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According to a market report, published by Sheer Analytics and Insights, The global multi-mode receiver market was valued at $700.9 billion in 2021 and it is expected to reach $1121.1 billion at a CAGR of 4.2% between 2022 and 2032. An MMR consolidates several functions into a small space, hence lightening and expanding an aircraft. In challenging circumstances, it also helps the pilot position, navigate, and land the aircraft. The MMR market is projected to benefit from these factors. In addition, MMR reduces the total size, power consumption, and equipment costs while improving aviation safety by integrating different standalone receivers into a single unit. The main driver driving the global market is the expanding demand to lighten aircraft, make the most of available space, and increase their efficiency. A major growth-inducing element in addition to this is the increased demand for new and updated aircraft due to the increase in air passenger and freight traffic.

To promote the installation of satellite-based augmentation systems, several governments are also enacting advantageous aviation safety rules. This is accelerating the demand for the product together with the significant investments made by key companies in current research and development projects. Additionally, the pace of product acceptance is accelerating due to the rising retrofitting activities to equip aircraft with cutting-edge components to improve overall performance. These major factors are estimated to propel the market growth during the forecast period.

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Furthermore, the market for multi-mode receivers may be hampered by issues including the growing susceptibility of avionics to cyber-attacks and the strict regulatory environment. However, the increasing regulations for the use of satellite-based augmentation systems in airplanes and the expanding need for lightweight and space-saving aircraft parts are opening up several options. The market is therefore expected to experience the additional potential for growth over the next years as a result of these evolving dynamics.

The use of multi-mode receivers in the aviation sector is being fueled by some factors. Due to the increase in air routes and decrease in airfare prices, more people are choosing to travel by air these days. The demand for airplanes is increasing due to the high volume of air travelers. The complexity of simultaneously monitoring several receivers has been reduced thanks to the multi-mode receiver. This is also anticipated to propel the multi-mode receiver market's overall growth on a global scale.

Some new developments in the global multi-mode receiver market:

• Prodigy multi-device keyboard and Blade Bold Mouse with Auto Sleep feature were introduced by ZOOOK. Furthermore, the computer accessory business has always been perceived as being quite black and white. However, we recognize the demand for vibrancy among our youthful customers and provide it.  

• Sx more GPS, infrared, and radar-homing LRASM anti-ship missiles will be produced by Lockheed Martin. The launch aircraft of the LRASM may direct the missile toward hostile ships up to 200 nautical miles distant. To locate and eliminate significant targets within fleets of ships at sea, the missile makes use of a multi-mode sensor suite, weapon data connection, and upgraded digital anti-jam GPS.

• Marine Corps of Japan launched remote-controlled airplane surveillance. The craft will be operated by the pilots using the onboard cameras and sensors from a ground control station at the guard base. They claimed that the craft could fly for up to 24 hours straight in any kind of weather.                                                                     

According to the study, key players dominating the global multi-mode receiver market are BAE Systems (U.K), Honeywell International (U.S), Intelcan Technosystems (Canada), Indra Sistemas S.A (Spain), Leonardo (Italy), Raytheon Technologies (U.S), SAAB AB (Sweden), Systems Interface Ltd (U.K), Thales Group (France), Val Avionics (U.S), W.W. Grainger (U.S), among others.

The Global Multi-Mode Receiver Market Has Been Segmented Into:

The Global Multi-Mode Receiver Market – by Platform Type:    

• Fixed-Wing
• Rotary-Wing
• Others

The Global Multi-Mode Receiver Market – by Fit Type:

• Line-Fit
• Retrofit
• Others

The Global Multi-Mode Receiver Market – by Regions:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The U.K.
  • France
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Australia
  • Rest of Asia Pacific
• LAMEA
• Middle East
  • Saudi Arabia
  • UAE
  • Others
• Latin America
  • Brazil
  • Chile
  • Others
• Africa
  • South Africa
  • Egypt
  • Other

Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/multi-mode-receiver-market-21

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