The aircraft video surveillance market in MEA is expected to grow from US$ 28.75 million in 2019 to US$ 34.08 million by 2027; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027. Escalating volumes of aircraft order and delivery is bolstering the growth of the industry. The MEA aircraft video surveillance market is displaying an upward trend for the past couple of years and it is anticipated to reflect a similar trend during the forecast period. The growth of the aircraft video surveillance market is majorly attributed to significant investments in the aerospace industry. Over the past few decades, the aviation industry has grown immensely. The growth rate of technological transformation has been outstanding, which stimulated the demand for various products and services. There is an increased adoption of aircraft video surveillance solutions in commercial aircraft owing to rise in demand for in-flight safety and security systems. Increasing number of complaints against airlines and improving regulatory standards of safety have highlighted the importance of aircraft video surveillance solutions. To improve the security level, airline companies are installing cockpit door surveillance systems to restrict unauthorized access to the cockpit area. Cabin surveillance systems are also gaining considerable growth in the market, as aircraft operators are demanding video surveillance solutions to monitor suspicious activities outside the cockpit area. Further, advancements in aircraft environmental camera systems, to offer detailed information about traffic, weather, and terrain, are supporting the market growth, which is further driving the demand for Aircraft Video Surveillance market. The surge in demand for business aircraft is among the other factors expected to positively influence the demand for aircraft video surveillance market.
The MEA aircraft video surveillance market is majorly affected by the disruption in the supply chain.Pertaining to the closure of borders of countries, the supply chain of several components and systems have been disturbed.
The demand for advanced aerospace technologies such as aircraft video surveillance systems has declined, which has resulted in a loss of business among the aircraft video surveillance market players offering their products to respective customers in the MEA region.The aftermarket players such as Emirates Engineering, Etihad Engineering, Saudia Aerospace Engineering Industries, and Turkish Technik have faced significant challenge in respective operations during lockdown phase as well as post lockdown phase.
The number of aircraft shop visits declined during the Q2 and Q3 of 2020, which resulted in substantially lesser demand for overhauling components, including video surveillance systems. Moreover, the modification and modernization activities of existing aircraft fleet in the region is paused, which is another factor behind decimation of aircraft video surveillance market.
The narrow body aircraft segment led the aircraft video surveillance in 2019.The overall MEA aircraft video surveillance market size has been derived using both primary and secondary sources.
To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.The process also serves the purpose of obtaining overview and forecast for the MEA aircraft video surveillance market with respects to all the segments pertaining to the region.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the MEA aircraft video surveillance market.
AD Aerospace Ltd., Aerial View Systems Ltd., Kappa-Optronics GmbH, Global Eagle Entertainment Inc, Collins Aerospace, Parker Hannifin Corp., BAE Systems Plc, and KID-System, are among the leading companies in the MEA aircraft video surveillance market.
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Gross Domestic Product
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