The aircraft sensors global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Aircraft Sensors Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The aircraft sensors market size has grown strongly in recent years. It will grow from $4.50 billion in 2023 to $4.87 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to miniaturization and enhanced functionality expanding sensor applications, mandated safety standards driving sensor integration, increased demand necessitates advanced sensor systems, sensors monitor emissions, optimize engine performance and defense sector innovations influence commercial sensor development.
The aircraft sensors market size is expected to see strong growth in the next few years. It will grow to $6.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to the increasing use of autonomous aircraft requires advanced sensor suites for navigation and obstacle detection, AI and machine learning enhance sensor intelligence, enabling predictive maintenance and adaptive control, electric propulsion growth necessitates specialized sensors for monitoring powertrain components and battery health, demand for real-time structural and engine health monitoring drives sensor development and urban air mobility requires precise navigation and collision avoidance sensors for safe operations in densely populated areas. Major trends in the forecast period include increased precision and distance in data gathering, enhanced environmental monitoring and resource assessment capabilities, real-time data processing for improved operational efficiency, comprehensive insights from multiple sensor data, and enhanced protection of sensor data from cyber threats.
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Scope Of Aircraft Sensors Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Aircraft Sensors Market Overview
Market Drivers –
The increasing production and delivery of new aircraft is expected to propel the growth of the aircraft sensors market going forward. Aircraft are vehicles designed for air travel, including airplanes, helicopters, and drones. The production and delivery of new aircraft are increasing due to growing demand from airlines seeking to modernize fleets, expand routes, and meet rising passenger travel needs globally. Aircraft paint is applied in aircraft production primarily to protect against corrosion and environmental damage and enhance aesthetics. For instance, in January 2023, according to Airbus SE, a Netherlands-based aerospace corporation, the company delivered 661 commercial aircraft to 84 customers in 2022, representing an increase of 8% from the 611 units sold in 2021. Therefore, increasing production and delivery of new aircraft is driving the growth of the aircraft sensors market.
Market Trends –
Major companies in the aircraft sensors market are focusing on developing advanced sensors for aircraft, such as micro-electro-mechanical systems (MEMS) accelerometers, to provide a high-performance navigation solution for aerospace and gain a competitive edge. Micro-electro-mechanical systems (MEMS) accelerometer is a high-accuracy device that helps determine the aircraft’s velocity and orientation. For instance, in March 2022, Honeywell, a US-based aerospace company, launched the MV60, a new precision navigation sensor. It is a MEMS accelerometer for aerospace, industrial, and marine applications. The MV60 offers high performance and reliability in a compact, rugged, cost-effective design. It measures acceleration for navigation systems and inertial measurement units across various vehicles and operations. The device features a small footprint, shock survivability up to 5,000 g, and bandwidth over 300 Hz. The MV60 features a robust design and quality assurance that provide superior reliability, ensuring it can withstand demanding operating conditions.
The aircraft sensors market covered in this report is segmented –
1) By Sensor Type: Temperature, Pressure, Position, Flow, Torque, Radar, Accelerometer, Proximity
2) By Aircraft Type: Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, Unmanned Aerial Vehicle (UAV)
3) By Connectivity: Wired, Wireless
4) By Application: Engine, Door, Environmental Control
5) By End Use: Original Equipment Manufacturer (OEM), Aftermarket
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Regional Insights –
North America was the largest region in the aircraft sensors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft sensors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the aircraft sensors market are General Electric Company, United Technologies Corporation, The Raytheon Company, Lockheed Martin Corporation, Schneider Electric SE, Honeywell International Inc., BAE Systems, Safran Electronic & Defense, Eaton Corporation, Thales Group, Collins Aerospace, TE Connectivity Ltd., Parker Hannifin Corporation, Amphenol Corporation, Ametek Inc., General Atomics Corporation, Crane Aerospace & Electronics, Curtiss-Wright Corporation, Woodward Inc., Esterline Technologies Corporation, Stellar Technology, Avidyne Corporation, Hydra-Electric Company, PCB Piezotronics Inc., Custom Control Sensors LLC
Table of Contents
1. Executive Summary
2. Aircraft Sensors Market Report Structure
3. Aircraft Sensors Market Trends And Strategies
4. Aircraft Sensors Market – Macro Economic Scenario
5. Global Aircraft Sensors Market Size and Growth
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32. Global Aircraft Sensors Market Competitive Benchmarking
33. Global Aircraft Sensors Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Aircraft Sensors Market
35. Aircraft Sensors Market Future Outlook and Potential Analysis
36. Appendix
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