Aircraft Evacuation Systems Market. The Aircraft Evacuation Systems Market is estimated to register a CAGR of more than 5% during the forecast period of 2018 to 2023.
The Global Aircraft Evacuation Systems Market has been segmented based on equipment type, aircraft type, application, fit, and region.
Based on equipment type, the aircraft evacuation systems market is divided into evacuation slides, life rafts, emergency floatation system, personal floatation devices and ejection seat. The evacuation slides segment is estimated to account for the largest market share and is projected to witness the highest CAGR during the forecast period. The evacuation slides are prerequisite for all commercial aircraft and plays a vital during emergency evacuation in both ground and water. Some slides can even be transformed into rafts.
Based on application, the aircraft evacuation systems market is divided into commercial and military. The commercial segment is estimated to account for the largest market share and is projected to witness a higher CAGR during the forecast period. According to Boeing’s Current Market Outlook 2018, the global fleet size of commercial aircraft is anticipated to reach 42,730 aircraft by 2037. Increasing demand for commercial aircraft globally is positively influencing the aircraft evacuation market.
Based on region, the market is segmented into North America, Europe, Asia-Pacific, Rest of the World. In 2017, North America accounted for the largest market share, whereas, Asia-Pacific is projected to be the fastest-growing regional market during the review period. This growth can be attributed to the increase in indigenous combat and commercial aircraft production in the Asia Pacific region. China, India, and Japan are key markets for aircraft evacuation systems in this region.
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