According to a new research report on the Aircraft Fire Protection Systems Market from Marketsandmarkets this sector 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% between 2017 and 2022. Increasing demand for aircraft, modernisation of the existing aircraft, and the replacement of old aircraft with new aircraft which are more fuel efficient and lighter in weight are the few major factors driving the aircraft fire protection systems market.
Based on application, the engine segment of the aircraft fire protection systems market is estimated to grow at a higher rate during the forecast period. The growth of this segment can be attributed to the large number of smoke detectors and automated fire suppression systems. Cargo compartments are installed with extra layers of enhanced fire protection systems as aircraft crew is unable to enter cargo compartments during flight.
In terms of product, the fire suppression systems segment of the aircraft fire protection systems market is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for new aircraft from airlines coupled with mandates laid by various regulatory bodies over replacement of the fire suppression agents with halon free agents for both, existing and new fleets.
The linefit segment of the aircraft fire protection systems market is projected to grow at a higher CAGR than the retrofit segment during the forecast period. The higher growth rate of the linefit segment is attributed to the increase in aircraft orders as well as deliveries, economic growth across regions, and an increase in air passenger traffic.