The Aircraft Video Surveillance market in North America is expected to grow from US$ 114. 66 million in 2019 to US$ 147. 99 million by 2027; it is estimated to grow at a CAGR of 4. 4% from 2020 to 2027. The accentuating volumes of aircraft order and delivery is also bolstering the growth of the industry.
New York, April 27, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Aircraft Video Surveillance Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By – By System Type ; Fit Type ; Aircraft Type ; and Country" - https://www.reportlinker.com/p06064998/?utm_source=GNW
The North America aircraft video surveillance market is displaying an upward trend for the past couple of years and it is anticipated to reflect a similar trend during the forecast period. The growth of the aircraft video surveillance market is majorly attributed to significant investments in the aerospace industry. Over the past few decades, the aviation industry has grown immensely. The growth rate of technological transformation has been outstanding, which stimulated the demand for various products and services. There is an increased adoption of aircraft video surveillance solutions in commercial aircraft owing to rise in demand for in-flight safety and security systems. Increasing number of complaints against airlines and improving regulatory standards of safety have highlighted the importance of aircraft video surveillance solutions. To improve the security level, airline companies are installing cockpit door surveillance systems to restrict unauthorized access to the cockpit area. Cabin surveillance systems are also gaining considerable growth in the market, as aircraft operators are demanding video surveillance solutions to monitor suspicious activities outside the cockpit area. Further, advancements in aircraft environmental camera systems, to offer detailed information about traffic, weather, and terrain, are supporting the market growth, which is further driving the demand for Aircraft Video Surveillance systems. The Rising Demand for Business Aircraft is among the other factors expected to positively influence the demand for Aircraft Video Surveillance.
The Narrow Body Aircraft Segment led the North America Aircraft Video Surveillance market in 2019.The overall North America 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 North America Aircraft Video Surveillance market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to 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 specializing in the North America Aircraft Video Surveillance market. AD Aerospace Ltd., Aerial View Systems Ltd., Kappa-Optronics GmbH, Global Eagle Entertainment Inc., Meggit Plc, Collins Aerospace, Parker Hannifin Corp., BAE Systems Plc, and KID-System are among the leading companies in the North America Aircraft Video Surveillance market.
The US is the worst-hit country in North America, with thousands of infected individuals facing severe health conditions across the country.The continuous growth of infected individuals has led the government to impose lockdown across the nation’s borders during Q2 and Q3.
Most of the manufacturing plants either were temporarily shut or operated with minimum staff; the aircraft OEMs and aircraft components and associated product manufacturers witnessed disruption in supply chain; these are some of the North American countries’ critical issues.Since the US has a larger density of aircraft manufacturers and aircraft associated technology and system manufacturers, followed by Canada and Mexico.
The outbreak of the virus has severely affected the production of each.The lower number of manufacturing staff has resulted in lesser production quantity.
From the aircraft OEM’s perspective, Boeing, the aviation giant in the region, has witnessed a significant fall in orders and production, which is one of the key restraining factors for the growth of the aircraft video surveillance market. Apart from Boeing, several other aircraft OEMs such as Bombardier, Textron, and Gulfstream have also experienced tremors of COVID–19 on their orders and production lines. From the supply side, the region has higher numbers of aircraft video surveillance market players. The restricted workforce, disruption in the supply chain, and limited volumes of orders have sternly shaken the aircraft video surveillance market players in the region. Due to COVID–19 pandemic impact, in November 2020, Boeing delivered 7 commercial jets compared to 24 deliveries in the same month last year. Till November 2020, Boeing delivered 118 aircraft fleet, as compared to 345 shipments till November 2019. The North American, aircraft manufacturing has been shattered by the momentary shutdown of aircraft manufacturing industry, which has reflected severely less demand for various types of systems and technologies including video surveillance systems. Owing to this, the aircraft video surveillance market players have been witnessing noteworthy less demand; however, as the unlock measures started and airlines resumed their operations, and restarted procuring aircraft models, the procurement rate of aircraft video surveillance begun to uprise at a slow pace.
Read the full report: https://www.reportlinker.com/p06064998/?utm_source=GNW
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