In terms of revenue, the global aviation life rafts market was valued at US$ 709.40 million in 2019 and is projected to reach US$ 1,524.52 million by 2027; it is expected to grow at a CAGR of 9.9% during the forecast period from 2020 to 2027.
The aviation life rafts market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. Europe is the fastest-growing region globally due to factors such as the presence of many aircraft manufacturing companies, rising investment for creating a business hub that demands a large number of corporate and business jets, and investments in research & development activities. The APAC region is expected to witness moderate growth during the forecast period propelled by factors such as growing demand for commercial and freight aircraft, increasing the number of assembly/manufacturing plants of top aircraft manufacturers, such as Airbus and Boeing. For instance, Boeing is planning to develop manufacturing bases in Southeast Asia. In November 2019, Airbus signed a contract with China to start its airline production in the country. Boeing is also looking to ramp-up its production plan in India in the future. Hence, these above factors present various aviation life rafts manufacturers with opportunities to offer their products and services to top aircraft manufacturers and aircraft engine manufacturers.
Lucrative Regional Aviation Life Rafts Markets
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights–Aviation Life Rafts Market
Shorter Service Life of Aviation Life Rafts
The aviation life rafts market players are experiencing substantial demand for their products from different end users such as defense and general aviation aircraft manufacturers, military forces, and general aviation aircraft operators. Considering the fact that the general aviation aircraft operators or military forces must replace the life rafts every three years, the demand for life rafts is propelling in these sectors.
The players operating in the aviation life rafts market offer their products with a service life of more than ten years; however, the life rafts' service life is restricted to three years. The shorter service life allows the end user to mount newer life rafts every three years, thereby benefiting the end user by ensuring smooth inflation and further operations of the raft during any water landing mishaps.
The benefit of replacing the life rafts every three years has been attracting a substantial number of helicopter and general aviation manufacturers and operators, which is propelling the growth of the aviation life rafts market in the current scenario.
COVID-19 Impact
The recent outbreak of the Coronavirus has significantly affected the world and is continuing to shatter several countries. Until the outbreak of COVID – 19, the aerospace industry was experiencing substantial growth in terms of production, despite huge backlogs among the aircraft manufacturers; however, the global aviation industry witnessed a significant rise in the number of passenger counts, an increase in aircraft procurement (commercial, general and military).
The outbreak of COVID – 19 has decimated the demand for aircraft across the end users (general aviation, commercial aviation, and military aviation). This has reflected lesser demand for ancillary products such as aviation life rafts. In addition to procurement of aircraft fleet, several commercial airlines have retired a fair percentage of their widebody jets which demanded higher volumes of evacuation slides/rafts. This factor is anticipated to showcase slowdown in procurement of life rafts, thereby hampering the growth of the aviation life rafts market. Moreover, the limited manpower at the raft manufacturing units also weakened the production rate, thereby reflecting slowdown in the growth of the aviation life rafts market.
Capacity Segment Insights
Based on capacity, the large size life rafts segment dominated lead the global aviation life rafts market in 2019. The market for large-sized life rafts is exponentially increasing due to the growing focus of aircraft manufacturers on reducing their operational expenses and accommodate more number of passenger with the use of fewer rafts. Additionally, the rising manufacturing of new commercial aircraft is also boosting the global aviation life rafts market.
Type Segment Insights
Based on type, the multi-tube life rafts segment dominated the global aviation life rafts market in 2019. The multi-tube life rafts are the rafts with more than one tube, i.e., double/twin-tube or more than that. The double tube rafts comprise larger tubes that offer greater freeboard and higher reserve buoyancy than smaller ones. These tubes also comprise of the supportive backrest and have a capacity of handling 6-12 people. The double-tube Type I life rafts are usually integrated into larger corporate and transport aircraft.
Application Segment Insights
Based on application, the commercial aviation dominated the global aviation life rafts market in 2019. The increase in commercial aircraft manufacturing highlights the future demand for evacuation slides or rafts among the commercial aircraft manufacturers. The increase in manufacturing and commercial aircraft deliveries is directly proportional to the rise in aviation life rafts.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aviation Life Rafts Market: Strategic Insights
Market Size Value in US$ 709.40 Million in 2019 Market Size Value by US$ 1,524.52 Million by 2027 Growth rate CAGR of 9.9% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Aviation Life Rafts Market: Strategic Insights
| Market Size Value in | US$ 709.40 Million in 2019 |
| Market Size Value by | US$ 1,524.52 Million by 2027 |
| Growth rate | CAGR of 9.9% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
The market players focus on new product innovations and developments by integrating advanced technologies and features in their products to compete with the competitors.
- In 2020, Safran signed a maintenance contract for the emergency flotation system of the US Coast Guard HH-65 helicopter fleet. The 5-year agreement includes the maintenance of the flotation systems of all 98 HH-65 Dauphin helicopters used by the US Coast Guard during their various missions.
