The changing dynamics in Enhanced Vision System Market with covid-19 impact assessment.
June 02, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Enhanced Vision System Market.
It was estimated prior to this unanticipated outbreak that the Enhanced Vision System Market was likely to witness an impressive CAGR of 5.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. The prime growth drivers which are expected to underpin the global enhanced vision system market during the forecast period are growing situational awareness, increasing aircraft safety, and reliable operations at low visibility.
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Enhanced Vision System Market Segment Insights:
By Technology Type:
The millimeter wave radar segment is estimated to depict the highest growth during the forecast period. Pilots need to rely on active sensors, such as millimeter wave (MMW) radars for dependable vision and safe navigation. Owing to its lowest weather dependency, the imaging MMW radar is the most promising one, among others, which drives the growth of the segment.
By Component Type:
The display segment is expected to account for the largest share of the market in the coming five years. A display unit is a crucial component of the enhanced vision system and serves as a screen to graphically represent data collected from various sensors onboard an aircraft. This is one of the major factors fuelling the growth of this segment.
By Region:
North America is estimated to command the enhanced vision system market during the forecast period. The North American market is driven by the presence of a large number of original equipment manufacturers (OEMs) and original component manufacturers (OCMs), along with major technological upgrades of prevalent equipment by major players in the region. On the other hand, the Asia-Pacific’s market is expected to witness the highest growth during the forecast period, which can be attributed to the presence of giant OEMs, such as HALBIT Avionics Private Limited (India) and Samtel Group (India), demand for high safety and reliable airline operations, and instable weather conditions in the region. China and India are the growth engines of the region.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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