The global demand for commercial aircraft video surveillance systems is expected to remain strong, at an estimated CAGR of 5.1% over 2018-2028. Cabin and cockpit surveillance systems will remain among the most sought after products in commercial aircraft video surveillance systems market, according to FMI's analysis.
Commercial Aircraft Video Surveillance Systems Installation Favored by Regulatory Standards
With growing incidences of terror attacks and a number of serious illegal activities at national as well as international levels, it is most likely that the rate of adoption of advanced security solutions will see healthy growth, subsequently driving the commercial aircraft video surveillance systems market.
After the 9/11 attack at the World Trade Centre and a heap of other instances over the years, the concept of commercial aircraft video surveillance systems came into existence. North America is projected to remain a prominent region in terms of market share in the commercial aircraft video surveillance systems market.
The growing number of air travel passengers has also created demand for travel security solutions, which is boosting demand for commercial aircraft video surveillance systems. Global organizations, such as ICAO (International Civil Aviation Organization), Federal Aviation Administration, European Aviation Safety Agency amongst others, have mandated installation of commercial aircraft video surveillance systems within all commercial aircrafts, providing a prominent impetus to the demand growth of commercial aircraft video surveillance systems.
Cabin & Cargo Surveillance Systems Gaining Ground in Commercial Aircraft Video Surveillance Systems Market
Based on the type of aircraft, commercial aircraft video surveillance systems market is likely to sustain ~70% of the demand from single aisle (narrow body) aircraft. As the number of jet planes has been estimated to almost double by the end of next decade, commercial aircraft video surveillance systems are poised to experience healthy growth in sales over the coming years.
Cockpit surveillance systems and ground manoeuvring camera systems have been installed in a majority of aircrafts. However, there has been rise in demand for cabin and cargo surveillance systems to monitor passenger and crew safety. The day/night capability camera system to analyze passengers' behavior in a variety of cabin conditions such as dark or light is gaining popularity in commercial aircraft video surveillance systems market.
Air cargo currently represents over 35% of the global trade, by value. Major E-Commerce players such as Amazon, Alibaba, and eBay among others have been registered high reliance on air transport for express deliveries, thereby creating significant opportunities for commercial aircraft video surveillance systems installation within cargo planes.
Europe Accounts for Nearly 1/4th Share of Market Revenue
Substantial fleet size and aircraft production have been placing North America at the leading position in commercial aircraft video surveillance market. As suggested by FMI's report, Europe will also be a significant region, with ~25% revenue share in the global commercial aircraft video surveillance systems market.
Asia Pacific's market for commercial aircraft video surveillance systems is anticipated to expand at relatively higher growth rate owing to the growing investments for the development of aerospace industry, rapidly expanding fleet, and increasing production and number of air travel passengers.
Commercial Aircraft Video Surveillance Systems Market: Key Vendors
The report highlights some of the top companies operating in the global commercial aircraft video surveillance systems market such as Securaplane Technologies Inc. (Meggitt Plc), UTC (United Technologies Corporation), Airbus S.A.S., AD Aerospace, Global Airworks Inc., Latecoere Group, navAero AB, Orbit Technologies Ltd., Cabin Avionics Limited, and Kappa Optronics GmbH.
Press-Release Source – https://www.prnewswire.com/news-releases/commercial-aircraft-video-surveillance-systems-market-will-grow-at-5-1-cagr-by-2028--future-market-insights-300814654.html
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