Market Introduction
The European Union (EU) is robustly focusing on expanding the aerospace sector as one of the most high-tech sectors in the region. The European Aeronautic industry is a diverse industry engaged in the development and manufacturing of a broad spectrum of products, including aero engines, helicopters, civil and military aircraft, and associated equipment. Furthermore, North Atlantic Treaty Organization (NATO) members, namely, France, are purposely aiming to enhance their defense spending as the US is continually inspiring NATO countries to upsurge military spending to about 2.0% of GDP. The region is emphasizing adoption of solutions that vary from military aviation to military ground vehicles and submarines, which are designed to ensure success in critical missions in the air, on land, at sea, as well as in space.
Market Overview and Dynamics
Governments of various countries in the region are framing energy policies that boost the use of alternative and clean solutions, thereby contributing to the development of the active noise and vibration control system market in this region. In 2015, the UN adopted sustainable development goals to reduce fossil fuel consumption and work toward producing energy through alternative sources by 2030. Moreover, the rising preference for these energy forms is leading European utilities to spend robustly on grid balancing. Energy companies across the Electricity Value Network (EVN) demand efficient energy generation and distribution systems that integrate active noise and vibration control systems for proficient operations.
Key Market Segments
The active noise and vibration control system market has been segmented based on type, system, application, and country. Based on type, the market has been fragmented into vibration and noise. The vibrations segment represented the largest share of the overall market throughout the forecast period and is expected to be the fastest-growing. Based on the system, the active noise and vibration control system market has been segmented into sensors, actuators, controllers, and dampers. In 2019, actuators contributed a substantial share in the Europe active noise and vibration control system market, followed by sensors, respectively. The active noise and vibration control system market is further segmented on the basis of application into aerospace, defense, railway, and general application. During the forecast period, the growing demand from commercial aircraft manufacturers is expected to drive the market.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the active noise and vibration control system market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Fabreeka International, Inc., FAURECIA CREO AB, Honeywell International Inc., Hutchinson, Moog Inc., Parker Hannifin Corporation, Terma A/S, Trelleborg AB, and VICODA GMBH.
Reasons to buy report
EUROPE ACTIVE NOISE AND VIBRATION CONTROL SYSTEM MARKET SEGMENTATION
Europe Active Noise and Vibration Control System Market– By Type
Europe Active Noise and Vibration Control System Market – By System
Europe Active Noise and Vibration Control System Market – By Application
Europe Active Noise and Vibration Control System Market – By Country
Company Profiles