India’s aviation sector had increasingly emerged as a fast-growing industry. The sector had established itself as an affordable and credible alternative to the tedious and long journeys via road or rail. With a visible growth trend, it was estimated that by 2034, India would become one of the largest aviation markets in the world. As of financial year 2024, the passenger carrier IndiGo was the leader in the segment with around 62 percent of the market. IndiGo - the market leader The Indian aviation sector handled over 376 million passengers at Indian airports the same year. Jet Airways held the largest market share after IndiGo as of 2018. But the former passenger carrier had suspended operations in April 2019 following financial difficulties, leaving the field open for the latter, with little competition from other players in the market. A flight for the budget airline market Indigo airline’s low-cost and no-frills approach to domestic flying has been cited as one of the factors leading to its relative success in India. According to the Directorate-General of Civil Aviation, IndiGo airline carried over 85 million passengers during the fiscal year 2023. It ranked third among the country’s most punctual airlines with above 81 percent on-time arrivals. As a carrier that also had the least complaints from the customers, IndiGo’s popularity with the domestic base was high, soaring towards growth in the years to come.

India’s leading low-cost air carrier, IndiGo, carried around 106.4 million domestic and international passengers in the financial year 2024. This was an increasing in comparison to the previous year.   The no-frills airline Established in 2006 and headquartered in Gurgaon, IndiGo climbed the airline ladder to become the largest passenger carrier with a market share of about 55 percent. The company’s focus was threefold – offering low fares mainly in the domestic market, being on-time and providing a smooth flying experience. IndiGo was the preferred airline among Indians and was known for its punctuality. Leading the domestic market IndiGo had 412 aircraft as part of its fleet and over a thousand daily flights to 122 destinations. As a low-cost carrier, it offers only economy seating and no complimentary meals on any flights. It was one of the leading budget airlines in terms of net profit in 2019. As an airline that operates mainly within the south Asian country, it has become a major player in the market since its establishment in 2015. It found a stronger foothold when its competitor Jet Airways suspended operation between early 2019 and mid-2022.

IndiGo held around 17.6 percent of the international airlines market during financial year 2024, out of the 87 scheduled international operators across India. Emirates held almost 8.3 percent of the international market in the south Asian country, whereas the airline was ranked as the fourth leading airline worldwide based on brand value.

[Keywords] Market include Virgin America, Azul Linhas Areas Brasileiras S.A., Airasia Inc., Norwegian Air Shuttle As, Jetstar Airways Pty Ltd.

First time since financial year 2019, IndiGo reported a profit before tax of nearly 80.5 billion rupees at the end of fiscal year 2024. It is the market leader in the Indian air carrier industry, The company had significant losses due to national lockdown and restrictions on air travel due to the COVID-19 pandemic.

Tough year for Indian air-carriers According to IndiGo’s CEO, 2019 was a year of two halves – the first involving declines resulting in losses due to high fuel prices and a weak rupee, in addition to fierce competition. Jet Airways’ declaration of bankruptcy earlier that year also had an impact on the industry as other companies tried to fill in its gaps. IndiGo hired 285 pilots from the Jet Airways staff and was looking to increase those numbers further.   Reaching greater heights As part of expanding its wings, IndiGo launched international flights in 2011, five years after being in operation. This, along with fleet development, made the private-owned budget carrier one of the fastest-growing in 2013, after Indonesian Lion Air. A couple of years later, Airbus received its largest single order from the Indian passenger carrier. Since its last quarter recovery in fiscal year 2019, the airline was reportedly studying the inclusion of business class for its long-haul flights. With Air India hanging by a thread, and players like SpiceJet and Vistara seizing growth opportunities, IndiGo depends on innovation and development to retain its market leading position.

