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.
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a sample copy or view summary of this report:
www.grandviewresearch.com/industry-analysis/multi-mode-receiver-mmr-market
www.grandviewresearch.com/industry-analysis/multi-mode-receiver-mmr-market
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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More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/technology
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Grand View Research has segmented the global multi-mode receiver (MMR)
market based on platform, fit type, and region:
Multi-mode
Receiver Platform Outlook (Revenue, USD Million, 2014 - 2025)
- Fixed
Wing
- Rotary
Wing
Multi-mode
Receiver Fit Type Outlook (Revenue, USD Million, 2014 - 2025)
- Line-fit
- Retrofit
Multi-mode
Receiver Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- France
- Germany
- Asia
Pacific
- China
- India
- Japan
- South
America
- Brazil
- MEA
Access
Press Release Of This Research Report by Grand View Research: www.grandviewresearch.com/press-release/global-multi-mode-receiver-mmr-market
About
Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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Info: www.grandviewresearch.com
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