Improving social conditions and changing economic structure are accelerating the pace of the region’s aviation industry growth. Countries in SAM are upgrading their aircraft systems with modern technologies to improve flight security. Commercial aircraft service providers are expanding their services in the region. For instance, in December 2020, JetBlue airline started a new flight service between Cheddi Jagan International Airport (GEO) in Guyana and John F. Kennedy International Airport (JFK) in New York. According to the Boing commercial market outlook report, Latin America is likely to witness a rise in demand for fleet deliveries, i.e., around 3,040 fleet deliveries in the next 20 years. Therefore, increasing number of airlines and aircraft, with growing R&D activities in the airline industry is creating a tremendous demand for aircraft video surveillance systems, thereby augmenting the market growth.
Brazil and Argentina are propelling the market growth by generating the demand for advanced aircraft equipped with modern security system for surveillance. According to Embraer, an aircraft manufacturing company, 66 new airports would-be built-in Brazil under the 2026 Privatization Plan, owing to substantial rise in number of passengers. The Increase in passengers across airports, the need for new aircraft fleet would surge, thereby, boosting the demand for aircraft video surveillance system. According to the Embraer company reports, in 2019, Latin America had 430 aircraft fleet in service and the number is projected to reach 810 by 2029. This statistic is analyzed to forecast the market size of aircraft video surveillance market during the forecast period.
Market Overview and Dynamics
The aircraft video surveillance market in SAM is expected to grow from US$ 64.37 Mn in 2019 to US$ 80.89 Mn by 2027; it is estimated to grow at a CAGR of 3.9% from 2020 to 2027. Rising Need for Improved Safety in Aircraft in developed countries has led to increase in the adoption Aircraft Video Surveillance. Countries with high GDP—the US among others—are vigorously carrying out large-scale industrialization and infrastructure developments
Moreover, focus on volumes of aircraft order and delivery are further expected to bolster the market growth.
Key Market Segments
The market for aircraft video surveillance market is segmented into system type, fit type, aircraft type and country. Based on system type, the market is segmented into cockpit door surveillance systems, cabin surveillance systems, and environmental cameras system. In 2019, the cockpit door surveillance systems held the largest share SAM aircraft video surveillance market. Based on fit type, the aircraft video surveillance market is divided into retrofit and line-fit. Similarly, based on aircraft type, the market is bifurcated into wide body aircraft and narrow-body aircraft. The narrow-body aircraft segment contributed a substantial share in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the SAM aircraft video surveillance market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Cabin Avionics Ltd., Kappa-Optronics GmbH, Global Eagle Entertainment Inc, Collins Aerospace, and Parker Hannifin Corp., among others.
Reasons to buy report
SAM Aircraft Video Surveillance Market SEGMENTATION
SAM Aircraft Video Surveillance Market – By System Type
SAM Aircraft Video Surveillance Market – By Fit Type
SAM Aircraft Video Surveillance Market – By Aircraft Type
SAM Aircraft Video Surveillance Market – By Country
Company Profile