IndiGo, the scheduled airline operator, had the highest number of aircraft in India with about 304 aircraft as of March 2023. Following IndiGo, Air India had 118 aircraft in the same period. IndiGo was a low-cost private airline operator, whereas Air India was previously a state-owned enterprise and later was sold to Tata Group. Aviation industry scenario The civil aviation industry in India was one of the quickest growing industries in India. India, with its vast size and large population, was the third-largest domestic aviation market in the world. An increase in the number of passengers led to a rise in aircraft usage, which could be seen by the number of domestic departures by private Indian airlines and national airlines. By 2024, it was expected that India would become the third-largest market in terms of passengers, overtaking the United Kingdom. In the financial year 2019, over 28 million people flew with Indian national airlines, and over 7 million people flew in and out with private Indian scheduled carriers. The aviation industry added approximately 72 billion U.S dollars to the Indian gross domestic product. As per the Directorate General of Civil Aviation (DGCA) headquartered in New Delhi, India was about to have its largest fleet by its scheduled airlines in December 2019. The eight domestic carriers added 145 aircraft to their fleet in the year 2019. IndiGo airlines IndiGo had the highest market share in the industry as of March 2020. It added 53 aircraft in 2019 and 60 in 2018. There was a constant increase in the number of passengers transported by IndiGo airlines over the period beginning since April 2015. IndiGo went international in 2011, five years after it started its domestic operations. As of March 2020, with 261 aircraft under its wings, IndiGo flew to 24 international and 63 domestic destinations.

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Aircraft Evacuation Systems Market Size 2024-2028

The aircraft evacuation systems market size is forecast to increase by USD 678.2 million, at a CAGR of 4.5% between 2023 and 2028. Augmented safety protocols in aviation enhance the overall safety and reliability of air travel, fostering increased confidence among passengers and stakeholders. This heightened focus on safety drives demand for advanced technologies and solutions. Additionally, the adoption of new aircraft into service significantly impacts market growth, as modern aircraft offer improved fuel efficiency, performance, and passenger comfort, leading to increased operational efficiency and competitiveness for airlines. Furthermore, the growth in potential business opportunities within the aviation sector, including expanded routes, emerging markets, and new service offerings, stimulates investment and innovation. These factors collectively drive market expansion by addressing evolving industry needs and creating new opportunities for growth and development.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

The market is a significant sector in the aviation industry, focusing on ensuring the safe and efficient evacuation of passengers and crew members during emergencies. The Federal Aviation Administration (FAA) sets stringent regulations for aircraft evacuation systems to ensure passenger safety. Key players in the market include Survitec Group Limited, Martin-Baker Aircraft Co, Trelleborg AB, IRKUT CORPORATION, Bombardier Inc, Sukhoi Civil Aircraft, Illyushin, and Tupolev. The Evacuation Slides Segment dominates the market due to its simplicity and effectiveness. In the Asia-Pacific region, countries like India, with airlines such as Air India, IndiGo Airlines, and Akasa Air, are expected to drive market growth due to increasing air travel demand. Notable incidents, such as those involving FlyersRights and the Allied Pilots Association, have emphasized the importance of efficient evacuation systems. Key market players are investing in research and development to innovate and improve their offerings. Companies like Martin-Baker Aircraft Co and Trelleborg AB are focusing on advanced technologies like inflatable slides and inflatable rafts for enhanced safety and efficiency.

Key Market Driver

Augmented safety protocols in aviation is notably driving market growth. The Federal Aviation Administration (FAA) plays a crucial role in ensuring the safety of aircraft through processes like type certification. This regulatory framework ensures that new aircraft designs conform to existing statutes and regulations, and sets standards for manufacturers and airline operators in the design, production, operation, and maintenance phases. In the realm of aircraft safety, significant advancements have been made in evacuation systems. The FAA mandates that a full evacuation of a passenger aircraft must be accomplished in 90 seconds or less. Furthermore, the FAA is also focusing on other aviation norms, such as standardizing airplane seat size and legroom.

