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The collision avoidance systems industry is driven by the rising demand for commercial vehicles, owing to the expansion of the transportation sector, especially in emerging economies of the world. As an accident can cause loss of life, the safety of driver and passengers is of utmost importance. Over the forecast period, the rapid technological advancements in the automotive industry in order to bolster the safety and security of passengers are likely to be a major driving factor in the market. Moreover, the market is anticipated to be aided by factors such as the high traffic congestion, increasing number of vehicles on the road, emergence of high-speed cars, and increasing sales of electric vehicles.
In July 2019, Lockheed Martin Corporation (NYSE: LMT) announced the integration of ground collision avoidance system (Auto-GCAS) in F-35A. With this integration, F-35 fleet, having Auto-GCAS is estimated to prevent more than 26 ground collisions from happening.
In terms of region, the Asia Pacific is likely to account for a significant share in the market, owing to rising cases of car accidents due to heavy traffic congestion in countries like India and China. Furthermore, the growing demand for automated vehicles, owing to rising disposable incomes and increasing inclination towards travel and leisure activities, is likely to provide lucrative opportunities to the market in the region. The market will further be aided by the favourable government regulations towards augmenting passenger safety in the region.
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The major players in the global collision avoidance systems market are Continental AG, BorgWarner Inc., DENSO CORPORATION, Analog Devices, Inc., Infineon Technologies AG, and Panasonic Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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