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(IT-NEWSWIRE.COM, March 09, 2017 ) The TAWS market is expected to be worth USD 253.0 Million by 2022, growing at a CAGR of 5.8% between 2016 and 2022. The TAWS market has a huge potential across various applications such as commercial aircraft, military and defense aircraft, and other aircraft.
Browse 75 market data tables and 67 figures spread through 172 pages and in-depth TOC on "Terrain Awareness and Warning System (TAWS) Market - Global Forecasts to 2022"
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The major factor driving the TAWS market across the world is the increasing number of fleet globally and mandate to install TAWS in aircraft by the directives of aviation regulation bodies in the U.S., the U.K., and China, among many other countries.
Market for Class A TAWS is expected to grow at the highest rate between 2016 and 2022
The market for Class A TAWS is expected to grow at the highest rate between 2016 and 2022. Class A TAWS installation has reduced controlled flight into terrain (CFIT) accidents globally by providing advanced safety features. This growth can be attributed to the increasing demand for military and defense aircraft from Asia Pacific and Rest of the World.
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The market for turbine-powered aircraft is expected to grow at the highest rate between 2016 and 2022
The higher growth rate of the market for turbine-powered aircraft is attributed to the growing need for turbine engine-based aircraft in commercial and military and defense applications. The growth of the market for turbine-powered military and defense aircraft is due to the increasing demand for fighter planes, carrier planes, and military rotorcraft in countries such as the U.S., India, China, and Russia.
TAWS market for military and defense aircraft is expected to grow at the highest rate between 2016 and 2022
The higher growth rate of the military and defense aircraft globally is attributed to the growing need for safety, increasing government expenditure, and rapidly expanding inter-country conflicts as well as the terrorist activities. India and China have cumulated their defense expenditures, which has consequently driven the TAWS market for military and defense carrier planes.
Currently, North America leads the TAWS market in terms of market size
North America is currently leading the TAWS market and is estimated to be at a leading position for the next few years, owing to the high adoption of TAWS. The growth of the TAWS market in North America is because of high government funding and FAA mandates, presence of leading players, and strong technical base. The major driving factor in North America is the presence of prominent vendors of TAWS including Universal Avionics Systems Corporation (U.S.), Honeywell International Inc. (U.S.), and L3 Technologies Inc. (U.S).
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