Market Research Future (MRFR) expects the global aircraft arresting system market to achieve a growth rate of close to 6.25% during the forecast period (2018-2023).
Prominent vendors shaping the worldwide Aircraft Arresting System Market are ESCRIBANO Mechanical and Engineering (Spain), QinetiQ (UK), A-laskuvarjo (Finland), WireCo WorldGroup (Paris), Curtiss-Wright Corporation (US), Runway Safe Sweden AB (Sweden), Safran (France), Bridon-Bekaert (UK), General Atomics (US), SCAMA AB (Sweden), to name a few.
By expanding their geographical presence, various companies are striving to capture better market opportunities. In addition, advancements in aircraft arresting systems to bring down the number of operators and maintenance hours are projected to get the attention of the military and commercial operators in the review period.
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Growth Boosters and Key Barriers
Aircraft arresting system helps stop an aircraft during an emergency, routine landing, and aborted takeoff, by absorbing its momentum. These systems help improve safety of passengers and pilots by aiding in secure aircraft landing.
Increasing installations of aircraft arresting system at airports to reduce aircraft traffic have emerged as a major trend in the market. Developments in arresting gear technologies coupled with mounting demand for naval carriers also boost the demand for aircraft arresting systems. Thus, high expenditure on runway safety measures is deemed to benefit the aircraft arresting system market in the coming years. Also, procurement, as well as upgradation of aircraft carriers, will also favor the aircraft arresting system market, especially among military system manufacturers.
Federal aviation administration (FAA) mandate to install Eco-Management and Audit Scheme (EMAS) and upgrade aircraft carriers can do wonders for the aircraft arresting system market during the evaluation period. In the forthcoming years, the global aircraft arresting system market is projected to observe a host of technological advancements for applications at commercial airports.
For better analyzation of the global aircraft arresting system market, MRFR has enlisted the primary segments of type, system, platform, and end-user.
With regard to the type, the market is considered for net barrier, cable, Aircraft Arresting System (MAAS), Mobile, Engineered Materials Arresting System (EMAS) and aircraft carrier arresting system. In 2017, cable was the leading segment in the global market. But the EMAS segment can obtain the highest growth rate in the coming years, due to strict government regulations with regard to installation of EMAS at airports that have runway safety length lesser than 1,000 feet.
System-wise, the market caters to fixed and portable. The fixed system segment led the market in 2017, backed by rising territorial disputes across various regions in the world.
Depending on the platform, the market includes ground-based and ship-based. The ship-based segment can achieve maximum CAGR in the years to come. Increasing replacement of traditional systems with ship-based aircraft arresting system augments demand for the segment.
In context to the end-user, the market is divided into aircraft carrier, commercial airport, and military airbase. The military airbase segment is poised to grow at the highest rate, thanks to the increasing procurement of jet aircraft by various economies. Moreover, mounting need to construct temporary runways also elevates segmental demand in the market.
Europe, North America, Asia Pacific (APAC), and Rest of the World (RoW) are the main markets for arresting system identified in the MRFR report.
In 2017, North America had gained the top spot in the worldwide aircraft arresting system market, due to mandatory installation of engineered material arresting systems by the FAA along with up-gradation programs of aircraft carriers. Moreover, rising use of Ford-class aircraft carriers instead of Nimitz class aircraft carriers, as part of the upgradation program can boost the demand for arresting systems in aircraft carriers.
APAC is believed to grow at the fastest rate during the evaluation period, given the increasing aircraft carrier construction as well as procurement plans. The regional market also benefits from the mounting investments in construction and modernization of various airports in India, China, South Korea, Japan, Indonesia, and Thailand. At present, China is working on its first indigenous aircraft carrier and is expected to start serving by the end of 2019. In the same way, Japan is planning to transform its Izumo-class helicopter destroyers into aircraft carriers. Moreover, the presence of territorial disputes in the South China Sea and East China Sea is triggering navies to modify their aircraft carrier capabilities, which is bound to generate demand for aircraft arresting systems in the forthcoming years.
Table of Contents
1. Executive Summary
1.1. Market Attractiveness Analysis
1.1.1. Global Aircraft Arresting System Market, by Type
1.1.2. Global Aircraft Arresting System Market, by System
1.1.3. Global Aircraft Arresting System Market, by Platform
1.1.4. Global Aircraft Arresting System Market, by End-user
1.1.5. Global Aircraft Arresting System Market, by Region
2. Market Introduction
2.1. Market Definition
2.2. Scope of the Study
2.3. Market Structure
2.4. Key Buying Criteria
2.5. Market Factor Indicator Analysis
3. Research Methodology
3.1. Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
3.5. Forecast Model
3.6. List of Assumptions
4. Market Insights
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List of Tables
Table 1 Global Aircraft Arresting System Market, by Region, 2018–2023
Table 2 North America: Aircraft Arresting System Market, by Country, 2018–2023
Table 3 Europe: Aircraft Arresting System Market, by Country, 2018–2023
Table 4 Asia-pacific: Aircraft Arresting System Market, by Country, 2018–2023
Table 5 Rest of the World: Aircraft Arresting System Market, by Region, 2018–2023
Table 6 Global Aircraft Arresting System, Type Market, by Region, 2018–2023
Table 7 North America: Aircraft Arresting System, Type Market, by Country, 2018–2023
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top-down & Bottom-up Approaches
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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