Asia Pacific and Latin America are other key regional segments contributing to the growth of global enhanced vision system market. Asia Pacific stood as one of the rapidly growing regional markets in 2016 with China, Japan, India, and South Korea contributing majorly to this regional market.
The global enhanced vision system market is on a growth trajectory on account of radical improvements in the aerospace sector for aircraft safety. Top notch aircraft manufacturers are opting for hi-tech avionics and navigation systems to raise alarm in the event of a possible danger.
Enhanced vision systems help to provide a detailed view of the terrain along with monitoring of various obstacles that may pose a challenge to the safety of aircraft.
Some of the key factors driving the global enhanced vision system market are the dire need to enhance aircraft safety, especially in limited visibility environments.
This is because enhanced vision system collects information from various aircraft based sensors, which includes near-infrared cameras to give complete view of the terrain, especially in extreme weather conditions.
Apart from this, in developed countries, regulation and policies in place necessitate aircraft to be equipped with advanced vision systems in the interest of pilot and passenger safety.
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A report by Transparency Market Research forecasts the global enhanced vision system to expand at a CAGR of 4.4% between 2017 and 2025. At this rate, the global enhanced vision system market is expected to peg an opportunity of US$312.4 mn by 2025 increasing from US$211.1 mn in 2016.
Easy Application of Synthetic Vision System Pushes Adoption
The global enhanced vision system market can be divided upon system into synthetic vision system and enhanced vision system. Of the two, the segment of synthetic vision leads the market on the back of its low cost and its easy application in aircraft.
However, advanced vision system is expected to surpass in terms of revenue over the forecast period.
In terms of component, the market has been segmented into sensors, cameras, display screen, and others. In 2016, display screen and camera led the growth of this market revenue-wise.
These segments are expected to display strong growth amongst other segments due to technological advancements that have led to the installation of advanced screens and camera for an enlarged view of the terrain. Sensors also form an important segment of the market.
The application segments into which the global enhanced vision system market is divided are aerospace and defense and others. For 2016, aerospace and defense led the market followed by others.
The dominance of aerospace and defense application segment is attributed to the increasing measures to enhance aircraft safety. Enhanced vision system captures radiation emitted from different sensors to help in landing or during extreme weather conditions thereby boosting the growth of this application segment.
Safety Regulations Propel Growth of North America Market
The key regional segments into which the enhanced vision system market is divided are North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. North America and Europe, amongst all, are key regional segments that collectively contribute more than 50% revenue to the global market.
The growth of the aerospace sector along with regulations that necessitate aerospace companies to deploy enhanced vision systems in both fixed and rotary wings aircraft have been key factors boosting growth in these regions.
Leading players operating in the global enhanced vision system market include Honeywell International Inc., United Technologies Corporation, Rockwell Collins Inc., Astronics Corporation, FLIR Systems Inc., Thales Group, Safran, HCL Embraer SA, and Elbit Systems Ltd. among others.
Global Enhanced Vision System Market: Market Segmentation
The global enhanced vison system market based on system has been segmented into synthetic vision system and enhanced vision system. This market has been further segmented into sensors, camera, display screen and others based on different components.
Furthermore, on the basis of applications this market includes aerospace & defense and others. Regions which are considered under the scope of this report includes North America, Middle East & Africa, Asia Pacific, Europe, and Latin America.
The revenue has been provided in USD million for this market along with respective CAGR for the forecast period of 2017 to 2025 has been provided within this report.
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Trends and related factors that may have an effect over the enhanced vision system market as a whole has been considered within the scope of this report. Competitive profiling of manufacturers that are present in the global market along with the business and strategic overview has also been covered within the scope of this report.
Drivers, challenges as well as opportunities present within this market has been covered within the report further providing a detailed review about the scope of this market in present and in future. Market attractiveness analysis along with market share of major players profiling the largest manufacturers have been covered under this report.
Besides all these, strategies adopted by the competitors are also complied under the scope of this report.
The market has been segmented as follows:
Global Enhanced Vision System Market – By System:
- Synthetic Vision System
- Enhanced Vision System
Global Enhanced Vision System Market - By Component:
- Display Screen
Global Enhanced Vision System Market - By Application:
- Aerospace & Defense
Global Enhanced Vision System Market - By Region:
- North America
- U. S.
- The UK
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest Of APAC
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
- Rest Of MEA
- Latin America
- Rest Of Latin America
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