Airline operators, including Air India, IndiGo Airlines, and Akasa Air, are investing in safety technologies, collaborating with global aircraft manufacturers and manufacturing facilities, and aircraft component manufacturers to enhance evacuation procedures and evacuation equipment. In the event of a mid-flight emergency, the quick response of emergency response systems and safety drills can save lives. The Economic Times reports that the commercial aircraft market is expected to witness substantial growth in the future, creating investment pockets for ground-based evacuation systems, such as escape slides, and other safety equipment. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The use of polyurethane-coated fabric for aircraft evacuation system components is the key trend in the market. The market has witnessed significant advancements since the introduction of Polyolefin Coated Fabric (PCF) in aviation in 1995 by Zodiac Aero Evacuation Systems. PCF, an alternative to rubber, offers superior resistance to abrasion, making it ideal for constructing durable life rafts that can withstand harsh terrain. Unlike rubber, PCF does not crack, especially around electrical equipment where ozone concentrations can be high. The use of PCF also reduces the cost of machining due to its pourable and castable properties, enabling the fabrication of complex parts. The versatility of PCF is further enhanced by its availability in various grades and compatibility with a wide range of pigments and dyes, allowing for the production of rafts in various colors. Key industry players, including the Federal Aviation Administration (FAA), FlyersRights, Allied Pilots Association, Air India, IndiGo Airlin

No-Frills Services: LCCs provide essential air travel services without unnecessary amenities, such as free in-flight meals, baggage check-in, and seat selection. This allows them to maintain low base fares.

Ancillary Revenue: To supplement base fares, LCCs generate additional revenue through ancillary services. These include charges for checked baggage, seat upgrades, in-flight purchases, and loyalty programs.

Recent developments include: For instance,May 2022 Southwest Airlines plans to invest $2 billion in improving the traveler experience. There are significant upgrades on all new aircraft deliveries, such as improved WiFi and power outlets at each seat., For instance,April 2022 The Jetstar Group and IndiGo announced a new Low-Cost Carrier (LCC) interline partnership in April 2022. As a result, Jetstar customers will now be able to book connections and flights on Indigo services through the Jetstar Connect platform.. Key drivers for this market are: Growing disposable income and desire for budget travel

Expansion of LCCs in emerging markets. Potential restraints include: Competition from legacy carriers and other modes of transportation. Notable trends are: Increasing demand for air travel is to boost market growth.

In India, there were over 400 airports and airstrips, while 135 were operational. Passenger traffic amounted to over 376 million at airports across India in financial year 2024, out of which close to 69.6 million were international passengers. This year's passenger traffic surpassed the previous record of 2019, grew 15 percent in comparison with 2023. The huge drop in 2021 was the result of the suspension of passenger air travel due to the coronavirus (COVID-19) pandemic since the second half of March 2020. India’s leading air carriers IndiGo airline was the leading passenger carrier in India with around 55 percent of market share in financial year 2023. It was established back in 2006 as a low-cost airline based at IGI Airport, Delhi. Following IndiGo airline was Vistara, a full-service airline with a much less 10.4 percent market share. Vistara is a joint venture between Tata Sons and Singapore Airlines. And just a few years ago, in February 2016, Jet Airways was the largest airline in India. However, due to tough competition, and financial issues, it ceased operations in April 2019, but is expected to resume its flight operations by the end of 2024 Air freight The total air freight tonnage handled in India was around 3.1 million metric tons in financial year 2023. It was an increase from the previous year recovering from the impact of the coronavirus (COVID-19) pandemic. IGI Airport in Delhi was the busiest in terms of volume of freight handled. In financial year 2021, India saw the highest volume of air freight of 3.56 million metric tons. It was on a steady growth trend until the start of the pandemic.

