system is expected to have leading shares on the back of improvement in
landing gear systems and IT integration coupled with constant investments
made by the key market players. The market is segmented into passenger,
cargo, private aircrafts, defense and government on the basis of the
application, out of which, the passenger segment is expected to have leading
market shares owing to the huge amount passengers that travel by the
aircrafts. It was recorded by World Bank that around 3.979 billion
passengers travelled in 2017, which is expected to increase during the
forecast period owing to low airfares and increasing disposable income.
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On the regional basis, the market is segmented into North America, Europe,
Asia-Pacific, Latin America and Middle East & Africa, out of which North
America is anticipated to have leading shares on the back of presence of key
market players and stringent government regulations followed by Europe
which is expected to witness significant market growth owing to the
increasing
investment in the aircraft
operations and equipment.
Furthermore, Asia- Pacific is expected to showcase significant growth on the
account of expansion in the aviation sector of developing countries.
Government and Airline Investments to Boost the Market Growth
The constant government investments and airline initiatives to develop the
high end landing solutions so as to provide required resources for precise
landing and take-off coupled with safety benefits attained through the use of
these systems by using intuitive display, presentation methods and improved
situation recognition speed at the time of loss of terrain awareness, loss