Aircraft Evacuation Market
Aircraft Evacuation Market Forecasts to 2028 - Global Analysis By Equipment Type (Ejection Seat, Emergency Floatation, Evacuation Raft, Evacuation Slide and Life Vest), Aircraft Type (Narrow-Body Aircraft, Business Jet, Fighter Jet and Other Aircraft Types), Fit (Line fit and Retrofit) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $1.90 BN |
|
Projected Year Value (2028) |
US $3.01 BN |
|
CAGR (2022 - 2028) |
7.96% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Aircraft Evacuation Market is accounted for $1.90 billion in 2022 and is expected to reach $3.01 billion by 2028 growing at a CAGR of 7.96% during the forecast period. The term "aircraft evacuation" describes an emergency exit from an aircraft that can take place on dry land, in water, or while in flight. Standard evacuation procedures and specialized equipment are available. Any type of aircraft, including military, commercial, and civil ones, can have these systems installed. Governments all over the world are enacting strict regulations requiring airline operators to outfit their aircraft with the most up-to-date safety equipment.
According to the Economic Times, India is expected to increase by 100 airports in the coming 15 years to keep up with the rise in air passenger movement. Such expansion & development of new airports will generate the need for airport passenger security equipment and hence will drive the growth of the market.
Market Dynamics:
Driver:
Rise in number of air passengers globally
Airports are being built and expanded as a result of the increase in air passenger traffic around the world. The growth of the international commercial airport passenger security market will be fueled by the expansion and development of new airports, which will increase the demand for airport passenger security equipment. For instance, 50 airports in the United States spent an estimated 70 billion USD in 2018 on development and construction of new airports as well as the expansion of already existing airports. In addition, the Economic Times reports that India will add 100 airports in the next 15 years to keep up with the increase in air passenger traffic.
Restraint:
Fluctuations in raw material prices
Over the past ten years, raw material prices have remained remarkably unstable. The cost of manufacturing has increased due to the use of petroleum-based materials in aircraft evacuation systems, such as polyurethane-coated fabric (PCF). In addition, as demand has outpaced supply, prices have been impacted by taxes, duties, additional tariffs, and forced production shutdowns in offshore chemical-producing nations. The manufacturers' need to maintain their focus on price and product mix is forcing them to look for alternative raw materials, which is limiting the market's expansion.
Opportunity:
Introduction of RFID-based life vests in aviation
RFID is a proven technology that is applied in a wide range of industries for security implementation, asset tracking, and inventory management. The reader, which serves as both a transceiver and an antenna, and the transponder tag that is attached to the inventory asset are the two components that make up the system. The security tag on an RFID life vest allows for digital tamper detection using this technology, unlike tamper-evident labels that must be visually checked. A handheld scanner or fixed reader with mobile software can provide real-time information, including inventory location, expiration dates, and serial numbers, and generate all necessary documentation in accordance with requirements because RFID is encoded with all crucial information about the product. This enhances operational efficiency by enabling an entire aircraft to be scanned and verified in a matter of minutes while conserving valuable resources like time and money.
Threat:
Delays in delivery & Stringent aviation regulatory bodies
Any delay in a component's delivery could have a negative impact on the entire supply chain and postpone the delivery of an aircraft that is in good working order. Due to the need to maintain a sizable stock of raw materials and other parts and components due to delays in aircraft delivery, these present planning challenges for manufacturers of related systems and components, such as aircraft evacuation systems. As a result, the holding costs and total cost of production for a component rise, adding to the complexity of the raw material procurement process.
Covid-19 Impact
Due to the COVID-19 outbreak, the aviation industry saw a sharp decline in passengers, which had a significant negative impact on revenue in 2020. Lockdowns were implemented in a number of countries, including India, China, Japan, Australia, and Malaysia, to stop the disease's spread. Lockdowns were lifted in APAC in 2021, however, allowing for the restoration of a number of developmental and recreational activities as a result of the start of widespread vaccination campaigns in the area. Lockdowns were lifted, allowing both travelers and aircraft manufacturers to resume their operations.
The evacuation slide segment is expected to be the largest during the forecast period
Owing to the increased focus of airline carriers on the safety of passengers and crew, the evacuation slides segment is estimated to witness the largest share throughout the forecast period. To safeguard passengers and crew from dangers like fires, smoke, and toxic fumes, numerous government regulations and airline operating procedures have been put in place. In order to improve the chances of passengers surviving aviation accidents, airline operators are significantly upgrading their evacuation slides and rafts. .
