Backed by favorable regulations and radical improvements in the aerospace sector, the global enhanced vision system market will continue exhibiting a steady growth. With top notch manufacturers opting for high-performing navigation systems and avionics, detecting potential danger with improved accuracy has become reality. These factors favor the adoption of enhanced vision systems as they offer a bird’s eye view of terrain besides monitoring hindrances threatening aircraft security. Spurred by these factors, the demand for enhanced vision system is forecast to increase globally. Transparency Market Research (TMR) also points out the dire need of enhancing aircraft security especially in environments with limited visibility as the chief driver of the global enhanced vision system market.
TMR has pegged the global enhanced vision system market to exhibit 4.4% CAGR between 2017 and 2025. At this pace, the global market is expected to reach US$312.4 mn by the end of 2025 as against US$211.1 mn in 2016. Following factors are expected to exert considerable influence on the market:
Demand for Improved Aircraft Security to Fuel Demand
At the forefront of the factors driving the global enhanced vision system market is the escalating demand for enhanced aircraft security. An enhanced vision system captures information from near-infrared cameras, besides various aircraft sensors to offer clear view also in environments with limited visibility.
Enhanced Vision Systems offer Meticulous View of Terrains
Enhanced vision systems are manufactured using the latest in technology, which enabled them provide meticulous images of terrain. It is in-built with features that offer insights about obstacles that pose threat to the aircraft. They put a series of images on the display thus helping pilots gain better insights about terrains even where there is limited visibility.
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Stringent Regulations Often Favor Growth
While technological advancements will continue playing key role in the expansion, the global enhanced vision system market will also benefit from the implementation of stringent regulations. For instance, developed countries have implemented regulations aimed at taking aerospace security a few notches higher. These policies often mandate compulsory inclusion of advanced vision systems in the interest of passenger as well as pilot safety. Implementation of such regulations is expected to bode well for the overall market.
Advent of Advanced Avionics Offers Improved Growth Potential
In the last couple of years, the global aerospace sector witnessed rapid improvements in existing technologies and advent of a few innovative ones. Impressive interiors, higher operational efficiency, noise reduction technologies, advanced avionics, and hi-tech vision systems are examples of the most recent improvements introduced to offer improved flight experience and passenger safety. Key aircraft manufacturers such as Airbus and Boeing choose investing in these technologies to enable pilots get hindrance-free view of terrains even across adverse weather conditions. This is one of the primary reasons fuelling the demand for aerospace vision systems in the aerospace sector. As per TMR, the demand from the defense sector is also expected to increase in the coming years thus giving impetus to the global enhanced vision system market.
Strategies Key Players Adopt to Steer Growth
United Technologies Corporation, Honeywell International Inc., Astronics Corporation, Rockwell Collins Inc., Safran, FLIR Systems Inc., HCL Embraer SA, Thales Group, and Elbit Systems Ltd. are among the key players operating in the global enhanced vision system market. Strategies they adopt are expected to influence growth witnessed in the global enhanced vision system market. For instance, product innovation and investment in research and development of advanced technologies are expected to bode well for the market in the near future.