Press release
Instrument Landing System And Visual Landing Aids Market Overview, Competitive Analysis, Key Trends And Outlook 2024 To 2033
Instrument Landing System And Visual Landing Aids Market Analysis
The Business Research Company offers in-depth market insights through Instrument Landing System And Visual Landing Aids Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The instrument landing system and visual landing aids market size has grown strongly in recent years. It will grow from $2.17 billion in 2023 to $2.31 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to air traffic growth, safety regulations, demand for increased airport capacities, improved aviation safety standards, weather-dependent operations.
The instrument landing system and visual landing aids market size is expected to see strong growth in the next few years. It will grow to $2.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to increasing air travel, emerging markets expansion, airspace modernization programs, remote and unmanned operations, increased focus on precision approaches. Major trends in the forecast period include cat ii/iii autoland systems, led and enhanced lighting systems, satellite-based landing systems, ai-enabled decision support, integrated approach systems.
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Market Segmentation:
The instrument landing system and visual landing aids market covered in this report is segmented -
1) By Type: Instrument Landing System CAT I, Instrument Landing System CAT II, Instrument Landing System CAT III
2) By Visual Landing Aid: Runway Lighting, Taxiway Lighting, Approach Lighting
3) By Technology: Light-Emitting Diode (LEDs), Incandescent Lamps
4) By Operation: International Airport, Medium Airport, Small Airport
Major Driver - Rise In Air Traffic To Drive Market Growth
The increasing air traffic is expected to propel the growth of the instrument landing system, and virtual landing aids market going forward. Air traffic refers to the number of aircraft flying in an area or along a route. The instrument landing system (ILS) and virtual landing aids (VLA) are crucial components in aircraft that aid pilots throughout the landing process, particularly in low-visibility circumstances. For instance, in March 2023, according to a report published by the Bureau of Transportation Statistics, a US-based government agency, in 2022, US airlines transported 194 million more passengers than in 2021, a 30% increase year on year. Further, from January to December 2022, US airlines handled 853 million passengers (unadjusted), up from 658 million in 2021 and 388 million in 2020. Therefore, increasing air traffic drives the growth of the instrument landing system and virtual landing aids market.
Competitive Landscape:
Major companies operating in the instrument landing system and visual landing aids market report are Astronics Corporation, Honeywell International Inc., Lufthansa Systems, NEC Corporation, Eaton, Thales Group, Collins Aerospace, Hella KGaA Hueck & Co., Groupe ADP, Vaisala Oyj, Universal Avionics Systems Corporation, SAAB Sensis, Aeronautical & General Instruments Limited, Indra Navia AS, Carmanah Technologies Corp., OCEM Airfield Technology., Aeronav Group, Navtech Radar, ATG Airports Ltd., Airport Lighting Company, Flight Light Inc., Systems Interface Ltd., Airfield Lighting Systems, Airsafe Airport Equipment Co. Ltd., EFLA Oy, IFALPA, Airport Lighting Specialists Pty. Ltd.
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Top Trend - Product Innovations Transforming The Instrument Landing System And Virtual Landing Aids Market
Product innovations are a key trend gaining popularity in the instrument landing system, and virtual landing aids market. Major companies operating in instrument landing systems and virtual landing aids market are focused on developing innovative products to sustain their position in the market. For instance, in March 2021, TKH Airport Solutions B.V., a Netherland-based aerospace company, launched a new product family of elevated airfield ground lights. These lights include an optional heated front glass for usage in cold areas and can be equipped with a circling guide light on top of the fixture, allowing the aircraft pilot to identify the runway in the event of a circling approach.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Instrument Landing System And Visual Landing Aids Market Characteristics
3. Instrument Landing System And Visual Landing Aids Market Trends And Strategies
4. Instrument Landing System And Visual Landing Aids Market - Macro Economic Scenario
5. Instrument Landing System And Visual Landing Aids Market Size And Growth
…..
27. Instrument Landing System And Visual Landing Aids Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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