Aircraft Sensors Market Opportunities Analysis and Future Outlook
The global aircraft sensors market size was valued at USD 2.23 billion in 2019 and is anticipated to grow USD 12.97 billion in 2032, exhibiting a compound annual growth rate (CAGR) of 14.50 during the 2020-2032 period. North America dominated the aircraft sensors market with a market share of 39.91% in 2019.
The aircraft sensors market is soaring to new heights as aviation technology advances rapidly, driven by the increasing demand for enhanced safety, efficiency, and connectivity in modern aircraft. With the rise of smart and autonomous aircraft, sensors have become the backbone of real-time data collection, enabling predictive maintenance, optimizing fuel efficiency, and ensuring passenger safety. The integration of IoT and AI in aviation is further propelling the market, allowing for more sophisticated sensor applications that can monitor everything from engine performance to cabin conditions. As airlines and defense sectors push towards digital transformation, the aircraft sensors market is poised for robust growth, making it a critical component of the future of aviation.
List of companies profiled in the report:
- Honeywell International, Inc. (The U.S.)
- Ametek, Inc. (The U.S.)
- General Electric Company (The U.S.)
- Meggitt PLC (The U.K.)
- Safran S.A. (France)
- Woodward Inc. (The U.S.)
- Thales Group (France)
- Zodiac Aerospace (France)
- Curtiss-Wright Corporation (The U.S.)
- Schneider Electric SE (France)
- General Atomics Corporation (The U.S.)
- The Raytheon Company (The U.S.)
- TE Connectivity (Switzerland)
- Lockheed Martin Corporation (The U.S.)
Increasing Number of Company Mergers and Acquisitions Will Provide Impetus to Market Growth
The report encompasses several factors that have contributed to the growth of the overall aircraft sensors market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. Accounting to the constantly rising demand for real-time and automated applications, tech-companies are emphasizing on the development of collaborative systems that will allow applications across diverse domains. The aerospace and defense sector holds a massive potential for companies in the aircraft sensor market. This is consequential to the favorable properties of sensors and their abilities to enhance aircraft activities. The variations in sensors have also proved beneficial of late; a factor that is attributable to the flexibility offered by various sensors in aircraft applications. Due to the rising demand and applications of aircraft sensors, there are several large companies operating in numerous countries across the world. Large scale businesses have the luxury to invest on innovations and experiments and these factors will ultimately yield attractive products. The healthy market competition will bode well for the growth of the overall aircraft sensors market in the foreseeable future.
North America to Emerge Dominant; Rising Aircraft Sensors Industry Will Aid Growth
The report analyses the latest aircraft sensors market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America is expected to emerge dominant in the coming years. The United States is a manufacturing capital of the aerospace industry due to the presence of several large scale companies in this region. The presence of numerous aircraft OEMs and sensor manufacturers will bode well for the growth of the regional market. As of 2019, the market in North America was worth USD 0.89 billion and this value is projected to increase at a considerable pace in the coming years.
The aircraft sensors market in Asia Pacific is expected to rise at the highest CAGR driven by the rising air passenger traffic and the growing aviation industry. The rising demand for newer aircraft deliveries will present several growth opportunities for the companies operating in the market. The market in Europe will rise at a considerable pace, deriving growth from high investments in UAV manufacturing and development.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessinsights.com/industry-reports/aircraft-sensors-market-101816
The Aircraft Sensors Market can be segmented as follows:
- By Sensor Type:
- Pressure Sensors
- Temperature Sensors
- Speed Sensors
- Proximity Sensors
- Position Sensors
- Flow Sensors
- Torque Sensors
- By Aircraft Type:
- Commercial Aircraft
- Military Aircraft
- Business Jets
- Helicopters
- By Application:
- Engine Monitoring
- Landing Gear
- Flight Controls
- Airframe
- Environmental Control System (ECS)
- Others
- By End-User:
- OEMs (Original Equipment Manufacturers)
- Aftermarket
- By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Industry Developments:
February 2019: Thales Group announced that it has received a contract from France’s Defense Ministry. The contract is said to be worth USD 2.3 billion and will be aimed at development of onboard radio frequency (RF) & electro-optical sensors and communication systems for 28 Rafale F-4 multirole jet fighter aircraft.
