The global multi-modereceiver 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.
Full research report on multi-mode receiver market
analysis: https://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.
View
more reports of this category by Grand View Research at: https://www.grandviewresearch.com/industry/technology
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
o
U.S.
o
Canada
·
Europe
o
France
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
South America
o
Brazil
·
MEA
Access press release by Grand View
Research:
https://www.grandviewresearch.com/press-release/global-multi-mode-receiver-mmr-market
https://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.
