Pune, May 22, 2020 (GLOBE NEWSWIRE) — The global avionics market size is anticipated to foresee promising development by reaching USD 81.50 Billion by 2026 and exhibiting a CAGR of 7.86% between 2019 and 2026. Additionally, the market was worth USD 57.71 Billion in 2018. Fortune Business Insights, in its latest report, titled “Avionics Market Size, Share & Industry Analysis, By System (Hardware Systems (Flight Management System (FMS), Communication, Navigation, and Surveillance (CNS), Electrical System, Emergency System, Health Monitoring System, Collision Avoidance System, Weather System) and Software Systems), Platform (Commercial, Military, Business Jets, General Aviation), End-Use (OEM and Aftermarket), and Regional Forecast, 2019-2026.”, mentions that technological advancements in electronic systems will be the driving factor for market growth during the forecast period.
COVID-19 Impact on Avionics Industry:The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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What does the Report Include?The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period.Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, merger and acquisition, and collaborations adopted by the companies to maintain market stronghold between 2019 and 2026.
Drivers and Restraints:
Increasing Demand for MRO in Avionics to Augur GrowthAircraft maintenance, repair and overhaul (MRO) is a critical requirement in the aviation industry that ensures periodic inspection of the aircraft to maintain its airworthiness and safety of the travelers. Additionally, it involves supply of superior quality products and goods for the production process. It is estimated that after every 1000 flight hours the electronic instruments are replaced to ensure optimum level of working of an aircraft. With the increasing rate of air travel across the globe, the demand for MRO in aviation is anticipated to drive the growth of the market during the forecast period. MRO is witnessed as an important part of avionics that covers the inspection, repair, and overhaul service of all the avionic components. Furthermore, the advancement of technology has propelled the adoption of robots, drones, and artificial intelligence in MRO techniques that will contribute to the market growth in the forthcoming years.
Segmentation:High Demand for Hardware Systems to Promote GrowthThe segment hardware (By System) is likely to hold high market share owing to increasing demand for advanced systems for improving operational activities. The hardware system overlooks the primary navigation, complete flight planning, and route guidance of the aircraft and increasing demand for efficient operation will bode well for the market growth. Software systems, on the other hand, is likely to gain momentum backed by high demand for advanced software to maintain real-time data during the flight.Regional Analysis:North America worth USD 21.93 Billion; Increasing Demand for Aircraft in Commercial Application to Bolster GrowthAmong the regions, North America is expected to foresee massive growth and hold highest global avionics market revenue during the forecast period. In addition to this, the region of worth USD 21.93 Billion in 2018 and is anticipated to rise in the forthcoming years. This is ascribable to factors such as increasing demand for aircraft in commercial and defense application. Furthermore, presence of major aircraft manufacturers such as Curtis-Wright, Honeywell, and Esterline Technologies, among others will aid the market growth in the region. Asia-Pacific, on the other hand, is anticipated to witness growth during the projected horizon. This is attributable to factors such as steady growth of aviation industry in countries such as India and China. Moreover, high disposable income and increasing air travel in Asia-Pacific will contribute to the growth of the market between 2019 and 2026.Competitive Landscape:Contract Signings by the Companies to Drive the MarketIn March 2020, Aviage systems announced