The collision avoidance system market size is expected to grow due to the increasing acceptance of collision avoidance systems in the automotive sector. Additionally, the market will benefit from improving aircraft safety standards in developing countries. Fortune Business Insights has presented this information in its upcoming report titled “Collision Avoidance System Market, 2022-2029”.
Impact of Russia-Ukraine War Implication
The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement. There is hardly any sector that the war has left untouched, especially aggravating the business landscape of sectors ranging from aerospace to oil & gas. Amidst prevailing challenges, stakeholders are gearing to turn adversities into opportunities. However, soaring military aid for Ukraine could provide impetus to stakeholders. Meanwhile, it is to be noted that the relevant sanction could augment operating costs and disrupt industries.
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On the basis of device, the market is segmented into blind-spot detection (BSD), adaptive cruise control (ACC), lane departure warning (LDW), autonomous emergency braking (AEB), night vision (NV), tire pressure monitoring systems (TPMS), electronic stability control (ESC), and driving monitoring system (DMS). On the basis of technology, the market is divided into LiDAR, radar, ultrasonic, and camera. On the basis of application, the market is classified intoaerospace, automotive, railway, mining, marine, and construction. Geographically, the market is segmented into Europe, North America, Asia Pacific, and the Rest of the World.
Report Coverage –
The report offers a detailed analysis of the global market. The report offers a true evaluation by highlighting data on several factors inclusive of growth drivers, restraints, industry developments, and partnerships, mergers, and acquisitions. Additionally, it highlights the impact of COVID-19 on the industry’s growth.
Drivers & Restraints –
Aircraft Assessment Programs and Regulations Likely to Augment the Market Growth
Several aircraft OMEs are increasingly focusing on installing collision avoidance systems due to security concerns, which is projected to drive the market. Furthermore, the market is predicted to grow because of the rising implementation of systems in the automobile sector. The growing aerospace safety norms in developing countries are predicted to offer potential opportunities for the market. Although, the high maintenance costs associated with these systems are predicted to be a major stumbling block in the global collision avoidance system market growth.
Regional Insights –
North America Likely to Lead the Marketplace Throughout the Projected Time
The market is analyzed across the four major regions: Europe, North America, Asia Pacific, and the Rest of the World. North America is likely to lead the global collision avoidance system market sharethroughout the forecast period;the growth is attributable to advanced mid-air collision solutions provided by the key players based in the U.S., such as General Electric Company, Rockwell Collins Inc., Wabtec Corporation, and others to secure the airpath of various commercial aircraft.
Asia Pacific is expected to grow at a speedy rate during the forecast period. It arises as a result of the rising luxury vehicle sales in emerging economies such as China and India. The increasing use of light detection and ranging (LiDAR) technology from China’s armed forces is expected to boost the regional market growth.
Europe is anticipated to witness significant market growth during the forecast period. The growth is attributable to the rising use of automated driving systems (ADS) in the U.K., Germany, and the Rest of the World. Additionally, the market is being propelled by the rising adoption of blind-spot detection and lane departure warning systems in Latin America, the Middle East, and Africa.
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Competitive Landscape –
Key Players to Focus on Employing Technological Advancements
The global market is fairly competitive, with several key players dominating the market. Additionally, the market is expected to regain a significant pace over the forecast period, owing mostly to assistance from emerging markets. The primary intent of mergers and acquisitions is to employ new technologies, improve portfolios, and leverage capabilities. For instance, LILEE Systems, a smart transportation solutions supplier, announced the debut of Safe Rail, a revolutionary Hi-rail collision avoidance system, in March 2021. The new systems work in tandem with the SafeRide fleet safety solution to keep high-rail cars safe on the tracks and on the roads.
Industry Development –
March 2021: NASA and SpaceX signed a contract sharing data to coordinate flight safety. The agreement focused on avoiding conjunctions and launch collisions between NASA spacecraft and SpaceX’s huge constellation of Starlink satellites.
List of Key Players in the Collision Avoidance System Market:
- Alstom SA (France)
- Autoliv Inc.(Sweden)
- Automotive Plc. (U.K.)
- Aviation Communication & Surveillance Systems, LLC (U.S.)
- Becker Mining Systems AG (Germany)
- Delphi Denso Corporation (Japan)
- Hexagon AB (Sweden)
- Honeywell International, Inc. (U.S.)
- Robert Bosch GmbH (Germany)
- Rockwell Collins, Inc. (U.S.)
- Saab AB (Sweden)
- General Electric Company (U.S.)
- Wabtec Corporation (U.S.)
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