LONDON, Jan. 4, 2016 /PRNewswire/ -- Technavios market research analyst anticipates the global commercial aircraft video surveillance market to grow at a CAGR of approximately 5% by 2020. The growing emphasis on passenger safety is predicted to bolster the demand for surveillance systems during the forecast period. Moreover, the introduction of stringent policies by regulatory bodies is envisaged to necessitate the incorporation of video cameras for surveillance inside an aircraft.
The augmented demand for cost-effective surveillance equipment is the key driver for the growth of this market. Recently, it has been observed that numerous airline companies are looking to reduce their total cost of operation by using the latest avionics systems in their aircraft. Such systems allow centralized monitoring and help to control a large number of interconnected and electrically powered equipment and subsystems in the cabin.
Segmentation by aircraft type and analysis of the commercial aircraft video surveillance systems market
In this market research, Technavio analysts have anticipated the narrow-body aircraft segment to account for more than 67% of the total market share by 2020. The recent increase in the demand for narrow-body aircraft from organizations across the globe is predicted to result in this segments high market share during the forecast period.
Geographical segmentation of the commercial aircraft video surveillance systems market
Technavio market research analysts have estimated the Americas to be the highest revenue-generating segment during the predicted period. The recent increase in air passenger traffic in this region is predicted to necessitate the development of automated systems, which are capable of capturing passenger behavior and enhancing the safety and security of passengers. This increase in air passenger traffic is estimated to result in this regions high revenue generating a capacity of more than USD 60 million by 2020.
Competitive landscape and key vendors
The global market for commercial aircraft video surveillance systems is highly fragmented due to the presence of numerous large and small-sized players. To gain traction in this market, many vendors are increasing their capital for infrastructure development and R&D. The vendors in this market compete on the basis of product reliability, weight, size, and price to gain maximum market prominence during the predicted period.
The leading vendors in the market are-
The other prominent vendors of the market include Aerial View Systems, Global Epoint, Navaero, and Strongpilot.
Key questions answered in the report include
What will the market size and the growth rate be in 2020
What are the key factors driving the global commercial aircraft video surveillance systems market
What are the key market trends impacting the growth of the commercial aircraft video surveillance systems market
What are the challenges to market growth
Who are the key vendors in this market space
What are the market opportunities and threats faced by the vendors in the global commercial aircraft video surveillance systems market
Trending factors influencing the market shares of the Americas, EMEA, and APAC
What are the key outcomes of the five forces analysis of the commercial aircraft video surveillance systems market
Technavio also offers customization on reports based on specific client requirement.
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