Global Aircraft Sensors Market Size to Reach USD 10.02 Billion in 2030 | Emergen Research

Vancouver, Sept. 11, 2023 (GLOBE NEWSWIRE) -- The aircraft sensors market size reached USD 4.40 Billion in 2021 and is expected to register a revenue CAGR of 9.7% during the forecast period according to the latest analysis by Emergen Research. Rising demand for sensors in military UAVs is a key factor driving revenue growth of the market. The market for aircraft sensors is expected to grow due to the increasing need for technologically superior aircraft to replace aging fleets and the widespread use of wireless sensors for both military and commercial applications. Defense financing inflation as well as the development of new technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and big data analytics are also expected to drive market revenue growth. In addition, factors contributing to the market's expansion include expanding fleet sizes, new market entrants, rising production rates for crucial commercial aircraft programs, rising electronic component counts in next-generation aircraft, and a keen focus on both fuel economy and passenger safety.

However, digitalization and system integration are the logical up-leveling phases for the aviation industry. As it develops, the aviation industry will become a completely networked, open ecosystem that is more exposed than ever before, taking the place of isolated systems that can only talk to one another. Aircraft OEMs and integrators are utilizing the Internet of Things capabilities to proactively identify maintenance concerns, order replacements for worn-out parts, and notify the ground crew while the aircraft is in flight so that no delays will occur when it lands. The rise in more complicated network systems will also raise the risks related to cybersecurity.

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Scope of Research

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Major Companies and Competitive Landscape

The aircraft sensors is fairly consolidated with few small and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

• The BOSCH Group
• Eaton Corporation
• Trimble Inc.
• TDK Corporation
• Meggitt PLC
• Curtiss-Wright Corporation
• General Electric Company
• Ultra Electronics
• Thales Group
• Lockhead Martin Corporation

Strategic Development

• On January 13, 2021, Honeywell International unveiled the next iteration of its Cabin Pressure Control and Monitoring System which has uses in both commercial and military aircraft. For use in tactical or military trainer-sized aircraft as well as business and regional aviation, this new version of the system is all-electric, lighter, and now available.

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Some Key Highlights From the Report

• The proximity sensor segment is expected to register a significant revenue growth rate. A proximity sensor is a type of sensor that replaces touch detection methods like limit switches. It tries to detect without coming into contact with the detecting object. It can create electrical impulses from an object's existence and movement. By making use of the displacement sensor's sensitivity to it, it determines how close the object is, and then outputs the necessary switch signal.
• The fixed-wing aircraft segment is expected to register a substantial revenue growth rate over the forecast period. The market for aircraft sensors is expected to grow considerably as fixed-wing aircraft demand for commercial purposes rises. Fixed-wing aircraft are the fastest form of transportation. They can generally fly higher and farther while using less fuel.
• The OEM segment is expected to register a moderate revenue growth rate over the forecast period. OEMs can amass sufficient dependability data as a stakeholder to alter maintenance strategies, eliminating the requirement for unnecessary maintenance labor. The expansion is related to the rise in the business jet and military aircraft deliveries globally. The market is predicted to grow as a consequence of research and development (R&D) initiatives to provide technologically superior aircraft sensors. 
• Market in North America is expected to register a considerable revenue growth rate during the forecast period. Due to factors like the region's significant tourism industry, high immigration rates, working professionals, and the requirement to improve air defense, commercial, corporate, and military aircraft are being utilized more regularly.

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Emergen Research has segmented the aircraft sensors market on the basis of sensor type, aircraft type, end-use, and region:

•    Sensor Type Outlook (Revenue, USD Billion; 2019–2030)

• • • Proximity Sensors
    • Temperature Sensors
    • Optical Sensors
    • Pressure Sensors
    • Force Sensors
    • Flow Sensors
    • Radar Sensors
    • Others

•     Aircraft Type Outlook (Revenue, USD Billion; 2019–2030)

• • • Fixed-Wing Aircraft
    • Rotary Wing Aircraft
    • Unmanned Aerial Vehicles
    • Advanced Air Mobility

•     End-Use Outlook (Revenue, USD Billion; 2019–2030)

• • • OEM
    • Aftermarket

•    Regional Outlook (Revenue, USD Billion; 2019–2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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