DUBLIN--(BUSINESS WIRE)--The "Aircraft Sensors Market by Connectivity, Platform (UAV, Fixed, Rotary), Sensor (Pressure, Temperature, Speed, Proximity, Gyro) Application (Engine, Door, Environmental Control), End Use (OEM, Aftermarket), and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Aircraft Sensors Market is Projected to Grow From USD 3.8 Billion in 2019 to USD 4.9 Billion by 2025
Increase in demand for new aircraft is one of the most significant factors driving the aircraft sensors market.
This growth can be attributed to factors, such as an increase in demand for aircraft, increased investments in aircraft sensors industry by private equity groups, and advancements in aircraft sensors technologies, among others. However, regulations by aviation safety agencies pertaining to aircraft sensors are anticipated to restrain the growth of this market.
Based on platform, the fixed-wing aircraft segment is estimated to account for the largest share of the aircraft sensors market in 2019.
By platform, the fixed-wing aircraft segment is estimated to account for the largest share of the aircraft sensors market in 2019. The growth of the fixed-wing aircraft segment can be attributed to the increased use of these type of aircraft in the commercial aviation sector. Furthermore, the increase in demand for low-cost carriers is one of the factors driving the demand for narrow-body aircraft, globally. According to Boeing's Current Market Outlook 2017, the global fleet size of narrow-body aircraft is expected to reach 32,280 by the end of 2035. Asia is expected to account for almost 38% of the total expected deliveries by 2035. This growth can be attributed to the increase in demand for aircraft and a rise in the adoption rate of aircraft sensors in these aircraft.
Based on connectivity, the wireless sensors segment to witness the highest growth in the aircraft sensors market from 2019 to 2025.
The wireless sensors segment is expected to grow significantly in the future due to the advantages it offers over wired sensors. In addition, increased deployment of structural health monitoring systems in aircraft, which use IoT technologies, is also expected to drive the growth of the wireless sensors segment during the forecast period.
North America is estimated to account for the largest share of the aircraft sensors market in 2019, whereas, the aircraft sensors market in Asia Pacific is projected to grow at the highest CAGR during the forecast period.
North America is estimated to account for the largest share of the aircraft sensors market in 2019. Major aircraft manufacturers, such as Boeing (US), Bombardier (Canada), Lockheed Martin (US), Bell Helicopter (US), and Sikorsky Aircraft (US), among others, are based in this region, and they witness huge demand for aircraft sensors. North America is also estimated to lead the aircraft sensors market during the forecast period, in terms of market share.
The Asia Pacific aircraft sensors market is projected to grow at the highest CAGR during the forecast period, owing to the presence of emerging aircraft manufacturers, such as COMAC (China) and Mitsubishi Aircraft Corporation (Japan), among others. Furthermore, economic growth of countries in the region, increased air travel, rise in air passenger traffic, and increased need for new aircraft are few other reasons for the growth of the aircraft sensors market in this region.
Major companies profiled in the report include Honeywell International Inc. (US), TE Connectivity Ltd. (Switzerland), AMETEK, Inc. (US), General Electric Company (US), Curtiss-Wright Corporation (US), Safran Electronic & Defense (France), Esterline Technologies Corporation (US), and Thales Group (France), among others.
Market Dynamics
Drivers
- Increasing Demand for New Aircraft Across the Globe
- Increasing Investments By Private Equity Firms in the Aircraft Sensors Market
- Advancements in Microelectromechanical Systems (MEMS) Technology
Restraints
- Regulations By Aviation Safety Agencies
Opportunities
- Increasing Adoption of Internet of Aircraft Things in the Aviation Industry
- Increasing Demand for Sensors in the Growing Unmanned Aerial Vehicles Industry
Challenges
- Cybersecurity Risks
- Growing Complexity in the Designs of Aircraft Sensors
Companies Mentioned
- Ametek, Inc.
- Crane Aerospace
- Curtiss-Wright Corporation
- Eaton Corporation
- Esterline Technologies Corporation
- General Electric Company
- Honeywell International Inc.
- Lord Sensing-Stellar Technology
- Meggitt PLC
- Safran Electronics & Defense
- TE Connectivity Ltd.
- Thales Group
- The Raytheon Company
- UTC Aerospace Systems
- Zodiac Aerospace
For more information about this report visit https://www.researchandmarkets.com/r/almtoe
