North 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)
Market Introduction
The aircraft manufacturing industry across North America is experiencing substantial growth owing to the growing demand for general aviation, commercial, and military aircraft. The rising disposable incomes in North America countries, along with the presence of top players such as Airbus and Boeing, are some of the factors that are driving the demand for these aircraft. In a North America scenario, commercial airplanes are anticipated to maintain continuous growth over the coming years, irrespective of the numerous challenges the commercial airlines face, which includes uncertain fuel prices and other regulatory changes in various countries. The mounting production of aircraft for the integration of safety equipment requires evacuation slides and life rafts to evacuate the aircraft if any emergency is landing on water. Aviation life rafts are designed to meet the aerospace and defense standards. All these factors are anticipated to fuel the demand for aviation life rafts in various countries and offer future growth opportunities for market players operating across North America. The application of aviation life rafts is not limited to commercial aircraft for rescuing purposes but also has its usage in military aircraft as well. These life rafts have to be approved by the governing body in North America, for ensuring the proper functioning in case of any emergency. Factors such as emphasizing shipment volumes of general aviation aircraft fleet and limited service life of aviation life rafts are expected to drive the North America aviation life rafts market.
Further, in case of COVID-19, North America is highly affected 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 Mexican 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.
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Market Overview and Dynamics
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. Rising manufacturing of commercial narrow-body and wide-body jets is expected to escalate the North America aviation life rafts market. The aviation industry across North America continues to grow year on year, as the aircraft original equipment manufacturers (OEMs) encounter higher volumes of orders for narrow body jets and wide body jets. The continuous growth in number of passengers travelling by air has led the airlines to raise their respective fleet size significantly. The demand for narrow body jets and wide body jets continues to increase across airliners across North America, boosting the manufacturing rate of the same among the aircraft OEMs. The demand for overseas travel has significantly increased and is expected to increase to a much higher level during the coming years. The risk of emergency water landing is high due to various technical and non-technical issues. In order to evacuate the passengers and crews safely, the aircraft OEMs are increasingly procuring better quality higher passenger carrying evacuation slides/rafts. Thus, the rise in manufacturing of narrow - body and wide - body jets coupled with a rise in the purchase of life rafts is expected to stimulate the North America aviation life rafts market during the forecast period
Key Market Segments
In terms of capacity, the large-sized life rafts segment accounted for the largest share of the North America aviation life rafts market in 2019. In terms of type, the multi-tube life raft segment held a larger market share of the North America aviation life rafts market in 2019. Further, commercial aviation segment held a larger share of the North America aviation life rafts market based on application in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America aviation life rafts market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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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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 - Company Profiles
- 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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Aviation Life Rafts Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
5. North America Aviation Life Rafts Market – Key Market Dynamics
5.1 Market Driver
5.1.1 Emphasizing Shipment Volumes of General Aviation Aircraft Fleet
5.1.2 Limited Service Life of Aviation Life Rafts
5.2 Market Restraint
5.2.1 Cessation of A380 Program
5.2.2 Useless on Domestic Flights
5.3 Market Opportunity
5.3.1 Rising Manufacturing of Commercial Narrow-body and Wide-body Jets
5.4 Future Trends
5.4.1 Decrease in the Weight of the Life Rafts
5.5 Impact Analysis of Drivers and Restraints
6. Aviation Life Rafts Market – North America Analysis
6.1 Overview
6.2 North America Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Market Players Ranking
7. North America Aviation Life Rafts Market Analysis – By Capacity
7.1 Overview
7.2 North America Aviation Life Rafts Market, By Capacity (2019 and 2027)
7.3 Large-sized Life Rafts
7.3.1 Overview
7.3.2 Large-sized Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Medium-sized Life Rafts
7.4.1 Overview
7.4.2 Medium-sized Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Small-sized Life Rafts
7.5.1 Overview
7.5.2 Small-sized Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
8. North America Aviation Life Rafts Market Analysis – By Type
8.1 Overview
8.2 North America Aviation Life Rafts Market, by Type (2019 and 2027)
