Aircraft Ejection Seat Market By Fit, Aircraft Type, Seat Type and Region | Global Aircraft Ejection Market is projected to expand at a CAGR of 5.25% from 2018 to 2023
Seat ejection from the aircraft is one of the primary countermeasures to save the life of the pilot in the event of an accident or malfunction onboard. The increased focus on the safety of aircraft pilots is increasing as technology progresses to achieve the safety of pilots in combat or flights. The market for aircraft ejection seat is projected to earn revenues amounting to USD 505.4 Million while progressing at a CAGR of 5.25% in the duration of the forecast period. Increasing insight and development of better and more streamlined components is supporting the expansion of the Aircraft Ejection Seat Market.
The aircraft ejection seat market is found to be driven by the focus on improving dated military aircraft as a part of the initiatives to renovate and improve the existing fleet. Countries are also planning on investing in innovative technologies that will potentially enhance the operational capabilities of their armed forces. As a result of this factor, the surge in military spending together with the increasing demand for combat aircraft is expected to boost the development of the aircraft ejection seat market. Furthermore, the substantial rise in terrorism and terrorism-related fatalities is anticipated to increase expenditure on the maintenance or replacement of ejection seat components assemblies, service overhaul of ejection seats which is expected to further motivate the development of the aircraft ejection seat market in the upcoming forecast period.
The segmentation of the aircraft ejection seat market is carried out on the basis of aircraft type, seat type, and region. On the basis of aircraft type, the aircraft ejection seat market is divided into two segments namely combat aircraft and trainer aircraft. The combat aircraft segment of aircraft ejection seat market is expected to observe a CAGR of 5.32% through the forecast period. On the basis of seat type, the market for aircraft ejection seat consists of single seat and twin seat. The twin-seat segment of aircraft ejection seat market is projected to witness a CAGR of 5.32% during the forecast period. The regions that are included in the market are Europe, North America, Asia Pacific, the Rest of the World.
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Detailed Regional Analysis
The aircraft ejection seat market includes regions such as Europe, North America, Asia Pacific, the Rest of the World. The European region is anticipated to be responsible for the major market stake of 35.42% in 2018, with a market value touching USD 138.6 million, and is estimated to progress at a CAGR of 4.96% during the forecast period. The leadership of the region is attributed to the presence of prominent combat aircraft manufacturers such as Saab, Sukhoi, Dassault, etc. The antagonistic position of Russia in Ukraine and elsewhere has increased the demand for combat aircraft in other European countries. This factor influences the demand for aircraft ejection seats in this region due to which the aircraft ejection seat market in the European region is anticipated to perceive excellent growth in the forecast period.
The North American region is anticipated to be the subsequent principal market in 2018 with a value of USD 111.2 million in 2018. The North American region is likely to observe a CAGR of 5.43% in the forecast period. Though, the Asia Pacific is expected to see the highest CAGR of 5.66% in the duration of the forecast period. However, as the US is the prime line-fit as well as the retrofit market for aircraft ejection seats in the world the North American region is poised to see significant growth in the coming years. This existence of prominent combat aircraft manufacturers such as General Dynamics and Lockheed Martin as well as ejection seat OEMs such as UTC Aerospace is expected to encourage the development of the market further in the coming years. The spending diverted to the defense budget in the US is likely to strengthen the market due to the demand for new fighter jets, destroyers, tanks, Black Hawk helicopters, submarines as well as supersonic weapons.
The players in the aircraft ejection seat market have been implementing a gamut of strategies ranging from product presentations to global ventures to expand and sustain in the market. Modest competition, speedy changes in technology, and advancing integrated solutions are the important factors that are influencing the market development. Vendors contest primarily in terms of product quality, and aircraft compatibility. It is imperative for the players to proffer cost-effective and dependable ejection seat to prosper in the market in future.
NPP Zvezda, AO (Russia), SEMMB (France), Airborne Systems Inc. (UK), Survival Equipment Services Ltd. (UK), Martin-Baker Aircraft Co. Ltd. (UK), UTC Aerospace Systems (US), RUAG Holding AG (Switzerland), EDM Limited (UK), RLC Group (UK) and Clarks Precision Machine Tool (US) are few of the notable players shaping the market for aircraft ejection seat.
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