The aviation fuel market is projected to reach a value of 197.42 million by 2033, exhibiting a CAGR of 7.39% during the forecast period (2025-2033). The increasing demand for air travel, particularly in emerging economies, coupled with the expansion of aviation infrastructure, is driving the growth of the market. Furthermore, the growing use of aviation biofuels as a sustainable alternative to fossil fuels is creating new opportunities for market expansion. The market is segmented based on fuel type, end-user, and region. Air turbine fuel (including Jet A-1 and Jet B), aviation biofuel, and AVGAS constitute the major fuel types used in the aviation industry. Commercial aviation accounts for the largest share of end-users, followed by defense and general aviation. Geographically, North America and Europe are the leading markets, while Asia Pacific is expected to witness significant growth due to the rapid expansion of the aviation sector in the region. Key players in the aviation fuel market include Exxon Mobil Corporation, Chevron Corporation, and Shell Plc. Recent developments include: April 2023: Using domestically developed technology that utilizes cooking oil and oil-bearing plant seeds, a bio-jet fuel, commonly referred to as sustainable aviation fuel (SAF), is anticipated to obtain international certification this year. This certification would enable the SAF to be utilized in commercial flights within India. To facilitate the production of SAF, the Indian Institute of Petroleum (IIP), a laboratory under the Council of Scientific and Industrial Research (CSIR), has collaborated with prominent entities such as Boeing, Indigo, Spicejet, Air India, Vistara, Air Asia India., February 2023: Boeing has secured agreements to procure 5.6 million gallons (21.2 million liters) of blended sustainable aviation fuel (SAF) from Neste, the foremost producer of SAF globally. This procurement is aimed at supporting Boeing's U.S. commercial operations until 2023. These agreements mark a significant increase, doubling the company's SAF procurement compared to the previous year.. Key drivers for this market are: 4., Increasing Air Travel Demand4.; Expanding Airline Fleet. Potential restraints include: 4., Increasing Air Travel Demand4.; Expanding Airline Fleet. Notable trends are: Aviation Turbine Fuels Expected to Dominate the Market.

According to Cognitive Market Research, The Global Drinking Water Aircraft Service Cart market size is USD XX million in 2023 and will expand at a compound annual growth rate (CAGR) of 6.20% from 2023 to 2030.

The demand for Drinking Water Aircraft Service Carts is rising due to stringent regulatory compliance and rising air passenger traffic.
Demand for Vehicular remains higher in the Drinking Water Aircraft Service Cart market.
The Commercial Aircraft category held the highest Drinking Water Aircraft Service Cart market revenue share in 2023.
North American Drinking Water Aircraft Service Cart will continue to lead, whereas the Asia-Pacific Drinking Water Aircraft Service Cartmarket will experience the most substantial growth until 2030.

Growing Air Travel and Fleet Expansion to Provide Viable Market Output

The increasing demand for air travel, driven by factors such as economic growth, rising middle-class populations, and expanding tourism, serves as a key driver for the Drinking Water Aircraft Service Cart market. As airlines look to expand their fleets to meet the growing passenger demand, there is a parallel need for efficient and reliable service carts to cater to the potable water requirements of passengers and crew. The expansion of aircraft fleets worldwide creates opportunities for manufacturers and suppliers of Drinking Water Aircraft Service Carts to meet the escalating demand for these essential in-flight services.

November 2021, IndiGo, a low-cost carrier based in India, has announced the resumption of its meal services, which were previously suspended due to the COVID-19 pandemic. This decision follows the Indian Civil Aviation Ministry's authorization for airlines to reintroduce in-flight meal services on all domestic flights.

(Source:m.economictimes.com/industry/transportation/airlines-/-aviation/indigo-to-resume-on-board-meal-services/articleshow/87765606.cms)

Emphasis on Hygiene and Passenger Well-being to Propel Market Growth

The aviation industry's heightened focus on hygiene and passenger well-being, particularly in the wake of the COVID-19 pandemic, acts as a significant driver for the Drinking Water Aircraft Service Cart market. Airlines are increasingly prioritizing cleanliness and sanitation protocols, and potable water supply is a critical component of these efforts. Passengers expect airlines to provide safe and clean drinking water during flights. Therefore, the demand for advanced, contamination-resistant, and easily maintainable Drinking Water Aircraft Service Carts has surged, driven by the industry's commitment to ensuring a safe and healthy in-flight experience for travelers.

In July 2021, gategroup signed a partnership renewal agreement with LATAM Airlines to provide inflight catering services for an additional five years. According to the agreement, gategroup will serve LATAM Airlines at 16 locations, which include two new strategic domestic locations: Bogotá, Colombia, and Santiago, Chile.

