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A collision avoidance system is majorly used to reduce the risk of mid-air collisions by using technologically advanced radar. A collision avoidance system is a pre-warning system to reduce the severity of a collision. These systems are majorly used in the aerospace and automotive sectors to avoid accidents. A collision avoidance system is used to detect the imminent strike, alerting the pilot about any mid-air collision.
The factors expected to drive the market are the growing focus of several aircraft OEMs to install collision avoidance system for security concern. Moreover, the increasing adoption of the collision avoidance system in the automotive industry is expected to propel market growth. Growing aerospace safety norms in developing countries are the upcoming opportunities for the market. High maintenance cost is associated with equipping the collision avoidance system as a major factor in hampering the market growth.
Key Market Driver -
• Aircraft Assessment Programs & Regulations Drive the Market • Growing Focus of Consumers & OEMs on Aircraft Safety
Key Market Restraint -
• Cyclic Nature of Aerospace Sales & Production
By device, the market is segmented into adaptive cruise control (ACC), blind-spot detection (BSD), lane departure warning (LDW), night vision (NV), autonomous emergency braking (AEB), electronic stability control (ESC), tire pressure monitoring system (TPMS), and driver monitoring system (DMS). Based on the technology, the market is segmented into radar, LiDAR, Camera, and ultrasonic. Based on application, the market is classified as automotive, aerospace, railway, marine, and construction & mining. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
Major key players present in the global collision avoidance system market are Alstom SA (France), Autoliv Inc.( Sweden), Automotive Plc. (The U.K.), Aviation Communication & Surveillance Systems, LLC (The U.S.), Becker Mining Systems AG (Germany), Delphi Denso Corporation (Japan), Hexagon AB (Sweden), Honeywell International, Inc. (The U.S.), Robert Bosch GmbH (Germany), Rockwell Collins, Inc. (The U.S.), Saab AB (Sweden), General Electric Company (The U.S.), Wabtec Corporation (The U.S.), and among others.
According to the fortune business insights, the collision avoidance system market is analyzed across four major regions North America, Europe, Asia Pacific, and the Rest of the World. At present, North America is projected to lead the marketplace all through the forecast timeline. This growth is attributed to advanced mid-air collision solutions provided by U.S.-based key players such as Rockwell Collins, Inc., General Electric Company, Wabtec Corporation, and others to secure the air-path of several commercial aircraft.
Asia-Pacific is estimated to capture a fastest growth during the forecast timeline. It occurs due to the growing sales of luxury vehicles from emerging economy such as China and India. The increasing use of light detection and ranging (LiDAR) technology from the armed force of China is anticipated to boost the market growth. Europe is also exhibited significant market growth during the forecast period. This growth is attributed to the increasing use of automated driving systems (ADS) in the U.K. and Germany. In the Rest of the World, the growing adoption of blind-spot detection and lane departure warning set up in Latin America and the Middle East & Africa propels the market.
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