Global Aircraft Video Surveillance Market 2022 Research report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Aircraft Video Surveillance in these regions, from 2022 to 2027 (forecast), covering North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.
The aircraft video surveillance market was valued at US$ 472.75 million in 2019 and is projected to reach US$ 630.52 million by 2027; it is expected to grow at a CAGR of 4.9% from 2020 to 2027.
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The aviation industry is continuously developing new solutions to enhance in-flight security and safety levels for passengers and crew members. Rising demand for video surveillance solutions to provide a thorough overview of aircraft to the operator is propelling the aircraft video surveillance market growth. Further, surge in number of business aircraft is creating a new opportunity for the market players to develop efficient aircraft video surveillance systems. Growing demand for small and narrow-body aircraft fleet from developing as well as developed nations is propelling the market growth. Rising number of customers service complaints against airlines and regulatory requirements are mounting the demand for aircraft video surveillance systems. Airline companies are installing video surveillance systems to monitor the passenger cabin area for disruptive or suspicious activities. These surveillance systems can be used as an evidence for prosecution, such as the video footage will help to visualize the incident for better understanding.
Key vendors engaged in the Aircraft Video Surveillance market and covered in this report:
AD Aerospace Ltd., Aerial View Systems Inc., Cabin Avionics Ltd, Kappa Optronics GmbH, Global Eagle Entertainment Inc, Meggitt PLC, Collins Aerospace, a Raytheon Technologies Company, Parker Hannifin Corporation, BAE Systems plc, KID-Systeme GmbH
Impact of COVID-19 Pandemic on Aircraft Video Surveillance Market:
The recent outbreak of the COVID-19 has significantly affected the world and is continuing to shatter several countries. Until the outbreak of COVID–19, the aerospace industry was experiencing substantial growth in terms of production. Despite huge backlogs from the aircraft manufacturers, the global aviation industry witnessed a significant rise in the number of passenger counts and an increase in aircraft procurement. Unfortunately, the COVID-19 outbreaks have decimated the demand for aircraft globally, which reflected lower volumes of orders among the aircraft manufacturers, resulting in lower number of productions. The decline in production volumes adversely affected the businesses of various component manufacturers and associated technologies. Thus, the businesses of aircraft video surveillance market players have been severely affected by destabilization in aircraft production.
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Rising Demand for Business Aircraft Fuels Growth of Aircraft Video Surveillance Market:
The business aviation sector is experiencing a significant rise in aircraft demand with an increasing number of corporate passengers. Business aviation is becoming a new tool for corporate development and growth strategy for enterprises. According to Dassault Aviation, more than 17,000 business jets are offering services for customers across the world. The US holds two-thirds of the fleet, and countries—such as Russia, China, and India—are experiencing a double-digit growth rate from the past few years. The benefits of business aircraft—such as confidentiality of travel, security, multiple stopovers, flexibility in terms of arrival and departure time, and time-saving by reducing multiple security checks—are among major factors driving the business aviation sector. With the rising production of business jets, the demand for video surveillance solutions is also increasing. Video surveillance systems are being deployed in business aircraft to enhance situational awareness and record incidents for analysis. Further, the solution is offering security benefits to flight crew and passengers by mounting cameras into the cockpit door, aircraft exteriors, and cabins. Collins Aerospace offers cabin video systems and Meggitt PLC offers aircraft cameras. Such video surveillance solutions are enhancing the security level in aircraft. The business aviation sector experienced a lesser impact of the COVID-19 pandemic as around 80% of operators surveyed by Honeywell International Inc. have no change in purchase plans. The company further predicted that up to 7,300 new business jet deliveries are expected during the 2021 to 2030 period and they would be worth US$ 235 billion. This, in turn, is creating a new growth opportunity for the aircraft video surveillance market. Even during the COVID-19 pandemic, the demand for business jets remains unchanged in North America. Hence, the business aviation sector is creating a new opportunity for the aircraft video surveillance market
System Type-Based Market Insights:
Based on system type, the aircraft video surveillance market is further segmented into cockpit door surveillance system, cabin surveillance system, and environmental camera system. In 2019, the cockpit door surveillance system segment accounted for a significant share in the global aircraft video surveillance market.
Fit Type-Based Market Insights:
Based on fit type, the aircraft video surveillance market is further segmented into retrofit and line fit. In 2019, the line fit segment accounted for a significant share in the global aircraft video surveillance market.
Aircraft Type-Based Market Insights:
Based on aircraft type, the aircraft video surveillance market is further segmented into wide body aircraft and narrow body aircraft. In 2019, the narrow body aircraft segment accounted for a significant share in the global aircraft video surveillance market.
The players operating in the aircraft video surveillance market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
In 2021, Aerion and Latécoère joined forces to develop video surveillance system for the business jet, AS2 supersonic. The production of AS2 supersonic will commence in 2023 in Aerion Park, FL, the US and the video surveillance system will feature high-definition camera with integrated artificial intelligence.
In 2019, AD Aerospace Ltd. signed a contract with Boeing, under which the company will provide 16 cameras, and aerospace server for the Boeing 747 Dreamlifter fleet, which is responsible for transit of B787 Dreamliner structural parts from and to manufacturing sites around the globe.
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