Transparency Market Research (TMR) predicts that the global enhanced vision system market has a highly competitive vendor landscape. Companies including Honeywell International Inc., Rockwell Collins Inc., United Technologies Corporation, Astronics Corporation, Thales Group, and FLIR Systems Inc. are some of the enhanced vision system producers.
For establishing a strong presence in the market, the key players are increasingly looking to expand their product portfolio by introducing new products for meeting the required specifications demanded by the government agencies. Additionally, the key companies in the global enhanced vision system market are investing more in the research and development for introduction of advanced and novel products. Thus, the key players are also banking on the strategic acquisitions and partnerships.
According to TMR, the global enhanced vision system market is expected to expand at a CAGR of 4.4% over the forecast period to reach a value of US$312.4 mn by 2025-end. The market had acquired a value of US$211.1 mn in 2016.
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Based on vision, the synthetic vision segment dominated the enhanced vision systems market on the back of low cost and easy applications across numerous sectors. Based on component, in the year 2016, the display screen and camera dominated the global enhanced vision system market. Based on region, North America and Europe are key regions that are collectively contributing more than 50% in the overall revenue of the global enhanced vision system market.
The enhanced vision systems market is driven by the growing adoption and advancement in the enhanced vision system (EVS), which is the required for upgrading airplane. As enhanced vision systems collects data from other planes based on sensors and infrared cameras, which offers unique perspective on the surrounding and particularly in restricted vision conditions.