Hexagon AB announced the launch of next-generation collision avoidance technology known as Version 10 of HxGN MineProtect Collision Avoidance System.
Honeywell International Inc. announced the completion of initial testing of its new safety technology that helps business jets and airlines to avoid runway accidents and collisions.
Author Credits: Ipsheeta Dash, Sadaf Naaz
Report ID: 4892
Published Date: May 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increased implementation of safety regulations, rising sale of vehicles, and surging installation of collision avoidance system in aircraft- are the major factors driving the market growth.
The market size of collision avoidance system is anticipated to attain a CAGR of 10.74% over the forecast period, i.e., 2023-2035.
High cost of the collision avoidance system, and difficulty in detecting objects owing to weather conditions are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
The major players in the market are Robert Bosch GmbH, Honeywell International Inc., Hexagon AB, DENSO Corporation, Siemens AG, Autoliv Inc., Becker Mining Systems AG, Wabtec Corporation, Delphi, and others.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by application, technology, type, and by region.
The parking assistance segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.