Pre-Collision Technology Market to Reach $56.56 Billion in 2024 with a CAGR of 10.8% - Global Long-term Forecasts to 2028 and 2033 [Yahoo! Finance]
Westinghouse Air Brake Technologies Corporation (WAB)
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Source: Yahoo! Finance
The global pre-collision technology market is poised for significant growth, expected to increase from $51.04 billion in 2023 to $56.56 billion in 2024, marking a sturdy 10.8% compound annual growth rate (CAGR). This robust expansion is driven by the increasing integration of advanced safety systems in automobiles, including forward collision warnings, automatic emergency braking, and other collision avoidance technologies. The continued enhancement of these systems and their adoption in the automotive safety arena contribute to a safer driving environment and a steady incline in market size. Emerging trends in the automotive industry, such as advanced driver-assistance systems, connected vehicle technologies, and autonomous vehicles, are integral to the prospective growth of the pre-collision technology market. By 2028, the market is forecasted to grow to an impressive $80.52 billion with a CAGR of 9.2%. Advancements such as sensor fusion, AI-powered collision prediction, and co
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WAB
Earnings
- 4/24/24 - Beat
WAB
Sec Filings
- 5/13/24 - Form 4
- 5/10/24 - Form 144
- 5/2/24 - Form 4
- WAB's page on the SEC website