According to Stratistics MRC, the Global Aircraft Survival Equipment Market is expected to grow at a CAGR of 7.83% during the forecast period.
The aircraft survival equipment is a set of basic tools and kits used for emergency survival. Survival kits are installed in all types of aircraft to improve safety during flight hours. An aircraft’s survival is improved by installing electronic support equipment. It consists of the flight control, avionics, navigation, and communication systems. Electronic attack systems are also used to protect aircraft from enemy attacks and to damage external threats. Furthermore, the rapid expansion of the aviation sector, increased air traffic, and rising aircraft orders all contribute to increased demand for aircraft survival equipment. Due to an increase in the number of accidents and mishaps occurring around an aircraft, various governing bodies tighten safety standards, which drives market growth.
The market is expanding due to rising demand for military aircraft and advanced safety kits for military troops during combat operations. Aircraft survival equipment reduces the fragility of fighter jets, allowing crew members to conduct military operations safely. The equipment increases the aircraft’s survivability against emerging threats while maintaining combat mission efficiency. Increasing defence spending, increased procurement of next-generation fighter aircraft, and an increase in military exercises will all contribute to market growth. Furthermore, growing political conflicts and territorial disputes among neighbouring nations continue to fuel demand for advanced military aircraft, driving market growth.
By geography, The North America region is expected to grow significantly and to register the highest CAGR growth during the forecast period. In North America, approximately 1,800 new units were produced in 2018. As a result, in terms of fleet, North America is the most viable region for stockholders in the global aircraft survival equipment market because the region is expected to account for nearly 37% of global production, which is expected to accelerate demand for aircraft evacuation systems during the forecast period. Additionally, the region’s increasing investment in the defense sector is likely to fuel the market in the region.
Some of the key players profiled in the Aircraft Survival Equipment Market include ASELSAN A.S., Northrop Grumman, UTC Aerospace Systems, Zodiac Aerospace, Cobham, Dart Aerospace, Elbit Systems Ltd., BAE Systems, Saab AB, EAM Worldwide, Martin-Baker, NPP Zvezda PAO, Trelleborg and GKN Aerospace.
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- Life Rafts
- Medical Kits
- Electronic Support
- Electronic Attack
- Other Equipments
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