8.3 Single Tube Life Rafts
8.3.1 Overview
8.3.2 Single Tube Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Multi-Tube Life Rafts
8.4.1 Overview
8.4.2 Multi-Tube Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
9. North America Aviation Life Rafts Market Analysis – By Application
9.1 Overview
9.2 North America Aviation Life Rafts Market, By Application (2019 and 2027)
9.3 General Aviation
9.3.1 Overview
9.3.2 General Aviation: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
9.4 Military/Defense Aviation
9.4.1 Overview
9.4.2 Military/Defense Aviation: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
9.5 Commercial Aviation
9.5.1 Overview
9.5.2 Commercial Aviation: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
10. North America Aviation Life Rafts Market – Country Analysis
10.1 Overview
10.1.1 North America: Aviation Life Rafts Market, by Key Country
10.1.1.1 US: Aviation Life Rafts Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.1.1 US: Aviation Life Rafts Market, by Capacity
10.1.1.1.2 US: Aviation Life Rafts Market, by Type
10.1.1.1.3 US: Aviation Life Rafts Market, by Application
10.1.1.2 Canada: Aviation Life Rafts Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.2.1 Canada: Aviation Life Rafts Market, by Capacity
10.1.1.2.2 Canada: Aviation Life Rafts Market, by Type
10.1.1.2.3 Canada: Aviation Life Rafts Market, by Application
10.1.1.3 Mexico: Aviation Life Rafts Market – Revenue, and Forecast to 2027 (US$ Million)
10.1.1.3.1 Mexico: Aviation Life Rafts Market, by Capacity
10.1.1.3.2 Mexico: Aviation Life Rafts Market, by Type
10.1.1.3.3 Mexico: Aviation Life Rafts Market, by Application
11. Impact of COVID-19 Outbreak
11.1 North America: Impact Assessment of COVID – 19 Pandemic
12. Industry Landscape
12.1 Market Initiative
13. Company Profiles
13.1 EAM Worldwide
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Life Support International, Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Revere Survival Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Safran S.A
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Survitec Group Limited
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 AVI Aviation
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Collins Aerospace Systems
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Switlik Parachute Co.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Legend Aerospace
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. North America Aviation Life Rafts Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. US: Aviation Life Rafts Market, by Capacity –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: Aviation Life Rafts Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 4. US: Aviation Life Rafts Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: Aviation Life Rafts Market, by Capacity –Revenue and Forecast to 2027 (US$ Million)
Table 6. Canada: Aviation Life Rafts Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 7. Canada: Aviation Life Rafts Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 8. Mexico: Aviation Life Rafts Market, by Capacity –Revenue and Forecast to 2027 (US$ Million)
Table 9. Mexico: Aviation Life Rafts Market, by Type –Revenue and Forecast to 2027 (US$ Million)
Table 10. Mexico: Aviation Life Rafts Market, by Application –Revenue and Forecast to 2027 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Aviation Life Rafts Market Segmentation
Figure 2. North America Aviation Life Rafts Market Segmentation – By Country
Figure 3. North America Aviation Life Rafts Market Overview
Figure 4. North America Aviation Life Rafts Market, by Country
Figure 5. North America Aviation Life Rafts Market, By Capacity
Figure 6. North America Aviation Life Rafts Market, By Application
Figure 7. North America: PEST Analysis
Figure 8. North America Aviation Life Rafts Market – Ecosystem Analysis
Figure 9. North America Aviation Life Rafts Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. North America Aviation Life Rafts Market Revenue Share, by Capacity (2019 and 2027)
Figure 12. North America Large-sized Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Medium-sized Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America Small-sized Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 15. North America Aviation Life Rafts Market Revenue Share, by Type (2019 and 2027)
Figure 16. North America Single Tube Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America Multi-Tube Life Rafts: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Aviation Life Rafts Market Revenue Share, by Application (2019 and 2027)
Figure 19. North America General Aviation: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. North America Military/Defense: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America Commercial Aviation: Aviation Life Rafts Market – Revenue and Forecast to 2027 (US$ Million)
Figure 22. North America: Aviation Life Rafts Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. US: Aviation Life Rafts Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. Canada: Aviation Life Rafts Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 25. Mexico: Aviation Life Rafts Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID – 19 Pandemic in North American Country Markets
- 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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