Summary - A new market study, titled “Global Aircraft Sensor Market Research Report 2019” has been featured on WiseGuyReports.
There are many type of sensors that are used in an aircraft which are necessary for safety and security as well as for operational purpose. Modern aircraft incorporated with several different sensors for determining their operating parameters, both in the immediate sense for monitor the engine health and electronic control of performance. For Instance sensors used in engine such as propulsion and space sensor is utilized for the purpose of critical measurement for flight and engine control systems. Aircraft sensors provide efficient, reliable and cost-efficient operation for military and commercial aircrafts. Manufacturers are continuously involve in advanced sensor technologies with innovative aircraft-wide measurements that enhance the performance and safety in the toughest flight conditions.
Aircraft sensor market is anticipated to grow with a healthy pace in the forecast period, owing to increase in number of aircrafts deliveries and its productions. Air travel has increased considerably over the years, large chunk of population with high disposable income have found travelling through flights affordable paving a way for the airline carriers to increase its fleet size to cater the demand. This factor is one of the primary reason for airline carriers to order more and more aircrafts hence driving the growth of the Aircraft Sensor Market. The entire structure of aircraft along with its engines are cost intensive components, hence for the security, safety and efficient functioning, aircraft sensor are of paramount importance. This is another factor that boosts the demand for aircraft sensor in the market in the forecast period.
The aircraft sensor market is also dependent on the number of orders placed by the airline carriers for aircrafts. High number of orders can strain the productivity of aircraft OEMs hence restraining the growth of the market in the forecast period. Similarly, highly skilled personnel are required in order to install and test the sensors which can act as a roadblock to the growth of the aircraft sensor market in the forecast period.
The global Aircraft Sensor market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.
This report focuses on Aircraft Sensor volume and value at global level, regional level and company level. From a global perspective, this report represents overall Aircraft Sensor market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China and Japan.
At company level, this report focuses on the production capacity, ex-factory price, revenue and market share for each manufacturer covered in this report.
The following manufacturers are covered:
Honeywell International
TE Connectivity Corporation
UTC Aerospace Systems
Zodiac Aerospace
Ametek
Safran Electronics & Defense
Curtiss-Wright Corporation
Thales Group
Raytheon Company
General Electric
Segment by Regions
North America
Europe
China
Japan
Segment by Type
Pressure Sensor
Position Sensor
Force Sensor
Temperature Sensor
Vibration Sensor
Radar Sensor
Others
Segment by Application
Air Pressure Level Detection
Doors and Slides Locking
Flight Controls
Landing Gears
Cabin and Cargo Environment Controls
Others
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Increasing demand from applications including doors, engines, wings, landing gears, the cockpit is expected to drive the growth of the aircraft sensor market.
This market has witnessed a number of key developments by major companies including TE Connectivity Ltd, Honeywell International Inc, Meggit PLC., Thales Group, General Electric Company, and others with a focus on organic as well as inorganic growth strategies.The aircraft sensors market is expected to see exponential growth in the narrowbody aircraft sector as leading aircraft manufacturers are producing more and more narrow-body aircraft due to its increasing demand in India, China, and many other emerging countries.
On the other hand, narrow-body aircraft are low in cost and will always be preferred by low-cost airline services.The Asia Pacific is estimated to be the fastest-growing region with increasing expenditure on defense and space research.
With the presence of some of the fastest-growing economies including India and China, this region is projected to be a major market for the aircraft sensor market during the forecast period.
Market Snapshot:
The increasing usage and prominence of wireless sensors paves the ground for the global aircraft sensors market. The global aircraft manufacturers are engaged in the development of wireless sensors and the demand is amplified with the augmented deployment of structural health monitoring system that is the use of internet of things (IOT) technologies, in aircrafts.
The market for the global aircraft sensors is expected to rise at a CAGR of 6.2% during the forecast period of 2017 to 2024. The market value is expected to reach to US$2.7 billion by 2024 from US$1.9 billion in 2017.
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Market Segmentation, By Product
- Turbofan
- Turboprop
- Turbo shaft
By Application
- Commercial
- Military
- General
Commercial segment wins race against Other Applications with Greater Revenue Earnings
The world aircraft sensors market is classified into turbofan, turboprop, and turboshaft, according to product segmentation. On the basis of application, the market is segregated into three segments, commercial, military, and general. Among this segment, the commercial segment is expected to garner share of 52% market share by 2024, with market value of approximately US$1.3 billion.
All of the product and application segments of the world aircraft sensors market are studied by the analysts in terms of Y-o-Y growth, market share, and revenue comparisons for the 10-year review period.. This evaluation of the market based on the segmentation study could prove to be crucial for companies looking to advance in the market. Players could be able to foresee the potential growth of critical segments and accordingly manage their lead in the market.
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North America Listed among Most Lucrative Region while Reaping Largest Share
The North America region could also be one of the most lucrative markets for aircraft sensors as it expands at an expected CAGR of 7.0%. In 2017, it already secured a US$0.8 billion and is envisioned to grow extensively well in the coming years.
Rising at a CAGR of 6.2% over the course of the forecast period, Europe could be another attractive region of the international aircraft sensors market. The Middle East and Africa (MEA) is expected to showcase its presence in the market while bagging in a US$0.3 billion by 2024 end.
Competitive Scenario
The key players operating in the global aircraft sensors market are the Honeywell International, Inc., Zodiac Aerospace SA, AMETEK, Inc., Schneider Electric SE, General Atomics Corporation,TE Connectivity Ltd., Aerospace Systems, Curtiss-Wright Corporation, Safran SA, and Meggitt plc.
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