It was estimated prior to this unanticipated outbreak that the Helideck Monitoring System Market was likely to witness an impressive CAGR of 6.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. The escalating number of commercial vessels and ships globally and the surge in global vessel traffic and short replacement cycles of hardware components are the major factors underpinning the demand for the helideck monitoring systems during the forecast period.
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Helideck Monitoring System Market Segment Insights:
By Application Type:
The commercial segment is estimated to register a higher CAGR during the forecast period. The growth can be attributed to the increase in vessel traffic, majorly in regions such as North America and Asia-Pacific, which has immensely contributed to the surge in demand for helideck monitoring systems in the commercial segment.
By Vertical Type:
The marine segment is estimated to command the market in the coming five years, driven by the increasing maritime vessel traffic and growing trade via sea routes.
By System Type:
The hardware segment is expected to witness a higher growth during the forecast period. The key factor driving the demand for helideck monitoring systems is the early replacement of hardware components, such as motion sensors.
By End-User Type:
The aftermarket segment is estimated to depict a higher growth during the forecast period. The market is driven by the increase in demand for helideck monitoring systems owing to the short replacement cycle of components, such as motion sensors and rise in vessel traffic, especially in regions such as North America and Asia-Pacific.
By Region:
Asia-Pacific region accounted for the largest share of the helideck monitoring system market in 2018, and is expected to register the highest growth during the forecast period owing to the surge in vessel passenger traffic and military vessel induction in countries such as India, China, and Russia. The market is driven by the countries, such as Argentina, Brazil, Saudi Arabia, and the UAE, which are increasing their defense and commercial marine fleets. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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