Market Trends of Aircraft Fire Protection Systems Industry
Commercial Aircraft Segment Will Showcase Highest Growth during the Forecast Period
The commercial aircraft segment is projected to show remarkable growth during the forecast period. The growth is attributed to the increasing number of aircraft deliveries and rising demand for advanced fire protection systems. Fire protection systems are mandatory to be equipped on all types of passenger and cargo aircraft to ensure the safety of passengers and cargo. Therefore, the growth of the fire protection systems is directly related to the growth of commercial aircraft during the forecast period. With an increase in air passenger traffic, procurement of commercial aircraft also saw a surge after the recovery from the COVID-19 impact.
Airlines are placing huge orders to meet the growing demand for passenger travel across the world. As of December 2023, Airbus has orders for around 2,000 aircraft while Boeing is leading second at around 1,200 orders. Out of these orders, Indigo’s order of 500 A320 family aircraft in June 2023 has remained the largest order in the commercial aviation industry. In addition, in November 2023, Emirates also announced an order of 95 Boeing B777 wide-body aircraft worth USD 52 billion. Such orders are aimed at enhancing the opportunities for fire protection system manufacturers to capture huge market. These aircraft is expected to delivered through the forecast period, thereby directly driving the growth of fire protection systems that needs to be installed onto the aircraft.
North America Dominates the Market During the Forecast Period
Due to the presence of a well-financed aviation industry, the highest aircraft fleet, and rising spending on the aviation sector, North America is expected to continue its market share domination during the forecast period. Higher air traffic resulted in the procurement of several aircraft by regional and international airline operators in the region. Boeing, one of the major aircraft OEMs based in the US, generates a huge demand for aircraft fire protection systems. As the OEMs receive new orders for aircraft, the demand is simultaneously generated for commercial aircraft fire protection systems, as the FAA mandates the installation of evacuation systems in all active aircraft.
Factors such as the availability of raw materials, political stability, and low production costs drove the establishment of new aerospace manufacturing facilities in the region. For instance, as part of its Air Superiority 2030 program, the US Air Force (USAF) is developing a pair of two new high-tech fighter aircraft, dubbed the Penetrating Counter Air. The integration of advanced weaponry necessitates the integration of sophisticated fire detection systems to detect even minor fires caused by the malfunction of any critical component of the aircraft.
In contrast, a similarly advanced fire suppression system is required to contain the spread of the fire and ensure minimal collateral damage to other systems of the aircraft. Thus, increasing focus on enhancing passenger security and the rising number of aircraft deliveries is driving the market across the region.