The narrow-body aircraft segment is expected to have the highest CAGR during the forecast period
The narrow-body aircraft segment is expanding rapidly and will continue to register the highest growth rate over the forecast period. This is attributed to an increase in deliveries of narrow-body aircraft, the popularity of low-cost airlines, and fleet modernization. One of the main factors contributing to the high usage of narrow-body aircraft on medium-haul routes is the positive outlook for this market. The demand for narrow-body aircraft will also increase due to increased production of these aircraft by well-known manufacturers like Boeing, Airbus, Bombardier, and Embraer, which is fueling the segment expansion.
Region with largest share:
Due to its sizable civilian aviation market and vast military fleet, North America is expected to witness the largest share during the forecast period. Around 1,800 new units were produced in North America in 2018. Additionally, because the region is expected to produce nearly 37% of the world's aircraft evacuation systems, North America is the most lucrative region for stockholders in terms of fleet.
Region with highest CAGR:
A healthy demand for aircraft evacuation systems is anticipated in the Asia Pacific region due to the region's growing fleet of commercial aircraft over the past ten years. In addition, as a result of the increase in aircraft production, Australia, New Zealand, and Singapore are classified as emerging nations in the area, which is anticipated to fuel the market for aircraft evacuation systems during the forecast period.
Key players in the market
Some of the key players profiled in the Aircraft Evacuation Market include Alliance Marine, Astronics Corp., C&M Marine Aviation Services Inc., Cobham plc, Dart Aerospace Ltd., Deutsche Lufthansa AG, Eaton Corp. Plc, GKN Aerospace Services Limited, JAMCO Corp., Martin-Baker , ircraft Co. Ltd., NPP Zvezda PAO, Raytheon Technologies Corp., Safety Marine Australia Pty Ltd., Safran SA, Survitec Group Ltd., Survival Equipment Services Ltd., Switlik Parachute Co., The MEL Group, TransDigm Group Inc., Trelleborg AB, Tulmar Safety Systems, Wing Group and Zodiac Aerospace.
Key Developments:
In March 2023, DART Aerospace Acquires Colorado-Based Aircraft Equipment Manufacturer Paravion Technology Inc. and Century Helicopters Inc. DART’s acquisition of Paravion will allow the mission equipment and replacement parts manufacturer to broaden and diversify its product portfolio with over 1,500 STC. It will enable DART to offer several exciting new product categories to its global network of OEMs and helicopter operators, including heating and air conditioning systems and the Heliporter® tug.
In June 2022, Astronics Corporation a leading provider of advanced technologies for global aerospace, defense and other mission critical industries, announced the introduction of EmPower® UltraLite G2, the industry's most powerful and intelligent cabin power system for charging passenger electronic devices (PED). The innovative UltraLite G2 is a highly flexible and scalable passenger power system, allowing airlines to deploy the optimal PED power system for their budget and passenger's needs.
In October 2021, DART Aerospace announced it has signed an agreement for the supply of a new generation of Fire Attack® Systems for the FIREHAWK®, supporting DART’s mission to be the industry leader in aerial firefighting equipment manufacturing. DART Aerospace will be partnering with United Rotorcraft, the exclusive completion center for the FIREHAWK®, for the development and certification of lightweight Fire Attack® systems.
Equipment Types Covered:
• Ejection Seat
• Emergency Floatation
• Evacuation Raft
• Evacuation Slide
• Life Vest
Aircraft Types Covered:
• Narrow-Body Aircraft
• Business Jet
• Fighter Jet
• Helicopter
• Regional Transport Aircraft
• Very Large Aircraft
• Wide-Body Aircraft
Fits Covered:
• Line fit
• Retrofit
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Emerging Markets
3.7 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Aircraft Evacuation Market, By Equipment Type