(Source:www2.gategroup.com/newsroom/gategroup/latam-airlines-partnership-renewal/)

Market Dynamics of Drinking Water Aircraft Service Cart

Stringent Regulatory Compliance and Certification Requirements to Restrict Market Growth

One of the significant challenges in the Drinking Water Aircraft Service Cart market is the stringent regulatory standards and certification requirements imposed by aviation authorities. The design, manufacturing, and maintenance of Drinking Water Aircraft Service Carts must adhere to strict guidelines to ensure the safety and quality of potable water supplied to passengers and crew during flights. Complying with these regulations not only increases the complexity of production but also adds to the overall cost. Manufacturers and operators face the challenge of staying abreast of evolving aviation standards, often leading to longer development cycles and increased operational expenses.

Impact of COVID–19 on the Drinking Water Aircraft Service Cart Market

The COVID-19 pandemic had a significant impact on the Drinking Water Aircraft Service Cart market as the aviation industry faced unprecedented challenges. With widespread travel restrictions, lockdowns, and a substantial reduction in air travel, airlines experienced a sharp decline in passenger demand. This, in turn, led to a temporary downturn in the demand for new aircraft and related services, including the procurement o...

At the end of financial year 2023, IndiGo reported around 544.5 billion Indian rupees in operating revenue. It was followed distantly by Air India, with an operating revenue of 314 billion rupees. Previously, Jet Airways dominated the Indian domestic air travel market. After a series of unprofitable years, the airline declared bankruptcy in early 2019.

According to Cognitive Market Research, the global Narrow Body Aircraft market size is USD XX billion in 2023 and will expand at a CAGR of 5.80% from 2023 to 2030

The demand for Narrow Body Aircrafts is rising due to the economic growth in air transportation and liberalization in air transportation is driving the growth of the market.
Demand for Six-abreast Cabin remains higher in the Narrow Body Aircraft market.
The Aircraft Lease category held the highest Narrow Body Aircraft market revenue share in 2023.
North American Narrow Body Aircraft will continue to lead, whereas the Asia-Pacific Narrow Body Aircraft market will experience the most substantial growth until 2030.

Air Travel Demand Recovery to Provide Viable Market Output

The resurgence of air travel demand stands as a key driver in the Narrow Body Aircraft market. As economies recover from the impact of the COVID-19 pandemic, the demand for efficient and cost-effective narrow-body aircraft is on the rise. Airlines are seeking to replenish and modernize their fleets to accommodate the growing need for point-to-point travel, regional connectivity, and flexible route planning, driving the demand for new narrow-body aircraft.

In Jan 2022, Embraer announced that it received an additional order for 20 E-Jets E2s from Azorra, a commercial aircraft lessor. The order includes a combination of E190-E2s and E195-E2s aircraft.

Source-www.prnewswire.com/news-releases/embraer-sa-azorra-places-order-for-20-embraer-e2-aircraft-301466452.html

Fuel Efficiency and Environmental Sustainability to Propel Market Growth

The emphasis on fuel efficiency and environmental sustainability serves as another critical driver in the Narrow Body Aircraft market. Airlines and aircraft manufacturers prioritize the development and adoption of fuel-efficient technologies to reduce operational costs and comply with stringent environmental regulations. With a focus on minimizing carbon emissions and enhancing overall sustainability, the market is witnessing increased demand for narrow-body aircraft equipped with state-of-the-art engines and aerodynamic features that contribute to reduced fuel consumption and environmental impact.

In November 2021, Indigo Partners' portfolio airlines, including Wizz Air, Frontier, Volaris, and JetSMART, have placed an order for an additional 255 A321neo Family aircraft as part of a collective agreement. This brings the total number of A320 Family aircraft ordered by the airlines within the Indigo Partners network to 1,145.

Source-www.airbus.com/en/newsroom/press-releases/2021-11-indigo-partners-portfolio-airlines-order-255-a321neo-family

Market Dynamics for the Narrow Body Aircraft Market

Supply Chain Disruptions to Restrict Market Growth

A significant restraint in the Narrow Body Aircraft market is the ongoing challenge of supply chain disruptions. The industry relies on a complex network of suppliers and manufacturers, and disruptions, such as those witnessed during the COVID-19 pandemic, can lead to delays in production, impacting the timely delivery of aircraft. These disruptions can affect the overall operational efficiency of airlines and increase costs for aircraft manufacturers, posing a key restraint in the dynamic landscape of the narrow-body aircraft market.

