Dublin, April 11, 2023 (GLOBE NEWSWIRE) -- The "Terrain Awareness and Warning System Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027Segmented By Aircraft Type, By System, By Application, and By Region" report has been added to ResearchAndMarkets.com's offering.
The global terrain awareness and warning system (TAWS) market is anticipated to register an impressive CAGR in the forecast period, 2023-2027.
Companies Mentioned:
- Genesys Aerosystems
- Mid-Continent Instrument Co., Inc.
- Aspen Avionics, Inc.
- Universal Avionics Systems Corporation
- Rockwell Collins
- Garmin Ltd.
- Avidyne Corporation.
- L- Technologies, Inc.
- Aviation Communication & Surveillance Systems (ACSS), LLC
- Honeywell International Inc.
Factors such as the change in preference of consumers to travel via air modes owing to rapid urbanization and globalization and the availability of air tickets at cheaper rates are primarily driving the global terrain awareness and warning system (TAWS) market.
Other crucial drivers for the market are the flourishing aviation industry and supportive government policies, which are expected to accelerate the growth of the global terrain awareness and warning system (TAWS) market over the forecast period.
Flourishing Aviation Industry Drives the Market Growth
The aviation industry is witnessing massive demand from all over the globe owing to the growing disposable income of consumers and the booming tourism industry. The airlines are becoming more accessible to people due to the reduction in air ticket prices and the entry of new market players into the market.
The aviation industry supports commerce and business activities, government, education, and tourism as it provides the opportunity to reach far places in less time. Emerging economies contribute significantly to the aviation industry market growth due to many ongoing economic and commercial activities.
Also, the launch of new air routes to improve global connectivity further supports the growth of the aviation industry. Market players are developing new aircraft with higher fuel efficiency and lightweight carbon composites to manufacture aircraft that are expected to create new growth avenues for the aviation industry worldwide.
The growing aviation industry is expected to fuel the installation of terrain awareness and warning systems (TAWS) as it improves the security of the aircraft while flying by providing information in advance. Aviation industry players are focusing on enhancing aircraft security and safety measures, which is expected to boost the growth of the global terrain awareness and warning system (TAWS) market over the next five years.
High Demand from the Defense Sector Supports the Market Growth
The leading authorities of several economies have allocated huge funds for the technological up-gradation of the defense sector by investing in the purchase of new equipment and technologies and research and development activities. There is high demand for terrain awareness and warning systems (TAWS) from the defense sector to upgrade its military transport sector.
The increased adoption of TEPRROM in fighter aircraft and the huge demand for advanced fighter aircraft across the globe is expected to bolster the market growth over the forecast period. Also, the rise in the demand for precise, accurate, predictive, and reliable ground proximity warning systems is expected to provide growth opportunities to the global terrain awareness and warning system (TAWS) market in the forecast period.
Supportive Government Policies Favor the Market Growth
The government encourages the adoption of preventive measures by the aviation industry to increase the safety of passengers and aircraft crew. The terrain awareness and warning system (TAWS) warns the pilot about the possible hurdles in the path, which is a major reason for their high installation in aircraft.
Such as the Federal Aviation Administration, which operates in the United States as well as surrounding international waters, has mandated that aircraft install a Terrain awareness and warning system (TAWS) in aircraft is supporting the market demand. Government safety regulations and policies for the aviation industry are playing a major role in accelerating the market demand over the forecast period.
Report Scope:
In this report, global terrain awareness and warning system (TAWS) market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Terrain Awareness and Warning System (TAWS) Market, By Aircraft Type:
- Turbine Engine Powered
- Piston Engine Powered
Terrain Awareness and Warning System (TAWS) Market, By System:
- Class A
- Class B
- Class C
Terrain Awareness and Warning System (TAWS) Market, By Application:
- Commercial Aircraft
- Military Aircraft
- Others
Terrain Awareness and Warning System (TAWS) Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Thailand
- Indonesia
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Netherlands
- Russia
- Poland
- South America
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- Iran
- Israel
- UAE
- Turkey
For more information about this report visit https://www.researchandmarkets.com/r/ni2loy
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