Airborne Laser Obstacle Avoidance Monitoring System Market: Overview, Trends and Opportunities, Geographic Analysis and forecast to 2028

The global airborne laser obstacle avoidance monitoring system market is anticipated to grow at a considerable CAGR during the forecast period (2022-2028). The growing incidence of air tragedies is enabling the need for installing the safety and obstacle monitoring system, which in turn is driving the growth of the global airborne laser obstacle avoidance monitoring system market. According to the data published by the International Air Transportation Association (IATA), in 2021, the rate of one accident registered for every 0.9 million flights. In 2021, 25.0 million airline passengers were operated out of which 26 met with accidents. Out of these 7 were fatal accidents, which accounted for 121 fatalities. Similarly , in 2020,22.2 million airlines were operated, out of which 35 airlines met with accidents .out of these 5 were fatal accidents, which accounted for 132 fatalities. Thus, owing to numerous tragedies, the need for an airborne laser obstacle monitoring system is anticipated to fuel the demand of the market during the forecast period.

A full report Airborne Laser Obstacle Avoidance Monitoring System Market of is available at: https://orionmarketreports.com/airborne-laser-obstacle-avoidance-monitoring-system-market/106234/

Further, owing to the rise in the air traffic and growing demand for air travel, the regulatory bodies such as IATA, Federal Aviation Administration (FAA), and others had referred to the installation of airborne laser obstacle avoidance monitoring systems to avoid tragedies as well as to ensure the safety of the passengers and crew members. According to International Civil Aviation Organization (ICAO), the total number of passengers carried on scheduled services rose to 4.5 billion in 2019, which is 3.6% higher than in 2018, while the number of departures reached 38.3 million in 2019. The low-cost carriers carried an estimate of 1.4 billion passengers in 2019, which was approximately 31.0% of the global total scheduled passengers. Further, according to the data published by the Bureau of Transportation Statistics in 2022, US airlines carried 674 million passengers in 2021, which is 82.5% more than in 2021.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Lockheed Martin Corp., Rockwell Collins, Leonardo S.p.A, and Thales Group among others
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Airborne Laser Obstacle Avoidance Monitoring System Market Report by Segment
By Type
• Hardware
• Software
By Application
• Aerospace
• Defense

Geographic Coverage

• North America Market Size and/or Volume
• Latin America Market Size and/or Volume
• Europe Market Size and/or Volume
• Asia-Pacific Market Size and/or Volume
• Rest of the world Market Size and/or Volume

Recent Developments

• Market Overview and growth analysis
• Import and Export Overview
• Volume Analysis
• Current Market Trends and Future Outlook
• Market Opportunistic and Attractive Investment Segment

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This release was published on openPR.