(I-BusinessNews.Com, August 25, 2020 ) According to the new research report “Aircraft Arresting System Market by Type (Net Barrier, Cable, Maas, EMAS, Aircraft Carrier Arresting System), End User (Commercial Airport, Military Airbase, Aircraft Carrier), System (Fixed, Portable), Platform, and Region – Global Forecast to 2022″, The aircraft arresting system market is projected to grow from an estimated USD 811 million in 2017 to USD 1,105 million by 2022, at a CAGR of 6.38% during the forecast period. Increasing expenditure on airport improvement plans and upgradation of aircraft carriers are expected to drive the aircraft arresting system market during the forecast period.
Download PDF Brochure @
The aircraft arresting system market has been segmented on the basis of type, end use, system, platform, and region. Among types, the Engineered Material Arresting System (EMAS) segment is projected to grow at the highest CAGR during the forecast period; the cable segment is projected to lead the market during the forecast period. Factors such as mandatory installation of EMAS at airports having runway safety length less than 1,000 feet and increasing spending on runway safety measures are expected to drive the market.
On the basis of end use, the aircraft arresting system market has been segmented into commercial airport, aircraft carrier, and military airbase. The military airbase segment is projected to lead the market during the forecast period owing to the increase in procurement of jet aircraft and the construction of temporary runways.
Based on system, the fixed system segment is estimated to account for a share of 87.4% of the aircraft arresting system market in 2017. Based on platform, the naval-based segment of the market is projected to grow at the highest CAGR during the forecast period. The growth of this segment of the market can be attributed to an increase in the number of aircraft carriers across the globe and replacement of conventional systems with naval-based aircraft arresting systems. North America accounted for the largest share of the market in 2016, followed by Europe and the Asia Pacific, respectively.
The major challenge for aircraft arresting system manufacturers is the high cost. The cost of installing one EMAS bed in 300 foot *150 foot usually cost between USD 5 Million and USD 8 Million.
Key Market Players
The major players in the aircraft arresting system market are Zodiac Aerospace (France), Runway Safe (Sweden), and General Atomics (US). Manufacturers mostly adopt new product launches as their key growth strategy. Zodiac Aerospace (France) is the leading company in the market, and caters to both, military and commercial segments. In the commercial segment, it commands over 90% of the total market share.
Ask for Sample Report @
MarketsandMarketsÂ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companiesÂ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarketsÂ for their painpoints around revenues decisions.
MarketsandMarketsÂs flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra