Jul 27, 2023   SOURCE: BusinessWire

Global Aircraft Sensors Market to Reach $2.2 Billion by 2028 with a 10.5% CAGR Driven by Technological Advancements and Growing Aircraft Fleet Size - ResearchAndMarkets.com

The "Aerospace Sensors Market Size, Share, Trend, Forecast Analysis, and Growth Opportunity: 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The aircraft sensors market was estimated at USD 1.1 billion in 2022 and is likely to grow at a promising CAGR of 10.5% during 2023-2028 to reach USD 2.2 billion in 2028.

Aircraft sensors provide critical information to pilots for aircraft safety. In an aircraft cabin, 100 to 300 sensors are employed, with roughly 11 major types of sensors present to detect and measure various outputs from aircraft systems and any fault/damage as soon as feasible for safety and smooth operations. With the world's fastest-growing contemporary aircraft, there is an unceasing demand for robust and reliable aircraft sensors.

Some common types of sensors found on aircraft include - Pressure Sensors, Temperature Sensors, Position Sensors, Force/Torque Sensors, Inertial Sensors, etc.

Market Drivers

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.

The COVID-19 pandemic had a significant impact on the aircraft sensors market, causing a decline of over 45% in 2020. Despite hopes for a market recovery in 2021, demand continued to decline by 7%. This has had a major impact on industry stakeholders. The industry registered a steep recovery from 2022 onwards, especially on both fronts: OE as well as aftermarket.

Factors that are likely to help industry stakeholders rejuvenate the sensors market are:

  • Increasing production rates of key aircraft programs
  • Expected market entry of COMAC C919, Irkut MC-21, and Boeing B777x
  • Rising aircraft fleet size
  • Growing acceptance of sensors, in unmanned aerial vehicles
  • Improved sensors in aviation to monitor different physical quantities
  • Advancement in sensors with wireless smart sensors and smart skin technologies to detect damage in an aircraft, etc
  • Overall, the aircraft sensors market is driven by a combination of technological advancements, regulatory requirements, and the need for improved operational efficiency and safety in the aviation industry

Key Players

The market is populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

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

Key Topics Covered:

1. Executive Summary

2. Aircraft Sensors Market Environment Analysis

2.1. Supply Chain Analysis

2.2. PEST Analysis

2.3. Industry Life Cycle Analysis

2.4. Market Drivers

2.5. Market Challenges

3. Aircraft Sensors Market Assessment (2017-2028)

3.1. Mapping of Sensor Types across Platforms

3.2. Aircraft Sensors Market Trend and Forecast (US$ Million and Thousand Units)

3.3. Pre-COVID vs Post-COVID Assessment

3.4. Real GDP Loss vs Aircraft Sensors Market Loss (2022-2024)

3.5. Market Scenario Analysis: Growth Trajectories in Different Market Conditions

4. Aircraft Sensors Market Segment Analysis (2017-2028)

4.1. Aircraft-Type Analysis

4.2. Sensor-Type Analysis

4.3. Application-Type Analysis

4.4. End-User Type Analysis

4.5. Regional Analysis

5. Competitive Analysis

5.1. Market Consolidation Level

5.2. Competitive Landscape

5.3. Market Share Analysis

5.4. Product Portfolio Analysis

5.5. Geographical Presence

5.6. New Product Launches

5.7. Strategic Alliances

5.8. Porter's Five Forces Analysis

6. Strategic Growth Opportunities

7. Company Profile of Key Players (Alphabetically Arranged)

7.1. Ametek Inc.

7.2. Crane Holding Co.

7.3. Curtiss-Wrights Corporation

7.4. Honeywell International Inc.

7.5. Meggitt PLC

7.6. Safran S.A.

7.7. Sensata Technologies Inc.

7.8. TE Connectivity Ltd.

7.9. Thales Group

7.10. Transdigm Group, Inc. (Auxitrol Weston)

7.11. Woodward Inc.

8. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/5ut1io

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