Market Trends of Aircraft Arresting System Industry
This section covers the major market trends shaping the Aircraft Arresting System Market according to our research experts:
The Land-based Segment to Experience the Highest Growth During the Forecast Period
The land-based segment of the market is expected to register the highest CAGR during the forecast period. This growth is mainly due to the use of new engineered materials arresting systems (EMAS) in the land-based platforms, like airports and military bases, to enhance the safety of the runway by the use of a series of crushable blocks to slow the speed of an aircraft during an emergency overrun. DeKalb Peachtree Airport and Yeager Airport are two airports in the United States that have recently installed the EMALS technology in the airports. Construction of new airports is further expected to boost the growth of the market during the forecast period.
The Asia-Pacific Region to Experience the Highest Growth During the Forecast Period
As of December 2021, North America held the largest market share in the aircraft arresting system market. In August 2022, US Navy and DoD awarded, General Atomics, an aircraft arresting system development contract worth USD 8.8 million, for the future French aircraft carriers. The order includes two or three EMALS launch motor subsystems, two energy storage groups, a three wire, and six energy absorber AAG subsystems. The work is expected to be completed by June 2023, while the total cost of the system is estimated at USD 1.3 billion for one unit. The system is being claimed to require fewer people to operate than traditional systems and has a lower maintenance cost. The system also reduces water consumption by 37,000 gallons per day, reducing the demand for energy-intensive desalination.
The Asia-Pacific region is anticipated to have the highest growth during the forecast period. The growth is majorly due to the increasing aircraft carrier construction and procurement plans, as well as due to the increasing investments in construction and modernization of the airport infrastructure in China, India, Japan, South Korea, Thailand, and Indonesia.
India is planning to commission its first indigenously designed and built aircraft carrier by September 2022. The ship was handed over to the Indian Navy in July, 2022, and it is still actively looking for 30 fighter aircraft to operate from its carrier deck. Further, Indian Navy, also declined installing the EMALS system on the second indigeneous aircraft carrier in December 2021, sighting the high cost of single system, and the system being untested for operating from conventionally powered aircraft carriers, as well as for smaller weight-class of aircraft carriers, which Indian aircraft carriers belong to (below 65,000 tons).
