Commercial Aircraft Video Surveillance Systems Market Investment, Future Growth and Major Key Players 2020 to 2025
The commercial aircraft video surveillance systems market was valued at $594 million in 2016, and is projected to reach at $860 million by 2023, growing at a CAGR of 5.8% from 2017 to 2023.
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The line-fit segment dominated the global commercial aircraft video surveillance systems market with around 66% share in 2016, followed by the retro-fit segment. Furthermore, the line-fit segment is estimated to grow at the highest CAGR of 6.4% from 2017 to 2023, owing to upsurge in budgetary expenses for aerospace applications, introduction of advanced & innovative technologies, and enhanced emphasis on passenger safety.
The commercial aircraft video surveillance systems market is categorized based on geography into North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2016, accounting for around 44% share in the market. However, LAMEA is projected to grow at the highest CAGR of 7.5% during the forecast period.
Commercial Aircraft Video surveillance Systems Market Demand and Technology Growth 2023 | CABIN AVIONICS LIMITED, Meggitt PLC, AD Aerospace, Global ePoint, navAero
The report features the competitive scenario of the commercial aircraft video surveillance systems market and provides the comprehensive analyses of the significant growth strategies adopted by major players. The key players operating in the CAVSS market include CABIN AVIONICS LIMITED, Meggitt PLC., AD Aerospace plc., United Technologies Corporation, Global ePoint, Inc., Strongpilot Software Solutions, Aerial View Systems, Inc., navAero, Inc., Groupe Latecoere SA, and Orbit Technologies Ltd.
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The current business scenario has witnessed surge in the adoption of CAVSS in the developed and the developing regions, owing to the technological innovations in product offerings, rise in adoption of cost-effective solutions, implementation of profitable & low-cost business models, and increase in application areas among end users. In addition, supportive growth through regulatory compliance and increase in aviation expenditure are expected to supplement the commercial aircraft video surveillance systems market growth during the forecast period. Furthermore, need for enhanced security, rise in number of terrorist activities, upsurge in budgetary expenses for aerospace applications, introduction of advanced & innovative technologies, enhanced emphasis on passenger safety, and technological advancements for workflow optimization create lucrative opportunities for market growth. However, reduction in profit margins and security issues & cyber threat are expected to hamper this commercial aircraft video surveillance systems market growth.
The cockpit door surveillance system segment dominated in 2016, with around 73% revenue share of the global market. This is attributed to the improved aircraft infrastructure, increased aviation-related expenditures to cater to the untapped markets among the developing nations, need to implement integrated security solution, and rise in demand for real-time monitoring.
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Top Impacting Factors Such as –
1. Supportive growth through regulatory compliance
2. Need for enhanced security
Key Findings of the Commercial Aircraft Video Surveillance Systems Market:
1 The cockpit door surveillance system segment dominated the global commercial aircraft video surveillance systems market in 2016, and the environmental camera system segment is expected to grow at the highest CAGR from 2017 to 2023.
2 The line-fit segment is estimated to provide significant growth opportunities to the key players operating in the global commercial aircraft video surveillance systems market.
3 The market in Asia-Pacific is expected to be dominant in terms of commercial aircraft video surveillance systems market size. However, LAMEA
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