PUNE, India, December 15, 2016 /PRNewswire/ --
The report "Enhanced Vision System Market by Technology (Infrared, Synthetic Vision Systems, GPS, Millimeter Wave Radar), Component (Sensors, Processing Units, Control Electronics, Camera, Display), Platform (Fixed, Rotary) and Region - Global Forecast to 2021", published by MarketsandMarkets, The EVS market is projected to grow from USD 202.7 Million in 2016 to USD 250.4 Million by 2021, at a CAGR of 4.32% during the forecast period.
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Aircraft safety, situational awareness, and reliable operations at low visibility are factors driving the growth of the enhanced vision systems market. The concept of enhanced vision systems has led to the emergence of innovative technologies that are cost-effective and environment-friendly. For instance, high speed mid-wave infrared (MWIR) and long-wave infrared (LWIR) imaging sensors that are used to capture the thermal radiation of any object within the field of view (FOV) of the camera at several hundred frames per second. Better situational awareness helps in safe operations and provides navigational aid to the pilots, thereby reducing the number of mishaps and accidents. Enhanced vision systems also allow pilots to operate at remote locations with inadequate airport facilities.
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"Millimeter wave radar segment projected to grow at the highest CAGR during the forecast period"
Based on technology, the millimeter wave radar segment of the enhanced vision systems market is projected to grow at the highest CAGR during the forecast period. Pilots have to depend on active sensors, such as millimeter wave (MMW) radars, for reliable vision and safe navigation. Among all imaging sensors, the most promising one for enhanced vision systems is the imaging MMW radar as it has the lowest weather dependency. This factor is anticipated to drive the millimeter wave radar segment's market.
"Display segment estimated to account for the largest market share during the forecast period"
Based on component, the display segment is projected to account for the largest share of the enhanced vision systems market during the forecast period. A display unit serves as a screen for graphical representation of data collected from various sensors onboard an aircraft, and is a crucial component of the enhanced vision systems. Increase in demand for better and high definition displays is one of the key factors propelling growth of the display segment.
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"North America estimated to account for the largest share of the market, whereas Asia-Pacific projected to grow at the fastest rate during the forecast period"
North America is expected to lead the enhanced vision systems market during the forecast period. Countries in this region include the U.S. and Canada. The enhanced vision systems market in North America is driven by the large number of original component manufacturers (OCMs) and original equipment manufacturers (OEMs), major technological upgradation of existing equipment by key players, and the presence of key market players, such as Honeywell International, Inc. (U.S.), United Technologies Corporation (U.S.), and L-3 Communications Holdings, Inc. (U.S.). Whereas, the Asia-Pacific enhanced vision systems market is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the presence of large OEMs and growing demand for private and regional jets in the region.
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