Description
The goal of this report is to characterize, portray, and
estimate the market on the premise of sort, application, therapeutic condition,
and area. It gives point-by-point data with respect to the main considerations
influencing the development of the market. This report likewise tracks and
examines aggressive improvements of the key players regarding market
advancements, item portfolios, and financials
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The global multi-mode receiver market
size is expected to reach USD 1.3 billion by 2025, according to a new study by
Grand View Research, Inc., recording a 4.4% CAGR during the forecast period.
Multi-mode receiver (MMR) plays a crucial role in augmenting navigation and
landing capabilities of an aircraft. As a result, the number of aircraft
deliveries emerges as a crucial factor for the MMR market. Although worldwide
aircraft shipments have dropped from 2,331 in 2015 to 2,262 in 2016 as stated
by the General Aviation Manufacturers Association (GAMA), air passenger traffic
has increased significantly over the past 10 years, particularly in developing
economies such as India and China. This is expected to propel market growth
An MMR integrates multiple
functionalities into a compact unit, thereby reducing the weight and space
factor of an aircraft. It also assists the pilot in positioning, navigating,
and landing the aircraft, even in unfavorable conditions. These factors are
likely to work in favor of the MMR market
Another important factor contributing
to market growth is initiatives undertaken by airlines across the world to
modernize their fleets. Stringent mandates have been laid down for the aviation
sector worldwide. At the same time, new technologies such as Automatic
Dependent Surveillance - Broadcast (ADS-B) Out are also emerging. While
airlines are undertaking various aircraft modernization programs and upgrading
their fleets, they also have to make sure their aircraft support latest
technologies and evolving Required Navigation Performance (RNP) navigation
approaches. As a result, airlines are spending aggressively on advanced
navigation systems. However, safeguarding aircraft avionics
systems/technologies from cyber-attacks is one of the crucial challenges faced
by the aviation industry
At present, a handful of market
players holding expertise in manufacturing MMR systems are dominating the
market. Strong geographical presence of these incumbents, coupled with existing
long-term supply contracts, will ensure steady growth of the MMR market over
the forecast period. Market players are also adhering to strategies aimed at
new product development and expansion in order to strengthen their foothold in
the market. For instance, in 2017, Honeywell International Inc. developed a new
integrated MMR that complies with GLS CAT-III navigation standards
Further key findings from the study suggest:
• The retrofit segment is expected to
exhibit a CAGR higher than that of the line-fit segment, as airlines remain
keen on retrofitting their aircraft with latest avionics
• The fixed wing segment is
anticipated to register the highest CAGR over the forecast period in line with
increasing number of aircraft being delivered in developing economies of Asia
Pacific
• The North American region held a
market share of 43.0% in 2016 as a result of strong demand from major aircraft
manufacturers such as Bombardier and Boeing
• While MMR helps reduce power
consumption, it also happens to be lighter and smaller as compared to receiver
solutions available in the market at present. Such favorable factors would
ensure steady growth of the MMR market over the forecast period
• Players such as BAE Systems;
Honeywell International Inc.; Leonardo S.p.A.; Rockwell Collins; and Thales
Group are dominating the market leveraging their technical expertise
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This report is a total investigation of ebb and flow inclines in
the market, business development drivers, and restrictions. It gives showcase
projections to the coming years. It incorporates investigation of late
advancements in innovation, Doorman's five power demonstrate examination and
point by point profiles of best industry players. The report additionally incorporates
a survey of miniaturized scale and large-scale factors fundamental for the
current market players and new participants alongside nitty gritty esteem chain
examination
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