Impact of the Covid 19 on the Narrow Body Aircraft Market

The COVID-19 pandemic had a profound impact on the Narrow Body Aircraft market, disrupting global aviation on an unprecedented scale. The imposition of travel restrictions, lockdowns, and a drastic decline in passenger demand led to a severe downturn in the aviation industry. Airlines faced financial challenges, resulting in deferred or canceled narrow-body aircraft orders, as carriers sought to conserve cash and navigate the uncertainties of the crisis. Aircraft manufacturers experienced production delays and decreased demand, affecting their supply chains and overall operations. Airlines grounded significant portions of their narrow-body fleets, leading to reduced utilization and deferred deliveries. The pandemic also prompted a reevaluation of fleet strategies, with a focus on cost reduction and a shift towards more fuel-efficient and flexible narrow-body aircraft to meet changing travel patterns. As the industry gradually recovers, the impact of COVID-19 continues to shape the decisions of airlines and aircraft manufacturers, influencing fleet pla...

The Aircraft Health Monitoring Systems (AHMS) market is experiencing robust growth, driven by the increasing demand for enhanced aircraft safety, operational efficiency, and reduced maintenance costs. The market's Compound Annual Growth Rate (CAGR) of 6.00% from 2019 to 2024 indicates a steadily expanding market, projected to continue this trajectory through 2033. Key drivers include the rising adoption of predictive maintenance strategies (condition-based maintenance and prognostics), the integration of advanced sensor technologies, and the growing complexity of modern aircraft. The commercial aviation sector dominates the end-user segment, fueled by airlines' focus on minimizing downtime and optimizing fleet management. However, the military segment is also exhibiting significant growth, driven by the need for improved operational readiness and reduced maintenance expenses for military aircraft. Within the subsystem segment, aero-propulsion systems and avionics are major contributors, reflecting the criticality of these systems to aircraft operation and safety. Leading companies like Airbus, Boeing, GE Aviation, and Honeywell are actively shaping the market through continuous innovation in AHMS technologies and expanding their product portfolios to cater to evolving customer needs. The integration of advanced analytics and artificial intelligence is transforming the industry, allowing for more accurate predictions of potential failures and proactive maintenance scheduling. Geographical distribution shows North America and Europe currently holding the largest market shares, but Asia-Pacific is experiencing rapid growth, driven by increasing air travel and investment in aviation infrastructure. The market segmentation highlights the diverse applications of AHMS across various aircraft systems. Diagnostics, prognostics, and condition-based maintenance are critical components, transforming reactive maintenance into proactive strategies. This shift is significantly impacting the operational efficiency and cost-effectiveness of aircraft operations. Future growth will likely be influenced by technological advancements, such as the integration of IoT and AI, enhanced data analytics capabilities, and the expanding adoption of these technologies by smaller airlines and regional operators. Furthermore, regulatory changes promoting safety and efficiency will continue to create favorable market conditions for AHMS adoption. The competitive landscape is characterized by both established industry giants and specialized technology providers, driving innovation and competition within the market. Recent developments include: In April 2022, Lufthansa Technik announced that they have recently enhanced its AVIATAR digital platform with various new digital fleet management applications for the Boeing 737 NG (Next Generation), which are now made available to 737 operators around the world., In March 2022, Indigo announced that they have become the 55th airline to adopt the Skywise Health Monitoring (SHM) as its future fleet performance tool. The product which was launched in 2019, SHM gathers live diagnostic feeds from the aircraft through its ACARS (aircraft communications, addressing, and reporting system) link to the airline's information system. . Notable trends are: By End User, The Commercial Segment is Expected to Witness Significant Growth During the Forecast Period.

In 2024, aviation companies in India had a total of 610 aircraft, a significant portion of which were narrow-body aircraft. By the year 2034, the number of narrow-body aircraft would double to more than 1.25 thousand units from 2021. This was followed by turboprop and widebody type aircraft respectively.

Aviation industry in India

Before the coronavirus pandemic took its toll on the country, the aviation industry was on a positive trajectory of development. Aircraft traffic saw an all-time high in fiscal year 2019 at 2.6 million movements. It was one of the world’s largest aviation markets by number of airline passengers. The passenger airline market of the country was dominated by private low-cost airlines, among which IndiGo held the dominant position.

