The enhanced vision systems (EVS) are highly used to enhance aircraft safety, especially in limited visibility environments. EVS measures information from various aircraft-based sensors, including near-infrared cameras, to give a clear view of the terrain. It gives a detailed view of the terrain and receives insights about obstacles that may pose a danger to the aircraft. It puts a range of images in the display screen which enables the pilot to receive insights into the terrain, especially when visibility is poor.
The global enhanced vision system market is growing rapidly over the forecast period and is expected to grow at the same rate over the coming years. The growth is attributed to factors such as the dire need to enhance aircraft safety; regulations and policies implemented by the aviation sector; and an increase in the growth of display screen and camera.
The growth of the aerospace sector coupled with necessitate aerospace companies to deploy enhanced vision systems in both fixed and rotary wings aircraft have been the key factors expected to boost the growth of the market. Furthermore, the growing concerns in developed countries have raised the regulations and policies by the government to necessitate aircraft to be equipped with advanced vision systems for pilot and passenger safety.
The global Enhanced vision system market is segmented into aerospace and defense and others. The aerospace and defense sector dominated the market, in 2016. The dominance can be attributed to the increasing measures to enhance aircraft safety.
High Demand from Emerging Economies
North America and Europe collectively accounted for more than 50% of the global share, in terms of revenue. Most of the growth in North America comes from the U.S. and Canada. Safety regulations in North America is one of the key trends likely to fuel the market towards a growth.
On the other hand, Asia-Pacific and Latin America are the key regional segments contributing to the growth of the global enhanced vision system market. Asia-Pacific is expected to grow rapidly owing to the existence of large OEMs; growing demand for private and regional jets; and increasing demand from emerging economies such as China, Japan, India, and South Korea.
Product Innovation to Boost the Market Growth
To gain a competitive advantage, the key players are striving to expand their market base through several strategies. Moreover, government regulations coupled with global industry standards is likely to have a positive impact on the market growth. Moreover, increasing investments in the research and development sector to introduce newer products and strategic acquisitions to expand the customer base will boost the market and have a favorable effect on the growth of players in the market.
The key players operating in the 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.
The future of the global enhanced vision market looks promising with the increasing efforts for the market demand. Focus of key players on product portfolio to introduce new products as well working on to product diversification will drive the market towards a positive future.