- In 2020, Safran strengthened its network of approved flotation systems repair centers by selecting Arrow Aviation. With this selection, the company now has seven maintenance centers dedicated to emergency floatation systems.
- In 2018, AVI Aviation completed the acquisition of Survival Products, Inc., a prominent manufacturer and service provider of life rafts since 1970. This acquisition would help AVI Aviation capture emergency equipment sales and service opportunities in the general and business aviation market..
The global aviation life rafts market has been segmented as follows:
Aviation Life Rafts Market – By Capacity
- Large-sized Life Rafts
- Medium-sized Life Rafts
- Small-sized Life Rafts
Aviation Life Rafts Market – By Type
- Single Tube Life Raft
- Multi-tube Life Raft
Aviation Life Rafts Market – By Application
- General Aviation
- Military/Defense Aviation
- Commercial Aviation
Aviation Life Rafts Market- By Region
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Aviation Life Rafts Market – Companies Profiles
- EAM Worldwide
- Life Support International, Inc.
- Revere Survival Inc.
- Safran Group
- Survitec Group Limited
- AVI Aviation
- Collins Aerospace
- Meridian Inflatables Private Limited
- Switlik Parachute Co.
- Legend Aerospace
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Capacity ; Type ; Application ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The aerospace and military sector globally is strategically booming with increasing government spending. The subsequent demand for safety equipment to be used in case of emergency landing on water is expected to create increased opportunities for the aviation life rafts manufacturer. Currently, the market is principally dominated by developed regions such as North America followed by Europe, cumulatively accounting for ~70% of the global market.
The growing demand for business jets and corporate jets has been surging notably, reflecting higher volumes of deliveries from the general aviation aircraft manufacturers. According to the General Aviation Manufacturers Association (GAMA), the manufacturers of business jets delivered 676, 703, and 809 aircraft in 2017, 2018, and 2019 respectively. Apart from business jets, the piston aircraft manufacturers also delivered 1,085 aircraft in 2017, 1,137 aircraft in 2018, and 1,324 aircraft in 2019. On the other hand, the turboprop aircraft manufacturers supplied 563 aircraft in 2017, 592 aircraft in 2018, and 525 aircraft in 2019. All types of general aviation aircraft carry two life rafts while flying overseas. The statistics mentioned above, coupled with the mandate of carrying life rafts on aircraft, highlights the demand for life rafts among the general aviation aircraft manufacturers. Thus, the accentuating shipment volumes of the general aviation aircraft fleet is positively influencing the growth of the aviation life rafts market.
The growing general aviation aircraft shipment is creating enormous opportunity for aviation life rafts manufacturers to develop advanced and efficient products to meet the requirement of aircraft OEMs. These aircrafts are capable of mounting medium and small sized life rafts, used during an emergency water landing in long haul travel. The constant growth in the government investment towards the development of business hub globally, is the another factor propelling the demand of corporate and business jets, which in turn support the growth of aviation life rafts market.
The List of Companies - Aviation Life Rafts Market
- EAM Worldwide
- Life Support International, Inc.
- Revere Survival Inc.
- Safran Group
- Survitec Group Limited
- AVI Aviation
- Collins Aerospace
- Meridian Inflatables Private Limited
- Switlik Parachute Co.
- Legend Aerospace
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Aviation Life Rafts Market
Oct 2020
Oct 2020
Advanced Air Mobility Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software), Operation Mode (Piloted, Autonomous), Propulsion Type (Fully Electric, Hybrid), End Use (Passenger, Cargo)
Oct 2020
Airport Fueling Equipment Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Tanker Capacity (Below 5,000 Liters; 5,000–20,000 Liters; and Above 20,000 Liters), Aircraft Type (Civil Aircraft and Military Aircraft), and Power Source (Electric and Non-Electric)
Oct 2020
Satellite Optical Ground Station Market
Forecast to 2028 - Global Analysis by Operation (Laser Satcom and Optical Operations), Equipment (Consumer Equipment and Network Equipment), Application (Laser Operations, Debris Identification, Earth Observation, and Space Situational Awareness), and End User (Government and Military and Commercial Enterprises)
Oct 2020
Electro-Optics in Naval Market
Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Camera, Sensor, and Laser Range Finder), Application (Target Detection, Identification, and Tracking; Surveillance; Fire Control; and Others), and End Use (Defense and Commercial)
Oct 2020
Commercial Air Traffic Management Market
Forecast to 2030 - COVID-19 Impact and Global Analysis By Type (Air Traffic Services, Air Traffic Flow Management, and Airspace Management), Component (Hardware and Software), Application (Communication, Navigation, Surveillance, Traffic Control, and Others), and Airport Class (Class I, Class II, Class III, and Class IV)