Aircraft Fire Protection Systems Market Worth 1,157.7 Million USD by 2022
PUNE, India, February 9, 2018
PUNE, India, February 9, 2018 /PRNewswire/ --
According to the new research report "Aircraft Fire Protection Systems Market by Product (Fire Detection System, Alarm & Warning, Fire Suppression), Application (Engine, Cabin & Lavatory, APU, Cargo Compartment), Fit (Linefit, Replacement), Aircraft Type and Region - Global Forecast to 2022", published by MarketsandMarkets™ , the market is projected to grow from an estimated USD 911.6 Million in 2017 to USD 1,157.7 Million by 2022, at a CAGR of 4.90% between 2017and 2022.
Browse 75 tables and 33 figures spread through 132 pages and in-depth TOC on "Aircraft Fire Protection Systems Market - Global Forecast to 2022"
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Increasing demand for aircraft, modernization of the existing aircraft, and the replacement of old aircraft with new aircraft which are more fuel efficient and lighter in weight are the few major factors driving the aircraft fire protection systems market.
Based on application, the cargo compartments segment is projected to grow at a higher CAGR during the forecast period
Based on application, the engine segment of the aircraft fire protection systems market is estimated to grow at a higher rate during the forecast period. The growth of this segment can be attributed to the large number of smoke detectors and automated fire suppression systems. Cargo compartments are installed with extra layers of enhanced fire protection systems as aircraft crew is unable to enter cargo compartments during flight.
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Based on product, the fire suppression systems segment is projected to grow at the highest CAGR during the forecast period
Based on product, the fire suppression systems segment of the aircraft fire protection systems market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for new aircraft from airlines coupled with mandates laid by various regulatory bodies over replacement of the fire suppression agents with halon free agents for both, existing and new fleets.
Based on fit, the linefit segment is expected to grow at a higher CAGR than the retrofit segment during the forecast period
Based on fit, the linefit segment of the aircraft fire protection systems market is projected to grow at a higher CAGR than the retrofit segment during the forecast period. The higher growth rate of the linefit segment is attributed to the increase in aircraft orders as well as deliveries, economic growth across regions, and an increase in air passenger traffic.
Based on aircraft type, the civil aircraft segment is estimated to grow a higher CAGR during the forecast period
Based on aircraft type, the civil aircraft segment is projected to grow at a higher CAGR during the forecast period. The civil aircraft segment has been witnessing significant growth in the past few years due to increasing air traffic and rise in the disposable incomes of middle-class populations across the globe. Increased demand for new aircraft around the world is also fueling the growth of the civil aircraft segment.
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The Asia Pacific market is expected to witness the highest growth during the forecast period
Among regions, the aircraft fire protection systems market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period. The aviation industry is growing at a significant pace, due to increasing air passenger traffic and improving economic conditions in the region. The growth in air passenger traffic has resulted in increased demand for new lightweight and fuel-efficient aircraft from the region. In addition, new emerging aircraft manufacturers in China, Japan, and India are expected to fuel the demand for aircraft fire protection systems during the forecast period.
Major companies profiled in the aircraft fire protection systems market report are United Technologies (US), Meggitt (UK), Diehl Aerospace (Germany), Siemens (Germany), Halma (UK), Advanced Aircraft Extinguishers (US), Gielle Industries (Italy), H3R Aviation (US), Amerex Corporation (US), and Aerocon Engineering (US), among others.
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