Research Nester has released a report titled “Aircraft Synthetic Vision System Market - Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global aircraft synthetic vision system market in terms of market segmentation by application, display system, aircraft 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 synthetic vision system market is segmented by application into general aviation aircraft, business jets, rotorcraft and commercial transport. Increasing demand amongst business enthusiasts for comfort, privacy and lesser commutation time are some of the factors which are anticipated for the business jet segment to hold the largest market share during the forecast period.
The global aircraft synthetic vision system market is anticipated to record a CAGR of around 7% over the forecast period, i.e. 2019-2027. Aircraft synthetic vision systems provide enhanced operational capabilities which helps the pilot to drive the aircraft more confidently and thereby reduces the chances of accidents and other life threatening events, which is one of the important factors anticipated to drive the growth of the market. Furthermore, the system provides better situational awareness to the pilot with the help of 3D imaging facility and increasing controlled flight into terrain events (CFIT), which is also anticipated to drive the growth of the market.
Regionally, the global aircraft synthetic vision system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, North America is expected to hold leading market shares owing to recent developments in synthetic vision systems coupled with the presence of key market players and on being one of the largest aircraft market of the globe in terms of sales and operations.
On the back of recent developments and expansion of synthetic vision systems in Israel, various manufacturers are involving themselves in product development and expansion of market, which is contributing to the significant growth of market share in the region of Middle East & Africa.
Operational and Safety Benefits
The aircraft synthetic vision system is able to provide tactical advantage to the pilot by providing a 3D view of the external surrounding inside the cockpit. In order to overcome the degraded visual environmental situations, aircraft synthetic vision systems are introduced in the aircrafts, which have helped multifold to the pilots. Additionally, the safety and operational benefits provided by the system to reduce the accidents by using its intuitive display, presentation methods and improved situation recognition speed at the time of loss of terrain awareness, loss of altitude awareness, runway incursions, spatial disorientation and many other are some of the factors contributing significantly towards the growth of the market.
However, the high cost associated with the deployment of aircraft synthetic vision system is expected to operate as a key restraint to the growth of the global aircraft synthetic vision system market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global aircraft synthetic vision system market, which includes company profiling of ENSCO, Inc., Cobham, plc. (LON: COB), Honeywell International Inc. (NYSE: HON), X-Avionics, LLC, Collins Aerospace, Universal Avionics Systems Corproation, ZG Optique SA, Thales Group (EPA: HO), Avidyne Corporation and Elbit Systems Ltd. (TLV: ESLT). 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 synthetic vision system 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.