Aircraft Sensors Market Forecast and Opportunity Assessment till 2028

The Aircraft Sensors Market report published by Stratview Research offers wide-ranging analysis of key growth strategies, drivers, opportunities, key segments, and competitive landscape, etc. This detailed study is a useful source of information for prominent market players, new entrants, investors, and stakeholders to gain a thorough understanding of the market and determine measures to be taken to gain a competitive advantage.

Market Insights

The aircraft sensors market is likely to grow at a promising CAGR of 10.5% in the long run to reach US$ 2.2 billion in 2028.

Market Dynamics

The demand for sensors in the aircraft industry is highly subject to the production of aircraft. The industry had been witnessing excellent growth till 2018. After 2018, the industry faced several setbacks one after another and is still under the water and making efforts to bring back its growth trajectory. Among several setbacks, the COVID-19 pandemic proved to be the most devastating and shook the industry to the core. As a result, the aircraft sensors market recorded a mammoth decline of more than 45% in the year 2020. The industry stakeholders were hoping for a hefty market recovery from 2021 onwards; however, the year ended with another pessimistic year for the industry stakeholders with demand further plunging by 7% in 2021.

Some key takeaways from this report –

The report offers key drivers that trigger the growth in the Aircraft Sensors Market. The insights mentioned in this report helps market players in formulating strategies to gain market presence or to sustain during the hard times. The research also mentions restraints of the market. Critical data on growth opportunities, current and upcoming trends are mentioned to assist market players in taking further steps by determining the potential in untapped regions.

The research offers segment wise analysis of the Aircraft Sensors Market. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables, graphs, pie charts and more.

Based on the aircraft type, the aircraft sensors market is segmented into commercial aircraft, general aviation, regional aircraft, military aircraft, helicopter, and unmanned aerial vehicles. Commercial aircraft is expected to remain the dominant aircraft type in the market during the forecast period owing to a relatively large number of sensors used for different applications in commercial aircraft. An expected increase in air passenger traffic coupled with an expected ramp-up in production rates of key aircraft programs and upcoming aircraft programs are likely to create huge growth opportunities in the commercial aircraft sensors market in the foreseen years.

Based on the sensor type, the market is segmented into pressure sensor, temperature sensor, position sensor, force/torque sensor, inertial sensor, and others. Pressure sensor is expected to remain the dominant as well as the fastest-growing sensor type in the market during the forecast period, owing to their high usage in flight control systems, engine, cabin, and landing gear, wheels, & brakes applications, etc.

Based on the application type, the market is segmented into engine; landing gear, wheels & brakes; flight control systems; cabin, cargo & ECS, and others. Engine is expected to remain the dominant application type in the market during the forecast period. Engine is the most critical section of an aircraft and contains several sensitive areas where high fluctuation in temperature and pressure exists.

In terms of regions, North America is expected to remain the largest market for aircraft sensors during the forecast period, due to the presence of a large number of raw material suppliers, tier players, OEMs, and sensor manufacturers, making the region a growth engine of the aircraft industry.

Asia-Pacific is projected to witness the highest growth in the market over the next five years with the increasing focus of industry stakeholders to expand in emerging economies such as India and China. The region is expected to occupy ~38% share of the world's aircraft fleet in the next twenty years.  

Key Players

The following are the key players in the Aircraft Sensors Market- 

• TE Connectivity
• Thales Group
• Honeywell International Inc.
• Safran S.A.
• Meggitt PLC
• Curtiss-Wrights Corporation
• Ametek Inc.
• Transdigm Group, Inc. (Auxitrol Weston)
• Woodward Inc.
• Sensata Technologies Inc.

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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.

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