Helicopters Market Key Trends And Opportunity Areas by Leading Players

The military sector of developing countries, such as India and China, is focusing on replacing its aging helicopter fleet, owing to which aerospace companies from the West are introducing their offerings in such countries. The replacement of old helicopters with new ones will help in reducing terrorism activities on international borders and domestic territory, by helping in more-effective patrolling and attack missions. Thus, the surging number of anti-terrorism activities in emerging economies will boost the deployment of military helicopters here.

In addition, the burgeoning demand for helicopters equipped with state-of-the-art technologies will drive the helicopters market at a CAGR of 3.4% during the forecast period (2017–2023). According to P&S Intelligence, the market was valued at $25.3 billion in 2016, and it is expected to generate over $31.8 billion revenue by 2023. Over the years, several technological advancements have been implemented in the engine, airframe, and emission systems of helicopters. These developments have resulted in the creation of more-resilient and sustainable helicopters that can operate in varying environmental conditions.

These helicopters are manufactured by Russian Helicopters JSC, The Boeing Company, Robinson Helicopter Co., MD Helicopters Inc., Lockheed Martin Corp., Hindustan Aeronautics Ltd., Airbus SE, Kaman Corp., Leonardo S.p.A., MD Helicopters Inc., Textron Inc., and Bell Textron Inc. At present, these companies are introducing new products and engaging in collaborations to offer their helicopters to more clients. For example, in April 2017, Airbus Helicopters signed an exclusive cooperation agreement with IAR Brasov for the H215M helicopter. With this agreement, IAR Brasov has become the primary contractor for the H215M helicopter for any future need of the Ministry of National Defence of Romania.

Geographically, North America held the largest share in the helicopters market in 2016, and it is projected to retain its dominance throughout the forecast period. This can be credited to the increasing exploration and production (E&P) activities propelling the deployment of helicopters in the oil and gas industry. Whereas, Latin America (LATAM) is expected to witness the fastest growth during the forecast period. LATAM countries, such as Brazil and Mexico, are extensively deploying civil helicopters in their fleets.

Thus, the rising technological advancements in helicopters and the surging focus of developing countries on replacing aging helicopters with new ones will fuel the production of such airborne vehicles worldwide.

Why is Electric Vehicle Industry Booming?

The COVID-19 pandemic has massively hampered the progress of the global electric vehicle (EV) industry. As a result, the industry fell by nearly 15% in 2020 in comparison to the sales recorded in 2019. Moreover, electric vehicle sales fell to 1.8 million units in 2020 from the 2.1 million units recorded in 2019, and the market recorded a decline of 43% in comparison to the forecast done for 2020 before the pandemic. 

This is attributed to the sharp fall in vehicle manufacturing and sales, due to the imposition of lockdowns and restrictions on mobility in several countries. However, the impact of these lockdowns has been less severe on the electric vehicle industry, with the market recording a reduction in its gross value added (GVA) by 14–16% (automobile production) in 2020. China, which is the biggest EV market in the world, recorded a sharp decline in EV sales because of the pandemic.

In the country, the decline in EV sales was the largest in February, with car sales dropping to 16,000 units, and recording a fall of nearly 60% from the number recorded in February 2019. However, the sales picked up sharply during April and reached nearly 80% of the April 2019 number. Furthermore, the sales of plug-in cars were down by 32% in May 2020 in comparison to the previous year. 

It is expected that the Chinese EV industry will see an overall fall of 14% in 2020. The COVID-19 impact on the EV industry in the U.S. has been quite severe. The lockdown measures have been hugely unsuccessful in controlling the spread of the virus, and thus, the demand for electric vehicles fell steeply in 2020. However, the industry is exhibiting strong growth in the European region, even during the pandemic. 

In many European countries such as the U.K., Germany, Italy, and France, COVID-19 impact on the EV industry has been quite positive, with EV sales rising to more than 145 thousand units in the first four months of 2020, and recording an increment of around 90% from the number reported in 2019. In Norway, EV sales during the first four months of 2020 remained the same as in 2019, as per the observations of the market research company, P&S Intelligence.

