The global aircraft arresting system market size is projected to experience robust growth in the forthcoming years due to the growing aviation industry. This information is published by Fortune Business Insights in its report, titled “Aircraft Arresting System Market, 2022-2029“. All of the components that are utilized to specifically stop an aircraft by absorbing its momentum during a regular landing, an emergency landing, or an aborted takeoff are included in this system. The market is expanding due to rising demand for the product from many commercial airlines throughout the globe. Also, during the forecast period, new airport construction is likely to fuel market growth.
Aircraft Utilization Amid Pandemic to Surge Demand
The COVID-19 shut down several airports globally to curb the spread of the coronavirus. After the lockdown has been uplifted, the airports experienced massive traffic. Moreover, the healthcare sector is experiencing a rise in the use of the aviation sector to airlift critical patients as well as medical supplies such as oxygen during the pandemic. For example, the Indian Air Force airlifted 9 cryogenic oxygen containers from Dubai and Singapore in April 2021 and landed in the airbase of Panagarh, West Bengal according to official statements by Indian Air Force. This has effectively boosted the demand for such aircraft arresting systems from the government and military sector who provide healthcare facilities.
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List of Key Players Profiled in the Market:
- A-Laskuvarjo (Finland)
- Atech Inc. (The U.S.)
- Aries Test Systems and Instrumentation (The U.S.)
- Curtiss-Wright Corp. (The U.S.)
- Escribano Mechanical & Engineering (Spain)
- Foster-Miller, Inc. (The U.S.)
- General Atomics (The U.S.)
- Runway Safea (Sweden)
- Scama Ab (Sweden)
- Victor Balata Belting Company (The U.S.)
- Wire Rope Industries (The U.S.)
- Wireco Worldgroup (The U.S.)
- Zodiac Aerospace ( France)
By type, the market is segmented into the net barrier, cable, mobile aircraft arresting system (MAAS), engineered materials arresting system (EMAS), and aircraft carrier arresting system. Based on the system, the market is bifurcated into fixed and portable. Based on the platform, the market is categorized into ground-based and ship-based. Based on end-user, the market is classified into a commercial airport, aircraft carrier, and military airbase. Based on geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What Does the Report Contain?
The report offers an insight into the profitability, entire structure, and scale. It also studies the drivers and restraints and considers all the potential threats to the market. The critical analysis of marketplace sections, prediction analysis, and expert insights are strategically included in the report. A wide spectrum of data, including regional analysis, market segmentation, industry developments, and key players, are included in the research conducted by market experts.
Drivers & Restraints
Flourishing Aviation Industry to Spur Demand
The growing aviation industry in both private and public terms is expected to propel the aircraft arresting system market growth. The extensive use of the system in defense aircraft in the military as well as passenger airplanes is expected to generate high revenue. The busy lifestyle of the working professionals has led to the extensive use of flights to travel especially for business travel which makes the market more lucrative.
Another factor driving market growth over the forecast period is the modernization of commercial airports with EMAS to improve runway safety. During the projected timeframe, governments and enterprises are likely to invest in the development of new arresting gear for aircraft carriers, resulting in new market possibilities for the major players.
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Widespread Demand for Clean-Label Products to Boost the North America Market
North America to hold the largest aircraft arresting system market share in the forthcoming years. This is due to the flourishing aviation industry in the region. Furthermore, prominent companies such as Aries Test Systems and Instrumentation have their base in the region which makes the technology easily available to the consumers in the region.
Asia Pacific is estimated to show substantial growth in the thermal screening industry with the expansion of the aerospace and defense sector. The rising tension over border issues between neighboring countries in Asia-Pacific is expected to propel the sales of this system during the foreseeable future.
Eminent Companies Invest in R&D to Aid Market Growth
The competitive landscape of the industry has several prominent players. This is a research extensive industry and requires high investment to get lucrative returns in the aircraft arresting system industry. The R&D in the industry is rapidly expanding the application of the product in various sectors which are expected to give high returns on investment. The number of industries using this technology is expected to grow and make space for even the new entrants of the market. The businesses are expected to grab further market opportunities by expanding their geographical footprint.
Inquiry before Buying:
- August 2020: San Diego International Airport had struck a deal with Runway Safe to deliver a technically sophisticated EMASMAX engineered material arresting system (EMAS), a type of aircraft arresting system to be setup in the fiscal year of 2021.
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