Aircraft Arresting System Market
Aircraft Arresting System Market Size Valued at USD 1.3 Billion, market Grow at a CAGR Of 7.15% by 2023 -2032. Generally, the arresting aircraft system can absorb the aircraft momentum in an emergency, aborted take-off, and routine landing, stopping an aircraft. These systems are used to assist in securing aircraft landing, providing enhanced safety to pilots and passengers.
The demand for Aircraft Arresting Systems Market Insights is growing across the globe because of the safe landing of the aircraft on the runway of sea-based and land-based platforms. Recently, the Federal Aviation Administration (FAA) has ordered the installation of Engineered Material Arresting System (EMAS) at all the airports in the US, and it is mandatory to have inadequate runway safety length. This has encouraged the market players to enhance their production and supply in the upcoming years.
As per the Aircraft Arresting System Market Analysis, the European region is projected to generate remarkable growth in the forecast period due to major key market players such as SCAMA AB, Safran, Runaway Safe, and others in the region. Moreover, the growing demand for aircraft arresting systems from various countries like the UK, Germany, France, and others is driving the regional market growth. Other parts of the world are projected to witness moderate growth because of the rising investments in runaway safety and increasing aircraft deliveries.
Competitive Landscape Analysis
The Aircraft Arresting System Market Forecast report highlights that the present market witness’s significant competition among the key market players. These key market players are:
- General Atomics (US),
- SCAMA AB (Sweden),
- Curtiss-Wright Corporation (US),
- A-laskuvarjo (Finland),
- Safran (France),
- ESCRIBANO Mechanical and Engineering (Spain),
- Bridon-Bekaert (UK),
- QinetiQ (UK),
- WireCoWorldGroup (Paris),
- Runway Safe Sweden AB (Sweden).
These market players are adopting advanced tactics and strategies to generate their customer base in the global market. These strategies include promotions, new product launches, innovation, and many more to propel the global Aircraft Arresting System Market Sizeduring during the analysis period.
Market Dynamics
- Key Market Drivers
The global Aircraft Arresting System Market Outlook is expected to boost market growth due to the increasing installation of EMAS at various countries' airports to avoid aircraft overruns. Moreover, the rising air passenger traffic is expected to drive the growth of Aircraft Arresting System Market Trends. In addition, the market growth is predicted to boost up in the coming years due to stringent government regulations related to runway safety and aircraft.
In 2019, EMAS equipped more than 110 runways that end on more than 70 US airports. EMAS installation has taken place at Taipei Songshan in Taiwan; at Madrid Barajas, Spain; at Jiuzhai-Huanglong, Peoples Republic of China; and others. As a result, the demand for Aircraft Arresting System Market has increased in the analysis period.
- Market Opportunities
According to the Aircraft Arresting System Market Outlook report, the global market will bring more opportunities due to the increasing investments made in airports' up-gradation and modernization.
Moreover, the subsequent demand for runway safety and passengers is predicted to bring more opportunities for the manufacturers and vendors. For instance, the increase in passenger traffic also projects lucrative opportunities for the Aircraft Arresting System Market during the analysis period.
- Market Restraints
The high development cost of Aircraft Arresting systems is expected to hinder the growth of the global Aircraft Arresting System Market.
Further, the Aircraft Arresting System Market Size might face restraints due to the complexity of the operation process and lack of professionalism in operating the Aircraft Arresting System.
- Market Challenges
The Aircraft Arresting System Market manufacturers might face major challenges due to the high cost of the Aircraft Arresting System and its installation.
Furthermore, the unprecedented covid-19 pandemic has disrupted the supply and manufacturing chain, which was a major challenge for the global Aircraft Arresting System Market.
Cumulative Growth Analysis
The Aircraft Arresting System Market Trends are expected to generate a significant market share in the forecast timeframe due to different technological developments across the world.
Further, the growing market segments demands and engagement of new market players from different parts of the world to the global market is expected to generate higher Aircraft Arresting System Market growth in the upcoming years.
Market Segmentation
- By Type:
In terms of type segment, the worldwide Aircraft Arresting System Market has been segregated into Mobile Aircraft Arresting System (MAAS), Net Barrier, Cable, Aircraft Carrier Arresting System, and Engineered Material Arresting System (EMAS).
Out of all, the EMAS segment is estimated to expand at the highest CAGR during the review period. Hence, the stringent government regulations related to EMAS installation and high adoption of EMAS by different countries' airports are expected to thrive the global Aircraft Arresting System Market Growth over the research period.
- By Platform:
The global Aircraft Arresting System Market has been divided into Ship-based and Ground-based based on the platform segment.
The ship-based segment is expected to create the highest CAGR during the analysis period. The demand for the ship-based segment is growing due to the increasing replacement of conventional systems with the ship-based system.
- By System:
On the basis of system segment, the Global Aircraft Arresting System Market has been classified into Portable System and Fixed System.
The fixed system segment is accounted to register the largest Aircraft Arresting System Market Share during the forecast period. This segment is expanding due to the growing territorial disputes across the globe is projected to drive the Aircraft Arresting System Market Growth.
- By End-users:
On the basis of end-user segment, the current Aircraft Arresting System Market has been classified into Commercial Airport, Aircraft Carrier, and Military Airbase.
As per the Aircraft Arresting System Market Forecast report, the military airbase segment is registered to expand at the highest CAGR in the research timeframe. The demand for the military airbase segment is boosting up due to the rising procurement of jet aircraft by developing and developed economies.
Regional Analysis
According to the Aircraft Arresting System Market Outlook report, the regional areas like North America, Asia Pacific, the Middle East, Africa, Latin America, Europe, and others are enhancing the global market growth.
The North American market is projected to register the largest Aircraft Arresting System Market Share for the assessment period. The North American region is driving the market growth due to key prominent players like Curtiss-Wright Corporation and General Atomics in the region. Furthermore, the Asia Pacific Aircraft Arresting System Market is anticipated to expand at the fastest CAGR for the assessment period due to the rising adoption of aircraft arresting systems by various countries like Australia and others. Moreover, the rising defense expenditure of developing economies like China and India is thriving the global market growth in the forecast timeframe.
Aircraft Arresting System Market Research Report: Information by Type (Cable, Net Barrier, Mobile Aircraft Arresting System, Engineered Materials Arresting System (EMAS), Aircraft Carrier Arresting System), by System (Fixed, Portable), by Platform (Ground-Based, Ship-Based), by End User (Commercial Airport, Aircraft Carrier, Military Airbase), and by Region — Global Forecast till 2030
Related Link:
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