5.1 Introduction
5.2 Ejection Seat
5.3 Emergency Floatation
5.4 Evacuation Raft
5.5 Evacuation Slide
5.6 Life Vest
6 Global Aircraft Evacuation Market, By Aircraft Type
6.1 Introduction
6.2 Narrow-Body Aircraft
6.3 Business Jet
6.4 Fighter Jet
6.5 Helicopter
6.6 Regional Transport Aircraft
6.7 Very Large Aircraft
6.8 Wide-Body Aircraft
7 Global Aircraft Evacuation Market, By Fit
7.1 Introduction
7.2 Line fit
7.3 Retrofit
8 Global Aircraft Evacuation Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Alliance Marine
10.2 Astronics Corp.
10.3 C&M Marine Aviation Services Inc.
10.4 Cobham plc
10.5 Dart Aerospace Ltd.
10.6 Deutsche Lufthansa AG
10.7 Eaton Corp. Plc
10.8 GKN Aerospace Services Limited
10.9 JAMCO Corp.
10.10 Martin-Baker Aircraft Co. Ltd.
10.11 NPP Zvezda PAO
10.12 Raytheon Technologies Corp.
10.13 Safety Marine Australia Pty Ltd.
10.14 Safran SA
10.15 Survitec Group Ltd.
10.16 Survival Equipment Services Ltd.
10.17 Switlik Parachute Co.
10.18 The MEL Group
10.19 TransDigm Group Inc.
10.20 Trelleborg AB
10.21 Tulmar Safety Systems
10.22 Wing Group
10.23 Zodiac Aerospace
List of Tables
1 Global Aircraft Evacuation Market Outlook, By Region (2020-2028) ($MN)
2 Global Aircraft Evacuation Market Outlook, By Equipment Type (2020-2028) ($MN)
3 Global Aircraft Evacuation Market Outlook, By Ejection Seat (2020-2028) ($MN)
4 Global Aircraft Evacuation Market Outlook, By Emergency Floatation (2020-2028) ($MN)
5 Global Aircraft Evacuation Market Outlook, By Evacuation Raft (2020-2028) ($MN)
6 Global Aircraft Evacuation Market Outlook, By Evacuation Slide (2020-2028) ($MN)
7 Global Aircraft Evacuation Market Outlook, By Life Vest (2020-2028) ($MN)
8 Global Aircraft Evacuation Market Outlook, By Aircraft Type (2020-2028) ($MN)
9 Global Aircraft Evacuation Market Outlook, By Narrow-Body Aircraft (2020-2028) ($MN)
10 Global Aircraft Evacuation Market Outlook, By Business Jet (2020-2028) ($MN)
11 Global Aircraft Evacuation Market Outlook, By Fighter Jet (2020-2028) ($MN)
12 Global Aircraft Evacuation Market Outlook, By Helicopter (2020-2028) ($MN)
13 Global Aircraft Evacuation Market Outlook, By Regional Transport Aircraft (2020-2028) ($MN)
14 Global Aircraft Evacuation Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
15 Global Aircraft Evacuation Market Outlook, By Wide-Body Aircraft (2020-2028) ($MN)
16 Global Aircraft Evacuation Market Outlook, By Fit (2020-2028) ($MN)
17 Global Aircraft Evacuation Market Outlook, By Line fit (2020-2028) ($MN)
18 Global Aircraft Evacuation Market Outlook, By Retrofit (2020-2028) ($MN)
19 North America Aircraft Evacuation Market Outlook, By Country (2020-2028) ($MN)
20 North America Aircraft Evacuation Market Outlook, By Equipment Type (2020-2028) ($MN)
21 North America Aircraft Evacuation Market Outlook, By Ejection Seat (2020-2028) ($MN)
22 North America Aircraft Evacuation Market Outlook, By Emergency Floatation (2020-2028) ($MN)
23 North America Aircraft Evacuation Market Outlook, By Evacuation Raft (2020-2028) ($MN)
24 North America Aircraft Evacuation Market Outlook, By Evacuation Slide (2020-2028) ($MN)
25 North America Aircraft Evacuation Market Outlook, By Life Vest (2020-2028) ($MN)
26 North America Aircraft Evacuation Market Outlook, By Aircraft Type (2020-2028) ($MN)
27 North America Aircraft Evacuation Market Outlook, By Narrow-Body Aircraft (2020-2028) ($MN)
28 North America Aircraft Evacuation Market Outlook, By Business Jet (2020-2028) ($MN)
29 North America Aircraft Evacuation Market Outlook, By Fighter Jet (2020-2028) ($MN)
30 North America Aircraft Evacuation Market Outlook, By Helicopter (2020-2028) ($MN)
31 North America Aircraft Evacuation Market Outlook, By Regional Transport Aircraft (2020-2028) ($MN)
32 North America Aircraft Evacuation Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
33 North America Aircraft Evacuation Market Outlook, By Wide-Body Aircraft (2020-2028) ($MN)
34 North America Aircraft Evacuation Market Outlook, By Fit (2020-2028) ($MN)
35 North America Aircraft Evacuation Market Outlook, By Line fit (2020-2028) ($MN)
36 North America Aircraft Evacuation Market Outlook, By Retrofit (2020-2028) ($MN)
37 Europe Aircraft Evacuation Market Outlook, By Country (2020-2028) ($MN)
38 Europe Aircraft Evacuation Market Outlook, By Equipment Type (2020-2028) ($MN)
39 Europe Aircraft Evacuation Market Outlook, By Ejection Seat (2020-2028) ($MN)
40 Europe Aircraft Evacuation Market Outlook, By Emergency Floatation (2020-2028) ($MN)
41 Europe Aircraft Evacuation Market Outlook, By Evacuation Raft (2020-2028) ($MN)
42 Europe Aircraft Evacuation Market Outlook, By Evacuation Slide (2020-2028) ($MN)
43 Europe Aircraft Evacuation Market Outlook, By Life Vest (2020-2028) ($MN)
44 Europe Aircraft Evacuation Market Outlook, By Aircraft Type (2020-2028) ($MN)
45 Europe Aircraft Evacuation Market Outlook, By Narrow-Body Aircraft (2020-2028) ($MN)
46 Europe Aircraft Evacuation Market Outlook, By Business Jet (2020-2028) ($MN)
47 Europe Aircraft Evacuation Market Outlook, By Fighter Jet (2020-2028) ($MN)
48 Europe Aircraft Evacuation Market Outlook, By Helicopter (2020-2028) ($MN)
49 Europe Aircraft Evacuation Market Outlook, By Regional Transport Aircraft (2020-2028) ($MN)
50 Europe Aircraft Evacuation Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
51 Europe Aircraft Evacuation Market Outlook, By Wide-Body Aircraft (2020-2028) ($MN)
52 Europe Aircraft Evacuation Market Outlook, By Fit (2020-2028) ($MN)
53 Europe Aircraft Evacuation Market Outlook, By Line fit (2020-2028) ($MN)
54 Europe Aircraft Evacuation Market Outlook, By Retrofit (2020-2028) ($MN)
55 Asia Pacific Aircraft Evacuation Market Outlook, By Country (2020-2028) ($MN)
56 Asia Pacific Aircraft Evacuation Market Outlook, By Equipment Type (2020-2028) ($MN)
57 Asia Pacific Aircraft Evacuation Market Outlook, By Ejection Seat (2020-2028) ($MN)
58 Asia Pacific Aircraft Evacuation Market Outlook, By Emergency Floatation (2020-2028) ($MN)
59 Asia Pacific Aircraft Evacuation Market Outlook, By Evacuation Raft (2020-2028) ($MN)
60 Asia Pacific Aircraft Evacuation Market Outlook, By Evacuation Slide (2020-2028) ($MN)
61 Asia Pacific Aircraft Evacuation Market Outlook, By Life Vest (2020-2028) ($MN)
62 Asia Pacific Aircraft Evacuation Market Outlook, By Aircraft Type (2020-2028) ($MN)
63 Asia Pacific Aircraft Evacuation Market Outlook, By Narrow-Body Aircraft (2020-2028) ($MN)
64 Asia Pacific Aircraft Evacuation Market Outlook, By Business Jet (2020-2028) ($MN)
65 Asia Pacific Aircraft Evacuation Market Outlook, By Fighter Jet (2020-2028) ($MN)
66 Asia Pacific Aircraft Evacuation Market Outlook, By Helicopter (2020-2028) ($MN)
67 Asia Pacific Aircraft Evacuation Market Outlook, By Regional Transport Aircraft (2020-2028) ($MN)
68 Asia Pacific Aircraft Evacuation Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
69 Asia Pacific Aircraft Evacuation Market Outlook, By Wide-Body Aircraft (2020-2028) ($MN)
70 Asia Pacific Aircraft Evacuation Market Outlook, By Fit (2020-2028) ($MN)
