Aircraft Synthetic Vision System Market Overview
Synthetic Vision System Market Size is expected to reach USD 250.4 Million by 2030, registering a CAGR of 4.31% during 2020-2030
Aircraft Synthetic Vision System is a modern aviation technology that uses a computer-generated 3D environment for the pilot to give information about runways, terrains, obstacles, airports and flight plans. It enhances the pilot's situational awareness, especially during low visibility flying conditions, through moving maps, artificial vision, and route planning. This system reduces the chances of accidents caused by controlled flight into terrain or CFIT, runway obstructions and loss of control.
The aircraft synthetic vision system market in Europe is experiencing significant expansion, fueled by stringent safety regulations, technological advancements, and the growing emphasis on enhancing aviation safety and efficiency. European aviation authorities such as the European Aviation Safety Agency (EASA) have been actively promoting the adoption of synthetic vision systems to improve flight situational awareness and reduce the risk of controlled flight into terrain (CFIT) accidents. Aircraft manufacturers and avionics suppliers across Europe are developing innovative SVS solutions that cater to the diverse needs of commercial airlines, business aviation, and general aviation operators. Moreover, collaborative efforts between industry players, research institutions, and regulatory bodies are driving the development and certification of next-generation SVS technologies, positioning Europe as a key market for aircraft synthetic vision systems.
The value of the global Aircraft Synthetic Vision System Market Share is projected to grow at a CAGR of more than 2.8% in the forecast period 2021-2026.
The growth of the aircraft synthetic vision system market is driven by the increasing demand for fleet modernizations and new aircraft by commercial, military and general aviation sectors. Increasing air traffic is fuelling the demand for more efficient safety mechanisms for commercial and other aircraft, acting as a growth driver for this market. Strict government regulations for flight safety and the growing aviation sector in developing countries also boost this market.
The disruption caused to the supply chain of aviation electronics and slowdown in the aviation sector by the Covid-19 pandemic negatively affected the growth of the aircraft synthetic vision system market. The high cost of R&D in the aviation electronics industry is another growth dampener for this market.
Competitive Landscape
Following is the Major Synthetic Vision System Market Players:
· Rockwell Collins
· Honeywell International
· SAAB Sensis
· Garmin Ltd
· ForeFlight
· Hilton Software
· Aspen Avionics
· Rockwell Collins
· Multi Electric Manufacturing Inc
· Astronics Corporation
· Universal Avionics System
· L-3 Avionics Systems
Market Segmentation
On the basis of display system, the aircraft synthetic vision system market is divided into primary flight display, navigation display, heads-up display, helmet-mounted display, and other display systems.
Based on the aircraft type, the synthetic vision system market is divided into fixed-wing aircraft and rotatory wing aircraft.
On the basis of application, the aircraft synthetic vision system market is divided into commercial, military and general aviation. The military segment is projected to register the highest growth rate in the forecast period. Increasing hostilities between various countries lead to more and more purchases of advanced defence equipment, including modern military aircrafts such as fighter jets. Since modern military aircraft are equipped with synthetic vision systems, the rising demand for new-generation military aircraft is creating more requirements for aircraft synthetic vision systems.
Regional Segmentation
On the basis of regions, the global Aircraft Synthetic Vision System Market is divided into North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.
North America is the largest market and is projected to dominate the market in the forecast period. The main reason is the presence of a strong aviation industry in the region, fuelling the demand for modern aircraft and large-scale investments in aviation technology by global giants in this region. Furthermore, rising air traffic in the region is bolstering the demand for advanced air safety mechanisms.
Industry News
● In September 2020, Embraer received approval for its Synthetic Vision Guidance System installed in Praetor 500 and 600 business jets from the US Federal Aviation Administration and similar authority of Brazil.
● Collins Aerospace launched its Combined Vision System for Bombardier Global 5500 and 6500 business jets in July 2018.
Aircraft Synthetic Vision System Market Report: Information by Display System (Primary Flight Display, Navigation Display, Head-Up Helmet Mounted Display Others), by Aircraft Type (Fixed-Wing Rotary-Wing), by Application & by Region - Forecast to 2030
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