North America attitude & heading reference system market to procure sizable gains, global industry remuneration to exceed USD 455 million by 2025
Publisher : Fractovia | Published Date : 2019-03-07Request Sample
The exponential growth rate depicted by the global aviation industry is expected to prove extremely beneficial for expansion of AHRS market over the forthcoming years. Defined as an inertial sensor installation, the AHRS provides crucial attitude reference & heading reference data for the aircraft, which is then fed to key aircraft systems such as flight deck displays, flight controls & weather radar antennas to facilitate typical computer-aided aircraft operations ranging from platform stabilization to avionics, & robotic systems control, thereby making the system a critical component that is utilized extensively across the aviation industry. This lucrative segment is slated to be a major revenue generator for the AHRS market in coming years.
U.S. Attitude and Heading Reference System Market, By Type, 2018 & 2025, (USD Thousand)
Moreover, owing to the benefits offered by the use of MEMS-based sensors in the systems, which include reduced wiring, lower weight, lesser cost as well as minimized power consumption, the AHRS has also proved to be an ideal navigational component for the niche segment of small unmanned marine & ground vehicles that are typically used in military of scientific research operations.
Global AHRS market | Impact of North America’s expanding aviation industry
With air passenger numbers that once lingered near the 1.4 billion mark in 1998, air travel has become more accessible today, evident from the almost 4 billion air passenger traffic recorded in 2017. Propelled by this increasing footfall airlines are ramping up their capabilities, by modernizing their aircraft fleets & also acquiring new-generation fuel-efficient aircrafts, to be able to serve more passengers.
These steps are becoming exceedingly more visible in North America where air is considered to the primary mode of transportation when traveling long distances. According to a report by the United States Federal Aviation Administration (FAA), the Air Traffic Organization (ATO) of the FAA, on a daily basis, provides services to approximately 43,000 flights that cover over 5.3 million square miles of the U.S. domestic airspace. Closely following the U.S, the aviation industry of Canada is also witnessing extensive demand due to the vast distances between the nation’s major cities, which makes air travel one of the only viable travel options when traveling from one city to another. In fact, according to Routesonline, owing to the burgeoning demands the airline route between Vancouver & Calgary recorded the region’s biggest year-on-year rise in terms of available seat capacity, growing by more than 20.2% in 2018.
The increasing demands witnessed by the commercial air travel segment is slated to be the primary factor fueling North America’s AHRS market over the years ahead. Moreover, the presence of some of the world’s major aircraft OEMs like Lockheed Martin, Northrop Grumman & Boeing and their focus in introducing AHRS in the regional market would be further supporting the industry growth.
Global AHRS market | Propelled by increasing demand for helicopters in APAC
Driven by the dizzying pace at which numerous nations in APAC are upgrading their economic standing in the world, the AHRS industry, owing to its application in aviation, is slated to be one of the many marketplaces that would be profiting from this improvement. The APAC AHRS market is specifically projected to gain momentum owing to the region’s expanding helicopter industry. In fact, the demand for helicopters is so high that according to a report by Airbus, the APAC represents more than 30% of the global parapublic & civil helicopter fleet. Moreover, the region also accounts for more than 25% of the world’s military helicopter fleet.
The renowned aeronautics company presently dominates the region’s civil & parapublic helicopter market, as its helicopters account for a massive 40% of the region’s market share and represents approximately 10% of the region’s military helicopters that are in operation. The region’s overall helicopter market, projected to experience a substantial yearly growth rate over the next two decades, would be enabling the APAC AHRS market to gain significant proceeds over the coming years.
Global AHRS market | Impact of the world’s prospering agriculture drone industry
The threat of climate change is adversely affecting the world’s food security on a major level as the environmental changes are wreaking havoc on crop production. It is becoming imperative for farming communities & other entities involved in the field of agriculture to adapt their respective agricultural practices to these challenges. According to a report by the Food & Agriculture Organization of the United Nations, the industry has now turned to emerging technologies. One of the latest developments in this regard is the increased use of small unmanned aerial vehicles (UAVs) that help with decision making through reliable, accurate & timely information gathering.
While UAVs find use in a plethora of different sectors ranging from military & defense to humanitarian relief, disaster management, the agriculture industry would be a prominent deployment advocator, and would thereby enable the expansion of the global AHRS market.
Over the forthcoming years, the presence of major players across the global AHRS industry are projected to drive the adoption of AHRS and contribute to market growth. In fact, a report by Global Market Insights, Inc., estimates that the AHRS industry valuation is slated to exceed the USD 455 million renumeration mark by 2025.
