Market Size of Commercial Aircraft Collision Avoidance System Industry
| Study Period | 2018 - 2028 |
| Market Size (2023) | USD 419.93 Million |
| Market Size (2028) | USD 527.08 Million |
| CAGR (2023 - 2028) | 4.65 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Commercial Aircraft Collision Avoidance System Market Analysis
The Commercial Aircraft Collision Avoidance System Market size is expected to grow from USD 419.93 million in 2023 to USD 527.08 million by 2028, at a CAGR of 4.65% during the forecast period (2023-2028).
- The aviation sector faced unmatched challenges due to covid-19 pandemic. The pandemic had a severe impact on the overall aviation sector due to the lockdown imposed by the government, airline shutdown, and reduced aircraft deliveries. Airbus, an aircraft OEM slowed the rate of plane making due to a loss of USD 2.09 billion in the first half of 2020. Also, the orders for new aircraft collapsed during the second quarter, as the reduced air traffic prompted airlines to cut spending commitments drastically. The market showed a strong recovery from 2021 due to increased air traffic and relaxation in government regulations.
- The enhanced safety regulations by the aviation regulatory authorities have necessitated the adoption of advanced collision avoidance systems on the existing fleet of commercial aircraft. As per the International Civil Aviation Organization (ICAO) Annex 10, Version 7.1, TCAS II is mandated by the US for commercial aircraft, including regional aircraft, with more than 30 seats or a maximum takeoff weight greater than 33,000 lbs.
- The rapid increase in global passenger traffic has encouraged airline operators to initiate procurement drives and place firm orders for new-generation aircraft. Since the installation of a collision-avoidance system is mandated as per the ICAO regulations, new aircraft deliveries may drive the prospects of line-fit installation of such equipment.