71 Asia Pacific Aircraft Evacuation Market Outlook, By Line fit (2020-2028) ($MN)
72 Asia Pacific Aircraft Evacuation Market Outlook, By Retrofit (2020-2028) ($MN)
73 South America Aircraft Evacuation Market Outlook, By Country (2020-2028) ($MN)
74 South America Aircraft Evacuation Market Outlook, By Equipment Type (2020-2028) ($MN)
75 South America Aircraft Evacuation Market Outlook, By Ejection Seat (2020-2028) ($MN)
76 South America Aircraft Evacuation Market Outlook, By Emergency Floatation (2020-2028) ($MN)
77 South America Aircraft Evacuation Market Outlook, By Evacuation Raft (2020-2028) ($MN)
78 South America Aircraft Evacuation Market Outlook, By Evacuation Slide (2020-2028) ($MN)
79 South America Aircraft Evacuation Market Outlook, By Life Vest (2020-2028) ($MN)
80 South America Aircraft Evacuation Market Outlook, By Aircraft Type (2020-2028) ($MN)
81 South America Aircraft Evacuation Market Outlook, By Narrow-Body Aircraft (2020-2028) ($MN)
82 South America Aircraft Evacuation Market Outlook, By Business Jet (2020-2028) ($MN)
83 South America Aircraft Evacuation Market Outlook, By Fighter Jet (2020-2028) ($MN)
84 South America Aircraft Evacuation Market Outlook, By Helicopter (2020-2028) ($MN)
85 South America Aircraft Evacuation Market Outlook, By Regional Transport Aircraft (2020-2028) ($MN)
86 South America Aircraft Evacuation Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
87 South America Aircraft Evacuation Market Outlook, By Wide-Body Aircraft (2020-2028) ($MN)
88 South America Aircraft Evacuation Market Outlook, By Fit (2020-2028) ($MN)
89 South America Aircraft Evacuation Market Outlook, By Line fit (2020-2028) ($MN)
90 South America Aircraft Evacuation Market Outlook, By Retrofit (2020-2028) ($MN)
91 Middle East & Africa Aircraft Evacuation Market Outlook, By Country (2020-2028) ($MN)
92 Middle East & Africa Aircraft Evacuation Market Outlook, By Equipment Type (2020-2028) ($MN)
93 Middle East & Africa Aircraft Evacuation Market Outlook, By Ejection Seat (2020-2028) ($MN)
94 Middle East & Africa Aircraft Evacuation Market Outlook, By Emergency Floatation (2020-2028) ($MN)
95 Middle East & Africa Aircraft Evacuation Market Outlook, By Evacuation Raft (2020-2028) ($MN)
96 Middle East & Africa Aircraft Evacuation Market Outlook, By Evacuation Slide (2020-2028) ($MN)
97 Middle East & Africa Aircraft Evacuation Market Outlook, By Life Vest (2020-2028) ($MN)
98 Middle East & Africa Aircraft Evacuation Market Outlook, By Aircraft Type (2020-2028) ($MN)
99 Middle East & Africa Aircraft Evacuation Market Outlook, By Narrow-Body Aircraft (2020-2028) ($MN)
100 Middle East & Africa Aircraft Evacuation Market Outlook, By Business Jet (2020-2028) ($MN)
101 Middle East & Africa Aircraft Evacuation Market Outlook, By Fighter Jet (2020-2028) ($MN)
102 Middle East & Africa Aircraft Evacuation Market Outlook, By Helicopter (2020-2028) ($MN)
103 Middle East & Africa Aircraft Evacuation Market Outlook, By Regional Transport Aircraft (2020-2028) ($MN)
104 Middle East & Africa Aircraft Evacuation Market Outlook, By Very Large Aircraft (2020-2028) ($MN)
105 Middle East & Africa Aircraft Evacuation Market Outlook, By Wide-Body Aircraft (2020-2028) ($MN)
106 Middle East & Africa Aircraft Evacuation Market Outlook, By Fit (2020-2028) ($MN)
107 Middle East & Africa Aircraft Evacuation Market Outlook, By Line fit (2020-2028) ($MN)
108 Middle East & Africa Aircraft Evacuation Market Outlook, By Retrofit (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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