05 March 2021, IndustryNewsGlobal // -- This new report from Stratview Research analyses the Aircraft Sensors Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025
05 March 2021, IndustryNewsGlobal // -- This new report from Stratview Research analyses the Aircraft Sensors Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Aircraft Sensors Market Overview:
The sudden outbreak of the COVID-19 has led to unforeseen fluctuations across many industries and the Aircraft Sensors Market is no different. Derived from the previous market scenario, the Aircraft Sensors Market is likely to reach US$ 2.24 billion in 2025 but with the global crisis in action, the growth curve has deviated from its expected path and exhibits an uncertain trajectory at present.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
Aircraft Sensors Market Share Analysis
Aircraft Sensors Market Share by Aircraft Type
The global aircraft sensors market is segmented based on the aircraft type as narrow-body aircraft, wide-body aircraft, very large aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Narrow-body aircraft is expected to remain the largest segment of the global aircraft sensors market during the forecast period, propelled by increasing aircraft deliveries to support rising passenger and cargo traffic, the introduction of variants of existing programs, and rising commercial aircraft fleet size. Airbus anticipated that approximately 34,900 commercial aircraft will be delivered during 2017-2036. This will create a sustainable demand for sensors during the forecast period.
Aircraft Sensors Market Share by Application Type
Based on the application type, the global aircraft sensors market is segmented as engine, airframe, flight deck & control system, fluid conveyance, landing gear, environment control system, interior, and others. Flight deck & control system is projected to remain the most dominant application type in the global aircraft sensors market during the forecast period, propelled by rising aircraft deliveries, higher usage of sensors in the flight deck & control systems, and increased incorporation of avionics in the next-generation aircraft.
Based on the regions, North America is expected to remain the largest market for aircraft sensors during the forecast period as the region is the manufacturing capital of the aerospace & defense industry with the presence of several large- to small-sized aircraft OEMs, engine OEMs, tier players, sensor manufacturers, distributors, and raw material suppliers. Asia Pacific is expected to grow at the highest rate over the next five years, owing to upcoming commercial and regional aircraft programs and the world’s largest commercial aircraft fleet size.
The supply chain of this market comprises raw material suppliers, sensor manufacturers, distributors, tier players, aircraft OEMs, and airline companies.
The key aircraft OEMs are-
- Lockheed Martin
- Mitsubishi Heavy Industries
The key airline companies are-
- Delta Air
- Air China
- Singapore Airlines
The key sensor manufacturers for the aircraft industry are-
- Honeywell International Inc
- TE Connectivity Ltd.
- UTC Aerospace Systems
- Zodiac Aerospace
- Ametek, Inc.
- Meggitt Plc
- Safran Electronic & Defense
- Curtiss-Wright Corporation
- Esterline Technologies Corporation
New product development, the formation of long-term contracts, and a wide geographical presence are some of the key strategies adopted by the key players to gain a competitive edge in the market.