The global aircraft sensors market, valued at USD 2.23 billion in 2019, is projected to soar to USD 12.97 billion by 2032, reflecting a robust compound annual growth rate (CAGR) of 14.50% from 2020 to 2032. In 2019, North America led the market, holding a dominant 39.91% share.
The aircraft sensors market is experiencing significant growth, driven by the ongoing advancements in aviation technology that prioritize enhanced safety, efficiency, and connectivity. The increasing adoption of smart and autonomous aircraft has elevated the importance of sensors as essential components for real-time data collection, which is crucial for predictive maintenance, optimizing fuel usage, and ensuring passenger safety. The integration of IoT and AI within the aviation sector is further propelling market growth, enabling advanced sensor applications that monitor various aspects, from engine performance to cabin conditions. As the aviation and defense industries continue to embrace digital transformation, the aircraft sensors market is set to play a pivotal role in shaping 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.
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https://www.fortunebusinessinsights.com/industry-reports/aircraft-sensors-market-101816
The Aircraft Sensors Market can be segmented as follows:
The Aircraft Sensors Market Segmentation is typically categorized based on sensor type, platform, application, and region.
By sensor type, the market includes pressure sensors, temperature sensors, proximity sensors, flow sensors, and others. Each sensor type serves specific functions within an aircraft, contributing to the overall performance and safety of the aircraft.
By platform, the segmentation covers commercial aviation, military aviation, business jets, and unmanned aerial vehicles (UAVs). This categorization helps in understanding the varying sensor requirements and adoption rates across different types of aircraft.
By application, the market is segmented into engine control, flight control, landing gear, airframe, and environmental control systems, among others. This segmentation highlights the diverse uses of sensors within various aircraft systems, which are critical for ensuring operational efficiency and safety.
By region, the Aircraft Sensors Market is segmented into North America, Europe, Asia-Pacific, and the rest of the world. This regional segmentation provides insights into the demand and growth patterns of aircraft sensors in different parts of the world, driven by factors such as increasing air travel, military expenditure, and advancements in aerospace technology.
This segmentation framework allows for a detailed analysis of the market, identifying key growth areas and opportunities for stakeholders.
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.