Impact of COVID-19 on Economy, Industry and Company The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
Kindly contact us to know more details: https://www.bizizzmarketresearch.com/contact
"Overview of Terrain Awareness and Warning Systems Market"
Global Terrain Awareness and Warning System (TAWS) Market was Valued at US$ XX Mn in 2019 and it is Expected to Reach More than US$ 361.3 Mn by 2028, Likely to Grow with the CAGR of 6.1% During the Forecast Period.
Growth of the transport sector accompanied by directives from aviation agencies' mandate for the deployment of TAWS are the major factors for the market growth. The surge in growth of international trade & business and growing implementation of TAWS systems in private and cargo aircraft are some other major factors expected to enhance the market growth over the forecast period. The rapid increase in the number of fleets globally is one of the promising factors expected to enhance the market growth in years to come.
The growing demand for TAWS systems from military and defense sector due to rising safety concerns coupled with increasing government expenditure on defense & military planes across the globe are further anticipated to enhance the global TAWS market during the forecast period. The growing demand for TAWS systems in Asia Pacific is another major factor contributing to the growth of the market.
Moreover, the numerous benefits of TAWS systems such as much earlier visual and aural warning, forward-looking capability, continued operation while landing and others are projected to support the market growth over the forecast period. However, the high cost of deployment and lack of skilled integrators & workforce are some of the market restraints presumed to hinder the market growth during the forecast period.
By System Type, Class A system expected to continue its dominance in the Global Terrain Awareness and Warning System (TAWS) Market
Class A system dominated the market in 2018 owing to a surge in demand for Class A systems in military & defense as well as commercial aircraft. The aforementioned system helped in reducing closed flight into terrain (CFIT) accidents in the commercial aircraft worldwide. Class A system provides advanced safety features to the aircraft owing to that the demand for class A systems is increasing. The rise in demand for class a systems from Asia Pacific is another major factor for the segment growth over the forecast period. Therefore, class a system segment is anticipated to dominate the global market during the forecast period.
By Engine Type, Turbine Power segment anticipated continuing its dominance in the Global Terrain Awareness and Warning System (TAWS) Market
The turbine power segment had major share due to advanced safety features, reliability, and durability compared with the piston-powered aircraft. The surge in demand for turbine engine-based airplanes in commercial, as well as defense & military operations, is another major factor for the segment growth during the forecast period. The increased demand for carrier planes, military rotorcraft and fighter planes in numerous countries such as India, China, Russia, The U.S., and others are further expected to enhance the market growth over the forecast period. Hence, the segment is presumed to continue its dominant position in the global TAWS market.
Asia Pacific TAWS market is anticipated to expand at Rapid Pace during the Forecast Period
Asia Pacific is projected to expand with the highest CAGR during the forecast period. Surge in defense & military budgets along with commercial aircraft and increased government investments for aerospace and defense are major factors for the fastest growth of Asia Pacific in years to come.
In 2018, North America had a major share in the global TAWS market owing to the high deployment of TAWS systems and increased government investments for the aerospace and defense sector. The presence of major market players such as L3 Technologies, Universal Avionics Systems Corporation, Avidyne Corporation, Honeywell International, Inc., and others is another major factor for regional dominance.
Key players in the market are Aspen Avionics, Inc., Universal Avionics Systems Corporation, Genesys Aerosystems, Honeywell International, Inc., Mid-continent Instrument Co., Inc., L3 Technologies, Sandel Avionics, Inc., Avidyne Corporation, Rockwell Collins, Aviation Communication & Surveillance Systems (ACSS), LLC, and Garmin Ltd. are some key players operating at regional as well as country level. Acquisitions, collaborations, partnerships, and mergers are some of the key strategies expected to follow by the aforementioned major players throughout the forecast period.
Terrain Awareness and Warning Systems Market
TAWS Market By System Type
- Class A System
- Class B System
- Class C System
TAWS Market By Engine Type
- Turbine Engine
- Piston Engine
TAWS Market By Application
- Commercial Aircraft
- Civil Aircraft
- Chartered Planes
- Civilian/Private Rotorcraft
- Military & Defense Aircraft
- Fighter Planes
- Carrier Planes
- Military Rotorcraft
- Search & Rescue Operation Aircraft
TAWS Market By Region
- North America
- Latin America
- Asia Pacific
- Middle East and Africa