According to the latest report by IMARC Group, titled “Multi-Mode Receiver Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global multi-mode receiver market size reached US$ 1,125.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,457.3 Million by 2028, exhibiting a growth rate (CAGR) of 4% during 2023-2028.
A multi-mode receiver, also called MMR, represents an advanced integrated navigational system that combines multiple navigation functionalities into a compact and single unit. It consists of several landing solutions, such as GPS landing system, instrument landing system (ILS), GNSS landing system (GLS), microwave landing system, etc., integrating signals from these instruments to offer higher precision. In line with this, MMR also aids the aircraft in eliminating problems associated with multipath interference while supporting advanced navigation standards, including GLS Category II or III. Consequently, it is extensively utilized in the aviation industry to enhance the navigation, landing, and positioning capabilities of aircraft. A multi-mode receiver provides an economical and efficient solution of state-of-the-art facilities with improved avionics and a new setup.
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Multi-Mode Receiver Market Trends and Drivers:
The inflating need for reducing weight, maximizing space utilization, and improving the efficiency of the aircraft is primarily driving the multi-mode receiver market. Additionally, MMR integrates numerous stand-alone receivers into one unit and enhances the safety of the aircraft while minimizing the power consumption, overall size, costs of equipment, etc., which is further catalyzing the market growth. Besides this, the rising air passenger and freight traffic and the implementation of aviation safety regulations by government bodies to encourage the installation of satellite-based augmentation systems (SBAS) are acting as significant growth-inducing factors. Moreover, the escalating demand for space-saving and lightweight multi-mode receivers is also positively influencing the global market. Apart from this, key market players are focusing on product innovations and entering into strategic partnerships to gain a competitive edge and expand their customer base, which is projected to fuel the multi-mode receiver market over the forecasted period.
Multi-Mode Receiver Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- BAE Systems plc
- Honeywell International Inc.
- Indra Sistemas S.A.
- Intelcan Technosystems Inc.
- Interface Inc.
- Leonardo S.p.A.
- Raytheon Technologies Corporation
- SAAB AB
- Thales Group
- Val Avionics Ltd
- W. Grainger Inc.
The report has segmented the market on the basis on region, fit, sub-system, platform, application.
Breakup by Fit:
Breakup by Sub-System:
- ILS Receiver
- MLS Receiver
- GLS Receiver
- VOR and DME Receiver
Breakup by Platform:
Breakup by Application:
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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