Global Aircraft Sensors Market Overview:
The global number of air travelers has dramatically increased at notable rate owing to rising disposable income and need to reduce travel time in the past few years. Interestingly, Aircraft maintenance costs account for 10% to 20% of total aircraft operating costs. An aircraft sensor is a device that measures a physical quantity and converts it into a signal which can be easily interpreted. Slight variations in these aircraft system or in its environment can lead to severe mishaps. The sensors incorporated in the aircraft identify such abnormal variations and alert the pilot. Such incidences have generated the demand for aircraft sensors in the aviation industry. Further,
As per latest study released by AMA Research, the Global Aircraft Sensors market is expected to see growth rate of 5.86%Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Advancements in Micro electromechanical Systems (MEMS) Technology and High Influx of Immigrants, Working Professionals, and Major Tourist Attraction
Market Growth Drivers:
Demand for New Aircrafts Globally, Rising Number of Flight Passengers and Rapidly Increasing Number of Commercial Aircrafts
Challenges:
Risk of Cyber Security and Complexity in Designing these Aircraft Sensors
Restraints:
Stringent Government Regulation
Opportunities:
Adoption of Internet of Things (IoT) in Aviation Industry and Technological Advancements
Competitive Landscape:
The market is highly competitive and prominent manufacturers focusing on new product development to cater the airline service industry’s demand for aircraft weight reduction and lower maintenance cost. The players are involved who are involved in technological advancement leading to new aircraft sensors. For instance, July 2018, Airbus introduced whale-faced aircraft, BelugaXL. It is a next-generation aircraft having a humongous capacity, which requires a considerable amount of sensors, primarily temperature sensors.
Some of the key players profiled in the report are Honeywell Aerospace (India), Garmin International Ltd. (Germany), Aerosonic Corporation (United States), Rockwell Collins (United States), Thales Group (France), Aerocontrolex Group (United States), Collins Aerospace (United States), Thomman Aircraft Equipment Ltd. (Switzerland), Free Flight Systems (United States), Hindustan Aeronautics Ltd. (India) and Trimble Navigation Inc. (United States). Additionally, following companies can also be profiled that are part of our coverage like Memscap (France), Kollsman, Inc. (United States), Dynon Avionics (United States) and Pacific Avionics & Instruments (Canada). Analyst at AMA Research see United States Players to retain maximum share of Global Aircraft Sensors market by 2028. Considering Market by Aircraft Type, the sub-segment i.e. Narrow-Body Aircraft will boost the Aircraft Sensors market. Considering Market by Sensors, the sub-segment i.e. Wired Sensors will boost the Aircraft Sensors market.
Latest Market Insights:
In March 22, 2022, Honeywell launched new accelerometer that delivers high performance and reliability in a small, rugged, and low-cost package. The MV60 micro-electro-mechanical system (MEMS) accelerometer is designed for aerospace and defense but also used in industrial and marine applications that require high-precision, navigation-grade accelerometers that are small, lightweight and require little power to operate. This launch helped company to expand its presence in aircraft sensors market
In July 2018, Gas Sensing Solutions (GSS) developed unique carbon dioxide sensing technology, which would drastically improve the air quality in the cabin of aircraft. and Honeywell led the project, along with the partnership with SST Sensing, Gas Sensing Solutions, and National Physical Laboratory.
What Can be Explored with the Aircraft Sensors Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Aircraft Sensors Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Aircraft Sensors
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Aircraft Sensors market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Aircraft Sensors market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers of Aircraft Sensors, Wholesalers, Retailers, and Distributors of Aircraft Sensors, Manufacturers of Aircraft, Manufacturers of Aircraft Engines, System Integrators, Technology Providers, Aircraft Component Manufacturers, Raw Material Suppliers and Aircraft Regulatory Bodies.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.