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In the dynamic and ever-evolving aerospace industry, staying ahead of the curve is paramount. Market research plays a crucial role in providing insights, identifying trends, and guiding strategic decisions for businesses operating in this sector. As aerospace companies navigate through technological advancements, regulatory changes, and shifting market dynamics, harnessing the power of market research becomes indispensable.

The aerospace industry is a crucial sector that includes a broad range of goods and services associated with space travel, aviation, and defense. In addition to developing technology and systems for aerospace applications, it involves the production of aircraft, spacecraft, and associated components.

Understanding Aerospace Market Research

Aerospace market research involves the systematic gathering, analysis, and interpretation of data related to various aspects of the aerospace industry. This includes market size and segmentation, competitive analysis, technological developments, regulatory frameworks, and customer preferences. By leveraging qualitative and quantitative research methodologies, aerospace companies can gain valuable insights into market trends, emerging opportunities, and potential challenges.

Satellite/Launch Manufacturing & Services : The satellite/launch manufacturing and services sector, extensively covered by BIS Research, encompasses various facets of satellite and launch operations. Given the substantial expansion of the global space market attributed to intensified initiatives by commercial space entities and space agencies, our research endeavors aim to showcase the industry's comprehensive endeavors. In-depth investigations by BIS Research delve into specific areas such as remote sensing, communication, and navigation satellites. Additionally, our studies encompass pivotal technologies influencing the entirety of the space industry, such as radiation-resistant components, space-based power systems, initiatives for space debris mitigation, and the utilization of geospatial imagery.

Key Trends in Aerospace Market Research

1. Electric and Hybrid Propulsion : There's a noticeable shift towards electric and hybrid propulsion systems in aviation. Research and development focus on sustainable alternatives to traditional fossil fuel-powered engines to reduce emissions and enhance efficiency.

2. Space Exploration and Commercialization : The growing interest in space exploration, particularly with private companies entering the domain, has led to advancements in satellite technologies, space tourism initiatives, and plans for long-duration space missions.

3. Urban Air Mobility (UAM) : UAM initiatives, including electric vertical takeoff and landing (eVTOL) aircraft and air taxis, are gaining momentum. Research focuses on infrastructure development, regulatory frameworks, and consumer acceptance for these innovative urban transportation solutions.

4. Advanced Materials and Manufacturing : Aerospace research emphasizes the development of lightweight, durable materials and advanced manufacturing techniques. This includes additive manufacturing (3D printing) for aerospace components to enhance performance and reduce production costs.

5. Data Analytics and AI Integration : Increasingly, aerospace companies are leveraging data analytics, artificial intelligence (AI), and machine learning for predictive maintenance, operational optimization, and safety enhancements across various aerospace sectors, including aviation and space exploration.

Aircraft and Drones market reports  in the Aerospace Industry

The aviation sector is undergoing substantial transformations, particularly in air transportation systems like next-gen aircraft and UAVs (Unmanned Aerial Vehicles) or drones. These changes bring forth numerous opportunities for industry participants. The integration of cutting-edge technologies such as artificial intelligence (AI), 5G connectivity, and machine learning, along with a focus on reducing environmental impact, is poised to revolutionize the capabilities of future aircraft and drones.

SpaceTech Market Research reports  in the Aerospace Industry

The swift expansion of the global space economy is fueled by escalating demands for satellite-based services in various fields like communication, navigation, and Earth observation. This growth is further propelled by heightened activities within the launch industry. BIS Research has a broad focus encompassing numerous sectors within the space industry. This includes but is not limited to satellite and launch vehicle manufacturing, covering subsystems and components, both orbital and sub-orbital launch operations, upstream and downstream services, initiatives in deep space exploration, and contributions within military space endeavors.

Conclusion

Aerospace market research plays a crucial role in guiding the dynamic aerospace industry. It offers vital insights into emerging technologies, market trends, consumer needs, and regulatory frameworks within aviation, space exploration, and defense. By analyzing these complexities, market research empowers informed decision-making, supports strategic planning, promotes sustainability, and fuels technological progress. Its significance lies in steering the aerospace sector towards enhanced efficiency, safety, and sustainability.

BIS Research tracks the changing dynamics and developments in the aerospace industry and covers market intelligence across several areas, such as aircraft, unmanned systems, airspace management, infrastructure technologies, satellites, launch vehicles, deep space exploration, ground infrastructure, and data and services.

Mobility as a Service is a comprehensive transportation concept that integrates various modes of transportation into a single, user-centric platform, often accessible through a smartphone app. It aims to simplify and enhance urban mobility by offering a seamless and interconnected experience for travelers. Users can plan, book, and pay for their entire journey, including public transit, ridesharing, bike-sharing, and more, within one app. MaaS promotes sustainable and efficient transportation options, reduces traffic congestion, and enhances the overall convenience of getting from one place to another, ultimately contributing to more sustainable and accessible urban transportation ecosystems.

