Vibration Control System Market 2023 Trends, Market Share, Industry Size, Opportunities, Analysis and Forecast by 2030
Market Overview
Market Research Future (MRFR), in its recently published research report, asserts that the global vibration control system market industry 2022 market has been expected to rise at a CAGR of 5.45%, with a value of USD 5.98 billion over 2022-2030.
Drivers and Restraints
The factor boosting the market for the Vibration Control System Market Industry is that it improves the pilot's and crew's performance. In addition, the aircraft efficiency is enhanced by using an aircraft's vibration control systems, as the vibrations will damage the fuselage, windows, windshield, doors, and cargo. Thus, demand for aircraft performance enhancement is driving the vibration control systems market over the years. Moreover, less aircraft noise and vibrations can improve aircraft performance, resulting in air traffic growth as the number of passengers increases due to improved passenger comfort. As a result, the increase in air traffic is propelling the vibration control systems market to continue to expand.
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Competitive Analysis
The prominent market players operating in the global market as identified by MRFR are Dynatronic Corporation Ltd. (China), Hutchinson (France), Cooper Standard (US), Crystal Instruments (US), Spektra Schwingungstechnik Und Akustik GmbH Dresden (Germany), Sentek Dynamics Inc. (US), Lord Corporation (US), Gerb Vibration Control Systems, Inc., (US), Technical Manufacturing Corp., (US), and Müpro Services GmbH (Germany).
Segmental Analysis
The global vibration control system market industry is segmented based on system type, component, industry vertical, application, sales channel, and region.
- Based on system type, the vibration control system market industry has been segmented into vibration control, automation control, and motion control. Based on system type, the automation control system is projected to witness significant growth over the forecast period.
- Based on the component, the vibration control system market industry has been segmented into hardware and software. Based on the component, the hardware system segment is projected to grow at a significant rate during the forecast period.
- Based on industry vertical, the vibration control system market industry has been segmented into automotive, aerospace and defense, electronics, military, healthcare, and others. Segmentation based on industry verticals, aerospace, and defense segment is projected to witness moderate growth during the forecast period.
Regional Analysis
The geographical overview of the Global Vibration Control System Market Industry growth has been analyzed in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (Latin America, the Middle East, and Africa).
The growth of Asia-Pacific can be attributed to the upsurge in government schemes and subsidies to support the use of vibration control systems across the region. Due to industrialisation, mainly in China, Japan, and India, the demand for vibration control is expected to rise at the fastest rate in Asia-Pacific during the forecast period. Combined with the availability of advanced technology, the presence of significant producers and operating units of global players in this area helps the market to flourish.
North America is expected to see substantial growth in the demand for vibration management systems. The rising healthcare and aviation and defense sector in the US and Canada is facilitating the growth of North America's vibration control system market industry. The rest of the world includes the regions of LAtin America and the Middle East & Africa. South America is amid the emerging regions, integrating the technological changes in the vibration control system market industry at a rapid pace.
Countries such as Brazil and Argentina are considerably contributing to the growth of the market owing to the government initiatives, which encourage the rapid development of the automotive, oil and gas, textile, and machinery and equipment industry. The Middle East & Africa is an emerging market owing to the augmented expenditure and development of international players.
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