It was estimated prior to this unanticipated outbreak that the Aircraft Arresting System Market was likely to witness an impressive CAGR of 8.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. Factors such as rise in the expenditure on runway safety and the acquisition of aircraft are expected to underpin the global aircraft arresting system market.
Aircraft Arresting System Market Segment Insights:
By Aircraft Type:
The engineered materials arresting system (EMAS) segment is estimated to register the highest growth in the coming five years; while, the cable segment is expected to remain dominant during the forecast period, owing to the contributing factors such as mandatory installation of EMAS at airports having runway safety length less than 1,000 feet and the increasing expenditure on runway safety measures, which in turn, are expected to bolster the growth of the market.
By End-User Type:
The military airbase segment is anticipated to lead the market during the forecast period driven by the rise in procurement of jet aircraft and the building of temporary runways.
By System Type:
The fixed system segment was estimated to account for a share of 87.4% of the market in 2018.
By Platform Type:
The ship-based segment is projected to witness a higher growth during the forecast period. The growth of this segment is owing to an upsurge in the number of aircraft carriers globally and replacement of traditional systems with ship-based aircraft arresting systems.
By Region:
North America dominated the aircraft arresting system market in 2018, followed by Europe and Asia Pacific, respectively. North America is anticipated to sustain its dominance during the forecast period.