The global mobility as a service market  was estimated to be at $39.23 billion in 2021, which is expected to grow with a CAGR of 25.7% and reach $379.66 billion by 2031. The growth in the global mobility as a service market is expected to be driven by rising urbanization and smart city initiatives, increasing adoption of on-demand mobility services, the growing trend of smart mobility with better in-vehicle facilities, and increasing parking problems, and emphasis on reducing CO2 emissions.

Impact of Mobility As A Service Market

• Mobility as a service (MaaS) is a futuristic modern transportation service, with a complex network of collaborators, strategists, and technicians making up the ecosystem. The on-demand insured ride with accompanying value-added features is a key aspect of this service. It also provides customers with various options, including commuting types, pricing options, service duration, driver selection, and real-time journey optimization, among others.
• Government regulations and a growing focus on smart city projects are driving the use of mobility as a service. New regulations are being drafted to stimulate the use of mobility as a service in transportation. France is at the forefront of new mobility schemes and mobility as a service model development.
• The adoption of MaaS is expected to facilitate numerous changes, such as reducing vehicles on the road, owning vehicles on a contract basis, boosting optimization, utilizing existing infrastructure for different economic scales, and reduction in personally owned vehicle expenses. For instance, carpool not only reduces the overall running cost of the vehicle through a shared operating cost of the vehicle but also reduces the number of vehicles on the roads. Additionally, the customer experience is enhanced since MaaS offers innovative and diversified modes to commuters from different economic backgrounds.

Market Growth and Dynamics

The Mobility as a Service market has witnessed exponential growth in recent years, driven by factors such as rapid urbanization, technological advancements, changing consumer preferences, and growing environmental awareness. According to various market reports, the global MaaS market size is projected to reach significant figures by the end of the forecast period, with notable growth opportunities across different regions.

One of the primary drivers of MaaS adoption is the increasing congestion and pollution levels in urban areas. By providing efficient alternatives to private car ownership, MaaS contributes to reducing traffic congestion, lowering emissions, and promoting sustainable transportation practices.

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Passenger Transportation Segment Accounts for Majority of The Market

Mobility as a service by application encompasses passenger transportation, freight transportation, and micro-mobility. Among these, the passenger and transportation segment accounted for the largest market share, with the rise in population growth in urban areas requiring an efficient and reliable way to transfer passengers from one point to another. Moreover, the growing number of users who prefer car-sharing services is also a major factor boosting the market.

China to Witness the Highest Growth in the Market During the Forecast Period (2020-2031)

The mobility as a service market holds a significant share in different regions of North America, China, and Europe, owing to the availability of fast commuting options across the regions. China is leading in the Asian market and has been investing heavily in smart transportation infrastructure and planning more investments to improve urban transportation. The demand for mobility as a service varies according to various regions, depending on the end-use application segment demand.

Competitive Landscape 

The competitive landscape of the MaaS market consists of different strategies undertaken by major players across the industry to gain market presence. Some of the strategies adopted by MaaS providers are new product launches, business expansions, partnerships, and collaborations. Among all the strategies adopted, partnership has been the most prominent strategy adopted by the MaaS providers. For instance, in April 2022, Capitello Move and MaaS Global signed a strategic partnership to launch the world's first eco-friendly mobility platform. Moreover, in June 2021, Grab, a mobility services provider, further enhanced the partnership with Hyundai to encourage utilization of MaaS and accelerate EV adoption, especially in Singapore, Indonesia, and Vietnam.

To increase their overall global footprint, MaaS providers are expanding their businesses and are also merging to increase their customer base. In March 2022, MaaS Global acquired Quicko, the leading MaaS player in Brazil. Whim and Quicko are both on a mission to transform the global transport sector by providing people in cities with a more sustainable alternative to a private car. Moreover, in January 2022, Arval and Ridecell entered into a strategic partnership. The aim is to accelerate the development of end-to-end mobility solutions for Arval's European customers.

Uber, Lyft, Ola, Grab, and BlaBlaCar are some of the leading players in the MaaS market. In June 2021, Grab, a mobility services provider, further enhanced the partnership with Hyundai to encourage utilization of MaaS and accelerate EV adoption, especially in Singapore, Indonesia, and Vietnam.

Key Questions Answered in the Report:

• What are the driving factors for the global mobility as a service market from 2020 to 2031?
• What are the major challenges and growth opportunities for MaaS within the mobility market?
• What are the impacts of the COVID-19 pandemic on this industry?
• Who are the major players, and what strategic measures have been taken to increase market penetration and market share? What are the key developmental strategies implemented by the key players to sustain in the competitive market?
• Which product type or solution will lead the global mobility as a service market by 2031?