In Germany, the government announced increment in electric vehicle purchase subsidies in February 2020. In Italy, the sales of electric cars grew considerably, on account of the system launched in the country in 2019. One major way in which the COVID-19 impact on the EV industry is visible is that it has made many EV market players and industry stakeholders re-examine their plans and strategies and prepare accordingly for the auto industry’s long- and medium-term growth. 

Moreover, the sales of EV will shoot up in the post-COVID world, as people will prefer using personal vehicles over shared cabs or public transport. Many major players operating in the electric vehicle industry such as BYD Company Ltd., Tesla, Inc., General Motors Company, and Toyota Motor Corporation are increasingly focusing on taking measures such as conducting regular sanitization of the workstations and within the factor premises, ensuring the delivery of sanitized products, and maintaining social distancing with the dealerships.

Digital Freight Forwarding Market Statistics, Development and Growth 2030

With the burgeoning requirement for freight safety and time-controlled deliveries, surge in global and domestic trade, and increasing adoption of smart technologies such as artificial intelligence (AI), big data analytical solutions, and internet of things (IoT), the demand for digital freight forwarding is rising sharply across the world. Big data analytics and other enterprise management suites (ERP) are used for handling many complex tasks and operations, thereby recuing the dependency on human work, which often leads to operation delays, miscalculations, and inefficiencies. 

Moreover, with the growing demand for greater accuracy in product deliveries, shorter delivery time periods, and higher effectiveness of freight operations, the adoption of advanced technologies is surging in the industry. This is subsequently driving the growth of the global digital freight forwarding market. DHL International GmbH, J.B. Hunt Transport Services Inc., Schneider National, UTi Worldwide, C.H. Robinson Worldwide, Inc., and Descartes are some of the major digital freight forwarders across the world. These organizations are actively focusing on reducing the reliance of human workers for contacting carriers, scheduling deliveries, controlling fleet operations, and negotiating rates.

Forwarders, shippers, carriers, brokers, and third-party logistics (3PLs) are the major end users of digital freight forwarding solutions. Out of these, the adoption of these solutions is predicted to be the highest by 3PLs in the coming years. This will be due to the fact that 3PLs hold an important position in the overall supply chain, as they incorporate the operations of transportation and warehousing services in order to cater to the customer requirements and meet the market conditions. 

Road freight, air freight, ocean freight, and rail freight are the major modes via which digital freight forwarding solutions are deployed. Out of these, the demand for the ocean freight modes is predicted to explode in the coming years, primarily because of the fact that a majority of the worldwide trade takes place through oceans and seas. However, the popularity of the air freight mode will also surge in the upcoming years, owing to the growing requirement for brisk product delivery speeds, on account of the soaring e-commerce sales.

Across the world, the demand for digital freight forwarding solutions was the highest in North America in 2019, as per the findings of P&S Intelligence, a market research company based in India. This is ascribed to the fact that the U.S. is the global leader in international trade. Additionally, many digital freight forwarders are based out of North America. However, the digital freight forwarding market is also predicted to register the fastest growth in Asia-Pacific (APAC) in the upcoming years, because of the presence of special economic zones (SEZ) and the expansion of manufacturing bases in the region.

Hence, it is safe to say that the demand for digital freight forwarding solutions will soar in the years to come, primarily because of the booming international and domestic trade and soaring e-commerce sales all over the world. 

Automotive Camera Module Market: What are the Key Growth Factors?

The Global New Car Assessment Programme (Global NACP) launched by the Towards Zero Foundation aims to create a world that is free from road fatalities and serious injuries. This programme supports the democratization of vehicle safety by encouraging the adoption of advanced automotive designs and technologies across the world. Additionally, NACP also aspires to promote the deployment of vehicle safety technologies with proven effectiveness by increasing public awareness regarding such features and supporting their mandatory application. To comply with the safety standards of this programme, automakers are increasingly integrating automotive camera modules in their offerings.

