Pune, India, June 03, 2019 (GLOBE NEWSWIRE) -- Terrain awareness and warning system (TAWS) are electronic systems capable of alerting flight crew of potential terrain-related accidents. It was previously known as enhanced ground proximity warning system (EGPWS). Controlled flight into terrain (CFIT) has accounted for maximum flight crashes with airlines adapting TAWS to prevent such incidences. The global terrain awareness and warning system market report on Wise Guy Reports (WGR) contains a list of trends and drivers affecting the market.

Market Scope

The global terrain awareness and warning system (TAWS) market is anticipated to expand at 4.97% during the forecast period (2018-2023). Constant upgrades of hardware and software systems are likely to drive market growth. Updates of databases of terrains on the flight path dole out aural and visual alerts for the flight crew giving them ample time for taking preventive measures.

Mandatory upgrades of passenger and commercial aircraft outlined by various governments to prevent accidents can drive market demand. For instance, the Avionics Upgrade Program by the Canadian government is expected to modernize all aerial aircraft with reliable commercial off-the-shelf (COTS) systems. The growth in the transportation sector can be the perfect catalyst for the TAWS market in the coming years.

Request Free Sample Report at https://www.wiseguyreports.com/sample-request/4041879-global-terrain-awareness-and-warning-system-taws-market

Segmental Analysis

The global TAWS market has been segmented on the basis of system, aircraft type, and application.

By system, the market is segmented into Class A Systems, Class B Systems, and Class C Systems. The class A system is expected to exhibit 5.66% CAGR over the forecast period. This can be credited to the mandatory installation of TAWS equipment in defense and commercial aircraft.

By aircraft type, it is segmented into military aircraft, commercial aircraft, and others. The commercial aircraft segment is expected to exhibit 5.69% CAGR over the assessment period owing to various airlines entering the aerospace industry.

By application, it is segmented into piston engine powered and turbine engine powered. The turbine engine powered segment can generate revenues for the TAWS market at 5.22% CAGR over the assessment period due to its demand by turbine driven aircraft in China, Russia, and India.

Regional Analysis

The global terrain awareness and warning system (TAWS) market is expected to register a 4.97% CAGR during the forecast period from 2018 to 2023. In 2017, the market was dominated by Europe with 29.36% share, followed by Asia Pacific and North America with shares of 26.50% and 23.45%, respectively.

In Europe, the market growth is significantly driven by countries with high number of airline operators such as the U.K., Germany, France, and Italy. According to the European Commission, the region’s GDP is projected to grow by 1.8% annually, until 2035. According to the Global Market Forecast of Airbus, in Europe, there were 4,651 passenger fleets in service in 2018, and 6,609 new small and medium aircraft are anticipated to be delivered by 2037. Increase in the number of aircraft positively impacts the need for aircraft safety, thereby, inducing the need for TAWS demand. Furthermore, increasing defense expenditure by countries of Russia and the U.K. is bolstering the market growth. The region can register a CAGR of 5.02% during the forecast period.

The APAC region is touted to exhibit exemplary growth due to the boom in aerospace and defense sectors. Entry of new players in the Indian airspace is expected to drive the demand of TAWS equipment in order to comply with aeronautical regulations. In addition, the increased defense expenditure of China and India to strengthen their combat forces is predicted to create a massive opportunity for equipment manufacturers.

View Detailed Report at https://www.wiseguyreports.com/reports/4041879-global-terrain-awareness-and-warning-system-taws-market

Competitive Landscape

Collins Aerospace, Elbit Systems Ltd., Garmin Ltd., Thales Group, Aspen Avionics, Inc., L 3 Technologies Inc., Genesys Aerosystems, Honeywell International Inc., Mid-Continent Instrument Co., Inc., and Sandel Avionics, Inc (US), and others are notable names in the in-flight entertainment market. Among them, Honeywell International Inc., Thales Group, Collins Aerospace, and L 3 Technologies Inc. together accounted for over 75.55% of the market share in 2017.

About Us:

Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

+1 (339) 368 6938 (US)
+44 208 133 9349 (UK)