Autonomous Ships Car Carrier Industry Evolving Trends and key Insights by 2030

NY, USA, September-09, 2019 /Aerospace -- 

Market NEWS: Autonomous Ships Market is projected to reach $13.8 billion by 2030

The autonomous ships market is estimated to be USD 6.1 billion in 2018 and is projected to reach USD 13.8 billion by 2030, at a CAGR of 7.00% from 2018 to 2030. The factors that are expected to fuel the growth of the autonomous ships market are increasing seaborne trade, increasing compliance with maritime safety norms, and the growth in maritime tourism.

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By ship type, the commercial ships segment is expected to grow at the highest CAGR during the forecast period

Based on ship type, the commercial segment of the autonomous ships market is projected to grow at a significant CAGR during the forecast period, as different sets of autonomous ships are used in seaborne trade. This, along with increasing demand for reduced operational costs by equipping them with automation system is expected to drive the growth for autonomous ships.

Increasing demand for commercial vessels especially from Europe and Asia Pacific is expected to drive the market for linefit in autonomous ships market during the forecast period

Based on by end use, the linefit segment of the autonomous ships market is expected to grow at the highest CAGR during the forecast period. The number of new shipbuilding orders is expected to increase due to the increasing seaborne trade across the world, thus, leading to an increase in the requirement of line fit for autonomous ships.

Europe is expected to lead the autonomous ships market from 2018 to 2030

Europe is expected to exhibit the highest growth rate in the autonomous ships market during the forecast period. Although the shipbuilding industry is currently going through a slump, the growth in demand for autonomous ships and cruise ships in Europe is expected to drive the market in this region. Apart from this, countries in Scandinavia such as Norway and Denmark are investing and are at the forefront in developing autonomous vessels.

Key Market Players

The major players in the autonomous ships market include Wartsila (Finland), Kongsberg Gruppen (Norway), Northrop Grumman (US), Rolls-Royce (UK), and General Electric (US). Rolls-Royce and Kongsberg Gruppen are key market players engaged in contracts to increase the adoption of autonomous ships.

CubeSat Market - Forecast Set the Value on Present Scenario and the Growth of the Market

NY, USA, September-06, 2019 /Aerospace --

Market NEWS:  CubeSat Market worth $375 million by 2023

 The CubeSat market is projected to grow from USD 152 million in 2018 to USD 375 million by 2023, at a CAGR of 19.87% from 2018 to 2023. Exhaustive secondary research was undertaken to collect information on the CubeSat market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both, top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter market breakdown and data triangulation were used to estimate the market size of segments and sub segments.

CubeSat Market

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The global CubeSat market is projected to grow from USD 152 million in 2018 to USD 375 million by 2023, at a CAGR of 19.87% from 2018 to 2023 Some of the factors that are expected to fuel the growth of the CubeSat market are the increasing focus on reducing mission costs as well as the rise in demand for CubeSats in applications related to earth observation, communication, science, and technology. Various countries have been focusing on developing CubeSats, owing to their low cost and short development time made possible with the use of proven standard equipment and off-the-shelf components. Various commercial, as well as private ventures, have made significant investments in companies operating in the CubeSat market to capitalize on the opportunities presented through low-cost CubeSat missions related to communication, Earth observation, and science & technology, among others.

The major players in the CubeSat market include Planet Labs (US), Pumpkin Space Systems (US), GomSpace (Germany), Clyde Space (UK), Surrey Satellite Technologies (US), Sierra Nevada Corporation (US), Capella Space (US), Space Systems Loral (US), EnduroSat (Bulgaria), and CU Aerospace (US). These players have adopted various growth strategies, such as contracts, acquisitions, expansions, and partnerships/collaborations, to further expand their presence in the global CubeSat market.

Based on application, the Earth observation & traffic monitoring segment is expected to grow at the highest CAGR during the forecast period

Based on application, the Earth observation & traffic monitoring of the CubeSat market is estimated to grow at the highest CAGR in 2018, as collection of information about the Earth's physical, chemical, and biological systems by means of remote sensing technologies is continuously evolving. Over 100 countries and a similar number of organizations have formed the Group on Earth Observations, whose members are also growing annually. This group is dedicated to constructing a global platform for Earth Observation content distribution. The demand for CubeSats to carry out such Earth observation surveys is increasing, which will result in the growth of the CubeSat market in the coming years.