Additionally, the accelerating demand for autonomous and luxury vehicles will also contribute to the progress of the automotive camera module market during 2020–2030. According to the Autonomous Vehicle Implementation Predictions: Implications for Transport Planning, published by the Victoria Transportation Policy Institute, autonomous vehicles will be reliable and safe by 2025 and maybe commercially available in several parts of the world by 2030. As per this report, at least half of the new vehicles will be autonomous by 2045.

Automotive camera modules offered by Hyundai Mobis Co. Ltd., Magna International Inc., STONKAM Co. Ltd., OmniVision Technologies Inc., DENSO Corporation, Autoliv Inc., Robert Bosch GmbH, Clarion Co. Ltd., and Valeo SA are used for lane departure warning (LDW), autonomous emergency braking (AEB), adaptive cruise control (ACC), blind spot detection (BSD), and park assist (PA) applications in vehicles. Camera modules being manufactured by these companies are based on digital, infrared, and thermal technologies. In the coming years, thermal cameras will be integrated at the highest rate, due to their surging use in night vision systems.

According to P&S Intelligence, North America will dominate the automotive camera module market in the forthcoming years, due to the booming demand for luxury vehicles and increasing installation of ADAS in passenger cars and commercial vehicles in the region. Whereas, the European region is expected to emerge as the second-largest consumer of automotive camera modules in the upcoming years. This will be due to the surging implementation of government regulations that encourage the installation of safety features and ADAS in automobiles, primarily in passenger cars.

Thus, the soaring prevalence of road accidents and burgeoning demand for autonomous and luxury vehicles will propel the usage of automotive camera modules in the coming years.

Boom Expected in India Automotive HMI Market in Future

The burgeoning requirement for in-vehicle connectivity is fueling the demand for automotive HMI in India. Nowadays, people want to stay connected with the outer world, even while traveling. Moreover, automobiles are increasingly becoming more connected with the outer world via cloud services. Due to the changing customer preferences, automotive manufacturing companies are launching partnerships with consumer electronic or information technology (IT) vendors in order to integrate in-vehicle connectivity features in their offerings.

For instance, AirWire Technologies, which is a U.S. based company, received a contract from Reliance Jio Infocom Ltd., which is a telecom operator in India, for manufacturing connected car devices. Additionally, Reliance Jio Infocom Ltd. is currently in talks with leading automobile manufacturers— Hyundai Motor India and Maruti Suzuki India Ltd.— for installing connected car devices in their passenger vehicles. The incorporation of these devices in passenger vehicles will allow passengers to access services such as entertainment, telematics, location-based apps, and WiFi hotspot. 

Increasing installation of these features is driving the demand for HMIs, as these devices are required for displaying the information and enabling smoother interaction of users with in-vehicle connectivity systems. These factors are fueling the expansion of the Indian automotive HMI market. Additionally, the soaring sales of vehicles in the country, on account of the booming population and increasing urbanization rate, are also driving the growth of the Indian automotive HMI market. According to the India Brand Equity Foundation (IBEF), the sales of automobiles grew in the country at a CAGR of 1.29% from FY16 to FY20 and reached 21.55 million units in FY20.

Hence, it can be said without any hesitation that the demand for automotive HMI systems will surge in India in the coming years, mainly because of the rising requirement for in-vehicle connectivity features and the soaring sales of premium cars in the country.

What are Factors Pushing Up Demand for Artificial Intelligence in Transportation in APAC?

The advent of autonomous vehicles has led to the wide-scale integration of artificial intelligence (AI) technology in the transportation sector. AI is a primary technology for autonomous driving systems, as it is the only technology that allows real-time and reliable identification of objects around the vehicle. Owing to the burgeoning demand for autonomous vehicles, leading automotive original equipment manufacturers (OEMs) are making hefty investments in the advancement of autonomous technology for optimizing self-driving technology.

