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 2023 to 2030, starting from US$ 254.21 Mn in 2021. Expansion of 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. Advanced technological development, rising government investments in the aerospace industry and growing safety concerns are other important factors driving the market growth.   As a result, we expect that enhanced vision market will grow significantly throughout the forecast period.

Enhanced Vision System Segment will be the Fastest Growing Segment

Synthetic vision system segment was dominant in 2021 with contribution of above 55% in the same year. Low cost of synthetic vision system is the major factor for the segment dominance. On the other flip, 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 enhanced vision system segment. Growing safety concerns in aircraft is the major factor for the growth of the segment. We expect that by 2030, enhanced vision system will surpass the synthetic vision system segment in revenue terms.

Asia Pacific will be the Fastest Growing Region

North America dominates the enhanced vision systems market in 2021. North America contributed for around 1/3rd of the total market revenue generated worldwide in the same year. Growing investments in aerospace industry and increased safety regulations are the prominent aspects for the dominance of the region. On the other hand, we presume that Asia Pacific will be the fastest growing region during the forecast period in the enhanced vision system market. China and India will be the major contributors in the Asia Pacific enhanced vision system market growth. Rising government investments in the aerospace industry and increases safety concerns are the major reason for the fastest growth of the Asia Pacific region.

Some of the prominent players operating in the enhanced vision systems market 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 study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Enhanced Vision Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Enhanced Vision Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Enhanced Vision Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Enhanced Vision Systems market?
• Which is the largest regional market for Enhanced Vision Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Enhanced Vision Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Enhanced Vision Systems market worldwide?