Expanding airline fleets

In June 2023, almost at the same time, IndiGo placed an order for 500 Airbus aircraft, while Air India ordered 470 aircraft from both Airbus and Boeing. The order of 500 aircraft has set the record for the largest single purchase agreement in the history of commercial aviation, with Air India's order being the second largest. All 500 aircraft in the order come from the A320 family, a series of narrow-body airliners. They are primarily intended for domestic flights within India. In contrast, the aircraft ordered by Air India included 70 widebody planes, from the Airbus A350 family as well as Boeing’s 787 Dreamliners and 777Xs. This new order followed closely after the Tata Group’s acquisition of Air India from the government of India.

According to Cognitive Market Research, the global Commercial Aircraft Airborne Collision Avoidance System market size will be USD 450.8 million in 2023. It will expand at a compound annual growth rate (CAGR) of 4.80% from 2023 to 2030.

North America held the major market of more than 40% of the global revenue with market size of USD 180.32 million in 2023 and will grow at a compound annual growth rate (CAGR) of 3.0% from 2023 to 2030
Europe Commercial Aircraft Airborne Collision Avoidance System is projected to expand at a compound annual growth rate (CAGR) of 3.3% from 2023 to 2030, Europe accounted for a share of over 30% of the global market size of USD 135.24 million
Asia Pacific held the market of more than 23% of the global revenue with market size of USD 103.68 million in 2023 and will grow at a compound annual growth rate (CAGR) of 6.8% from 2023 to 2030
Latin America market of more than 5% of the global revenue with market size of USD 22.54 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2023 to 2030
Middle East and Africa held the major market of more than 2% of the global revenue with market size of USD 9.02 million in 2023 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030
The demand for Commercial Aircraft Airborne Collision Avoidance Systems is rising due to the globalization of economies.
Demand for software remains higher in the Commercial Aircraft Airborne Collision Avoidance System market.
The narrow-body aircraft category held the highest Commercial Aircraft Airborne Collision Avoidance System market revenue share in 2023.

Enhanced Safety Regulations by Authorities to Provide Viable Market Output

The enhanced safety regulations by authorities in the Commercial Aircraft Airborne Collision Avoidance System market are influencing the growth. Stringent safety measures mandated by authorities worldwide compel airlines to adopt advanced collision avoidance systems to ensure passenger safety. ACAS plays a pivotal role in preventing mid-air collisions, offering real-time threat assessment and resolution advisories. As regulatory bodies increasingly prioritize aviation safety, the demand for robust collision avoidance technologies grows. In compliance with these regulations, airlines are investing in state-of-the-art ACAS solutions, propelling the market forward and fostering a safer aviation environment.

For instance, as per the International Civil Aviation Organization (ICAO) Annex 10, Version 7.1, TCAS II is mandated by the US for commercial aircraft, including regional aircraft, with more than 30 seats or a maximum take-off weight greater than 33,000 lbs.

(Source:www.faa.gov/documentlibrary/media/advisory_circular/tcas%20ii%20v7.1%20intro%20booklet.pdf)

Rising Procurement Contracts from Airlines to Propel Market Growth

The rise in airline procurement contracts has significantly impacted the Commercial Aircraft Airborne Collision Avoidance System market. Globally, airlines are increasingly recognizing the crucial role of ACAS in enhancing flight safety and meeting regulatory requirements. The growing awareness of the need for advanced collision avoidance technologies to prevent mid-air collisions has prompted airlines to invest in modernizing their fleets. Additionally, stringent aviation safety standards and the increasing volume of air traffic further propel the demand for ACAS. This trend drives manufacturers to innovate and deliver advanced ACAS solutions, fostering a competitive market driven by the imperative to ensure airspace safety for the aviation industry.

For instance, in June 2023, IndiGo announced the largest-ever single aircraft purchase order of 500 Airbus A320 family of narrow-body aircraft. The aircraft will be shared between 2030 and 2035. The airlines announced that the order book consists of A320 New Engine Options (NEO), A321NEO, and A321XLR aircraft.

