Global Aircraft Fire Protection System Market 2019–2023: Development of Next-Generation Engines to Boost Demand — Technavio
The aircraft fire protection system market report has been added to Technavio’s catalog.
The global aircraft fire protection market is expected to grow at a CAGR of close to 6% over the forecast period.
The aircraft fire protection system consists of various sensors, delivery mechanisms, actuators, and valves that help in delivering halon-based fire extinguishing agents to different parts of an aircraft. The aircraft fire protection system market is expected to grow significantly, due to the rising procurement of new-generation aircraft and the augmented safety protocols in aviation.
For more Information get Free Sample Report
Airlines are increasingly focusing on employing better engines for increased fuel efficiency and to reduce the overall operational costs. As a result, engine manufacturers have been engaging in extensive efforts to enhance efficiency and boost the speed of aircraft engines. This has led to increased investments in R&D activities directed towards the development of advanced engine solutions such as supersonic engines. New engines require the integration of sophisticated fire protection systems to control damages in case of fire breakouts. Therefore, the efforts directed toward the development of next-generation engines, which feature integrated fire protection system will drive the growth of the aircraft fire protection system market.
Continuous R&D in the aircraft industry has led to the development of advanced diagnostics, active engine control, and advanced component manufacturing techniques. Additive manufacturing processes are gaining traction as they help in manufacturing products with complex shapes and high strengths with minimal waste generation. The use of additive manufacturing is expected to help designers build more advanced fire-protection systems that are lightweight and offer enhanced safety against fire. Such innovations in manufacturing technology will be one of the key trends in the aircraft fire protection system market during the forecast period.
Regional Outlook
The market for aircraft fire protection system market spans across five major regions: the Asia-Pacific, North America, Europe, South America and the Middle East and Africa. The aircraft fire protection system market in Asia-Pacific is the fastest-growing market globally, with an incremental growth of USD 69.35 million.
Countries such as India, China, Japan, South Korea, Singapore, and Australia are dominating the aircraft fire protection system market in APAC. In China, airline carriers have placed large orders for new aircraft. For instance, China Eastern Airlines has an order backlog of 20 A350s and 54 B737–8s. Such large-scale procurements offer greater scope for regional fire protection system manufacturers.
Competitive Outlook
Siemens AG has business operations under various segments such as power and gas, energy management, building technologies, mobility, digital factory, process industries and drives, Siemens Healthineers, Siemens Gamesa renewable energy, and financial services. Siemens is based in Germany and operates in several countries across Europe, Africa, Middle East, Americas, Asia, and Australia.
The company reported revenues of USD 95,085 million for FY2018. Siemens offers optical smoke detectors for integration in modern commercial and military aircraft. The company also offers the KTA2400 that includes a control panel and can integrate up to six smoke detectors installed at any location on board an aircraft.
Get Full Report: https://www.technavio.com/report/aircraft-fire-protection-system-market-industry-analysis
