According to a recently published research report by Research Nester on “Aircraft Landing Solutions Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global aircraft landing solutions market in terms of market segmentation by application, by type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global aircraft landing solutions market is segmented by type and application. On the basis of type, the market is segmented into single takeoff & landing guiding system and complete air traffic solution kits. On the basis of application, the market is segmented into passenger, cargo, private aircrafts, defense and government.
The market is anticipated to record a CAGR of around 6% during the forecast period i.e. 2019-2027 owing to the increasing runway accidents and causalities. The accidents have been majorly recorded at the time of landing resulting in high financial and human life losses due to wrong judgment of pilots about the various parameters. A loss of approximately 1 billion dollar is incurred globally on the back of landing accidents which is expected to lead the increased adoption of better aircraft landing solutions. The passenger segment out of the various sub segments of market based on application is anticipated to have leading shares on account of increased usage of aircrafts for travelling coupled with provision of different types, size, economies and configurations of aircrafts in accordance to the customer demand. The single takeoff & landing guiding system segment is anticipated to witness significant growth during the forecast period on the back of the advancements made in the landing gear systems and the constant investment of market players in order to develop landing gear that are light weight.
Geographically, North America is anticipated to have leading shares on the back of presence of key market players in the region coupled with the high safety regulations imposed by the government. Europe is anticipated to showcase significant growth on the back of increasing investments in the aviation sector in order to provide various facilities to customers and improve customer loyalty. Asia-Pacific is anticipated to witness significant growth on the back of high contribution of the developing countries in the aviation sector.
The huge investment of government and private sector airlines in industry to provide resources that result in safe and precise landing to retain customer loyalty, satisfaction and acquire new customers are expected to drive the product demand. However, high initial cost to incorporate these solutions and low return on investment coupled with cost involved in training the personnel and professionals are expected to operate as key restraints to the growth of global aircraft landing solutions market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global aircraft landing solutions market which includes company profiling of Honeywell Technology, ATG Airports, DFS Deutsche Flugsicherung, Raytheon Compan and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global aircraft landing solutions market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.