LONDON--(BUSINESS WIRE)--According to the latest market research report by Technavio, the global instrument landing system and visual landing aids market is expected to grow at a CAGR of around 5.4% until 2020.
In this report, Technavio covers the present scenario and growth prospects of the global instrument landing system and visual landing aids market for 2016-2020. To calculate the market size, the report considers revenues generated globally through the sale of instrument landing systems (ILS) and visual landing aids (VLA).
“Growing demand for autopilot landing systems is a major trend in the market. Autopilot landing systems enable secure landing of aircrafts during harsh climatic conditions and limited visibility. With the use of these advanced landing systems, factors such as heading, altitude, airspeed, and distance can be effectively monitored and measured to ensure safe landing of aircrafts,” said Abhay Singh, one of Technavio’s lead industry analysts for aerospace components.
“Presently, there is continuous growth in commercial aircraft movement and passenger traffic across the globe. With the international air transport association (IATA) projecting around 16 billion passengers likely to transit by 2050, compared to 3.3 billion in 2014, the market is slated to witness a boom in adoption of ILS and VLA technology in the upcoming four years,” added Abhay.
Geographical segmentation by market share 2015
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APAC: largest region for the global instrument landing system and visual landing aids market
Growth in air travel in APAC resulted in approximately 8.7% increase in passenger traffic, with over 2 billion passengers, in 2013. The growing demand for air travel has therefore resulted in development of more airports and higher investments in the region, and it is expected to drive the market significantly during the forecast period.
For example, in 2013, there were more than 6,000 airports and airfields in the region, of which China and India had almost 507 and 346 airports respectively. In addition, in 2015, close to USD 190.8 billion was invested in the region to develop airfields and replace runways. During the same period, Soekarno Hatta Airport in Jakarta invested USD 1.7 billion on the development of a passenger terminal and a runway. In the same year, China's National Development and Reform Commission (NDRC) invested close to USD 24.3 billion for the construction of seven new runways in Chengdu Airport and Beijing Daxing Airport.
Americas: second largest region for the global instrument landing system and visual landing aids market
The ILS and VLA market was valued at close to USD 443.5 million in 2015. The increase in aircraft orders is prompting the implementation of improved safety standards at airports in the Americas region. Further, transportation security administration (TSA) is also making extensive investments in airports in the region, which is also expected to drive the market.
It is estimated that back in 2013, there were over 21,000 airports and airfields in the Americas, with more than 13,000 of them in the US alone. During the same period, close to 1.5 billion passengers traveled from North American airports, and the numbers are anticipated to rise further over the next four years.
As airliners look to invest heavily in technology and upgraded systems to enhance safety and improve flight operation, the trend will likely have a positive impact on the overall ILS and VLA market during the forecast period.
Factors impacting instrument landing system and visual landing aids market in EMEA
The ILS and VLA market was valued at close to USD 368.5 million in 2015. In 2013, there were approximately 7,000 airports and airfields in EMEA, of which Russia accounted for 1,218, Germany 539, France 464, the UK 460, and Saudi Arabia 214.
In 2014, European airliners acquired more than 180 new aircrafts, of which 78% were single aisle. Moreover, the current fleet of 1,900 widebody aircrafts are also anticipated to be replaced by 3,700 new aircrafts by 2034. Middle East countries have the fastest projected growth in the number of aircraft, with more than 1,700 widebody and 1,500 narrowbody aircrafts to be delivered in the next 20 years. The market is led by Emirates, Qatar Airways, and Etihad Airways. Since aircrafts are likely to be equipped with ILS receivers and VLA systems, higher procurement of aircrafts will drive the market until 2020.
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