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The enhanced vision system market size is projected to increase by USD 68.32 million at a CAGR (Compound Annual Growth Rate) of 4.52% between 2023 and 2028. The growth rate of the market depends on several factors, including the expanding applications of EVS in maritime navigation, mining and extraction, and healthcare, the increasing demand for improved aviation safety, and advancements in sensor technology and image processing.
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Expanding applications of EVS in maritime navigation, mining, extraction, and healthcare is the key factor driving market growth analysis. The application of EVS has extended beyond its traditional use in the aviation industry, and it is now being adopted in various sectors, such as maritime navigation, mining and extraction, and healthcare. In maritime navigation, enhanced vision system plays a crucial role in improving the safety and efficiency of ship operations. Besides, the mining and extraction industry has embraced EVS as a valuable tool for enhancing operational visibility and safety in challenging environments. In addition, in the healthcare sector, enhanced vision systems has paved the way for advanced clinical applications and surgical procedures.
Thus, the expanding applications of EVS in the above-mentioned sectors have contributed significantly to the growth of the global market. Consequently, companies specializing in EVS solutions have witnessed substantial market opportunities and have been developing innovative systems tailored to the specific needs of these industries. Hence, such applications of enhanced vision system will drive the growth of the global EVS market during the forecast period.
Integration of AI-powered image processing and object recognition is one of the market trends shaping market growth. The integration of AI-powered image processing and object recognition capabilities market trends and analysis is driven by the increasing demand for advanced technology in various sectors, such as aerospace, automotive, healthcare, and defense. AI-powered image processing allows for the analysis and interpretation of visual information in real time. It enables EVSs to capture, process, and interpret high-resolution images and videos, leading to improved object recognition capabilities.
Furthermore, ongoing advancements in AI technologies and the capabilities of EVSs are expected to expand further, offering enhanced situational awareness and contributing to various sectors' growth and development, which, in turn, will drive the growth of the global EVS during the forecast period.
Increased manufacturing cost of enhanced vision system is a challenge that affects market growth. The market is driven by the need for improved safety and enhanced driving experience. EVS systems use different components, such as cameras, sensors, and image processors, to provide real-time views and augmented visuals to drivers, enabling them to navigate with confidence even in challenging weather conditions or low-visibility environments. However, this integration of enhanced vision system technology with EVs is not without its challenges. One key hurdle is the increased manufacturing cost associated with EVs.
Moreover, the market faces the challenge of economies of scale. As EV adoption rates continue to rise, achieving economies of scale becomes pivotal to bringing down manufacturing costs. This includes increasing production volumes to spread the fixed costs across a larger number of units. Furthermore, manufacturers constantly need to invest in research and development to stay ahead of the curve, ensuring that EVS systems remain cutting-edge. Thus, such factors may impede market growth during the forecast period.
The market share growth by the display segment will be significant during the forecast period. The global EVS market is witnessing significant growth and has been segmented into various categories to facilitate comprehensive analysis. One of the key segments in this market is the display segment, which plays a vital role in providing real-time information and enhancing situational awareness for pilots and flight crews.
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The display segment showed a gradual increase in the market share of USD 97.02 million in 2018. The display segment encompasses a range of devices, including head-up displays (HUDs), head-mounted displays (HMDs), and primary flight displays (PFDs). Additionally, the market is driven by the growing demand for advanced avionics systems, regulatory mandates emphasizing flight safety, and the increasing adoption of EVS across commercial, military, and general aviation sectors. With ongoing technological advancements, the display segment is expected to continue its significant growth, which, in turn, will drive the growth of the market during the forecast period.
The global EVS market is witnessing significant growth, and the fixed-wing segment is playing a vital role in this growth. EVSs provide pilots with improved situational awareness, especially during adverse weather conditions or low-visibility scenarios. Within the market, the fixed-wing segment has been gaining traction due to several factors. Firstly, fixed-wing aircraft are widely used across various industries, such as commercial aviation, defense, and general aviation. As a result, there is a growing demand for EVSs in fixed-wing aircraft to enhance operational efficiency and safety. Secondly, fixed-wing aircraft are often deployed in challenging flying conditions, such as night flights, foggy weather, or mountainous terrain. Furthermore, the combination of increasing aircraft utilization, the need for enhanced safety, and continuous technological advancements will drive the demand for fixed-wing enhanced vision system, which, in turn, will drive market growth during the forecast period.
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North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America is home to major aircraft manufacturers and technological advancements, creating a favorable ecosystem for the growth of the regional enhanced vision system market. Technological innovations and the continuous development of EVS systems have been key drivers for market growth in North America.
Furthermore, government initiatives and regulations promoting enhanced flight safety have also played a pivotal role in driving the enhanced vision system market in North America. Regulatory bodies, such as the Federal Aviation Administration (FAA), have been actively encouraging the adoption of EVS technology by offering certification and incentives to aircraft operators. Thus, as the demand for enhanced situational awareness and improved flight safety continues to rise, the regional EVS market is expected to witness sustained growth during the forecast period.
This market forecast includes the adoption lifecycle of the market research and growth, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market growth and forecasting.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market report and information about 20 market companies, including:
Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The EVS market is undergoing a comprehensive study, assessing key players' financial positions, product portfolios, and growth strategies. Intense competition drives continuous innovation, prompting mergers & acquisitions and new product developments among industry giants like United Technologies Corporation, L-3 Communications Holdings, Inc., and Rockwell Collins, Inc. Research & Development (R&D) activities are pivotal, especially in the platform, technology, and component industries, where suppliers like Astronics Corporation play a crucial role. Companies such as Dassault Falcon Jets Corp and Gulfstream Aerospace Corporation remain at the forefront of enhanced vision system advancements, frequently launching new products to meet evolving market demands. Amidst competitive developments, core competencies and strategic positioning determine success in this dynamic market landscape.
The market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2028
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Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.52% |
Market Growth 2024-2028 |
USD 68.32 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.02 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, Canada, China, UK, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Astronics Corp., BAE Systems Plc, Elbit Systems Ltd., Honeywell International Inc., Industrial Vision Systems Ltd., Kawasaki Heavy Industries Ltd., Keyence India Pvt. Ltd., Konica Minolta Inc., Mercury Systems Inc., Raytheon Technologies Corp., Robert Bosch GmbH, Rosenbauer International AG, Rotorcraft Services Group, Samvardhana Motherson International Ltd., SOLOMON TECHNOLOGY CORP., Techman Robot Inc., Thales Group, Vision Components GmbH, Zebra Technologies Corp., and Skeyes |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market forecasting report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Platform
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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