New Product Launch and Supply Contract are Key Growth Strategies Adopted by Market Players to Enhance Business Prospects in the Multi-Mode Receiver Market
The multi-mode receiver market is projected to grow from USD 961.5 Million in 2017 to USD 1,213.1 Million by 2022, at a CAGR of 4.76% from 2017 to 2022. The increase in global passenger traffic has boosted the demand for aircraft, which has, in turn, driven the market for multi-mode receivers.
Market players actively engaged in new product launches and supply contracts between 2012 and 2016 to achieve growth in the multi-mode receiver market. The key manufacturers of multi-mode receivers profiled in this report include Rockwell Collins, Inc. (US), BAE Systems plc (UK), Honeywell International Inc. (US), Thales Group (France), and Leonardo SpA (Italy). These companies, who account for the major share of the multi-mode receiver market, have adopted new product launch and supply contract as strategies to enhance their market shares.
Rockwell Collins operates its business through three segments, namely, information management services, government systems, and commercial systems. The company has expertise in flight deck avionics, cabin electronics, mission communications, simulation & training, and information management services. The company’s hardware, software, and services offerings encompass cabin management, communications, displays & surveillance systems, flight controls, information management services, integrated avionics mission & training solutions, navigation, and global service and support. The company mainly focuses on securing contracts and new product launches to improve its position in the multi-mode receiver market. In February 2016, Rockwell Collins was awarded a contract by Transportation Partners (Singapore) for the supply of its range of avionics systems for 201 Boeing 737 MAX. This contract can be optionally extended to additional 29 next generation Boeing 737 aircraft.
Honeywell International is a leading player in the avionics market and operates through varied business segments, which include aerospace, home & building technologies, performance materials & technologies, and safety & productivity solutions. Through the aerospace segment, the company provides aircraft engines, integrated avionics, systems and service solutions, and related products and services for aircraft manufacturers, airlines, aircraft operators, military services, and defense and space contractors. BendixKing, a subsidiary of Honeywell International, is engaged in the development of innovative, reliable, and intuitive avionics for the general aviation aircraft. The company mainly focuses on new product development and securing contracts to improve its position in the multi-mode receiver market. In 2015, Honeywell International was awarded a contract by Southwest Airlines (US) to supply Integrated Multi-Mode Receiver (IMMR) and other cockpit technologies for the airlines’ current fleet and future fleet of Boeing 737 MAX.
Related Reports:
Multi-mode Receiver Market by Platform (Fixed Wing, Rotary Wing), Fit (Line-Fit, Retrofit), Application (Navigation & Positioning, Landing), Sub-System (ILS, MLS, GLS, VOR/DME), and Region - Global Forecast to 2022
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