Multi Mode Receiver Market Chances To Reach $1.3 Billion By 2025

San Francisco, 30 October 2018 - According to a report by Grand View Research, Inc., global multi-mode receiver market is anticipated to value USD 1.3 billion by 2025. Growing requirement for aircrafts equipped with modern technologies attributed to increasing air passenger traffic is anticipated to propel demand for multi-mode receiver (MMR). It is likely to enhance positioning, landing, and navigation capabilities of aircrafts. In addition, installation of MMR can overcome problems in aircrafts related to multipath interference and support advanced navigation standards such as GLS CAT II/III and WAAS LPV. This, in turn, can enhance safety factor in aircrafts.

us-mmr-market

Capability of MMR to combine various navigation functionalities into single and compact unit can fuel growth of market. It can reduce cost of ownership of equipment, power consumption, weight, and size. Favorable initiatives taken by airlines globally to modernize their aircrafts is expected to impel market growth over next few years. In addition, airlines are expected to make sure that their aircrafts can support latest technologies and emerging required navigation performance (RNP) navigation approaches. Hence, airlines are likely to invest huge on advanced navigation systems. This, in turn, can surge demand for MMR over the forecast period (2018 to 2025).

The multi-mode receiver market can be segregated on the basis of platform, fit type, and region. Based on platform, the market can be categorized into rotary wing and fixed wing. In 2016, fixed-wing segment dominated the market and is likely to grow at similar pace during the forecast period. Commercial aviation sector can primarily use narrow body aircraft and wide body aircraft to transport passengers and cargo.

Browse Research Report On Multi Mode Receiver Market : www.grandviewresearch.com/press-release/global-multi-mode-receiver-mmr-market

On the contrary, rotary wing aircraft are likely to be used for oil & gas, military, and emergency & rescue applications, where positioning capabilities and navigation are of paramount importance. High demand for turbo-powered helicopters globally can fuel growth of market from 2017 to 2021.

Based on fit type, the market can be classified into retrofit and line-fit. Continual advancements in avionics technology coupled with stringent safety regulations are likely to encourage installation of MMR in aircrafts. Growing number of retrofitting activities related to equipping aircraft with essential components to enhance its performance can drive growth of market. The segment is predicted to exhibit highest CAGR of 5.1% over the forecast period.

On the contrary, line-fit segment can depend on number of aircraft deliveries as components are installed on assembly line. The segment is likely to account for higher share as compared to retrofit segment in coming future as aircraft manufacturers continue to work on existing order backlogs and new orders simultaneously.

Regional segmentation includes Europe, North America, Asia Pacific, South America, and Middle East & Africa (MEA). In 2016, North America dominated the market and accounted for largest market share of 43% attributed to high demand for MMR among major manufacturers such as Boeing and Bombardier. It is expected to exhibit CAGR of 3.9% during the forecast period. The region is likely to be home for numerous suppliers of aircraft components. According to international trade administration (ITA), United States (U.S.) exported aircraft parts worth USD 56.2 billion in 2014.  U.S. is estimated to be one of key countries involved in international trade of aerospace products. In 2014, aircrafts parts accounted for 46% of overall aerospace exports of United States.

In Asia Pacific, the market is likely to expand at CAGR of 6.9% during the forecast period. Increasing number of aircraft deliveries in the region can fuel growth of market. In addition, rising investments in military aircrafts can fuel market growth over next few years.

Some of the leading companies offering multi-mode receiver are Rockwell Collins; BAE Systems, Leonardo S.p.A.; Honeywell International Inc.; and Thales Group. Most companies are likely to focus on strengthening their partnerships with aircraft manufacturers to win new contracts. In addition, these companies can also invest in R&D activities to develop innovative products and expand their market share. Moreover, companies can focus on necessary regulatory certifications for newly developed products to extend their geographical footprint. Strong geographical presence coupled with long-term contracts between companies involved are likely to ensure steady growth of market over the forecast period.

View more reports of this category by Grand View Research at www.grandviewresearch.com/industry/technology

Grand View Research has segmented the global multi-mode receiver (MMR) market based on platform, fit type, and region:

Multi-mode Receiver Platform Outlook (Revenue, USD Million, 2014 - 2025)
  • Fixed Wing
  • Rotary Wing
Multi-mode Receiver Fit Type Outlook (Revenue, USD Million, 2014 - 2025)
  • Line-fit
  • Retrofit
Multi-mode Receiver Regional Outlook (Revenue, USD Million, 2014 - 2025)
  • North America
  • Europe
  • Asia Pacific
  • South America
  • MEA

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information: www.grandviewresearch.com

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