New Report Predicts Significant Growth In The Sector

A new report available from ASDReports forecasts that the global airborne collision avoidance system market is projected to grow from $6.04 billion in 2017 to $7.97 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 5.68% from 2017 to 2022. A rise in the number of UAVs in the commercial airspace, and increased deliveries in the number of aircraft are the major factors driving the airborne collision avoidance system market.

According to the report, "Airborne Collision Avoidance System Market by Type (ACAS I & TCAS I, ACAS II & TCAS II, PCAS, FLARM), Platform (Fixed wing, Rotary Wing, UAV), Component (Processor, Mode S & C transponder, Display unit), End-Use, and Region - Global Forecast to 2022", the fixed wing segment is projected to lead the airborne collision avoidance system market during the forecast period.

On the basis of platform, the fixed wing segment is estimated to lead the airborne collision avoidance system market during the forecast period. The commercial and military aviation sectors have witnessed significant growth over the past few years, and this trend is anticipated to continue in the near future. The increase in commercial aviation operations, rise in air travel, and increase in defense expenditures are some of the key factors driving the growth of the airborne collision avoidance system market in the fixed wing segment.

On the basis of component, the mode S & C transponder segment of the airborne collision avoidance system market is projected to grow at the highest CAGR during the forecast period. This is attributed to the demand for TCAS II installations which provide air-to-air data exchange among TCAS-equipped aircraft, so that coordinated, complementary resolution advisories can be issued when required.

North America is projected to lead the airborne collision avoidance system market during the forecast period. The growth of the airborne collision avoidance system market in North America is expected to be driven by the increase in aircraft deliveries and rise in demand for new aircraft entering the market.

Major players profiled in the airborne collision avoidance system market report are Honeywell International Inc. (U.S.), Lockheed Martin Corporation (U.S.), BAE Systems Plc (U.K.), L 3 Technologies, Inc. (U.S.), and Saab Group (Sweden), among others.

(Source: ASDReports news release)

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