its three-year contract signing with Hainan Airlines. According to the contract, Aviage will provide avionics MRO services to the fleet of Boeing 787s that covers the inspection, total repair, and overhaul service for the integrated avionics components for the Boeing. Adoption of strategies such as contract signings, partnerships, and collaboration by the companies will positively affect the market growth during the forecast period. List of Top Companies Operating in the Avionics Market;AvilutionBAE SystemsCCX TechnologiesCobhamCollins AerospaceGarminGEHoneywell InternationalL3Harris TechnologiesMeggittNUCON AEROSPACESafranTeledyne TechnologiesThales GroupTransdigm GroupuAvionix
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Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsRecent Industry Developments – Mergers & AcquisitionsOverview of Avionics Market by Key Countries, 2018Technological Advancements in Avionics SystemsPorter Five Forces of the Global Avionics MarketSupply Chain/ Value Chain AnalysisGlobal Avionics Market Analysis, Insights and Forecast, 2015-2026Key Findings / SummaryMarket Analysis, Insights and Forecast – By SystemHardwareFlight Management System (FMS)Communication, Navigation, Surveillance (CNS)Electrical SystemEmergency SystemMission &Tactical SystemInflight Entertainment SystemHealth Monitoring SystemCollision Avoidance SystemWeather SystemSoftwareSafety-Critical Airborne SoftwareMission Flight Management SoftwareFlight Management SoftwareAircraft Health Diagnostic SoftwareTraining & Simulation SoftwareOthersMarket Analysis, Insights and Forecast – By PlatformCommercialMilitaryBusiness JetsGeneral AviationHelicoptersMarket Analysis, Insights and Forecast – By End-UseOEMAftermarketMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificRest of the WorldTOC Continued…!5G in Aviation Market Size, Share & Industry Analysis, By Platform (5G Airport and 5G Aircraft), Technology (FWA, URLLC/MMTC, and eMBB), Communication Infrastructure (Small Cell, Radio Access Network (RAN) and Distributed Antenna Systems (DAS)), 5G Services (Airport Operations, and Aircraft Operations), and Regional Forecast 2019-2026Business Jet Market Size, Share & Industry Analysis, By Aircraft Type (Light, Mid-sized, Large, and Airliner), Point of Sale (OEMs, and Aftermarket), Systems (Aerostructures, Avionics, Propulsion Systems, Aircraft Systems, Cabin Interiors, Landing Gears and others), By End User (Private and Operator), and Regional Forecast 2019-2026Small Caliber Ammunition Market Size, Share and Industry Analysis, By Caliber (223 Remington, 308 Winchester, 9mm Luger, 45 Auto/ACP, 380 ACP, 357 Magnum, 10 Gauge, 12 Gauge, 40 S&W, 20 Gauge, 22LR, 50 BMG, 6.5 Grendel, 7.62*39/54r, and Others), By Application (Commercial (Shooting Sports & Hunting, and Self-defense), Military & Homeland Security), By Bullet Type (Lead, Copper, Brass, and Others), and Regional Forecast, 2019-2026 Military Aircraft Market Size, Share & Industry Analysis, By Type (Fixed-Wing, and Rotary-Blade), By Application (Combat, Multirole Aircraft, Military Transport, Maritime Patrol, Tanker, Reconnaissance & Surveillance, and Others), By System (Airframe, Engine, Avionics, Landing Gear System, and Weapon System), and Regional Forecast, 2019-2026About UsFortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand current competitive challenges.
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Tempus Launches COVID-19-Specific Clinical and Research Initiatives for Oncology
CHICAGO, May 30, 2020 (GLOBE NEWSWIRE) — Tempus, a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare, introduced a series of offerings designed to both advance vital research and support physicians in treating cancer patients, despite the challenges of the COVID-19 pandemic. Tempus is equipping physicians with the tools they need to treat high-risk patients while limiting their exposure to the virus, with mobile phlebotomy services, on-demand virtual case reviews, and COVID-19 PCR diagnostic testing for cancer patients.
