PUNE, India, July 25, 2017 /PRNewswire/ --
The report "Multi-mode Receiver Market by Platform (Fixed Wing, Rotary Wing), Fit (Line-Fit, Retrofit), Application (Navigation & Positioning, Landing), Sub-System (ILS, MLS, GLS, VOR/DME), and Region - Global Forecast to 2022", published by MarketsandMarkets', the Multi-Mode Receiver Market is projected to grow from USD 961.5 Million in 2017 to USD 1,213.1 Million by 2022, at a CAGR of 4.76% from 2017 to 2022. Increasing aircraft deliveries across the globe owing to the rise in air passenger traffic is expected to drive the growth of the multi-mode receiver market.
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Browse70 Market Data Tables and47 Figures spread through133 Pages and in-depth TOC on"Multi-mode Receiver Market - Global Forecast to 2022"
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The fixed wing platform segment is projected to grow at the highest CAGR during the forecast period
Based on platform, the fixed wing segment of the multi-mode receiver market is projected to grow at the highest CAGR from 2017 to 2022, owing to the increasing demand for narrow body and wide body aircraft from different airlines. These aircraft are fitted with multi-mode receivers to help the pilots in navigating, positioning, and landing of the aircraft.
The retrofit segment is projected to grow at the highest CAGR during the forecast period
Based on fit, the retrofit segment is projected to witness the highest growth during the forecast period. The anticipated high growth rate of this segment is due to regulations that make multi-mode receiver a mandatory feature in any aircraft. The increasing aircraft retrofit activities are also expected to fuel this segment's growth.
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Asia Pacific is projected to be the fastest-growing market for multi-mode receivers during the forecast period
The multi-mode receiver market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the high air passenger traffic, leading to an increase in the number of aircraft deliveries in this region. Increasing demand for air travel due to decreasing travel cost and increasing number of air routes has led to the increase in passenger traffic.
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Major players operating in the multi-mode receiver market include Honeywell International Inc. (US), BAE Systems plc (UK), Rockwell Collins, Inc. (US), Leonardo SpA (Italy), Thales Group (France), Saab AB (Sweden), Intelcan Technosystems Inc. (Canada), Indra Sistemas SA (Spain), VAL Avionics Ltd. (US), and Systems Interface Ltd. (UK).
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