Multi-Mode Receiver Market is anticipated to reach USD 1.3 billion by 2025. The market is anticipated to grow with a healthy rate in the years to come. Demand for lightweight aircraft multi-mode receiver and components within retrofit market and improved aircraft sales would induce the market toward development in the years to come. The increasing demand for lightweight and space saving for better fuel economy is the foremost driving factor for the Multi-Mode Receiver (MMR) market.
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The key driving factors responsible for the growth of Multi-Mode
Receiver market :
The rising in the number of
aircraft distributions is also anticipated to propel the MMR industry in the
years to come. On the other hand, growing susceptibility of aviation technology
to cyber-attacks monitoring may hamper the growth of the industry, and it is
anticipated to grow at a significant CAGR of 4.4% in the upcoming period as the
scope, product types, and its applications are increasing across the globe.
The market may be explored by
fit, platform, applications, sub-system and geography. The market may be
explored by Fit as Line-fit and Retrofit. In 2017, line-fit segment dominated
the multi-mode receiver industry, due to the mandate for the installation of multi-mode
receivers in innovative commercial aircraft. The growing aircraft retrofit
activities, procedures that make multi-mode receiver a required feature in any
aircraft are anticipated to drive this segment in the years to come.
Multi-Mode Receiver market may be
explored by Platform as Fixed Wing, (General Aviation, (Business Aircraft, and
Light Aircraft), Commercial Aviation, (Narrow Body Aircraft, Very Large
Aircraft, Wide Body Aircraft, and Regional Transport Aircraft), Military
Aviation, (Transport Aircraft, and Fighter Aircraft)), Rotary Wing, (Military
Helicopters and Commercial Helicopters).
Commercial aviation segment is
estimated to account for the highest market share in the forecast period. Due
to the commercial aviation industry mainly uses wide-body aircraft and
narrow-body aircraft to cargo and transport passengers. Moreover, the fixed
wing segment may rule the market and continue to rule the roost in the years to
come. However, Rotary wing aircraft are mainly used for oil and gas, rescue,
emergency, and for military applications. And it is anticipated to develop
steadily in the forthcoming period.
The market may be explored by
application as Landing and Navigation & Positioning. The Navigation &
Positioning segment is dominating the segment application in the Multi-Mode
receiver industry in 2017. Due to MMRs use several navigation systems, such as
distance Measuring Equipment (DME), VOR (VHF omnidirectional radio range), to
offer optimum navigation. The industry may be explored by Sub-system as GLS
Receiver, MLS Receiver, ILS Receiver, and VOR/DME Receiver.
Asia Pacific accounted for the
major share of the global Multi-Mode Receiver market Size Analysis in 2016; and
will continue to do so in the forecast period. Asia-Pacific region is projected
to develop at the highest CAGR of 3.9% in the years to come. This development
can be ascribed to the high air passenger traffic, foremost to a rise in the
number of aircraft distributions in this region. Growing demand for air travel
owing to declining travel price and growing number of air routes has led to the
rise in passenger traffic.
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