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Global Active Noise and Vibration Control System Market Forecast to 2027 - ResearchAndMarkets.com

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The "Active Noise and Vibration Control System Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type, System, Application {Aerospace [Fixed Wing and Rotary Wing ], Defense [Ground Vehicles and Naval Vessels], Railway, and General Industries [Manufacturing and Energy]" report has been added to ResearchAndMarkets.com's offering.

According to this report the market was valued at US$ 3,925.61 million in 2019 and is projected to reach US$ 6,505.28million by 2027; it is expected to grow at a CAGR of 7.0% from 2020 to 2027.

The global active noise and vibration control system market is showcasing an upward trend from the past couple of years and is anticipated to reflect a similar trend during the forecast period. The growth of the active noise and vibration control system market is majorly attributed to significant investments in advanced technologies in the aerospace, defense, railway, manufacturing, and energy & power industry. The active systems facilitates in reducing noise and vibration along with weight. The use of smaller, lightweight components to reduce noise and vibrations in the cabin and cockpit is generating higher demand for active noise and vibration control systems. Accentuating attention toward the reduction of aircraft weight, and increasing demand of defense vehicle manufacturers for active noise and vibration control systems are among the factors fuelling the growth of the market. The increasing adoption of active systems in rail manufacturing is also fueling the active noise and vibration control system market growth.

North America and Europe are currently dominating the active noise and vibration control system market, accounting for ~37% and 28% share, respectively. The aerospace & defense sector in the US governs the overall performance of the North American aerospace industry. The US homes some of the world's prominent commercial and defense aerospace manufacturers, generating high demand for active noise and vibration control systems. Canada is among the world's top five aerospace manufacturing countries. Airbus Canada, Avcorp Industries, Bell Helicopter Textron Canada Limited, CAE Inc., and CMC Electronics are among and the significant A&D manufacturers located in Canada.

Further, Mexico has become the choice for aerospace and aviation companies looking for a cost-effective manufacturing footprint in the region. Therefore, the presence of these manufacturers across the region is one of the most prominent factors that is anticipated to boost the demand for active noise and vibration control systems in North America. The European has a diversified aeronautic industry that is engaged in the development and manufacturing of a broad spectrum of products, including aeroengine, helicopters, civil and military aircraft, and associated equipment. Furthermore, North Atlantic Treaty Organization (NATO) members, specifically France, are purposely aiming to enhance their defense spending as the US is continually inspiring NATO countries to upsurge military spending to ~2.0% of GDP. The region is emphasizing adoption of solutions that vary from military aviation to military ground vehicles and submarines, which are designed to ensure success in critical air, land, sea, and space missions.

In APAC, several countries have been undertaking complete reassessment of their defense strategies and resources owing to the rising geopolitical tensions. The aerospace sector in the region is growing due to the enormous investments for the manufacturing of commercial aerospace. According to Boeing Current Market Outlook, the region is estimated to receive 17,390 deliveries of commercial aircraft from 2019 to 2038, thus bolstering the manufacturing and procurement of active noise and vibration control systems across the region. Boeing Co. and Airbus are among the well-known aircraft manufacturers that are strongly investing in setting up their manufacturing sites in Southeast Asian countries such as Malaysia, Thailand, and Singapore, further building huge opportunities for the aerospace components sales.

Impact of COVID-19 on Active Noise and Vibration Control System market

The recent COVID-19 outbreak has significantly affected the world and it continues to shatter several countries. Until the outbreak, the industries were experiencing substantial growth in terms of production and services in respective fields. The outbreak has led governments to impose strict lockdown measures to contain the spread. This factor has had an adverse impact on the manufacturing sectors since the manufacturing facilities are either temporarily shut or allowed to operate with limited workforce. This slowed down the production rates and limited the rate of adoption among the end users, thereby reflecting negative impact on respective manufacturer's business.

Market Dynamics

Drivers

  • Accentuating Attention Towards Aircraft Weight Reduction
  • Stimulating Demand among Defense Vehicle Manufacturers

Restraint

  • Availability of Passive Systems and High Cost of Active Systems

Opportunity

  • Increasing Adoption of Active Systems in Railway Manufacturing

Future Trends

  • Technological Innovations and Commercialization to Surge the Demand

Companies Mentioned

  • Honeywell International Inc.
  • Fabreeka International Inc.
  • Moog Inc.
  • Parker Hannifin Corporation
  • Faurecia Creo AB
  • Supashock Advanced Technologies
  • Trellborg AB
  • Hutchinson
  • Terma A/S
  • Vicoda GmbH

For more information about this report visit https://www.researchandmarkets.com/r/9z23t6

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