The global market for enhanced vision systems can reach a valuation of approximately USD 262 Million by 2023, says Market Research Future (MRFR). The market also seems to show signs of obtaining a growth rate of 4% between 2017 and 2023, which is the forecast period.
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The enhanced vision systems market has been segmented on the basis of technology, component, and platform.
The technology-based segments specified in the report are infrared, synthetic vision, millimeter wave radar and global positioning system. Between these, the millimeter wave radar segment takes the lead in the enhanced vision systems market and can obtain the highest growth during the estimated period. Millimeter wave (MMW) radars are a type of active sensors that help achieve an accurate vision that results in safe navigation.
The components segment comprises of sensors, processing unit, control electronics, camera and display. Enhanced vision systems make extensive use of sensors such as radar or infrared that help attain an enhanced view of the outside world.
Platform-wise, the market has been split into fixed wing and rotary wing.
The regional distribution of the worldwide Enhanced Vision Systems (EVS) Market consists of Asia Pacific (APAC), Europe, North America, in addition to the Rest of the World (RoW).
After a thorough analysis of all the latest trends and the growth potential, MRFR reports that the market for enhanced vision systems in North America is expected to be the largest during the review period. The market is greatly influenced by the presence of a vast pool of original component manufacturers (OCMs) as well as original equipment manufacturers (OEMs) in the region. Some significant technological advancements in the existing equipment by prominent vendors, and the high concentration of esteemed players like United Technologies Corporation (U.S.), L-3 Communications Holdings, Inc. (U.S.) and Honeywell International, Inc. (U.S.) can also help the market grow significantly in the coming years.
The APAC market can achieve the best growth rate during the conjectured timeframe, mainly due to the presence of established OEMs like Samtel Group (India) and HALBIT Avionics Private Limited (India). The strong demand for better safety and dependable airline operations along with unstable weather conditions also benefits the regional market to a great extent.
In Europe, the expanding aerospace sector combined with the strict regulations necessitating aerospace companies to make use of enhanced vision systems in fixed as well as rotary wings aircraft has boosted the market demand in recent years.
Some of the top players shaping the worldwide market for enhanced vision systems include Elbit Systems Ltd. (Israel), Rockwell Collins, Inc. (U.S.), United Technologies Corporation (U.S.), Honeywell International, Inc. (U.S.), MBDA (U.K.), Opgal (Israel), Esterline Technologies Corporation (U.S.), Thales Group (France), L-3 Communications Holdings, Inc. (U.S.), Astronics Corporation (U.S.), to name a few
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