CHICAGO, Sept. 21, 2022 /PRNewswire/ -- Aircraft Sensors Market is projected to grow from USD 4.7 billion in 2022 to USD 7.0 billion by 2027, at a CAGR of 8.3% during the forecast period, according to a new report by MarketsandMarkets. The need for advanced sensor network across different platforms for the need to ensure health of aircraft systems and efficient operations.
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Browse in-depth TOC on "Aircraft Sensors Market" 237 - Tables
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The AAM Segment is estimated to lead the aircraft sensors market in forecast period.
Based on aircraft type, the AAM segment of the aircraft sensors market is accounted for the largest share during the forecast period. The increased need for parallel transportation system in urban and rural areas are driving the need for Advanced Air Mobility platforms. These platforms require a network of sensors that will cater to autonomous flight, flight stability, battery system management, etc. This is driving the demand for aircraft sensors.
The Fuel, Hydraulic & Pneumatic segment is expected to have highest market share during the forecast period.
Based on application, fuel, hydraulic & pneumatic system is expected to have highest market share during the forecast period. Fuel, hydraulic and pneumatic systems are the bloodline of the aircraft. The fluid systems control all integral functions of the aircraft ranging from, flight control, engine operations and landing gear deployment and retraction etc. Hence top of the line sensor solutions are required for this system, driving the demand for aircraft sensors.
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Asia Pacific Region is expected to witness largest growth in the forecast period.
Asia Pacific Region is witnessing highest growth among all the regions. Asia Pacific countries like China, India, Japan among other countries, are scaling up the in-house production of aircraft. These countries are also witnessing growing air traffic, which is contributing to increasing fleet sizes in this region. The increasing fleet size will also contribute to aftermarket services in this region. These factors are expected to drive market growth in these regions.
Key players operating in the aircraft sensors market include Honeywell (US), TE Connectivity (US), Meggitt PLC (UK), AMETEK Inc. (US), and Safran (France) among other solution, service and equipment providers. These players offer comprehensive solution to key stakeholders in the market.
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