Global Aircraft Evacuation Market Size 2024, Forecast To 2033
6 Mar, 2024
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 growth in the historic period can be attributed to stringent safety regulations, increased air travel, focus on passenger safety, airline industry competitiveness, 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 growth in the forecast period can be attributed to rising air passenger traffic, innovations in evacuation systems, regulatory emphasis on evacuation standards, focus on accessibility, global collaboration on safety measures. Major trends in the forecast period include innovations in evacuation systems, integration of smart technologies, focus on lightweight and compact designs, enhanced training simulators, incorporation of evacuation technologies in aircraft design.
Global Aircraft Evacuation Market Key Driver
The aircraft evacuation market is expected to experience growth, driven by the increasing air passenger traffic globally. The term "air passenger traffic" pertains to individuals or businesses primarily involved in transporting people by aircraft in interstate commerce. The growth in air passenger traffic contributes significantly to the aircraft evacuation market, as evacuation devices and processes play a crucial role in ensuring passenger safety during flights. According to the International Air Transport Association (IATA), projections for 2024 indicate a rebound to pre-COVID-19 levels, with an estimated 4.0 billion air passengers worldwide, reflecting 103% of the 2019 levels. The escalating air passenger traffic, evident from 2021 and 2022, is a driving force behind the growth of the aircraft evacuation market, underscoring its vital role in aviation safety. The market size in 2023, 2024, and 2028 is expected to align with this upward trend, emphasizing the sustained growth trajectory.
Get A Free Sample Of The Global Aircraft Evacuation Market ReportGlobal Aircraft Evacuation Market Segments
The aircraft evacuation market covered in this report is segmented –
1) By Equipment Type: Life Vest, Evacuation Slide And Raft, Ejection Seat, Emergency Floatation
2) By Fit: Line Fit, Retrofit
3) By Aircraft Type: Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Business Jet, Regional Transport Aircraft, Fighter Jet, Helicopter
By Geography:The regions covered in the aircraft evacuation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
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
Major Aircraft Evacuation Industry Players
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
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Aircraft Evacuation Market Overview
Aircraft evacuation refers to a sudden exit from an airplane on land, in the water, or mid-flight. Regular evacuation protocols and specific evacuation equipment are in place. This is usually done due to a fire hazard. It saves lives because having a clear evacuation strategy ensures that individuals are better prepared in the event of an explosion or other disaster.
Aircraft Evacuation Global Market Report 2023 provides data on the global aircraft evacuation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft evacuation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.