The aircraft arresting system market is projected to reach USD 1,104.5 Million by 2022, at a CAGR of 6.38% from 2017 to 2022. The growth of the market can be attributed to various technological developments taking place across the globe, which include the development of advanced arresting gears for Ford-class carriers, and mobile aircraft arresting systems, among others.
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The 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 810.6 Million in 2017 to USD 1,104.5 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.
Browse 108 Market Data Tables and 42 Figures spread through 165 Pages and in-depth TOC on "Aircraft Arresting System Market - Global Forecast to 2022"
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Based on type, the Engineered Aircraft Arresting System (EMAS) segment is projected to grow at the highest CAGR during the forecast period
Increasing investments in runway safety measures and the mandate to install EMAS at airports having runway safety length less than 1,000 feet by the Federal Aviation Administration are expected to boost the aircraft arresting system market.
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Based on end use, the military airbase segment is projected to lead the aircraft arresting system market during the forecast period
The military airbase segment is projected to capture the maximum market share during the forecast period. The increase in procurement of fighter jets and need to construct temporary runways are factors expected to lead to the growth of this segment.
The North America aircraft arresting system market is expected to grow at the highest CAGR during the forecast period
North America is projected to lead the aircraft arresting system market during the forecast period, owing to the mandate of compulsory installation of engineered material arresting systems at commercial airports by the FAA and upgradation programs of aircraft carriers. Replacement of Nimitz class aircraft carriers with Ford class aircraft carriers as part of the upgradation program is expected to drive the demand for arresting systems in aircraft carriers.
Zodiac Aerospace (France), Runway Safe (Sweden), General Atomics (subsidiary of General Dynamics, US), A-Tech Inc. (U.S.), A-Luskuvarjo (Finland), Escribano Mechanical & Engineering (Spain), Victor-Balata Belting Company (US), Foster-Miller Inc. (US), Curtiss-Wright Corp. (US), Wire Rope Industries (Canada), and WireCo WorldGroup (US) are some of the key players in the aircraft arresting system market
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