Transparency Market Research (TMR) predicts that the global enhanced vision system market has a highly competitive vendor landscape. Companies including Honeywell International Inc., Rockwell Collins Inc., United Technologies Corporation, Astronics Corporation, Thales Group, and FLIR Systems Inc. are some of the enhanced vision system producers.
For establishing a strong presence in the market, the key players are increasingly looking to expand their product portfolio by introducing new products for meeting the required specifications demanded by the government agencies. Additionally, the key companies in the global enhanced vision system market are investing more in the research and development for introduction of advanced and novel products. Thus, the key players are also banking on the strategic acquisitions and partnerships.
According to TMR, the global enhanced vision system market is expected to expand at a CAGR of 4.4% over the forecast period to reach a value of US$312.4 mn by 2025-end. The market had acquired a value of US$211.1 mn in 2016.
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Based on vision, the synthetic vision segment dominated the enhanced vision systems market on the back of low cost and easy applications across numerous sectors. Based on component, in the year 2016, the display screen and camera dominated the global enhanced vision system market. Based on region, North America and Europe are key regions that are collectively contributing more than 50% in the overall revenue of the global enhanced vision system market.
Growing Adoption of EVS to Improve Visibility is Boosting Market Growth
The enhanced vision systems market is driven by the growing adoption and advancement in the enhanced vision system (EVS), which is the required for upgrading airplane. As enhanced vision systems collects data from other planes based on sensors and infrared cameras, which offers unique perspective on the surrounding and particularly in restricted vision conditions. The other favorable circumstances where enhanced vision systems are effective to collect bits of knowledge stating risks to airplanes and aircrafts. Thanks to these factors, the adoption of the enhanced vision systems is growing and likely to remain a key player to drive growth of the global enhanced vision systems market. The EVS offers a scope of pictures for showcasing screen that offers pilots visibility and knowledge about the land, particularly in case of poor vision.
Additionally, the growth of the global enhanced vision system market is driven by high investment in the developed nations such as the U.S. Guidelines and strategies by the bodies requires aircrafts to be outfitted in the enhanced vision systems due to legitimate concern for pilots and travelers. The growing investment in the market is boosting growth of the global enhanced vision systems market.
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Growing Use of EVS across Advanced Aircrafts to Boost Market Growth
The aviation sector is increasingly demanding for the enhanced vision system for progressing to achieve maximum operational efficiency, great insides, propelled flying, top of the line vision systems and commotion decrease systems. Growing advantages of aircrafts producers such as Airbus and Boeing settle tech electrical systems to offer pilot with an unmistakable perspective on the territory crosswise over extraordinary climate conditions. Growing adoption of enhanced vision systems in the advanced vision systems is boosting the growth of the global enhanced vision market. Thus, the growing greeting of the enhanced vision system over the aviation and resistance is further going about as a driver to the development of this market.
However, high cost of the advanced enhanced vision systems is restraining growth of the global enhanced vision systems market.
This information is encompassed in the report by TMR, titled, “Enhanced Vision System Market (System – Synthetic Vision System and Enhanced Vision System; Component – Sensors, Camera, and Display Screen; Application – Aerospace & Defense) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”
For the study, the enhanced vision system market has been segmented as follows:
- Synthetic Vision System
- Enhanced Vision System
- Display Screen
- Aerospace & Defense