Market Overview
The global enhanced flight vision systems market could project a healthy CAGR of around 5% during the forecast period (2017-2023), reveals Market Research Future (MRFR).
Global Enhanced Flight Vision Systems Market by Technology (Infrared, Synthetic Vision, and Others), Component (Display, Camera, Sensor, and Others), Platform (Fixed-Wing & Rotary-Wing) and Region – Global Forecast to 2023
Top Players:
The top players shaping the worldwide enhanced flight vision system market include Honeywell International, Inc. (U.S.), L-3 Communications Holdings, Inc. (U.S.), Elbit Systems Ltd. (Israel), Thales Group (France), United Technologies Corporation (U.S.), among others.
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Market Drivers and Top Barriers:
Growing concern over ensuring aviation safety has benefitted the enhanced flight vision systems market to a great extent. With that said, high costs associated with these systems could have a detrimental effect on the market in the coming years. On a brighter note, the implementation of highly advanced flight vision systems in aircraft and related retrofit as well as aftermarket options are presenting a host of growth opportunities to the worldwide market.
The enhanced flight vision systems market dynamics is changing as a result of a host of developments taking place in the form of acquisitions and partnerships. Citing a reference, Elbit Systems is in the process to acquire Universal Avionics Systems Corporation to expand its product portfolio. In another news, Astronics Corporation has collaborated with Federal Aviation Administration (FAA) to research about the scope of application of enhanced vision systems in helicopters. Following the collaboration, Astronics Corporation developed a high-resolution enhanced flight vision system for homebuilt and experimental aircraft, which has a long-wave infrared thermal imager with electronic zoom.
Market Segmentation:
The global enhanced flight vision systems market has been segmented with respect to technology, component and platform.
With context to technology, the enhanced flight vision systems market includes infrared, synthetic vision, global positioning system, and millimeter wave radar. Among these, the millimeter wave radar segment could achieve the fastest growth rate during the forecast period. The segment’s fast paced growth is the result of the millimeter wave radar’s ability to function without depending on weather conditions and ensuring accurate vision and safe navigation.
Component-wise, the enhanced flight vision systems market can be considered for display unit, camera, sensor, and other components. The display unit has been identified as a vital component of the enhanced flight vision system as it exhibits infrared imagery as well as graphical display of information collected from several onboard sensors. Its growing demand in the market is due to the rising for improved situational awareness as well as the high demand for high definition displays.
The types of platforms mentioned in the report are fixed-wing and rotary-wing.
Regional Insights:
The enhanced flight vision systems market is mainly concentrated in the regions of Latin America, Europe, North America, Middle East & Africa, and Asia Pacific.
North America is touted to be the leading market for enhanced flight vision system market during the evaluation period. The region is technologically progressive and is marked with the presence of numerous original component and equipment manufacturers like Astronics Corporation (U.S.) and Honeywell International, Inc. (U.S.). The companies are making considerable investments in research and development (R&D) for the development of advanced airborne electronics. Thus, the rising focus on elevating aviation safety boosts the regional market growth.
Asia Pacific is the fastest growing regional market in the world. It has been noted that the region witnesses various technological changes within the aerospace sector. The demand for aircraft has risen exponentially within developing countries like India and China in recent years, compared to developed economies. Apart from this, the renowned players in the region are banking on various strategies like acquisitions and partnerships that could elevate their market position and expand their customer base as well.
Soaring demand for safety and reliable airline operations and unstable weather conditions could benefit the enhanced flight vision systems market in Europe. Also, significant technological innovation of equipment by top players in the region trigger market demand.
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