The global aircraft life jackets market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The incidence of air tragedies is enabling the need for installing the safety and obstacle monitoring system, which in turn is driving the growth of the global aircraft life jacket market. According to the data published by the International Air Transportation Association (IATA), in 2021, the rate of one accident registered for every 9.9 lakh flight. In 2021, 2.5 crore airline passengers were operated out of which 26 met with accidents. out of these 7 were fatal accidents, which accounted for 121 fatalities. Similarly, in 2020,2.22 crore airlines were operated, out of which 35 airlines met with accidents .out of these 5 were fatal accidents, which accounted for 132 fatalities. Thus, owing to numerous tragedies, the adoption of aircraft life jackets is anticipated to fuel the demand of the market during the forecast period.
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Further, owing to the rise in the air traffic and growing demand for air travel, the regulatory bodies such as IATA, Federal Aviation Administration (FAA), and others had referred to the installation of aircraft life jackets to avoid tragedies as well as to ensure the safety of the passengers and crew members. According to International Civil Aviation Organization (ICAO), the total number of passengers carried on scheduled services rose to 4.5 billion in 2019, which is 3.6% higher than in 2018, while the number of departures reached 38.3 million in 2019. The low-cost carriers carried an estimate of 1.4 billion passengers in 2019, which was approximately 31% of the global total scheduled passengers. Further, according to the data published by the Bureau of Transportation Statistics in 2022, the US airlines carried 674 million passengers in 2021, which is 82.5% more than in 2021.
Looking toward the demand for aircraft life jackets, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2020, ABC International launched life vest boxes in the aviation market. The box offers passengers easy access to take life vests in every seating position across the cabin. Thus, such launches are anticipated to drive the growth of the global aircraft life jackets market.
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Competitive Landscape-
Survitec Group Ltd., Biardo Survival Suits, and Zodiac Aerospace among others
By Type
- Large Size
- Small size
By Application
- Aircrafts
- Helicopters
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Scope of the Report
The research study analyzes the Global Aircraft Life Jackets industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Global Aircraft Life Jackets Market Report
1. What was the Global Aircraft Life Jackets Market size in 2019 and 2021; what are the estimated growth trends and market forecast (2022-2028).
- What will be the CAGR of Global Aircraft Life Jackets Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Global Aircraft Life Jackets Market was the market leader in 2021?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the Global Aircraft Life Jackets market.
- The market share of the Global Aircraft Life Jackets market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the Global Aircraft Life Jackets market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the Global Aircraft Life Jackets market.
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