The aircraft video surveillance market was valued at US$ 472. 75 million in 2019 and is projected to reach US$ 630. 52 million by 2027; it is expected to grow at a CAGR of 4. 9% from 2020 to 2027.
New York, March 24, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Video Surveillance Market Forecast to 2027 - COVID-19 Impact and Global Analysis By System Type, Fit Type, and Aircraft Type" - https://www.reportlinker.com/p06038311/?utm_source=GNW
Increasing demand for enhanced security in aircraft and accentuating volumes of aircraft order and delivery drive the growth of the global aircraft video surveillance market.However, the invasion of privacy hinders the growth of the market in a few applications.
Despite limitations, rising demand for business aircraft is anticipated to bolster the growth of the aircraft video surveillance market during the forecast period.
The commercial aircraft fleet has experienced tremendous changes in the past few years in terms of functions, equipment, and features.To improve safety and security for passengers and crew members, airline companies are adopting video surveillance systems.
This would help them to improve the brand image in a competitive market.Further, post 9/11 terrorist attack, the importance of security and surveillance systems has increased, especially in commercial aircraft.
The installation of advanced surveillance system at passenger cabins and cockpit doors has become an essential aspect for airline companies.For instance, in October 2019, Federal Aviation Administration (FAA) approved new legislation to install second flight deck doors in all new aircraft of the US aviation industry.
This cockpit door would be equipped with advanced flight deck surveillance systems, allowing the pilot to monitor unusual behavior, if any, before opening the door.
Similarly, Air Canada imposed new directives to improve security in aircraft, such as installation of reinforced doors for blocking the intruders from entering the cockpit and installation of cockpit locks with video surveillance to verify the crew members.The video surveillance system is playing a key role in aircraft security as it authenticates the access to crew for the cockpit.
Besides, video surveillance systems that monitor passenger cabins for suspicious activities are providing enhanced control to the aircraft pilot.The modern-day video surveillance systems available in the marketplace are equipped with advanced connectivity solutions that facilitate easy transmission of signals and data.
For instance, in June 2019, KID-Systeme GmbH, an aircraft video surveillance market player, improved their onboard video surveillance with new Cargo Cam and Cabin Cam products.The new fully connected video surveillance systems improve cargo bay security, flight crew protection, and flight deck safety.
New product developments and increased need for enhanced security are bolstering the aircraft video surveillance market growth.
During widespread COVID–19 virus, the entire commercial aviation industry came to a halt with minimal resources to foresee the future.Several production units in the US, France, Russia, and China were temporarily paused in order to adhere to the government rules in respect to lockdown and physical distancing.
The aircraft manufacturers witnessed 30%–50% reduction in demand for most of the aircraft models, especially, commercial aircraft models.The lower aircraft production and assembly has affected the demand for aircraft video surveillance, resulting in lower revenue generation.
This factor negatively impacted the aircraft video surveillance market.
From the aftermarket perspective, the scenario has been entirely different from the past years.The aftermarket of aircraft video surveillance systems was growing at a steady rate during the pre-COVID period because the aircraft fleet of older narrow body, wide body, regional, business/corporate, and trainer’s aircraft continued to surge year on year.
However, the governmental and respective airline companies’ measures to temporarily shut down their business have had hugely affected the entire aviation aftermarket, including video surveillance.
Moreover, the strategy to retire various wide body jets and narrow body jets by different airlines across the globe with an objective to cut down operational costs has been adversely affecting the aviation aftermarket industry.This is also expected to weaken the demand for video surveillance in the coming years.
Hence, the negative impact on aviation aftermarket also affected the businesses of numerous aircraft video surveillance market players.
The aircraft video surveillance market is segmented into system type, fit type, and aircraft type.Based on system type, the aircraft video surveillance market is further segmented into cockpit door surveillance system, cabin surveillance system, and environmental camera system.
In 2019, the cockpit door surveillance system segment accounted for a significant share in the global aircraft video surveillance market.Based on fit type, the aircraft video surveillance market is further segmented into retrofit and line fit.
In 2019, the line fit segment accounted for a significant share in the global aircraft video surveillance market.Based on aircraft type, the aircraft video surveillance market is further segmented into wide body aircraft and narrow body aircraft.
In 2019, the narrow body aircraft segment accounted for a significant share in the global aircraft video surveillance market.
The overall aircraft video surveillance market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining overview and forecast for the aircraft video surveillance market with respect to all the segments.It also provides the overview and forecast for the global aircraft video surveillance market based on all the segmentation provided with respect to five major regions North America, Europe, Asia Pacific, Middle East and Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the aircraft video surveillance market.
A few major players operating in the global aircraft video surveillance market are AD Aerospace Ltd.; Aerial View Systems Inc.; Cabin Avionics Ltd; Kappa Optronics GmbH; Global Eagle Entertainment Inc; Meggitt PLC; Collins Aerospace, a Raytheon Technologies Corporation Company; Parker Hannifin Corporation; BAE Systems plc; and KID-Systeme GmbH.
Read the full report: https://www.reportlinker.com/p06038311/?utm_source=GNW
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