L3 Technologies Inc. (US), Thales SA (France), United Technologies Corporation (US) and others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global aircraft synthetic vision system market.
Aircraft Synthetic Vision System Market – Overview
According to a recent study report published by the Market Research Future, the global market of aircraft synthetic vision system will grow at a steady pace over the forecast period. The market is forecasted to witness slow but steady growth by 2023, which will be a surplus growth at a moderate CAGR during the projected period (2018 -2023).
The global aircraft synthetic vision system market is highly competitive. There exists strong rivalry and competition among the existing vendors; in terms of cost, product quality, reliability, and market share. To survive and succeed in such an intensely competitive environment, it is crucial for the vendors to provide cost-effective and high-quality aircraft synthetic vision systems. The key vendors in the global aircraft synthetic vision system market are Cobham, Garmin, Honeywell, Elbit, and UTC.
Along with the growth in acceptance and utilization of synthetic vision system for aviation applications, the regulatory scenario has also been improved. In 2013, FAA had proposed a new rule that would allow suitable equipped and trained operators to continue approaches below current conventional minimum. It would motivate the aviation industry and make the installation of synthetic vision system far more worthwhile and less burdensome.
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Such regulations accepting the utilization of synthetic vision system would also allow more operators to enjoy the chief advantage of purchasing a new aircraft with synthetic vision system. It also encourages aircraft operators to negotiate for inclusion of synthetic vision system in an airliner fleet, as it allows commercial aircraft operators flying synthetic vision system-equipped aircraft to dispatch and depart and then fly approaches even if the visibility of the destination is below authorized minimums. Such benefits might also stimulate the retrofit market and give new incentives to manufacturers to offer competitive products and accelerate the adoption of new technologies into a wider segment of aircraft fleet.
The US is one of the single largest markets for synthetic vision system in the Americas region. It is also the pioneer in terms of synthetic vision system RD and new product development. Organizations such as NASA (that has been involved in various synthetic vision system research) and some of the major synthetic vision system vendors are in the US. The US has further adopted and encouraged the utilization of technologies such as synthetic vision system into the modern aircraft system, which helps to reduce the number of accidents (for example, CFIT). North America (including the US) is already a huge aviation market in terms of the number of operational aircraft and aircraft sales. It has many business jets (also other GA aircrafts), helicopters, commercial aircrafts and UAVs in operation.
Industry/ Innovation/ Related News:
March 2018: Genesys Aerosystems and XP Services announced the development of a new integrated cockpit avionics package that would include synthetic vision system, for the UH-60 Black Hawk helicopters.
December 2017: Boeing and the National Aeronautics and Space Administration (NASA) announced that they would test the next-gen aircraft synthetic vision system for the simulation of the Boeing 787 Dreamliner.
Aircraft Synthetic Vision System Market – Segmentation
The global aircraft synthetic vision system market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Display System: Primary Flight Display, Navigation Display, Head-Up Helmet Mounted Display, and Other Display Systems
Segmentation by Aircraft Type: Fixed-Wing Aircraft and Rotary-Wing Aircraft
Segmentation by Application: Civil Aviation and Military Aviation
Segmentation by Region: North America, Europe, Asia-Pacific and Rest of the World
Aircraft Synthetic Vision System Market: Regional Analysis
The aircraft synthetic vision system market has been segmented into North America, Europe, Asia Pacific and Rest of the World. North America is expected to be the largest market for aircraft synthetic vision system. The aircraft synthetic vision system market across the globe is expected to rise at a considerable pace during the forecast period due to rise in demand for new aircraft and focus on ensuring aviation safety in all the above-mentioned regions.
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