CubeSat Market

Based on end user, the commercial segment is expected to lead the CubeSat market from 2018 to 2023

Based on end user, the CubeSat market has been segmented into government & military, commercial, and non-profit organizations. The growth of the commercial segment can be attributed to the increased interest of the US Federal Government towards the use of commercial space services for all aspects of their missions, along with the increasing demand for high-resolution satellite imagery from commercial satellite operators.

Based on size, the 3U segment is expected to grow at the highest CAGR in the CubeSat market from 2018 to 2023

Based on size, the CubeSat market has been segmented into 0.25U to 1U, 2U, 3U, 6U, 12U and Above 12U. 3U CubeSats can be used for high precision and complex space missions, such as Earth observation, meteorology, remote sensing, maritime & transportation management, disaster management, military intelligence, and other academic purposes.

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USV Market - Evolving Industry Trends and key Insights by 2023

NY, USA, September-05, 2019 /Aerospace......

Market NEWS: "Unmanned Surface Vehicle (USV) Market Worth $1,020 Million by 2023"

The USV Market is estimated to be USD 534 million in 2018 and is projected to reach USD 1,020 million by 2023, at a CAGR of 13.8% from 2018 to 2023. Increase in demand for ISR, water quality monitoring, maritime security and threats, and the need for ocean data and mapping are the major factors that are expected to drive the unmanned surface vehicle market during the forecast period. The demand for unmanned surface vehicles is leading to the increasing interest of various manufacturers and their inclination towards investing in the unmanned surface vehicle market. Government organizations and private agencies have been investing significantly in the manufacture and development of advanced and efficient unmanned surface vehicles.

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By application, the defense segment is expected to grow at the highest CAGR during the forecast period

On the basis of application, the given market has been segmented into defense and commercial. The defense segment is projected to grow at a significant CAGR during the forecast period, because unmanned surface vehicles offer greater capacity compared to traditional equivalent systems and can be equipped with stabilized weapon systems and electro optical tracking systems. This is expected to help militaries monitor also during the night using infrared vision.

The large segment is expected to lead the unmanned surface vehicle market from 2018 to 2023

Based on size, the unmanned surface vehicle market has been segmented into small, medium, large, and extra large. The growth of the large segment can be attributed to the high-value contracts awarded to manufacturers of unmanned surface vehicles for the development of large unmanned surface vehicles, which are majorly used in defense applications, such as ISR activities, combat operations, cargo & resupply, etc.

The autonomous surface vehicle segment to grow at the higher CAGR in the unmanned surface vehicle market from 2018 to 2023

Based on mode of operation, the unmanned surface vehicle market has been segmented into remotely operated surface vehicle and autonomous surface vehicle. The growth of autonomous surface vehicle segment can be attributed to the increasing use of autonomous surface vehicles in defense and commercial applications, as these vehicles are able to conduct any commercial or military operations on their own without any human intervention. Changes in the surroundings of these vehicles are sensed by onboard sensing devices, which information is then electronically transmitted to the remotely located human operators.

The European region is expected to exhibit the highest growth rate in the unmanned surface vehicle market, and is projected to grow at the highest CAGR during the forecast period. This growth is due to the demand for unmanned surface vehicles by navies for ISR activities and oceanographic studies, along with the presence of key manufacturers, such as the ECA Group (France), ASV (UK), and Atlas Elektronik (Germany) are in the region. Atlas Elektronik accounts for the largest share with reference to the manufacture of unmanned surface vehicles in the European region.

The major players in the unmanned surface vehicle market include ASV Global (UK), Teledyne Technologies (US), Textron Inc. (US), ECA Group (France), Israel Aerospace Industries (Israel), Atlas Elektronik (Germany), SeaRobotics (US), Maritime Robotics (Norway), Elbit Systems (Israel), Rafael Advanced Defense Systems (Israel), 5G International (US), and Liquid Robotics (US), among others. ASV Global (now L3 ASV) is one of the key market players engaged in forming strategic partnerships and agreements so as to increase the adoption of USVs for commercial and defense applications by surveyors, scientific researchers, and defense organizations.

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Digital MRO Market - Trends and Opportunities for the Industry by 2030

NY, USA, September-04, 2019 /Aerospace ....