(Source:www.goindigo.in/press-releases/indigo-orders-500-airbus-a320-family-aircraft.html)

Market Restraints of the Commercial Aircraft Airborne Collision Avoidance System

High Cost of Implementation to Restrict Market Growth

The high cost of implementation in Commercial Aircraft Airborne Collision Avoidance Systems can hinder market growth. The installation and maintenance expenses associated with advanced ACAS technologies, such as TCAS (Traffic Collision Avoidance System), can be substantial fo...

The scheduled Indian aviation industry had nearly 73 thousand airline personnel in financial year 2023. IndiGo had the highest percentage of this total personnel employed in its private airlines in that year. It employed over 32 thousand personnel, among which more than four thousand were pilots and co-pilots. Foreign hires In 2021, the regulating body for civil aviation issued 863 commercial pilot licenses. However, there was a shortage of type-rated commanders due to the induction of new types of aircraft and the expanding fleet. IndiGo, had the most foreign pilot recruitments. This was followed by GoAir and AllianceAir. On a year-over-year basis, the number of foreign pilots flying in India rose by over three times. Airlines were expected to draw and submit a phase out plan for expat pilots. Maintenance, repair and overhaul-MRO In order to achieve a five trillion U.S. dollar economy, recently the government while announcing the economic restructuring of the aviation sector, reduced the goods and service tax from 18 percent to five percent for this sector. The contribution of this sector in the global MRO sector was minuscule, but with a growing fleet size, this share was expected to increase. By 2032, the market size of the MRO sector in India was estimated to be almost four times that in 2022.

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Global Aircraft Towbars Industry Overview

The continuous growth in the number of low-cost carriers is one of the key factors promoting the aircraft towbars market's growth during the forecast period. Owing to the growth in air traffic and rising demand for economic flights, the demand for low-cost carriers will increase considerably in the forthcoming years. In addition, with the rapid growth in international tourism and domestic air travel, there has been an increased need for low-cost carriers to expand their fleets in order to meet the demand for aircraft towbars. This is expected to increase the need for aircraft tow bars during the forecast period. Furthermore, the charges incurred by low-cost carriers are comparatively lower than those incurred by full-service carriers, which is attracting more customers, especially those traveling with limited budgets. Consequently, with more and more low-cost carriers such as Southwest Airlines, AirAsia, Indigo, and SpiceJet planning on the expansion of their aircraft fleets, the global aircraft towbars market demand will continue to grow considerably in the forthcoming years.

Companies covered

The aircraft towbars market is fragmented owing to the presence of several aircraft towbar manufacturers leveraging advanced technologies to offer superior products. By offering a complete analysis of the market's competitive landscape and with information on the products offered by the companies, this aircraft tow bars industry analysis report will aid clients in identifying new growth opportunities and designing innovative strategies to improve their position in the market.

The report offers a complete analysis of various companies including:

Brackett Aircraft Company 
HYDRO SYSTEMS
K&M Airporttechnik
Techman-Head Group
Tronair

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Aircraft towbars market growth based on geographic regions

Americas
APAC
EMEA

With a complete study of the growth opportunities for the companies across regions such as the Americas, APAC, and EMEA, our industry research analysts have estimated that countries in the Americas will contribute to the highest aircraft towbars market growth throughout the predicted period.

Aircraft towbar market segmentation based on technology

Conventional
Electric

According to Technavio's aircraft towbars market research study, the conventional aircraft towbar segment will account for the highest growth in the market than electric aircraft towbars. Additionally, the report also provides an accurate prediction of the contribution of the various technology segments to the growth of airplane towbar market size.

Key highlights of the global aircraft towbars market for the forecast years 2019-2023:

CAGR of the market during the forecast period 2019-2023
Detailed information on factors that will accelerate the growth of the aircraft towbars market during the next five years
Precise estimation of the global aircraft towbars market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
Growth of the aircraft towbars industry across various geographies such as the Americas, APAC, and EMEA
A thorough analysis of the market's competitive landscape and detailed information on several vendors
Comprehensive information about factors that will challenge the growth of aircraft towbar companies

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