“Cancer continues to be among the leading causes of death worldwide, and now more than ever, it is critical that cancer patients continue to receive the care and treatment they need for survival despite the pandemic,” said Eric Lefkofsky, Founder and CEO. “In the last few months, we’ve quickly mobilized to create offerings that ease the burden on physicians treating cancer patients amidst the threat of COVID-19, through a series of services and tests that are badly needed to ensure therapies aren’t disrupted.”COVID-19 PCR Diagnostic Testing
Earlier this month, Tempus launched a diagnostic polymerase chain reaction (PCR) test for COVID-19. Tempus’ CAP-accredited/CLIA-certified labs in Chicago and Atlanta are supporting the acceleration of testing in the U.S., and expect to test approximately 12,000 patients daily across both labs, with the ability to scale further if needed. Tempus makes it seamless for physicians to test their patients for the virus, providing results within 24-48 hours at no cost to the patient as Tempus bills insurance directly. Mobile Phlebotomy
Tempus now offers mobile phlebotomy services, which are available to patients who require a blood draw but are too sick or unable to travel to the clinic, or do not have access to an in-office phlebotomist or draw site. Experts are able to perform blood draws in patients’ homes for any Tempus test in which a blood sample is required, at no added cost.Virtual Case Reviews
Tempus’ on-demand virtual case review system provides clinical support to physicians and care teams in a timely manner when an in-person meeting isn’t possible. Tempus’ Medical Affairs team is available to answer patient report questions in real-time in a secure portal. In addition, Tempus now offers a variety of tele-health support services specific to COVID-19 if needed.Research Collaboration
Tempus has launched a large research collaboration to structure data for up to 50,000 COVID-19 positive patients. As part of the IRB approved study, Tempus is partnering with providers to collect data on COVID-19 patients, which Tempus is structuring and de-identifying without cost. In addition, Tempus expects to perform full transcriptomic profiling of approximately 10,000 patients within the cohort. All data will be shared with all participating institutions without restriction. About Tempus
Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With one of the world’s largest libraries of clinical and molecular data, and an operating system to make that data accessible and useful, Tempus enables physicians to make real-time, data-driven decisions to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit tempus.com.Erin Carron
Tempus’ TIME Trial™ Program Reaches Critical Scale and Operational Milestones
CHICAGO, May 29, 2020 (GLOBE NEWSWIRE) — Tempus, a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare, has reached a milestone in fully enrolling 2,500 oncologists into its Tempus Integrated Molecular Evaluation (TIME) Trial™ Program that seeks to rapidly match patients largely in the community setting to targeted clinical trials. To date, Tempus has signed up over 50 provider networks, over 30 unique biomarker trials, and has rapidly opened sites onto trials in an average of 10 days. Through the TIME Trial™ Program, Tempus is bringing the very best clinical trials to communities across the country, giving thousands of patients access to novel therapeutics.
“We have experience with clinical trial rapid deployment models, however Tempus provides an unparalleled level of commitment and support in aligning all involved parties and streamlining the process, especially given the challenges of the COVID-19 pandemic,” said Dr. Julio Peguero, Director of Research of Oncology Consultants. “We ultimately met our target goal of activating this trial in just two weeks, and hope to do the same for future patients.”Last spring, Tempus launched the TIME Trial™ Program in an effort to increase clinical trial participation by using real-time clinical and molecular data to match patients to trials, and then rapidly open pre-qualified sites once a patient has been identified. Since then, Tempus has built its TIME Trial™ Network, inclusive of some of the country’s top community hospitals and academic medical centers, totaling over 50 research sites and 2,500 oncologists.As of today, the program has 30 pharma-sponsored clinical trials, covering dozens of unique, actionable biomarkers across both solid and hematological malignancies. Every week, Tempus screens thousands of new patients against the criteria of the ultra-rare trials in the TIME Trial™ Network. Thus far, Tempus has matched nearly 1,000 patients to the trials in its portfolio and averaged just under 10 days from patient screened to site activated.“Cutting-edge cancer therapies increasingly target narrower populations of patients, and the clinical trials that study these therapies require equally specific patient populations,” said Amy Franzen, Vice President of Operations and Program Lead. “Tempus is able to use its advanced technology, access to real-time data, and strong operations to get the right patients access to the right therapies, closer to home.”Tempus screens patients from sites in the TIME Trial™ Network against applicable inclusion/exclusion criteria utilizing genomic sequencing data, matched with the patients’ clinical data. Then, Tempus applies its computational algorithm to provide rapid, comprehensive matches to applicable trials that can be brought to the patient. Once a patient has been screened and matched, Tempus provides the patient’s physician with a report that ranks relevant trials. If the physician expresses interest in enrolling his or her patient in a trial, the Site and Sponsor leverage a standard contract, standard rate card, and a central IRB to rapidly open the clinical trial and enroll the patient into the study in under two weeks.For the same reason that precision medicine is now possible due to technological advances such as cost effective genomic sequencing at scale, the maturing of artificial intelligence, and the evolution of cloud technology, it is now possible to run clinical trials more efficiently and based on real-time data. Tempus is increasing the speed of clinical trials and reaching into community settings, where the majority of cancer patients are treated today.About Tempus
Tempus is a technology company advancing precision medicine through the practical application of artificial intelligence in healthcare. With one of the world’s largest libraries of clinical and molecular data, and an operating system to make that data accessible and useful, Tempus enables physicians to make real-time, data-driven decisions to deliver personalized patient care and in parallel facilitates discovery, development and delivery of optimal therapeutics. The goal is for each patient to benefit from the treatment of others who came before by providing physicians with tools that learn as the company gathers more data. For more information, visit tempus.com.
