Global Terrain Awareness and Warning System (TAWS) Market Driven by the growth in the aviation industry
The global market for terrain awareness and warning system (TAWS), according to the report by Market Research Future (MRFR), is expected to expand at 4.97% CAGR during the forecast period.
The major market players of the global TAWS market as identified by MRFR are Collins Aerospace (US), Aspen Avionics Inc. (US), Elbit Systems Ltd (Israel), Genesys Aerosystems (US), Garmin Ltd (US), Honeywell International Inc (US), Mid-Continent Instrument Co. Inc. (US), L3 Technologies Inc (US), Sandel Avionics Inc (US), and Thales Group (France), among others.
Drivers and Restraints
The growing need for aviation safety and upgrading ground proximity warning system (GPWS) with TAWS are some of the primary vital drivers driving the TAWS market. However, high installation costs can adversely impact market growth. The major driving factors of the TAWS market across the globe are the growing number of fleet globally and mandate to connect TAWS in aircraft by the directives of aviation regulatory bodies in significant economies, including the U.S., the U.K., and China, among many other countries. The significant factors that contributed to the market growth are the recent shift of the consumers in the transportation sector and the increase in the number of commercial flights.
Furthermore, the mandate that terrain awareness and warning systems should be present in the aircraft, which is stipulated by the aviation regulatory agencies are contributing to the market growth. Several developed regions have compelled to use TAWS for aircraft protection is helping the market to grow. The TAWS are being adopted in the cargo flights and private jets by the countries that have a high technological base thus affecting the market positively. Some factors are limiting the market growth which includes the high deployment cost, lack of skilled professionals and integrators.
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Segmental Analysis
the global TAWS market has been segmented on the basis of the market by aircraft type, system, and application.
Based on the system, the market for TAWS can be segmented into the Class C system, Class B system, Class A system, and. The Class A segment is leading the market with a market share of USD 181.3 million by 2023. Moreover, the Class B system segment is gaining fast traction and can reach a faster CAGR of 3.96% over the review period.
Based on aircraft type, the TAWS market comprises turbine engine-powered and piston engine powered. The turbine engine-powered segment is in the leading position where the market valuation is likely to register up to USD 218.55 million by 2023 at a higher CAGR of 5.04% during the forecast period.
Application-based segmentation of the TAWS market consists of military aircraft, commercial aircraft, and others. The commercial aircraft segment holds the maximum market share of up to USD 195 million by 2023. The segment is touted to grow with the fastest CAGR of 5.29% during the forecast period.
Regional Analysis
The geographic analysis of the TAWS market has been conducted in North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America.
Europe is leading the market growth with its market valuation rising up to USD 87.11 million by 2023, with a striking 5.02% CAGR during the assessment period. An upsurge in the number of aircraft positively impacts the need for aircraft safety, thus creating a requirement for latest terrain awareness and warning systems. Additionally, growing defense expenditure by countries, such as Russia and the UK, is bolstering the market growth.
Asia-Pacific has been assessed as the second largest market share. Large-scale investments by aircraft producers in enhancing aircraft operations and improving the overall passenger experience are anticipated to create new opportunities for market growth in the Asia-Pacific region. The regional market is projected to scale and surpass USD 81.08 million by 2023 at a significant 5.57% CAGR over the forecast period.
Key Developments
In February 2019, Garmin International, Inc., a unit of Garmin Ltd. developed the G1000 NXi integrated flight deck for the Cessna Citation Mustang. The G1000 NXi offers several new, and enhanced features and benefits comprise of wireless cockpit connectivity, SurfaceWatch, and split-screen capability
In April 2017, Collins Aerospace signed a contract to modify Pakistan Air Force’s C-130 aircraft fleet with Flight2 avionics suite. The firm would also provide modern digital autopilot, navigation sensors, safety and surveillance systems, SATCOM communications, weather radar, traffic collision avoidance systems, terrain awareness, digital map, and warning system
In June 2015, Elbit Systems Ltd. launched SuperVision, an advanced vision system, which presents pilots with an intuitive, conformal image of the world outside the cockpit, enabling them to fly in any terrain and under all visibility conditions
Key questions addressed by the report
- What was the historic market size (2017)?
- Which segmentation (Component / Solution/ Industry) is driving the market?
- What will be the growth rate by 2024?
- How are the key players in this market?
- What are the strategies adopted by key players?
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Brief Table of Contents:
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global Terrain Awareness and Warning System Market, by System
7 Global Terrain Awareness and Warning System Market, by Aircraft Type
8 Global Terrain Awareness and Warning System, by Application
9 Global Terrain Awareness and Warning System Market, by Region
10 Competitive Landscape
11 Company Profiles
12 List of Tables
13 List of Figures
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