Bizizz Market Research has recently published a research report, “Terrain Awareness and Warning Systems Market by System Type (Class A System, Class B System, Class C System), Engine Type (Turbine Engine, Piston Engine), Application (Commercial Aircraft, Civil Aircraft, Chartered Planes, Civilian/Private Rotorcraft, Military & Defense Aircraft, Fighter Planes, Carrier Planes, Military Rotorcraft, Others, Search & Rescue Operation Aircraft ), and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Terrain Awareness and Warning Systems Market was valued at US$ 199.45 Mn in 2018 and it is anticipated to reach at market value of US$ XX Mn by 2027, witnessing a 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. Moreover, 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 Terrain Awareness and Warning Systems market is anticipated to register a CAGR of over 6.1 % during the forecast period.
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By System Type, Class A system Segment Held a Prominent Share in Global Terrain Awareness and Warning Systems Market in 2018.
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. 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.
By Engine Type, Turbine Power Segment of Global Terrain Awareness and Warning Systems Market Is Anticipated To Witness the Fastest CAGR during the Forecast Period
The turbine power segment had major share due to advanced safety features, reliability, and durability compared with the piston-powered aircraft and it is projected to grow at highest CAGR during the forecast period. 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.
North Americais Anticipated to Dominate the Global Terrain Awareness and Warning Systems Market during the Forecast Period
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.
Global Terrain Awareness and Warning Systems market was highly fragmented among the number of local and global players. Prominent players operating in the Global Terrain Awareness and Warning Systems 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.
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 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 identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
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e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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