The aircraft fire protection systems industry is projected to grow from an estimated USD 911.6 Million in 2017 to USD 1,157.7 Million by 2022, at a CAGR of 4.90% from 2017 to 2022. Increased number of orders for new aircraft across the globe and modernization of the existing aircraft are key factors expected to drive the aircraft fire protection systems market growth during the forecast period. The market has been segmented based on product, application, fit, aircraft type, and region.
Based on product, the aircraft fire protection systems industry has been segmented into fire detection systems, alarm & warning systems, and fire suppression systems. The fire suppression systems segment of the aircraft fire protection systems market size is projected to grow at a higher CAGR during the forecast period. Fire suppression systems are an essential component required to extinguish fires in aircraft. These systems activate as soon as fire alerts are received from different sensors and detectors.
Based on application, the aircraft fire protection systems industry has been segmented into engines, cabins & lavatories, cockpits, Auxiliary Power Units (APUs), and aircraft cargo compartments. The growth of this segment can be attributed to the increasing demand for new aircraft from airlines. Hence, the growing demand for commercial air travel globally and rising defense budgets of prominent economies are expected to drive the demand for aircraft fire protection systems.
Based on fit, the market has been segmented into linefit and replacement. The linefit segment is projected to grow at a higher CAGR than the replacement segment during the forecast period. The projected higher growth rate of the linefit segment in the aircraft fire protection systems industry is due to the increase in aircraft orders as well as deliveries, economic growth across regions, and an increase in air passenger traffic.
Based on aircraft type, the aircraft fire protection systems market has been segmented into civil aircraft (general aviation, commercial passenger & cargo aircraft, and civil helicopters) and military aircraft (military helicopters, fighter jets, and transport carriers). Governments of various countries have been increasing investments in the defense & military sectors to ensure homeland security during external disputes. Increasing budget allocations for the procurement of military equipment is further expected to have a significant impact on the growth of the military aircraft subsegment.
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North America is estimated to lead the aircraft fire protection systems industry in 2017, owing to the presence of major aircraft manufacturers, such as Boeing (US) and Bombardier (Canada). These companies have significant new aircraft orders across the globe which is expected to boost the aircraft fire protection systems market growth.
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