Active Noise and Vibration Control System Market to Fly High with Technological Advancements
The aviation industry is witnessing an exponential growth from past few years, recording a significant number of manufacturing and deliveries of both commercial and military aircrafts fleet. However, it has been observed that the aircraft producers are heavily challenged to reduce the overall weight of any aircraft. Thus, the demand for lightweight components is rising among the commercial airliners, aircraft OEMs, and military forces. The active noise and vibration control systems provide significant weight reduction capabilities as compared with its passive counterparts. Due to this characteristic, the interest among end users to adopt the technology is rising. Owing to this reason, the active noise and vibration control system market is becoming popular.
With the continuous support from the US Department of Defense (DoD), North America’s the aerospace and defense industry has become matured with the existence of largest number of manufacturers. This was the main reason that in 2019, North America accounted for the largest share in the noise and vibration control system market.
On the other side, governments of various Asian countries are implementing several initiatives to boost the railway sector in their region and noise and vibrations control systems are used to integrate into rails. Plus, now governments in the APAC are not hesitating to invest highly for the development projects in the aerospace and defense industry. These developmental transformations are creating huge demand for active noise and vibration control systems in the APAC countries. Looking at these changes, industry analysts predict that active noise and vibration control systems will grow at the fastest rate in Asia-Pacific region in next five to seven years.
Currently, various companies such as FABREEKA, Honeywell International Inc., HUTCHINSON, Terma A/S, and Moog Inc. are involved in the active noise and vibration control system market. Also, to expand the business globally, companies involved in this market are performing strategic activities such as collaborations and partnerships, mergers and acquisition, and product launches etc. For instance, last year, Faurecia acquired the majority stakes of Creo Dynamics, to combine Creo Dynamics’ competence in automotive active Noise Control and acoustics with Fauracia and deliver new unique solutions to the market.
The research report published by The Insight Partners anticipates that the active noise and vibration control system market will grow to US$ 6,505.28 million by 2027 at a CAGR of 7.0% between 2020 and 2027.
The same report also states that companies must focus on new product developments and innovations with the integration of advanced technologies and features in their products. This strategy predicted to help the involved companies to survive the competition in the market.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.