AIRCRAFT FIRE PROTECTION SYSTEM MARKET TO REACH USD 1.04 BILLION BY 2024 | CAGR 4.6% – FORENCIS RESEARCH

Global Aircraft Fire Protection System Market: Key Highlights

• According to the new market research report “Aircraft Fire Protection System Market by Application (Engine and Auxiliary Power Unit (APU) Compartment, Cargo and baggage Compartment, Lavatories on transport aircraft, Cabins, Electronic bays, Wheel wells, Bleed air ducts and Others) by Component (Control Panel, Complete Wired and Wireless Systems for All Aircraft, Smoke Detectors, Electronic Units, Fire Extinguisher, Alarm & Warning System, Fire Suppression, Sensors, Sprinkler System and Others) by Aircraft Type (Commercial Aircraft, General Aviation Aircraft, Regional Aircraft, Military Aircraft and Helicopter) by Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2019 to 2024”, the global Aircraft Fire Protection System Market is estimated to reach USD 1.04 Billion by 2024 at a CAGR of around 4.6% during the review period.
• Supportive aviation regulations for cabin safety program, where International Air Transport Association (IATA) support to Flight Data Connect (FDC) to enhance and improve the safety and operational efficiency.
• However, High installation cost of sensors, alarm and various automated systems remain a major restraining factor for the growth of the aircraft fire protection system market.

Global Aircraft Fire Protection System Market: Key Market Dynamics

• The increasing demand for newer generation aircraft in the military, and general aviation sectors is anticipated to generate demand for advanced and better fire safety systems onboard aircraft
• Innovations in additive manufacturing technology will help to predict the maintenance requirements and increase the safety by recognize the part failure which witness to boost the market demand.
• Development of aircraft fire protection systems will lead to increase the advance technologies advancements for the safety of the passenger.
• Slow transition to halon alternatives in new aircrafts which lead to reduce the performance which is projected to hamper the market growth in the forecast period.

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Global Aircraft Fire Protection System Market: Regional Overview

• North America

According to the International Air Transport Association (IATA) in 2019 the region enhance the revenues with a strong economy and advancement in the industry which is projected to largest revenue then other regions. Also the region is continue to be the highest financial performance with account for 65% of profit in 2019. As well as the US aerospace industry is the largest across the globe and contributed to around USD 374 billion of the country’s GDP in 2018.

The aircraft fire protection system market in the North America region is projected to witness high demand due to the high production of aircraft in the region

• Europe

The region economic growth is projected to result of substantial cuts in expansion plans whereas the growth is excepted to be balanced and lead to improve the supply chain balance. According to International Air Transport Association (IATA) it being forecast the net profit in 2020 will be USD 7.9 Billion in airlines industry. Also, the Germany is the second largest aviation market in Europe whereas the Germany could generate wealth and job opportunities from the air transport.

Global Aircraft Fire Protection System Market: Key Players Overview

• Diehl Stiftung & Co. KG:

Diehl Stiftung & Co. KG is a global company that provide semi-finished products and forgings. Also the company provides products for automotive, electronic controls and electronic for the European home appliance. The company also provides Aviation smoke detectors which is based on optical light dispersion caused by fire aerosols.

Hence, in 2018 the company had won airbus innovative award for designing a new galley chiller for commercial aircraft.

• Halma plc:

Halma plc is a global technology companies that make products for hazard detection and life protection. The company manufacturer product which will help to enhance the quality of life of people. Also it provides a solution in fire protection and alarms system globally. The company advanced fire detection system help to protect aircraft in extreme environment. in 2018, Halma plc had an acquired Belgian fire control panel company which will help to enhance the fire safety.

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