Asia Pacific Aircraft Video Surveillance Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by - by System Type, Fit Type, Aircraft Type, and Country

The aircraft video surveillance market in APAC is expected to grow from US$ 91.79 million in 2019 to US$ 133.55 million by 2027; it is estimated to grow at a CAGR of 6.1% from 2020 to 2027. The rising volumes of aircraft order and delivery is one of the significant factors bolstering the growth of the market. The APAC 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 COVID-19 outbreak has resulted in a massive financial loss in the APAC region. The governments in Asia Pacific countries have been continuously taking possible steps to reduce its effects by announcing lockdown and physical distancing measures (post lockdown), which has negatively affected the aircraft manufacturing sector. China is one of the leading aerospace manufacturing countries in the region and has been one of APAC's most affected countries during Q1 and Q2. Due to this, the manufacturing facilities have been witnessing severe conditions in aircraft and aircraft component manufacturing facilities. The Airbus and Boeing manufacturing facilities in China were shut down for a longer period, which resulted in low demand for various components and systems including video surveillance. Similarly, China’s indigenous aircraft manufacturer COMAC halted its production of C919 during Q1, which hampered the growth of the aircraft video surveillance market. India, Japan, and South Korea are still combating the virus outbreak. However, the countries have eased the lockdown measures, which is reflecting the restart of manufacturing facilities. Nonetheless, the remarkable lower volumes of air travel passengers have slowed down the demand for various components among the OEMs regionally and internationally. Several airlines in the region have retired their wide body jets and narrow body jets, which were prime customers of aftermarket products and services. This factor is anticipated to inhibit the aircraft video surveillance market for the next few months. For instance, Qantas retired its Boeing B747 in mid-2020 to cope with the COVID–19 pandemics’ financial pressure. Similarly, Singapore Airlines sent some of its Airbus A380 fleet for long-term storage for a similar reason. Thus, the retirement and long-term storage of wide body jets is foreseen to be creating tremors on aviation aftermarket and eventually on aircraft video surveillance market, which is majorly due to the fact that, Qantas and Singapore Airlines are among the airlines that emphasized heavily on newer technologies and installed robust systems on their fleet.

The narrow body aircraft segment led the aircraft video surveillance market in 2019. The overall Asia Pacific 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 Asia Pacific 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 Asia Pacific aircraft video surveillance market. AD Aerospace Ltd., Aerial View Systems Ltd., Kappa-Optronics GmbH, Global Eagle Entertainment Inc. Meggit Plc, Collins Aerospace, Parker Hannifin Corp., BAE Systems Plc, and KID-System are among the leading companies operating in the APAC Aircraft Video Surveillance market.

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