Aircraft synthetic vision market is anticipated to grow at a CAGR of 3.2% during the forecast period (2023-2030). An aircraft synthetic vision system (SVS) is a technology that provides pilots with a virtual, computer-generated view of the external environment, enhancing situational awareness during flight. It utilizes 3D terrain, obstacles, and other navigation data to create a visual representation on the flight deck displays, even in low-visibility conditions.
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The global aviation sector faced considerable challenges due to the COVID-19 pandemic. The pandemic had a significant impact on the commercial aviation sector, leading to a notable reduction in passenger and cargo traffic, and a downturn in demand for airport equipment. According to the 2022 report of the International Air Transport Association (IATA), the aviation industry suffered losses of $175 billion in 2020 and $104 billion in 2021 respectively. As per the 2023 report from IATA, the industry is expected to regain profitability in 2023, rebounding from the loss of $175 billion in 2020. Anticipated total airline revenue is projected to reach approximately 93% of the 2019 level, accompanied by operating profits amounting to $22.4 billion. The increase in air passenger traffic noted in 2022 continued its momentum in the first quarter of 2023. Industry-wide revenue passenger kilometres (RPKs) reached 88% of pre-pandemic levels by March 2023. Also, all regions demonstrated improvements, highlighting the resilience of the broad-based gradual recovery. With the rapid growth of passenger traffic and revenue of the aviation industry, aircraft deliveries are also growing globally which is driving demand for synthetic vision systems. As per IATA, aircraft deliveries are expected to experience a rapid recovery in 2023, with a projected total of 1,540 aircraft scheduled for delivery, indicating a substantial increase of 300 units (24%) compared to 2022. Based on current estimates, these deliveries are anticipated to surpass the levels observed in 2019. The year-on-year (YoY) increase in 2023 is primarily attributed to heightened orders from North America and Europe, with deliveries showing a substantial YoY growth of 32% and 33%, respectively.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Aircraft Synthetic Vision Market Report Segment
By Application
- Commercial
- Military
- General Aviation
By Display system
- Primary Flight Display
- Navigation Display
- Heads-up & Helmet-mounted Display Systems
Global Aircraft Synthetic Vision Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the aircraft synthetic vision market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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