Aircraft Synthetic Vision Systems Market - Growth, Trends, and Forecasts (2020 - 2025)

The general aviation segment is growing fast, and the operations of business jets have increased primarily in the emerging economies, like India, China, Brazil, and Russia. Unlike commercial aircraft operated by airlines, business jets and charter jets operate without a schedule and sometimes even in low visibility conditions. Thus, there is a necessity for general aviation aircraft to incorporate more systems that gather flight navigation information. In general aviation, synthetic vision systems come preinstalled in most of the new aircraft. Shipments of general aviation are growing constantly. Almost 2,443 general aviation aircraft shipments were done in 2018, globally, indicating an increase of over 5%, when compared to that of 2017. Most of the general aviation aircraft come with synthetic vision systems, and the ones that do not come with inbuilt ones are now being upgraded, thereby, driving the share of the segment.

North America is a major market for aircraft synthetic vision systems, due to the regulations that necessitate airlines and aircraft owners to deploy these systems in their aircraft. Procurements of new aircraft and the presence of a large number of aircraft that use these systems are also reasons for the high market share of North America. The commercial aircraft fleet in the United States is around 7,400, which is about 2.8% more than that in 2017. Thus, the increased number of aircraft in the United States is one of the main reasons for the high market share of North America. However, the market has begun to saturate in North America, and the Asia-Pacific market is expected to rapidly grow during the forecast period. Countries, like China, India, Japan, and South Korea, are contributing majorly in this region, with both China and India procuring aircraft on large scales. China estimates that the number of aircraft may surpass 5,000 by 2020, and the country is expected to become the largest aviation market by 2023. The aviation industry is also growing at a great pace in India, and many aircraft procurement plans are underway in the country. Indian carriers plan to increase their fleet size to 800 aircraft by 2020.  On account of all these factors, Asia-Pacific, on a whole, is projected to show high growth in the future.