Digital MRO Market by Technology (Predictive Maintenance, AR/VR, 3D Printing, Blockchain, Artificial Intelligence, Robotics, Big Data Analytics, Digital Twin, IOT), End User (MROs, Airlines, OEMs), Application, Region - Global Forecast to 2030

The digital MRO market is projected to grow from USD 1.0 billion in 2019 to USD 4.7 billion by 2030, at a CAGR of 14.6% from 2019 to 2030. Some of the factors that are expected to fuel the growth of the digital MRO market include the increasing digitalization of MRO activities by commercial airlines and MROs and the rising demand for enhancing the repair and maintenance operations of existing aircraft fleet.

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The report provides an analysis of the digital MRO market from 2019 to 2030. It discusses industry and technology trends currently prevailing in the market, along with drivers, restraints, challenges, and opportunities that influence the growth of the market. The digital MRO market is projected to grow from USD 1.0 billion in 2019 to USD 4.7 billion by 2030, at a CAGR of 14.6% from 2019 to 2030. The digital MRO market in the North American and Asia Pacific regions is expected to witness substantial growth during the forecast period due to the increasing demand for upgrade of the legacy management information systems (MIS) to advanced MRO solutions.

Based on technology, the artificial intelligence segment is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for predictive maintenance, part failure analysis, and troubleshooting. IBM has been developing AI-based software for increasing agility in the workflow.

Based on end user, the MROs segment is projected to grow at the highest CAGR from 2019 to 2030. MROs must fulfil all the regulatory requirements while reducing the timeline and cost of aircraft maintenance. This is enhancing the demand for software solutions to smoothen the operational efficacy. Large MROs are investing in new technologies such as AI, blockchain, and digital twin to reduce maintenance cost and aircraft downtime. This, in turn, is projected to drive the MROs segment in the digital MRO market.

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The North America digital MRO market is projected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing aircraft deliveries in the region. In addition, increase in MRO services and digital transformation of MROs in the region are expected to drive the demand for digital MRO in the region. Key players such as IBM Corporation (US), IFS (Sweden), Ramco Systems (India), Rusada (Switzerland). SAP (Germany), Swiss AviationSoftware (Switzerland), Lufthansa Technik (Germany), General Electric (US), Boeing (US), and Honeywell International (US) are supplying advanced solutions for digital MRO.

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Cabin segment is projected to lead the aircraft switches market during the forecast period

NY, USA, September-03, 2019 /Aerospace -- 

Market NEWS: "Aircraft Switches Market Worth $2.6 Billion by 2025"

"Aircraft Switches Market by End-User (OEM, Aftermarket), Application (Cockpit, Cabin, Engine & APU, Aircraft Systems, Avionics), Type (Manual, Automatic), Platform (Fixed Wing, Rotary Wing), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Aircraft Switches Market is projected to grow from USD 2.2 billion in 2019 to USD 2.6 billionby 2025, at a CAGR of 3.2% during the forecast period. Increasing demand for in-flight entertainment & connectivity (IFEC) is expected to be a significant factor in driving the market.

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The automatic type segment is projected to grow at the highest CAGR during the forecast period.

The automatic switches type segment is projected to grow at the highest CAGR due to its widespread use in an aircraft's electrical system and acts as a bridge as they take small electric currents from components such as sensors to drive bigger systems.

Automatic switches contain sensors or elements that activate them through a machine motion or a physical process. They do not require human interference to be operated. They are calibrated to act automatically based on the feedback they receive. These include limit, pressure, temperature, flow, network, and relay switches.

The rotary wing segment in the platform segment is projected to grow at the highest growth rate.

The rotary wing segment is projected to witness the highest growth rate during the forecast period. Rotary wing platform includes aircraft such as helicopters that use their rotating blades to generate lift. These aircraft are used for military combat and transport purposes, as well as civilian and commercial transportation. The switches used are less than fixed wing due to the absence of a conventional cabin. The switches used are to control the avionics, lights, and battery, among other components.

North America is expected to lead the market for aircraft switches during the forecast period.

North America is estimated to account for the largest share of the aircraft switches market in 2019. The demand for commercial aircrafts is continually increasing, due to which aircraft manufacturers are expanding their product line, thereby creating a significant demand for aerospace switches. Thus, increasing aircraft orders and supplies is a significant advantage for commercial aerospace switches market in the current scenario. Moreover, the trend of upgrading the existing/older aircraft is rapidly flourishing in the current commercial aircraft industry.

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46 – Figures

161 – Pages

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Some of the major vendors in the aircraft switches market include Honeywell (US), Esterline Technologies (US), Curtiss-Wright (US), and UTC (Collins Aerospace) (US).