According to the
new market research report "Terrain
Awareness and Warning System Market by
System Type (Class A, Class B, and Class C), Engine Type (Turbine Powered, and
Pistonpowered), Application (Commercial, Military & Defence, Others), and
Geography - Global Forecasts to 2022", 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.
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.
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 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.
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.
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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