in the aviation history. In addition, the survival rate of passengers in fatal air crashes and aircraft evacuation situations has increased from 24% in the 2000s to 76% in the current year. Aircraft evacuation equipment has played a key role in raising the survival percentage of passengers. Aircraft evacuation equipment companies have been engaged in developing new methods and improving previously existing method of aircraft evacuation equipment. Owing to the importance of aircraft evacuation equipment and consistently growing aviation industry, the demand for aircraft evacuation equipment is expected to grow even further in the following years.

Government organizations, aviation departments and major airline operators across the globe have made alliances to develop the framework for implementation of aircraft evacuation equipment in the aircrafts for variety of end-use verticals. Mandates and guidelines have compelled airline companies to install aircraft evacuation equipment. Furthermore, the use of aircraft evacuation equipment in aircrafts for defense applications, private aircrafts and helicopters are also on the rise. Crucial aircraft evacuation equipment systems such as ejection seats, life vests and emergency floatation devices have been proven essential for life saving in aircraft mishaps. Perpetually developing technology, rising importance of the aircraft evacuation equipment reliability and significantly growing aviation industry have contributed toward the consistent growth in the aircraft evacuation equipment market.

The report titled “Aircraft Evacuation Equipment Market- Growth, Future Prospects and Competitive Landscape, 2021-2029” offers strategic insights into the global aircraft evacuation equipment market with a focus on the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of market segments based on aircraft type, equipment, fit and cross-sectional study across different geographies. The study covers the comparative analysis of each sub-segment for the years 2020-2029. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities.

In order to help strategic decision makers, the report also includes competitive profiling of the leading aircraft evacuation equipment manufacturing companies, their strategies, market positioning and key developments. Some of the major players profiled in the report include Dart Aerospace, Switlik Parachute Company, Inc., UTC Aerospace Systems, EAM Worldwide, GKN Aerospace Services Limited, NPP Zvezda PAO, Zodiac Aerospace, Mustang Survival, Survival Equipment Services Ltd., Martin-Baker, Trelleborg AB and Cobham PLC.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the aircraft evacuation equipment industry
• Market fuelers, market impediments, and their impact on the market growth
• Market inclination insights and key trend analysis for aircraft evacuation equipment market
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2019 – 2020)

Overall, the research study provides a holistic view of the global aircraft evacuation equipment market, offering market size and estimates for the period from 2021 to 2029, keeping in mind the above-mentioned factors. 

The commercial aircrafts segment was the biggest consumer of aircraft evacuation equipment in 2020. The mandates laid by government organizations and the aviation industry have urged the commercial airline operators to install aircraft evacuation equipment into their aircrafts. In addition, installation of aircraft evacuation equipment also helps in creating a sense of security in the minds of passengers. Consequently, the commercial aircraft companies have integrated the installation and up gradation of modern aircraft evacuation equipment in their aircrafts. The segment is expected to dominate the overall aircraft evacuation equipment market throughout the forecast period.

The military aircrafts segment is the fastest growing segment in the aircraft evacuation equipment market, as of 2020. The race to expand their air defense systems between numerous countries across the world has significantly boosted the demand for military aircrafts. This has aided the demand for aircraft evacuation equipment such as life vests, ejection seats and emergency floatation devices, among others. Ongoing strengthening of air defense and rising importance of human life in critical situations have resulted in significant growth of this segment in the overall aircraft evacuation equipment market.

As of 2020, evacuation slides led the type segment in the overall aircraft evacuation equipment market. Evacuation slides have become a mandatory aircraft evacuation equipment irrespective of the type of aircraft. It is an air-filled slide which allows passengers and crew members of an aircraft to get-off easily in case of emergency landings. With rising demand for aircrafts for commercial as well as for other applications, the demand for evacuation slides is also expected to demonstrate a consistent growth in the following years.

Life vests and emergency floating devices trailed the evacuation slides segment in terms of revenue in the overall aircraft evacuation equipment market. Life vests act as a major life-saving equipment in case of emergency landing in water bodies. Life vests have been responsible for saving thousands of lives in an aforementioned situation from past many decades. Similarly, emergency floating devices also act as an essential component in the overall aircraft evacuation equipment. Both the devices are expected to grow persistently throughout the forecast period from 2021 to 2029 respectively.

Line fit aircrafts are the aircraft which install the aircraft evacuation equipment during their manufacturing. The companies install the evacuation equipment in the aircraft as an integral part of the system. Almost all the new aircraft irrespective of their application are fitted with aircraft evacuation equipment during their manufacturing. The line fit installing is expected to dominate the segment significantly throughout the forecast period.

Retrofit are devices installed after the manufacturing and sale of the aircrafts. The demand for retrofit is declining consistently as new aircrafts are already available with preinstalled aircraft evacuation equipment. However, due to the mandates, some of the old aircrafts are compelled to install the aircraft evacuation equipment. Thus, the market for the retrofit aircraft evacuation system is declining slowing.

As of 2020, North America dominated the overall aircraft evacuation equipment market in terms of revenue. The aviation industry in this region, especially in the U.S. has been growing consistently over the past decade. Rising commercial trade and passenger transportation have significantly accelerated the growth of aviation industry in the North America. Presence of major airline companies and aircraft evacuation equipment manufacturers have further bolstered the aircraft evacuation equipment market in the region.

Europe trailed North America in the aircraft evacuation equipment market in terms of revenue. Similar to the North American market, European countries have also experienced growth in the field of passenger as well as cargo transport. With growing trade and tourism in the European countries, the demand for aircraft evacuation equipment is also expected to soar continuously. Asia Pacific region is expected to demonstrate the fastest growth in the overall aircraft evacuation equipment market. Emerging economies of Asia Pacific are promoting the air transportation at a significant rate. Therefore, the market is expected to offer immense growth opportunities for the aircraft evacuation equipment market.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Aircraft Evacuation Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Aircraft Evacuation Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Aircraft Evacuation Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Aircraft Evacuation Equipment market?
• Which is the largest regional market for Aircraft Evacuation Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Aircraft Evacuation Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Aircraft Evacuation Equipment market worldwide?