Enhanced Vision Systems Market 2020: Emerging Technologies and Growth Analysis by Forecast to 2023
Overview:
In this rapidly changing world of technology, enhanced vision systems concept has come up with different technologies to facilitate safer approaches and landings.
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Enhanced vision systems is helping in improving situational awareness, not only during take-off, approach and landing, but also during ground maneuvering. This is one of the primary benefit of enhanced vision systems. It also helps in providing navigational aid to the pilots and thereby reducing the number of accidents. Provision of better situational awareness helps in safe operations to avoid any mishaps. Enhanced vision systems also allow pilots to operate at remote locations with inadequate airport facilities.
For upgradation of components, there is a high amount of investment involved with a lengthy clearance process. These are major market restraints that causing hindrance in the growth of enhanced vision systems market.
The enhanced vision systems market is growing rapidly over 4% of CAGR and is expected to reach at USD 262 million by the end of forecast period.
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Segmentation:
The enhanced vision systems market has been segmented on the basis of technology, component, platform and regional. The components segment comprises of sensors, processing unit, control electronics, camera and display. Enhanced vision systems use sensors like infrared or radar to provide a better view of the outside world.
Regional Analysis:
The regional analysis of location of things market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that, North America is estimated to lead the enhanced vision systems market during the forecast period. In North America region, the enhanced vision systems market is driven by the presence of large number of OCMs (original component manufacturers) and the presence of key market players like Honeywell International, Inc. (U.S.), United Technologies Corporation (U.S.), and L-3 Communications Holdings, Inc. (U.S.).
Whereas, the Asia-Pacific enhanced vision systems market is expected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the presence of large OEMs (original equipment manufacturers), such as HALBIT Avionics Private Limited (India) and Samtel Group (India), demand for increased safety and reliable airline operations, and fluctuating weather conditions in the region.
Key Players:
The prominent players in the enhanced vision systems market are – Astronics Corporation (U.S.), Elbit Systems Ltd. (Israel), Esterline Technologies Corporation (U.S.), Honeywell International, Inc. (U.S.), L-3 Communications Holdings, Inc. (U.S.), MBDA (U.K.), Opgal (Israel), Rockwell Collins, Inc. (U.S.), Thales Group (France), United Technologies Corporation (U.S.) among others.
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