CHICAGO, Aug. 11, 2020 /PRNewswire/ -- According to the new market research report "Aircraft Sensors Market by Connectivity, Platform (UAV, EVTOL, Fixed, Rotary), Sensor (Pressure, Temperature, Speed, Proximity, Gyro) Application (Engine, Door, Environmental Control), End Use (OEM, Aftermarket), Region - Global Forecast to 2025", published by MarketsandMarkets, the Aircraft Sensors Market is projected to grow from USD 3.5 billion in 2020 to USD 4.4 billion by 2025, at a CAGR of 4.8% during the forecast period. Increase in aircraft orders is one of the key factors driving the aircraft sensors market. According to the Boeing Current Market Outlook 2018, the demand for commercial aircraft will grow significantly in the future. Rising military expenditure of emerging economies will also contribute to the growth of the aircraft sensors market.
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Based on application, the flight deck & flight controls segment of the aircraft sensors market is estimated to account for the largest market share during the forecast period.
Flight deck & flight controls is expected to be the largest application segment of the aircraft sensors market during the forecast period. The rise in demand for new aircraft, high ASP of premium quality sensors used in flight deck & flight control, and increased adoption rate of these sensors in commercial passenger aircraft are expected to drive the flight deck & flight controls segment during the forecast period.
Based on platform, the UAV segment of the aircraft sensors market is projected to grow at the highest CAGR from 2020 to 2025.
Based on platform, the UAV segment is projected to grow at the highest CAGR during the forecast period. Sensors such as pressure sensors, accelerometers, flow sensors, and gyroscopes are integral components of UAVs. The increasing use of UAVs in various military applications such as monitoring, surveying & mapping, and combat operations is also contributing to the growth of the aircraft sensors market across the globe.
The wireless sensors segment of the aircraft sensors market is projected to grow at a higher CAGR from 2020 to 2025.
Based on connectivity, the wireless sensors segment of the aircraft sensors market is projected to grow at the highest CAGR during the forecast period. Wireless sensors reduce the installation and maintenance costs of sensors for an aircraft. These sensors also reduce subsystems design complexity of the aircraft. Increased deployment of structural health monitoring systems in aircraft, which use IoT technologies, is expected to drive the growth of the wireless sensors segment during the forecast period.
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North America is estimated to be the largest market for aircraft sensors in 2020.
North America is expected to lead the aircraft sensors market during the forecast period, owing to the presence of major aircraft manufacturers, such as Boeing (US), Bombardier (Canada), Lockheed Martin (US), Bell Helicopter (US), and Sikorsky Aircraft (US), coupled with the growth of the aviation industry in the region. The increasing use of military aircraft for border and maritime surveillance activities in countries such as the US and Canada is driving the growth of the aircraft sensors market in the North American region.
Key players operating in the aircraft sensors market are Honeywell International, Inc., (US), TE Connectivity Ltd. (Switzerland), Ametek, Inc. (US), General Electric Company (US), Meggitt PLC (UK), Safran Electronics & Defense (France), Woodward Inc. (US), Thales Group (France), and Zodiac Aerospace (France). These companies have well-equipped manufacturing facilities and strong distribution network across North America, Europe, and Asia Pacific.
Related Reports:
Military Sensors Market by Application (Intelligence & Reconnaissance, Communication & Navigation, Combat Operations, Electronic Warfare, Target Recognition, Command and Control, Surveillance), Platform, Component, Region - Global Forecast to 2025
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