North America Aviation Life Rafts Market Growth Opportunities and Forecast by 2027
Historic Data: 2017-2018 | Base Year: 2019 | Forecast Period: 2020-2027North America Aviation Life Rafts Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Capacity (Large-sized Life Rafts, Medium-sized Life Rafts, and Small-sized Life Rafts), Type (Single Tube Life Raft and Multi-tube Life Raft), and Application (General Aviation, Military/Defense Aviation, and Commercial Aviation)
- Report Date : Nov 2020
- Report Code : TIPRE00016248
- Category : Aerospace and Defense
- Status : Published
- Available Report Formats :
- No. of Pages : 103
The North America aviation life rafts market is expected to grow from US$ 302.34 million in 2019 to US$ 664.02 million by 2027; it is estimated to grow at a CAGR of 10.1 % from 2020 to 2027.
The US, Canada, and Mexico are major economies in North America. Focusing and emphasizing more on shipment volumes of general aviation aircraft fleet is expected to upswing the North America aviation life rafts market growth. The North America general aviation sector is growing at an exponential rate over the years, with continuously increasing volumes of orders and deliveries. The demand for general aviation aircraft is majorly attributed to the rise in purchase of business and corporate jets in countries across North America. The presence of a large number of general aviation aircraft manufacturers across the North America is showcasing the rise in orders and deliveries year-on-year. At present, various general aviation aircraft original equipment manufacturers (OEMs) are emphasizing on increasing the flight range and endurance of the aircraft models to facilitate operator to fly the aircraft over a longer distance. The increase in flying range has led the general aviation aircraft industry to witness transoceanic flying operations. This factor has increased the procurement of life rafts among the general aviation aircraft manufacturers and operators, thereby catalyzing the growth of the market. So, more focus on shipment volumes of general aviation aircraft fleet by the manufacturers is expected to increase the demand of aviation life rafts, which will drive the North America aviation life rafts market.
Moreover, North America is highly affected by the outbreak of COVID-19 virus, specially the US. Since the US has a larger density of aircraft manufacturers and component manufacturers including life raft manufacturers, the outbreak has severely affected the production of each. The lower number of manufacturing staff has resulted in lesser production quantity. On the other hand, the procurement rate of life rafts among the aircraft manufacturers, the airlines, general aviation aircraft operators, and the military forces have stalled pertaining to the lesser production of aircraft and lesser air travel. Similarly, the military forces have refrained from procuring the usual quantity of the life raft. Thus, the factors mentioned above have had a negative impact on the aviation life rafts market. On the other hand, the Canadian and North America Aviation Life Rafts market is also experiencing slower than usual growth due to the COVID – 19 outbreaks. Several airlines, general aviation aircraft operators, aircraft OEMs, operate in the two countries. The life raft manufacturers in these two countries are experiencing a downfall in production quantities, orders and deliveries, and revenues, which has been negatively affecting the aviation life rafts market
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America aviation life rafts market. The North America aviation life rafts market is expected to grow at a good CAGR during the forecast period.
North America Aviation Life Rafts Market
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
North America Aviation Life Rafts Market Segmentation
North America Aviation Life Rafts Market – By Capacity
- Large-sized Life Rafts
- Medium-sized Life Rafts
- Small-sized Life Rafts
North America Aviation Life Rafts Market – By Type
- Single Tube Life Raft
- Multi-tube Life Raft
North America Aviation Life Rafts Market – By Application
- General Aviation
- Military/Defense Aviation
- Commercial Aviation
North America Aviation Life Rafts Market, by Country
- US
- Canada
- Mexico
North America Aviation Life Rafts Market - Companies Mentioned
- AVI Aviation
- Collins Aerospace Systems
- EAM Worldwide
- Legend Aerospace
- Life Support International, Inc.
- Revere Survival Inc.
- Safran S.A
- Survitec Group Limited
- Switlik Parachute Co.
North America Aviation Life Rafts Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 302.34 Million |
| Market Size by 2027 | US$ 664.02 Million |
| Global CAGR (2020 - 2027) | 10.1 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Capacity
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
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- AVI Aviation
- Collins Aerospace Systems
- EAM Worldwide
- Legend Aerospace
- Life Support International, Inc.
- Revere Survival Inc.
- Safran S.A
- Survitec Group Limited
- Switlik Parachute Co.
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