Future Market Insights
Aviation Life Rafts Market: Introduction
Aviation life rafts are small, rigid to semi rigid, inflatable, floating devices carried aboard an aircraft utilized as a rescue mechanism in an unlikely event of emergencies. In addition to its usage in commercial aircraft, aviation life rafts are also installed as a rescue raft in military aircrafts as well. The aviation life rafts has to be approved by its relative governing body such as International Convention for the Safety of Life at Sea (SOLAS) in order to ensure its proper functioning in times of emergency. These life rafts sold in the market usually come equipped with survival kits, beaconing lights and inflation mechanisms among other nifty items. High end aviation life rafts come equipped with flexible canopies for protection against harsh ocean environment and oars. The materials adopted for the construction of aviation life rafts are required to be lightweight so as to not affect the payload of an aircraft, and must be tough yet flexible in order to take up as less amount of space as possible within an aircraft.
Aviation Life Rafts Market Dynamics
An aircraft is a highly critical transportation medium wherein every possible disaster situation it may come across is scrutinized and assessed paving a way for mandatory installation of aircraft life rafts within the cabin. The minimum number of aviation life rafts that has to be carried in an aircraft has also been increased so as to accommodate the maximum number of passengers which is further increased when wide body and very large body aircrafts are concerned. As witnessed in the current air travel scenario, the increase in the number of mishaps and incidents occurring around an aircraft has prompted various governing bodies to tighten the rules in order to improve passenger safety hence, biding well for the growth of the aviation life raft market. The increase in the number of orders placed by the airline carriers for new aircrafts coupled with an uptick in refurbishment activities of the existing fleet is also anticipated to drive the market on a positive note in the upcoming years. One of the challenges involved with the market is its inclusion in aircrafts that ply on domestic routes as it makes its requirement redundant.
Aviation Life Rafts Market: Segmentation
Aviation Life Rafts Market can be segmented as follows;
By Capacity, the market can be segmented as:
By Type, the market can be segmented as:
Aviation Life Rafts Market: Regional Outlook
From the perspective of various geographical locations across the globe, the market for aviation life rafts is poised of healthy growth in the upcoming years. In the Asia Pacific region, growing airline industry with many low costs airline carriers coming up coupled with increase in the number of orders of new aircrafts by these airline carriers is anticipated to push the market. China is on the verge to manufacture its own commercial aircrafts at a lower cost with an aim to break the Airbus-Boeing dominance and attract more clients based within the region. The aviation life rafts market in the North American as well as Western Europe region is also anticipated for a steady growth due to stringent Governmental push for increased safety requirements in air travel. Very large aircrafts such as Boeing 747 and Airbus A380 are popular among the Middle East airline carriers with further orders placed on such aircrafts, hence benefitting the growth of the market in the region in the future.
Aviation Life Rafts Market: Market Participants
Below are some of the examples of major players involved in the Global Aviation Life Rafts market in the value chain:
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