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The global helideck monitoring system market size is expected to reach USD 290.5 million by 2027. The increasing utilization of electric propulsion owing to its user-friendliness, faster, reliable, and highly efficient operational benefits will have a tremendous impact on the market, mentioned in a report, titled “Helideck Monitoring System Market Size, Share & COVID-19 Impact Analysis, By Vertical (Marine, Oil & Gas), System (Hardware (Wind, GPS Sensors, Motion, Meteorology), Software), Application (Commercial, Defense), End-Use (OEMs, Aftermarket) and Regional Forecasts, 2020-2027.” The market size stood at USD 214.6 million in 2019 and is expected to exhibit a CAGR of 4.72% between 2019 to 2027.
Introduction of Primus Epic 2.0 by Honeywell to Foster Growth
Honeywell International Inc., an American publicly traded multinational conglomerate headquartered in Charlotte, North Carolina announced that it is offering Leonardo's helicopter division with a significant cockpit upgrade. The innovative Primus Epic 2.0 will be used for Leonardo’s AW139 helicopters. The trailblazing Primus Epic 2.0 will deliver innovative and intuitive features that provide better maps, improved situational awareness at night, and in marginal weather. Moreover, it will also give access through wireless connectivity, thus enhancing safety and saving time. It is the first-ever system with track-based technology that enables navigation through the definite path of the helicopter. Furthermore, the Primus Epic 2.0 Phase 8 upgrade encompasses features such as safer, smarter, and faster operations. Additionally, The SmartView synthetic vision system can be used for aiding pilots in navigating low-visibility conditions and challenging missions. The launch of the new upgrade by Honeywell is expected to create lucrative business opportunities for the market owing to its improved Cursor Control and menu navigation.
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Surging Offshore Oil and Gas Exploration Activities to Drive Market
The increasing investments in oil and gas exploration and production activities in e U.S., Canada, Saudi Arabia, China will spur enormous demand for offshore helicopters, therefore fostering the growth of the market. The growing development of compatible software that offers weather information such as wind speed and direction, temperature, and cloud data, thus enabling healthy growth of the market. For instance, Observator Group launched the OIC-2020 helideck monitoring system HMS 2.0 that has reduced cost, compact design, and less cabling during installation. Besides, the increasing R&D by major players for the introduction of cost-effective systems can have an outstanding effect on the market.
Launch of Next Generation Helideck Monitoring Systems by Key Players to Reinforce Industry
The key players in the industry are focused on producing advanced HMS with compact design, low cost, and short cabling installation time. Major industry players are innovating technologies to establish a strong footprint in the market. For instance, Observator Group announced that it will soon be unveiling OIC 2021 HMS 3.0, the latest version of the helideck monitoring system. The new system will include smart software. It will also comply with the latest standards of the Civil Aviation Authority (CAA) and the Helideck Certification Agency (HCA).
The Report Lists the Key Companies in the Helideck Monitoring System Market:
Further Report Findings:
The Helideck Monitoring System Market is Segmented into:
Value (USD million)