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Multi-mode receiver market to reach around USD 1221.2 million in 2028 - Credence Research

The global multi-mode receiver market generated revenue of around USD 948.6 million in 2021 and is anticipated to grow a CAGR of over 4.3% during the forecast period from 2022 to 2028 to reach around USD 1221.2 million in 2028.
A multi-mode receiver, also known as an MMR, is a sophisticated integrated navigational system that combines various navigational functions into a single, portable unit. It includes a variety of landing and navigational systems, including the Global Navigation Satellite System (GNSS), Instrument Landing System (ILS), GPS Landing System, and Microwave Landing System, integrating signals from these instruments to provide greater precision. It also helps the aircraft eliminate problems caused by multipath interference while assisting advanced navigation standards such as GLS Category II/III. MMR is, therefore, extensively used in the aviation sector to improve the aircraft's landing, navigation, and positioning capabilities.
MMR reduces the overall size, power consumption, and equipment costs while improving aircraft safety by integrating various standalone receivers into a single unit. The main driver of the global market is the expanding need to reduce weight, maximize space utilization, and increase aircraft efficiency. In addition, another significant factor that stimulates growth is the increasing demand for new and upgraded aircraft due to the increasing air freight and passenger traffic. Other factors that contribute to a positive market outlook include increasing aircraft deliveries, increasing consumer disposable incomes, rapid industrialization, and avionics advancements in technology. However, cybersecurity concerns and strict regulatory frameworks are negatively affecting the growth of the global multi-mode receiver market.
The global is bifurcated into fit, sub-system, platform, application, and geography. Based on the fit, the market is categorized into line-fit and retrofit. Based on the sub-system, the market is divided into ILS receiver, MLS receiver, GLS receiver, and VOR & DME receiver. Based on the platform, the global market is segmented into fixed-wing and rotary-wing. Based on the application, the market is categorized into navigation, positioning, and landing. The market is categorized geographically into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
North America dominated the global multi-mode receiver market in 2021, accounting for a significant market revenue share due to higher demand from major regional aircraft manufacturers, including Boeing and Bombardier. Many suppliers of aircraft parts are located in North America.
Why to Buy This Report -
The report examines the global multi-mode receiver market by segment, current trends, drivers, restraints, opportunities, challenges, and market dynamics from 2016 to 2020, with 2021 as the base year and 2022-2028 as the projected period.
The report describes the competitive environment in the market, including how major players operate at the national, regional, and international levels.
In-depth analysis of the global multi-mode receiver market segmentation by fit, sub-system, platform, and application.
The report includes comprehensive and authentic data for all factors, including CAGR, consumer purchasing trends, supply and demand, and import/export statistics for major regional countries.
The multi-mode receiver market report includes global, regional, and country-level market analysis, key market trends, major players analysis, market growth strategies, and key application areas.
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