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The evolution of vehicle engine propulsion technology, from coal-fired engines to gasoline- and electric-fired engines, has undoubtedly influenced the economy in crucial ways. Ultimately, this evolution has improved the automotive industry’s operational capabilities, including enhanced safety measures, connectivity, cost reduction, and consumer convenience. With the changing behavior of consumers as well as more stringent environmental regulations, the global automotive industry is undergoing extensive transformation.

The global on-board charger market is expected to reach $43.94 billion by 2032 from $2.16 billion in 2021, growing with a CAGR of 29.54% during the forecast period 2022-2032. Due to the rapid depletion of natural resources (especially fossil fuels), there has been a growing need for alternate energy to reduce the reliance on fossil fuels for transportation. As a result, governments, environmental agencies, and automobile manufacturers have developed alternative fuel vehicles, and consumers have accepted the electric vehicle (EV) as an alternative option, which has evolved from a niche solution into a practical choice for mobility in the 21st century. EV manufacturers are focused on developing energy-efficient, cost-effective, and compact drivetrain components, such as inverters, on-board chargers, microcontrollers, and rectifiers. An on-board charger (OBC) is a key component in any electric vehicle powertrain that manages the energy flow from a power grid to the battery inside the vehicle.

Passenger Vehicles Segment Expected to be Dominant over Commercial Vehicles throughout the Forecast Period

The use of on-board chargers is mainly categorized into two vehicle types of EVs, i.e., passenger vehicles and commercial vehicles. The passenger vehicles segment is expected to be the leading segment in the market as the sales of electric passenger vehicles are anticipated to increase globally. Commercial vehicles considered for this report consist of light electric vehicles, heavy buses, and heavy trucks. Production and sales of passenger vehicles are anticipated to be higher than commercial vehicles, as more users are rapidly adopting EVs and exchanging their IC engine vehicles for EVs due to their cost efficiency and various government subsidies, among others.

Battery Electric Vehicles (BEVs) Expected to Dominate the Global On-Board Charger Market for EVs

The global on-board charger market encompasses two major types of electric vehicles, i.e., plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs). These vehicle types are present in the form of both passenger and commercial vehicles. While PHEV models have been present in the market for many years, the development of battery technology along with government norms for increased vehicle efficiency has led to an increase in the adoption of BEVs as they are powered solely by the battery systems in the vehicle. The sales of BEVs are anticipated to increase compared to PHEVs due to the decreasing cost of such pure electric vehicles and the development of EV infrastructure in various countries. The rise of BEVs makes it more crucial for automotive OEMs to ensure that the on-board charger in the EVs can optimize the driving system.

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Unidirectional Expected to Dominate the Global On-Board Charger Market for EVs

Unidirectional on-board chargers hold a most significant market share in the global on-board charger market. The demand for bidirectional on-board chargers has increased drastically in recent years. It is owing to the different bidirectional charging options such as vehicle to grid (V2G), vehicle to load (V2L), and vehicle to vehicle (V2V). Most manufacturers in the market have already started offering different variants in the bidirectional on-board charger segment. At the end of the forecast period, more than three-fourths of the on-board chargers will be bidirectional.

Asia-Pacific and Japan to Witness Fastest Growth in Global On-Board Charger Market for EVs

The demand for on-board chargers varies according to various regions. China is currently the largest region in the on-board charger market. Increased sales of electric vehicles in Asia-Pacific and Japan countries such as India, South Korea, and Japan are expected to boost the market. Rising CO2 emissions in India and Japan have led to several concerns from the countries’ governments. Government incentives for buying electric vehicles, technological advancements, and extensive investments in the development of charging infrastructure are some major drivers propelling the market’s growth in the region.

As a result, various initiatives have been launched by the government to promote the development and adoption of electric vehicles, which are expected to reduce vehicular emissions and potentially replace petrol and diesel engines in the future. In addition, concerted efforts by both governments and manufacturers to promote the sale of electric vehicles have led to the inclusion of high-performance on-board chargers inside electric vehicles to provide better driving experiences.

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Competitive Landscape

To gain market share, major on-board charger manufacturers are making various kinds of strategic moves. Some key highlights from BIS Research w.r.t. manufacturers of on-board chargers are:

• Delta-Q Corporation, KOSTAL Automobil Elektrik GmbH & Co. KG, Robert Bosch GmbH, and BorgWarner Inc. are some leading players globally.
• Infineon Technologies AG, Texas Instruments Incorporated, and Analog Devices, Inc. are some leading players globally in Tier-2 or component/subsystem suppliers for on-board chargers.
• New product launches are the most preferred strategy.
• Apart from product launch activities, expanding business and sealing new partnerships and collaborations are the other strategies being implemented.
• Most players have tie-ups with various electric vehicle OEMs and Tier 1 suppliers.