The key players in the global aircraft arresting system market are Curtiss-Wright Corporation (US), General Atomics (US), QinetiQ (UK), Safran (France), SCAMA AB (Sweden), WireCo WorldGroup (Paris), Bridon-Bekaert (UK), Runway Safe Sweden AB (Sweden), ESCRIBANO Mechanical and Engineering (Spain) and A-laskuvarjo (Finland).
The Aircraft Arresting System Market Is Estimated To Register A CAGR Of Approximately 6.25% During The Forecast Period Of 2018 To 2023.
Aircraft arresting system enables in stopping an aircraft by absorbing its momentum in an emergency, routine landing and aborted takeoff. These systems offer enhanced safety to passengers and pilots by assisting in secure aircraft landing. Factors such as increasing aircraft manufacturing and growing air passenger traffic are boosting the market growth. However, high cost of development, installation and repair of aircraft arresting systems may hamper the market growth.
The global aircraft arresting system market has been segmented based on type, system, platform, end user and region. On the basis of type, market is divided into cable, net barrier, Mobile, Aircraft Arresting System (MAAS), Engineered Materials Arresting System (EMAS) and aircraft carrier arresting system. In 2017, the cable segment dominated the global market.
However, the EMAS segment is anticipated to grow at the highest CAGR owing to stringent government regulations pertaining installation of EMAS at airports having runway safety length less than 1,000 feet by the Federal Aviation Administration (FAA). On the basis of system, the market has been segmented into fixed and portable. The fixed segment dominated the market in 2017. Increasing territorial disputes across in various parts of the world is driving the Aircraft Arresting System Market Growth.
On the basis of platform, the market is segmented into ground-based and ship-based. the ship-based segment is anticipated to grow at the highest CAGR. Growing replacement of conventional systems with ship-based aircraft arresting system is boosting the demand for this segment. On the basis of end user, the market is segmented into commercial airport, aircraft carrier, and military airbase. The military airbase segment is anticipated to grow at the highest CAGR. Increasing procurement of jet aircrafts by developed and developing economies is bolstering the market growth. Additionally, the growing need to construct temporary runways is also boosting the market growth.
On the basis of region, the global aircraft arresting system market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. In 2017, North America dominated the global market. Presence of prominent players such as General Atomics and Curtiss-Wright Corporation among others is driving the market growth. However, Asia Pacific is expected to grow at the fastest CAGR over the forecast period owing to increasing defense expenditure of developing economies such as India, and China among others. Additionally, increasing adoption of aircraft arresting systems by countries such as Australia and others is boosting the market growth in the region.
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