The global aircraft ejection seat market size is projected to experience dynamic growth in the forthcoming years owing to the increasing demand for cost-efficient aircraft systems across the world, finds Fortune Business Insights™ in its report, titled “Aircraft Ejection Seat Market, 2022-2029”. Aircraft ejection seat is a technologically advanced device that is designed to rescue the aircraft pilot during the occurrence of an air-crash. There has been a rising demand for aircraft ejection seats owing to the increasing demand for cost-effective aircraft systems across the world. This is a major factor responsible for the growth of this market during the forecast period. However, the relatively high cost of installation of the aircraft ejection seats is projected to impede the growth of this market.
List of Key Players Covered in the Aircraft Ejection Seat Market Report:
Airborne Systems Inc.( The U.S.), Clarks Precision Machine & Tool (The U.S.), EDM Limited (The U.K.), Martin-Baker Aircraft Co. Ltd (The U.K.), RLC Group (The U.K.), NPP Zvezda, AO (Russia), RUAG (Switzerland), Survival Equipment Services Ltd.(The U.K.), United Technologies Corporation (The U.S.).
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COVID-19 Impact:
The COVID-19 pandemic has had a huge impact on industries and businesses worldwide. Further, due to the rising lockdown restrictions and social distancing norms, the demand for aircraft ejection seat has decreased during this pandemic and the leading companies in this market have incurred huge losses due to the travel restrictions being imposed all over the world, posing challenges for the key companies in this market.
Market Segmentation:
On the basis of fit, this market is categorized into line-fit and retro-fit. Based on aircraft type, the market is divided into combat aircraft and trainer aircraft. By seat type, the market is classified into single seat and twin seat. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, and the Rest of the World.
Highlights/Summary:
This research report offers an in-depth study of the driving factors, restraints and trends influencing the growth of the market. In addition, this report offers a detailed evaluation of the market segments and regional developments in the market. Further, this report also incorporates a comprehensive analysis of the strategies adopted by market players to strengthen their position.
Drivers/Restraints:
Growing Defense Budgets from the Developing Nations to Fuel the Market
In recent years, developing nations such as India, China, and others are focusing on increasing their defense budgets by implementing various defense programs and increasing their investments in defense and military operations. Thus, this is an important factor contributing to the growth of this market.
Regional Insights:
Increasing Number of Aerospace Companies to Boost the North America Market Growth
North America region is anticipated to witness significant growth in the aircraft ejection seat market share on account of the increasing number of aerospace and defense companies in the countries such as the US and Canada.
Asia Pacific region is projected to grow at a decent pace in this market due to the increasing demand for fifth-generation fighter jets from the countries such as India and China.
Competitive Landscape:
Development of Reliable Aircraft Ejection Seats by Key Players to Feed Competition
The prominent companies in the aircraft ejection seat market are focusing on developing reliable and cost-effective aircraft ejection seats that are beneficial during the occurrence of war and air-crash. This has resulted in the increasing competition among key companies which will help them to diversify their portfolio and strengthen their market foothold.
Industry Development:
October 2020: Collins Aerospace and the U.S. air force had signed a contract with a valuation of USD 700 million to procure the field ejection seat systems for the combat aircraft of the U.S. The field ejection seat systems were installed in the combat aircraft such as F-15, F-16 and F-22.
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