The market for Aircraft Sensors is expected to reach US$ 2,686.0 Mn in 2026.
The global market for aircraft sensors was valued at $1,653.2 million in 2017 and is expected to reach $2,686.5 million by 2026, growing at a 5.7% CAGR between 2018 and 2026. The demand for aircraft sensors is primarily driven by the production of new aircraft. The fleet size of passenger aircraft in service crossed 19,000 units, with record levels of deliveries in 2016 due to a continuous increase in passenger traffic. Global air travel traffic increased by 6.4% in 2016 compared to the previous year. In today's busy and packed lifestyle, to save time, people prefer to fly from one place to another. In addition, the availability of airline services at a cheaper rate is changing travelers' perceptions of other travel options. In addition, steadily reducing oil and jet fuel prices are also motivating airline service providers to expand their operations to support the rising demand for airline services. Some major aircraft manufacturers, including Boeing Co. and Airbus Group, also predict considerable investment opportunities in new commercial aircraft manufacturing in the next decade with the increasing number of air travelers. According to Boeing, the rise in middle-income travelers will create a demand for more than 41,000 new airplanes over the next 20 years. This predicted increase in the number of new aircraft is foreseen to drive the demand for aircraft sensors.
The aircraft industry is continuously looking to integrate solutions that will reduce operational and maintenance costs. The use of wireless sensor networks in aircraft structural health monitoring would benefit aircraft operators by reducing weight and design complexity. All these benefits directly result in lower maintenance and operational costs, ensuring additional revenues for airline operators. In addition, wireless sensors improve the effectiveness of data acquisition as they allow connecting multiple data acquisition units without requiring external hardware. At present, several projects are ongoing to check the feasibility of wireless sensor networks over wired sensor systems. Europe has supported a project called Flite Instrumentation Test for Wireless Sensors (FLITE-WISE), intended to check the feasibility of using wireless sensor networks (WSN) using radio interface technology to communicate. Wireless sensors are expected to witness robust growth in the near future with the improving effectiveness of this technology over wired solutions and rising awareness about the benefits of WSN in aircraft maintenance and monitoring.
The narrow-body aircraft segment is expected to remain the dominant aircraft category for aircraft sensors with their increasing production and demand over the forecast period. Leading aircraft manufacturers Boeing and Airbus both predict that narrow-body aircraft will remain the most potential product category, accounting for 70% of total new aircraft deliveries over the next 20 years. Narrow-body aircraft consume less fuel, which significantly reduces operating costs for airline service providers. This is one of the primary factors influencing airline operators to shift toward narrow-body aircraft over wide-body aircraft. In North America, wide-body aircraft accounted for 20% of domestic flying capacity in 1983, which was reduced to 5% by 2014. Similar trends are observed in China and other major countries across the world. Thus, the wide-body aircraft product category is expected to witness slow growth in the aircraft sensors market.
The U.S. is the largest aerospace engineering market globally. Aircraft engineering is one of the top contributing sectors in the U.S. manufacturing industry. The U.S. government gives significant attention to the aerospace industry, as it comprises 3% of the total manufacturing workforce in the country. Moreover, the U.S. is the largest manufacturer and exporter of commercial aircraft. France, Germany, Japan, and the UK are major customers for U.S. aircraft manufacturers. However, Asian countries, including India, China, and Southeast Asian countries, are expected to be the major market for aircraft manufacturers due to the increasing number of air travelers in these countries. Asia Pacific comprises the largest fleet size of commercial aircraft and is expected to witness the fastest growth for aircraft sensors with growing demand for narrow-body aircraft in the region.
Recognized aircraft sensor manufacturers, including Honeywell International Inc., UTC Aerospace Systems, TE Connectivity Ltd., Zodiac Aerospace, Meggitt Plc, Safran Electronic & Defense, Ametek, Inc., Curtiss-Wright Corporation, Esterline Technologies Corporation, and others, are focusing on product innovation, partnership agreements, and geographical expansions for better revenue enhancement opportunities. Recently, Honeywell introduced its new series of self-diagnosing Integral Health Monitoring (IHM) proximity sensors that give alerts when the sensor system is damaged or impacted. The introduction of such innovative products to enhance the performance of aircraft systems and reduce aircraft maintenance costs will help manufacturers gain a competitive advantage in the industry.
2016 : Historic year.
2017: Base Year
2018–2026 : Forecast Period
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
The research study on the aircraft sensors market provides an exhaustive analysis of trends and dynamics in the global aircraft sensors market. The report offers an in-depth qualitative as well as quantitative analysis of different sensor technologies used in aircraft. The report outlines key driving and limiting factors and highlights key opportunity areas in the global aircraft sensor markets. A precise analysis of the global aircraft sensor market would help industry players across the value chain formulate their winning strategies. The report also includes Porter's Five Forces, the value chain of the aircraft industry, and the attractive investment position of the aircraft sensor industry in order to assist market players in their expansion and market entry decisions. The aircraft sensors market is categorized into sensor type, application, technology, aircraft type, and geography. This report also profiles major players in the industry.
The market for Aircraft Sensors is expected to reach US$ 2,686.0 Mn in 2026.
The Aircraft Sensors market is expected to see significant CAGR growth over the coming years,at 5.7%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
UTC Aerospace Systems,Honeywell International Inc.,TE Connectivity Ltd.,Zodiac Aerospace,Meggitt Plc. are some of the major players in the global market.