Completely Online Summer Math Camps Offered to Meet Strong Demand from Parents During COVID-19
San Diego, May 29, 2020 (GLOBE NEWSWIRE) — Parents looking for a summer camp this year may find that there are limited options due to COVID-19 social distancing guidelines. Art of Problem Solving (AoPS), a leader in math education that has prepared hundreds of thousands of students for some of the most prestigious universities, has transformed its Summer Camp activities online to create a collaborative learning and social space for children in third grade through high school. The Summer Camp activities help students develop problem solving skills through group activities in math and related subjects.Though this is the fourth year that Art of Problem Solving has offered a Summer Camp, this is the first time the organization is offering the camp experience completely online. Activities include learning how to develop cryptographic skills to protect internet security, to a class that integrates math learning as part of a poetry project that concludes with a Poetry Slam. The two-week and four-week sessions start in June and last through the summer.“As a result of the COVID-19 pandemic, many parents are seeking a summer camp experience for their children that conforms to social distancing norms while encouraging learning and collaboration,” said Richard Rusczyk, the founder of Art of Problem Solving, which has offered classes since 2003. “At Art of Problem Solving, we quickly adapted our on-campus Summer Camp experience with our online academic models. Our first-ever online Summer Camp is designed to encourage students to develop problem solving skills in a personalized and collaborative group environment.”The COVID-19 pandemic has created wider public awareness of the relevancy of math and statistics in everyday life. Rusczyk said his organization has seen that interest reflected in demand from more parents and children who see math skills as increasingly important. Also, in response to COVID-19, the company offered for a limited time a free trial to its Beast Academy program that integrates comic-style “beast” characters and exercises, puzzles and games.The Art of Problem Solving began in 1993 with a pair of textbooks for middle and high school math contest participants. Ten years later, Art of Problem Solving launched a website with an online school and full math curriculum designed for high-performing math learners. Every member of the 2015, 2016, 2018, and 2019 U.S. International Math Olympiad teams―each of which took first place in the competition―are Art of Problem Solving alumni who collectively participated in more than 110 Art of Problem Solving Online courses. The Art of Problem Solving is an ACS WASC Accredited School that offers programs online and, prior to COVID-19, at its nationwide campus locations. The organization also works with school districts to integrate their offerings as part of school math lessons.Looking beyond the immediate pandemic, problem solving skills are considered to be essential to the nation’s future workforce. As professions shift toward greater use of automation and artificial intelligence, there is expected to be an increased demand for people who have the ability to identify creative solutions and manage these developments. Critical thinking and problem solving is a top skill identified by National Association of Colleges and Employers.About Art of Problem SolvingArt of Problem Solving has successfully trained hundreds of thousands of motivated students in preparation for success at top-tier colleges and careers. Through rigorous, high-quality K-12 math curriculum, online classes and learning centers, Art of Problem Solving trains today’s brightest minds to solve tomorrow’s challenges. For additional information, visit www.artofproblemsolving.com.Jaclyn Walian
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