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Enhanced Vision Systems Market By System (Enhanced Vision System, Synthetic Vision System), By Component (Sensors, Camera, Display Screen) - Growth, Future Prospects And Competitive Analysis, 2019 - 2027

Growing Aerospace Industry to boom the demand for Enhanced Vision Systems Market

The enhanced vision systems market worldwide is expected to grow with a CAGR of 4.1% throughout the forecast period from 2019 to 2027, starting from US$ 225.7 Mn in 2018. Expansion of the aerospace industry worldwide is the major factor driving the enhanced vision systems market growth. The aerospace industry is projected to grow with a CAGR of around 4% in years to come. In addition, advanced technological development, rising government investments in the aerospace industry, and increasing safety concerns are other important factors driving the market growth. As a result, we expect the enhanced vision market to grow significantly throughout the forecast period.

Market Synopsis

Enhanced Vision System Segment will be the Fastest Growing Segment

The synthetic vision system segment was dominant in 2018, with a contribution of above 55% in the same year. The low cost of the artificial vision system is the primary factor for segment dominance. On the other flip, the enhanced vision system segment will be the fastest growing segment during the forecast period. More visibility in low light is the major reason for the growth of the enhanced vision system segment. In addition, growing safety concerns in aircraft is the major factor for the growth of the segment. As a result, we expect that by 2027, the enhanced vision system will surpass the synthetic vision system segment in revenue terms.

The Asia Pacific will be the Fastest Growing Region

North America dominated the enhanced vision systems market in 2018. North America contributed around 1/3rd of the total market revenue generated worldwide in the same year. Growing investments in the aerospace industry and increased safety regulations are prominent aspects of the region's dominance. On the other hand, the Asia Pacific will be the fastest growing region during the forecast period in the enhanced vision system market. China and India will be major contributors to the Asia Pacific enhanced vision system market growth. Rising government investments in the aerospace industry and increased safety concerns are the primary reason for the fastest growth of the Asia Pacific region.

Some prominent players operating in the enhanced vision systems market are Honeywell International Inc., United Technologies Corporation, Rockwell Collins Inc., Astronics Corporation, FLIR Systems Inc., Thales Group, Safran, HCL Embraer SA, L-3 Communications Holdings, Inc., and Elbit Systems Ltd. among others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The enhanced vision systems market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global enhanced vision systems market based on system, component, and geography.

Frequently Asked Questions:

The market for Enhanced Vision Systems is expected to reach US$ 225.7 Mn in 2028.

The Enhanced Vision Systems market is expected to see significant CAGR growth over the coming years, at 4.1%.

The report is forecasted from 2019-2027.

The base year of this report is 2021.

Honeywell International Inc., United Technologies Corporation, Rockwell Collins Inc., Astronics Corporation, FLIR Systems Inc., Thales Group, Safran, HCL Embraer SA, L-3 Communications Holdings, Inc. are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Dec 2019
Category:  IT & Telecom
Report ID:   60099
Report Format:   PDF
Pages:   120
Rating:    4.2 (49)
Delivery Time: 24 Hours to 48 Hours   
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