The research analyst has published the latest report titled, “Global Aircraft Evacuation Market Report, History and Forecast 2014-2025,” which has studied the market size in terms of volume and value and has also analyzed its key market drivers and restraints to predict the future growth opportunities of the aircraft evacuation market. As per the report, the global aircraft evacuation market was valued at US$ 1180 Mn in the year 2018 and is expected to reach at US$ 1490 Mn by the end of 2025, exhibiting the sluggish CAGR of 3.4 % during the assessment period of 2019-2025.
Global Aircraft Evacuation market: Forecast by Segmentation
The global aircraft evacuation market is segmented into application and product type. Based on the application, the market is segmented into Retrofit, and Linefit. On the basis of product type, the aircraft evacuation market is segmented into Emergency Flotation, Life Vest, Evacuation Raft, Evacuation Slide, and Ejection Seat.
Global Aircraft Evacuation market: Drivers and Restraints
With the growing demand for emergency aircraft landing equipment because of the risk associated with the aircraft crashes are enhancing the demand for aircraft evacuation over the projected period. Thriving the demand from defense forces to develop advanced technology and light weighted evacuation systems are likely to boost the growth of the market in the years to come. Factors such as stringent government regulations and improved safety evacuation systems for enhancing passenger safety are also creating positive impact on the growth of the market.
Other factors such as the rising aircraft orders across the globe are likely to fuel the growth of the market. Technological advancements such as the development of automatically inflated evacuation slides are expected to propel the demand for aircraft evacuation throughout the anticipated period.
However, some of the factors such as the higher cost associated with the training of crew members and the problems related to the reliability of the aircraft evacuation systems may create a negative impact on the growth of the market. The short life cycle of the aircraft evacuation systems is also hampering the growth of the market in the years to come.
Global Aircraft Evacuation market: Key Players
The major players operating in the global aircraft evacuation market are Mustang Survival, UTC Aerospace Systems, Switlik Parachute Company, Zodiac Aerospace, Survival Equipment, Martin-Baker, Dart Aerospace, NPP Zvezda PAO, Cobham, Trelleborg, and GKN Aerospace.
Global Aircraft Evacuation market: Forecast by Regions
North America is likely to witnesses a significant market growth due to the advent of innovative technologies. The Asia Pacific is likely to grab a remarkable market share because of the increasing demand for aircraft production and the growing urban population. Growing government initiatives to increase production of aircrafts by the formulation of various policies in emerging economies such as India and China is likely to boost the demand for aircraft evacuation in the region. Europe market of aircraft evacuation is also expected to grow at a significant rate in the near future.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076623/global-aircraft-evacuation-market