Global Aircraft Evacuation Systems Market 2019-2023
About this market
The Big Data analytics and its effect on aircraft safety is likely to push growth in the market. Big Data has already proven to be a sound investment for airlines. Together with a suitable analytical approach, the data can be used to eliminate redundancies in the system and enhance safety. Technavio’s analysts have predicted that the aircraft evacuation systems market will register a CAGR of over 4% by 2023.
Augmented safety protocols in aviation
The increasing need for cheap flights and the growing air traffic will result in a rise in demand for low-cost carriers. Moreover, the growing international tourism and domestic travel will also drive the demand for low-cost carriers in the coming years. Major low-cost carriers such as Indigo and SpiceJet have already announced plans to expand their aircraft fleet.
Need for frequent maintenance
Aircraft evaluation systems are subjected to periodic inspections to avert fatal accidents that can occur from some faults such as leaks and fabric degradation. Thus, maintaining such systems add up to the cost, thereby affecting a buyer’s decision. Such factors may lower the demand for aircraft evacuation systems during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the aircraft evacuation systems market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies including EAM Worldwide and Survitec Group the competitive environment is quite intense. Factors such as the augmented safety protocols in aviation and the Big Data analytics and its effect on aircraft safety, will provide considerable growth opportunities to aircraft evacuation systems manufactures. EAM Worldwide, Survitec Group, Switlik, UTC Aerospace Systems, and ZODIAC AEROSPACE are some of the major companies covered in this report.
‘With the presence of a considerable number of companies, this market appears to be fragmented. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.’
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