Market Size of Aircraft Survival Equipment Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 4.56 Billion |
| Market Size (2029) | USD 5.97 Billion |
| CAGR (2024 - 2029) | 5.54 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aircraft Survival Equipment Market Analysis
The Aircraft Survival Equipment Market size is estimated at USD 4.56 billion in 2024, and is expected to reach USD 5.97 billion by 2029, growing at a CAGR of 5.54% during the forecast period (2024-2029).
The COVID-19 pandemic significantly affected the Aircraft Survival Equipment Market. The onset of COVID-19 led to lockdowns in various countries and restrictions in terms of travel between countries, thereby leading to shortages in components for manufacturing and delays in terms of manufacturing the final end product. In the current scenario, the free flow in terms of trade between countries, owing to the ease of restrictions, has led to the market witnessing an increase in terms of production. This would lead to steady growth in the near future for the aircraft survival equipment market.
The aircraft survival equipment consists of a package of basic tools and kits used for survival in an emergency. All types of aircraft are equipped with survival kits for improved safety during flight hours. The electronic support equipment is installed in an aircraft to improve its survival. It includes flight control, avionics, navigation, and communication systems. Furthermore, electronic attack systems are used to protect aircraft from enemy attacks and damage from external threats. Thus, the growing demand for fighter aircraft for combat operations drives the market growth.
In addition, the rapid expansion of the aviation sector, growing air traffic, and rising aircraft orders create demand for aircraft survival equipment. Furthermore, various governing bodies tighten the safety norms due to an increase in the number of accidents and mishaps occurring around aircraft, which in turn drives the market growth.
