Enhanced flight vision systems, commonly termed as EFVS or EVS, is an airborne electronic system that aids in enhancing the situational awareness of the pilot during tough operating conditions. Factors such as focus on enhancing situational awareness and growing demand for systems ensuring reliable flight operations are driving the market growth.
Enhanced Flight Vision Systems Market is projected to grow at approximately 5% CAGR by 2023
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Furthermore, increasing concern towards ensuring aviation safety is positively impacting the market. But, high costs associated with technology upgrade are acting as a deterrent and hindering the market growth. However, the implementation of enhanced flight vision systems in aircraft by airlines and related retrofit and aftermarket options are creating promising growth opportunities for the market.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. In the North America region, there is a significant investment in R&D by OEMs and component manufacturers of advanced airborne electronics. This growing inflow of investment will result in the development of technologically advanced solutions and ultimately generate demand for global enhanced flight vision systems.
A lot of developments are taking place in the enhanced flight vision systems market. For instance, Elbit Systems is planning to acquire Universal Avionics Systems Corporation to enrich its product portfolio. Meanwhile, Astronics Corporation has teamed up with Federal Aviation Administration (FAA) to conduct research for developing a basis for possible application of enhanced vision systems in helicopters. Astronics Corporation has launched a high-resolution enhanced flight vision system for experimental and homebuilt aircraft, which features a long-wave infrared thermal imager with electronic zoom.
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This study provides an overview of the Global Enhanced Flight Vision Systems Market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia Pacific , Middle East & Africa and Latin America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
The key players in the global enhanced flight vision systems market are Honeywell International, Inc. (U.S.), United Technologies Corporation (U.S.), L-3 Communications Holdings, Inc. (U.S.), Thales Group (France), and Elbit Systems Ltd. (Israel).
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This post was originally published on Trading Herald