Key Players Adopted Strategies, Such as Contracts, and Agreements, Among Others to Increase their Market Shares.
The active noise and vibration control system market was estimated at USD 2.16 Billion in 2016 and is projected to reach USD 2.93 Billion by 2022, at a CAGR of 5.15% from 2016 to 2022. Rise in aircraft deliveries and upgradation from passive to active noise and vibration control system (ANVCS) to eliminate low frequency waves (noise and vibration) is expected to drive the market during the forecast period.
ANVCS improves the performance of pilot and crew, which helps into better co-ordination among pilot and crew, by eliminating low frequency noise. The system helps to improve aircraft fuel economy by reducing engine vibrations. This is expected to fuel the demand for ANVCS from commercial and general aviation aircraft manufacturer. Key ANVCS manufacturers include Lord Corporation (U.S.), Ultra Electronics Holdings plc. (U.K.), and Moog Inc.(U.S.), among others. These companies accounted for a major share of the active noise and vibration control system market. The companies have manufacturing facilities in regions, such as North America, Europe, and Asia-Pacific. These companies adopted strategies, such as contracts, and agreements, among others to increase their market shares.
In June 2016, LORD Corporation (U.S.) received a contract from Korea Aerospace Industries (South Korea) for the development of active vibration control systems for Light Combat Helicopters (LCH). In March 2016, LORD Corporation received a contract from Korea Aerospace Industries for active vibration control system for the KUH MEDEVAC Helicopter.
Terma A/S (Denmark), another key player in the active noise and vibration control system market signed a Memorandum of Understanding with BAE Systems to explore the potential of active noise reduction and other related components in September 2013.
Related Reports:
Active Noise and Vibration Control (ANVC) System Market by Component (Hardware, Software), Application (Noise, Vibration), Platform (Commercial, Military) and Region - Global Forecast to 2022
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