Global Enhanced Vision System Market: Snapshot
The global enhanced vision system market is on a growth trajectory on
account of radical improvements in the aerospace sector for aircraft
safety. Top notch aircraft manufacturers are opting for hi-tech
avionics and navigation systems to raise alarm in the event of a
possible danger. Enhanced vision systems help to provide a detailed
view of the terrain along with monitoring of various obstacles that
may pose a challenge to the safety of aircraft.
Some of the key factors driving the global enhanced vision system
market are the dire need to enhance aircraft safety, especially in
limited visibility environments. This is because enhanced vision
system collects information from various aircraft based sensors,
which includes near-infrared cameras to give complete view of the
terrain, especially in extreme weather conditions.
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Apart from this, in developed countries, regulation and policies in
place necessitate aircraft to be equipped with advanced vision
systems in the interest of pilot and passenger safety.
A report by Transparency Market Research forecasts the global
enhanced vision system to expand at a CAGR of 4.4% between 2017 and
2025. At this rate, the global enhanced vision system market is
expected to peg an opportunity of US$312.4 mn by 2025 increasing from
US$211.1 mn in 2016.
Easy Application of Synthetic Vision System Pushes Adoption
The global enhanced vision system market can be divided upon system
into synthetic vision system and enhanced vision system. Of the two,
the segment of synthetic vision leads the market on the back of its
low cost and its easy application in aircraft. However, advanced
vision system is expected to surpass in terms of revenue over the
forecast period.
In terms of component, the market has been segmented into sensors,
cameras, display screen, and others. In 2016, display screen and
camera led the growth of this market revenue-wise. These segments are
expected to display strong growth amongst other segments due to
technological advancements that have led to the installation of
advanced screens and camera for an enlarged view of the terrain.
Sensors also form an important segment of the market.
The application segments into which the global enhanced vision system
market is divided are aerospace and defense and others. For 2016,
aerospace and defense led the market followed by others. The
dominance of aerospace and defense application segment is attributed
to the increasing measures to enhance aircraft safety. Enhanced
vision system captures radiation emitted from different sensors to
help in landing or during extreme weather conditions thereby boosting
the growth of this application segment.
Safety Regulations Propel Growth of North America Market
The key regional segments into which the enhanced vision system
market is divided are North America, Asia Pacific, Europe, the Middle
East and Africa, and Latin America. North America and Europe, amongst
all, are key regional segments that collectively contribute more than
50% revenue to the global market. The growth of the aerospace sector
along with regulations that necessitate aerospace companies to deploy
enhanced vision systems in both fixed and rotary wings aircraft have
been key factors boosting growth in these regions.
Asia Pacific and Latin America are other key regional segments
contributing to the growth of global enhanced vision system market.
Asia Pacific stood as one of the rapidly growing regional markets in
2016 with China, Japan, India, and South Korea contributing majorly
to this regional market.
Leading players operating in the global enhanced vision system market
include Honeywell International Inc., United Technologies
Corporation, Rockwell Collins Inc., Astronics Corporation, FLIR
Systems Inc., Thales Group, Safran, HCL Embraer SA, and Elbit Systems
Ltd. among others.
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