Aircraft Survivability Equipment Market 2024 - Industry Size, Future Insights, Growth Drivers And Top Players

The Business Research Company recently released a comprehensive report on the Global Aircraft Survivability Equipment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The aircraft survivability equipment market size has grown strongly in recent years. It will grow from $4.12 billion in 2023 to $4.4 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to military modernization programs, enhanced survivability measures, increased focus on electronic warfare, cold war era innovations, integration of defensive systems..

The aircraft survivability equipment market size is expected to see strong growth in the next few years. It will grow to $5.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to demand for retrofit and upgrades, focus on cyber resilience, integration of ai and machine learning, intelligent countermeasure systems, development of directed energy weapons.. Major trends in the forecast period include advanced threat detection systems, integrated defensive systems, adoption of directed energy weapons, miniaturization and weight reduction, enhanced electronic warfare capabilities..

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Market Drivers and Trends:

The increasing air accidents is expected to drive the growth of the aircraft survivability equipment market. Air accidents are defined as incidents connected to an aircraft's operation that occur after someone onboard the aircraft. Aircraft survivability equipment (ASE) is a suite of systems designed to protect aircraft from being attacked using missile detection, warning, and tracking technologies, signal jamming, chaff and flare dispensers, and infrared laser beam countermeasures. For instance, in March 2023, according to the International Air Transport Association, a Canada-based trade association, the number of air accidents in 2021 was 29, which increased to 39 in 2022. Therefore, the increased number of aircraft is driving the growth of the aircraft survivability equipment market.

Major companies operating in the aircraft survivability equipment market are developing innovative products such as seat liferaft to meet larger customer bases, increase sales, and increase revenue. A seat liferaft is a type of liferaft designed for single-person occupancy that inflates automatically when released from the aircraft. For instance, in March 2022, Survitec Group, a UK-based aerospace company, launched a smaller, lighter single-seat life raft (SSLR) to equip military fast jet pilots better. This innovative SSLR is designed to be more compact and easier to deploy than previous models, making it a more effective survival tool for pilots who are forced to eject from their aircraft over water. The new SSLR is made from lightweight materials and has a compact design that makes it easier to stow in the cockpit of a fast jet aircraft. The raft also features a new inflation system faster and easier to use than previous models. It also includes features such as a new inflation system, military-grade construction, and certification to meet military standards.

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Major Key Players of the Market:

United Technologies Corporation, Lockheed Martin Corporation, Boeing Rotorcraft Systems, Raytheon Company, Airbus SE, Northrop Grumman Corporation, BAE Systems plc, Harris Corporation, Thales Group, L3 Technologies Inc., Leonardo S.p.A., Textron Inc., Rheinmetall AG, Elbit Systems Ltd., Israel Aerospace Industries Ltd., Saab AB, General Dynamics Corporation, Sikorsky Aircraft, Moog Inc., Curtiss-Wright Corporation, Cobham Limited, Orbital ATK Inc., FLIR Systems Inc., Ultra Electronics Holdings plc, Chemring Group, Cobham plc., Aselsan A.S., Terma A/S, Esterline Technologies Corporation, Edo Corporation Ltd.

Aircraft Survivability Equipment Market 2024 Key Insights:

• The aircraft survivability equipment market is expected to grow to $5.57 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%.
• Increasing Accidents Boost The Aircraft Survivability Equipment Market
• Innovative Seat Liferaft Solutions Enhancing Aircraft Survivability Equipment
• North America was the largest region in the aircraft survivability equipment market in 2023.

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