Aircraft Ejection Seat Market Insights to Undertake Strapping Growth at CAGR of the End 2032
Aircraft Ejection Seat Market
Aircraft Ejection Seat Market Size was valued at USD 3.5 billion in 2022. The Aircraft Ejection Seat market industry is projected to grow from USD 3.68375 Billion in 2023 to USD 5.54711 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.25% during the forecast period (2023 - 2032).
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 insight in the upcoming forecast period.
Market Segmentation:
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.
Key Players:
The aircraft ejection seat key market players are Clarks Precision Machine & Tool, Airborne Systems Inc, Survival Equipment Services Ltd, NPP Zvezda AO, United Technologies Corporation
Regional Analysis:
The aircraft ejection seat market industry Size 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.
Related reports:
- Aircraft Evacuation Systems Market Research Report: Information by Fit (Line-fit and Retrofit), Equipment Type (Evacuation Slides, Life Rafts, Emergency Floatation System, Personal Floatation Devices and Ejection Seat), Aircraft Type (Fixed Wing and Rotary Wing) and Region (North America, Asia-Pacific, Europe, the Middle East & Africa and Latin America) - Global Forecast till 2027
- Military Airborne Radar Market by Radar Type (Detection & Search, Targeting, Navigation, Other), Application (Surveillance, Weapon Guidance & others), Frequency Band (X & Ku, S & L, Others), & Region- Forecast to 2027
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