Moreover, the soaring focus of transportation companies on reducing their operational costs will help the AI in transportation market advance at a CAGR of 16.5% during 2018–2023. The market was valued at $1.4 billion in 2017 and it is expected to reach $3.5 billion revenue by 2023. The integration of AI solutions aids in reducing costs and improves the operations of such companies. Additionally, the adoption of AI-enabled solutions, such as adaptive cruise control (ACC) systems and auto emergency braking (AEB) systems helps in reducing driver fatigue and preventing potential road accidents, thereby saving lives and curtailing product delivery times.

Besides, the increasing adoption of truck platooning will also fuel the integration of AI technology in the transportation sector in the coming years. Platooning is extremely necessary for achieving the objective of autonomous driving, and it offers several advantages such as curtailment in emission rates, reduction in fuel consumption, and improvement in safety features. In recent years, many countries have taken several initiatives to allow truck platooning to make road transport cleaner, safer, and more efficient in the future.

Therefore, with the escalating focus of governments and transportation companies on road safety, automotive OEMs, such as Scania Group, Continental AG, Volvo Group, Intel Corp., Daimler AG, NVIDIA Corp., Robert Bosch GmbH, PACCAR Inc., and Valeo SA are increasingly integrating AI solutions in their vehicles. To offer advanced technologies to their customers, such OEMs are primarily focusing on partnerships and establishing new research centers. For instance, in February 2018, NVIDIA Corp. and Continental AG announced a partnership to develop AI-supported self-driving vehicle systems based on the NVIDIA DRIVE platform, for level 3 autonomous vehicles. 

According to P&S Intelligence, North America will dominate the AI in transportation market in the foreseeable future, owing to the extensive sales of premium trucks in the region. The increasing regulatory developments related to compliance, safety, and accountability (CSA) and mounting investments being made in autonomous trucks in the U.S. will fuel the adoption of AI in the North American transportation sector in the coming years. For instance, the Automated Vehicles Comprehensive Plan developed by the U.S. Department of Transportation (USDOT) aims to prepare the country’s transportation system, promote collaborations and transparency, and modernize the regulatory environment.

Whereas, Asia-Pacific (APAC) is expected to integrate AI in the transportation sector at the fastest pace in the forthcoming years. This can be primarily attributed to the highest sales of trucks in the region and the rapid use of AI solutions in transportation in China and Japan. In the coming years, the transportation industry of Japan will adopt AI solutions at the highest rate, due to the maturing truck market of the country. Furthermore, China is also expected to integrate AI features in the trucks at a significant rate, owing to the growing digitization in the transport sector of the country. 

Thus, the rising focus of transportation companies and governments on reducing operational costs and surging adoption of truck platooning will augment the integration of AI technology in the transportation sector in the foreseeable future.

Used Car Market to Record CAGR of 8.7% and Increase in Revenue by 2030

With the increasing lifespan of vehicles and the falling demand for new automobiles, the sales of used cars are rising sharply across the world. Moreover, the surging popularity of e-commerce and online technologies, on account of the growing penetration of the internet, has massively propelled the sales of used cars in several countries. According to the World Bank, around 49.0% of the people all over the world were using the internet in 2017. The e-commerce platforms are allowing used car owners and dealers to advertise their automobiles and raise public awareness about these vehicles.

This not only smoothens the overall sales process but also enables a greater number of stakeholders to buy and sell cars online. Besides, the entry of organized dealers in the used car market has also contributed massively toward the booming sales of used cars. In countries such as India, Mexico, Brazil, and China, unorganized sellers have always dominated the industry. Traditionally, the primary stakeholders were individuals instead of organizations, which made it very difficult to establish trust between buyers and sellers. 

Geographically, the sales of used cars were observed to be the highest in North America during the last few years. Whereas, the demand for these cars is predicted to explode in the Latin America, Middle East, & Africa (LAMEA) region in the coming years. This will be because of the booming manufacturing of automobiles and surging disposable income of people in developing countries such as Mexico, Argentina, and Brazil. Furthermore, many unorganized sellers are conducting their operations in Middle Eastern countries such as the U.A.E.

Hence, it is safe to say that the sales of used cars will shoot up in the coming years, primarily because of the growing operations of organized sellers and the surging popularity of e-commerce and online platforms all over the world.