Airborne Collision Avoidance System Market to Reach $1.0 Billion, Globally, by 2033 at 3.5% CAGR: Allied Market Research
Wilmington,Delaware, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Airborne Collision Avoidance System Market by Platform (Fixed Wing, Rotary Wing, and Unmanned Aerial Vehicle (UAV)), Component (Processor, Mode S & C Transponder, and Display Unit), Type (ACAS I & TCAS I, ACAS II & TCAS II, Portable Collision Avoidance System (PCAS), and FLARM), and Sales channel (Original Equipment Manufacturer (OEM) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2024-2033”. The global airborne collision avoidance system market was valued at $0.73 billion in 2023 and is estimated to reach $ 1.01 billion by 2033, exhibiting a CAGR of 3.5% from 2024 to 2033.
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Prime determinants of growth
The global airborne collision avoidance system market has experienced growth due to increasing air traffic, regulatory mandates, and expansion of UAV usage. However, complex integration and limited awareness in general aviation hinder market growth. Moreover, expanding aviation sectors in emerging regions and development & integration of next-generation technologies offer lucrative opportunities for the expansion of the global airborne collision avoidance system market.
Segment Highlights
By platform, the fixed wing segment had the highest market share in 2023 due to several compelling factors. The continuous rise in global air travel necessitates more aircraft equipped with advanced safety systems like ACAS. Fixed-wing aircraft, including commercial airliners and business jets, dominate the aviation sector and face stringent regulatory requirements for collision avoidance technologies. Additionally, the modernization of air traffic management systems and the expansion of airline fleets, particularly in emerging markets, further boost demand. Innovations in avionics and the need for retrofitting older aircraft also contribute to the growing sales of fixed-wing aircraft equipped with ACAS.
By component, the processor segment dominated the market in 2023 due to its central role in managing and analyzing flight data. As aviation technology advances, there is a burgeoning demand for more powerful and efficient processors capable of handling complex algorithms and real-time data processing. The push towards integrating more sophisticated AI and machine learning capabilities into collision avoidance systems further underscores the need for advanced processors. Additionally, the global increase in both manned and unmanned aircraft production necessitates the adoption of robust processors, ensuring that this segment remains vital and continues to expand.
By type, the ACAS II & TCAS II segment held the highest market share in 2023, primarily driven by regulatory mandates that require these systems in commercial and large aircraft to enhance air safety. As air traffic continues to climb, especially in burgeoning markets, there is an increase in need for robust collision avoidance solutions. The expansion of the global commercial fleet, coupled with the push for modernizing aging aircraft, will significantly boost demand. Furthermore, as the skies become increasingly congested, the reliance on ACAS II and TCAS II systems for real-time threat detection and resolution advisories becomes more critical, underscoring their essential role in future aviation safety.
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By sales channel, the original equipment manufacturer (OEM) segment held the highest market share in 2023, fueled by the continuous growth of the global aircraft manufacturing industry. As new aircraft roll off production lines, they are increasingly equipped with the latest collision avoidance systems to meet regulatory safety standards and enhance market competitiveness. The surge in demand for new aircraft, especially in emerging markets, further amplifies the need for these advanced systems. In addition, technological advancements in aviation safety, pushing for more sophisticated systems, ensure that OEMs remain at the forefront of integrating these critical safety features into their designs.
Regional Outlook
By region, the Asia-Pacific region is poised for rapid growth in the airborne collision avoidance system market by 2033 due to its robust economic expansion and increasing population. As more people in this region rise into the middle class, the demand for air travel surges, prompting a significant uptick in aircraft operations and infrastructure development. This growth is complemented by governmental investments in airport modernization and air traffic management technologies to accommodate the higher traffic volumes safely. In addition, the region's strategic initiatives to become a global aviation hub stimulate local industries, attract foreign investment, and further drive regional growth. Together, these factors position Asia Pacific at the forefront of aviation expansion.
Players:
- BAE Systems Plc
- FLARM Technology Ltd
- Garmin Ltd
- Honeywell International Inc
- L 3 Technologies, Inc
- Lockheed Martin Corporation
- QinetiQ Group Plc
- Rockwell Collins Inc.
- SAAB Group
- Thales Group
The competitive landscape of the airborne collision avoidance system market is characterized by intense competition among established players and emerging entrants. Companies compete on the basis of technological innovation, system reliability, integration capabilities, and cost-effectiveness. The market is driven by continuous advancements in technology, with key players focusing on developing more sophisticated and integrated systems to enhance airspace safety. Strategic partnerships, mergers, and acquisitions are also common as companies seek to expand their market presence and meet the diverse needs of global aviation customers.
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Recent Development:
- On February 22, 2022, BAE Systems announced the launch of its new Digital Intelligence business. This initiative integrates nearly 5, 000 professionals across 16 countries to address the increasing need for complex data management, processing, and acquisition among its clientele. Digital Intelligence aims to enhance a broad suite of digital capabilities, complementing its established prowess in cyber, intelligence, and security.
- On September 20, 2022, Honeywell unveiled its inaugural Global Solutions Command and Control Center (GSCCC) in Gurugram. This state-of-the-art facility provides round-the-clock proactive remote monitoring and technical assistance to Honeywell's oil and gas sector clients worldwide. As the first of its kind within Honeywell and the industry, the GSCCC caters to over 200 refinery units for 50+ customers, leveraging core Honeywell technologies. It boasts the capability to accommodate an additional 1, 000+ units by 2028, solidifying its position as a pioneering hub for comprehensive support and oversight in the oil and gas sector.
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