Portland, OR, Nov. 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aircraft sensors market generated $4 billion in 2021, and is projected to reach $9.7 billion by 2031, growing at a CAGR of 9.1% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Aircraft Sensors Market Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4 billion |
| Market Size in 2031 | $9.7 billion |
| CAGR | 9.1% |
| No. of Pages in Report | 334 |
| Segments Covered | Aircraft Type, Application, Connectivity, End Use, and Region. |
| Drivers | Rise in demand for aircraft fleet expansion. |
| Surge in use of sensors for data sensing and measurements. | |
| Increase in demand for unmanned aerial vehicles (UAVs). | |
| Opportunities | Technological breakthroughs in the aviation sector and acceptance of wireless sensors. |
| Restrains | Privacy and security concerns as well as safety laws enforced by agencies in the aviation sector. |
COVID-19 Scenario:
- The outbreak of the COVID-19 had a negative impact on the growth of the global aircraft sensors market, owing to supply chain disruptions hampering the manufacture of sensor units.
- However, the COVID-19 pandemic had an adverse impact on various OEMs’ operations and key manufacturers also experienced short-term disruption in delivery of raw materials. This severely impacted the growth of the global market.
The report offers a detailed segmentation of the global aircraft sensors market based on aircraft type, application, connectivity, end use, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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On basis of aircraft type, the fixed wings segment held the major market share in 2021, holding nearly three-fourths of the global aircraft sensors market share, and is expected to maintain its leadership status during the forecast period. However, the others segment, is expected to cite the fastest CAGR of 14.9% during the forecast period. The report includes rotorcraft segment.
Based on application, the flight decks segment held the largest market share in 2021, accounting for one-fourth of the global aircraft sensors market share, and is expected to maintain its leadership status during the forecast period. However, the weapon systems segment, is expected to cite the highest CAGR of 14.4% during the forecast period. The report also includes other segments such as fuel, hydraulic and pneumatic systems, engine/propulsion, cabin and cargo environmental controls, aerostructures and flight control, landing gear systems, and others.
In terms of end use, the OEM segment held the major market share in 2021, contributing three-fourths of the global aircraft sensors market share, and is expected to maintain its leadership position during the forecast period. Moreover, the same segment, on the other hand, is expected to cite the fastest CAGR of 9.6% during the forecast period. The report also includes the aftermarket segment.
Region-wise, the market across the Asia-Pacific region held the major market share in 2021, holding more than one-third of the global aircraft sensors market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific aircraft sensors market is expected to cite the fastest CAGR of 10.4% during the forecast period. The report also analyses other regions such as Europe, North America, and LAMEA.
The key players analyzed in the global aircraft sensors market report include Ametek, Inc., Auxitrol Weston, BAE Systems plc, The Curtiss-Wright Corporation, Eaton Corporation plc, General Atomics, General Electric Company, Honeywell International Inc., Meggitt PLC, Raytheon Technologies Corporation, Safran S.A., Schneider Electric SE, Smith Systems Incorporated, TE Connectivity, Thales Group, Thermocouple Technology, LLC, and Woodward, Inc.
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The report analyzes these key players in the global aircraft sensors market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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