Global Aircraft Sensors Market is projected to be valued at USD 6,090 Million by 2030, registering a CAGR of 4.45% from 2019 to 2030. The rising demand for new aircraft across the globe to cater to the growing air passenger traffic has significantly contributed to the expansion of the aircraft sensors market. High competition owing to the presence of several players in the market has led aircraft sensors providers to focus on innovation.
Furthermore, the growing adoption of aircraft sensors in the defense industry is also expected to drive the growth of the market. For example, in 2018, the US Navy signed a contract with Raytheon Company to upgrade the sensor systems of its F/A-18E/F Super Hornets and EA-18G Growlers aircraft.
However, issues related to cybersecurity threats, the design complexity of aircraft sensors, and stringent aviation regulations might hamper the growth of the market.
The increasing need for reducing operational costs is increasing the adoption of aircraft sensors.
Growth Opportunities in the Market
Altimeter sensors segment to register the highest growth rate: The altimeter sensors segment is expected to exhibit the highest CAGR during the forecast period of 2019 to 2030. Altimeter sensors offer benefits such as accuracy, ease of implementation, and reduced ownership cost thus driving the growth of the segment.
Wireless sensors segment is expected to be the fastest-growing: The wireless sensors segment is expected to register the higher CAGR during the forecast period of 2019 to 2030. The growing adoption of wireless sensors for aircraft fly-by-wire systems is expected to drive the growth of the segment. Furthermore, the rising adoption of connected aircraft that support wireless sensors is also expected to drive the growth of the segment.
UAV segment expected to register the highest CAGR: The UAV segment is expected to exhibit the highest growth rate during the forecast period. The rising adoption of UAVs for industrial and commercial applications is expected to drive the growth of the segment. Furthermore, the growing investment of the US Army in the development of UAVs is also expected to drive the growth of the segment.
OEM segment to register the higher growth rate: The OEM segment is expected to exhibit a higher CAGR during the forecast period of 2019 to 2030. OEMs offer benefits such as enhanced quality, warranty, and brand identity.
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Honeywell International, Inc. (US)
TE Connectivity (Switzerland)
United Technologies Corporation (US)
Meggitt PLC (UK)
Curtiss-Wright Corporation (US)
Esterline Technologies Corporation (US)
Thales Group (France)
Raytheon Company (US)
Other Prominent Players
General Electric (US)
Eaton Corporation (Ireland)
Crane Aerospace & Electronics (US)
Stellar Technology (US)
Custom Control Sensors, LLC (US)
Magnetic Sensors Corporation (US)
Active Sensors (UK)
SST Sensing Ltd (UK)
Hydra-Electric Company (US)
PCB Piezotronics Inc (US)
Avidyne Corporation (US)
United Electric Controls (US)