According to a new market report published by Acute Market Reports Inc “Aircraft Sensors Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast, 2016 – 2026,” the global aircraft sensors market is expected to witness significant growth throughout the forecast period with rising demand for passenger aircraft. The global market for aircraft sensors was valued at US$ 1,653.2 Mn in 2017 and is expected to cross US$ 2,686.0 Mn by 2026 at a CAGR of 5.7% from 2018 to 2026.
Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/aircraft-sensors-market
In the last five years, the global number of air travelers increased at a notable rate owing to the rising disposable income of the middle class and the need to reduce travel time in busy schedules. Continuous rise in air travelers motivating airlines services providers to expand their operations which is predicted to increase the demand for new aircraft globally. In addition, airline operators are focusing on reducing their aircraft maintenance and operating costs. Miniaturization of sensors and adaptation of wireless sensor networks (WNS) helps reducing flight weight and ultimately results in lower operating costs for airline service providers. All the above-mentioned factors are expected to spur the demand for aircraft sensors throughout the forecast period from 2018 to 2026.
Aircraft maintenance costs account for 10% to 20% of total aircraft operating costs. Airline operators are focusing on to reduce their operating costs in order to maintain their sustainability in competitive environments. Wired sensors networks are complex and difficult to route, and the use of the wired sensors gearbox, engine, airframes, structures, and other key component monitoring increases aircraft operating and maintenance costs. The use of wireless sensor networks (WSN) can help airline manufacturers and operators to overcome challenges such as increasing the number of sensors to monitor every element of aircraft and the system redundancy. In addition, it also helps to reduce the weight of aircraft and increases fuel efficiency. All these benefits of aircraft sensors aids in the reduction of maintenance costs and overall operational costs. Thus, wireless sensors are expected to witness significant growth over the forecast period.
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This research study covers sensors used in different types of aircraft including narrow-body aircraft, wide-body aircraft, very large aircraft, regional aircraft, general aviation aircraft, helicopters, military aircraft and unmanned aerial vehicles (UAVs). Narrow-body aircraft is the largest aircraft market segment for sensors and is expected to witness the fastest growth throughout the forecast period. Leading aircraft manufacturers are increasing their production of narrow-body aircraft due to increasing demand for this type of aircraft from China, India, Southeast Asia, and other emerging markets. Narrow-body aircraft would remain the primary choice for low-cost airline service providers to upsurge domestic operations in emerging countries. Wide-body aircraft is expected to witness the slowest growth throughout the forecast period as airline operators are reducing their operations of wide-body aircrafts for passenger traffic.
At present, North America is the largest regional market and the U.S. is the largest individual market for aircraft sensors due to the presence of formidable aerospace industry. The Asia Pacific is expected to witness the fastest growth as all major airline service providers are focusing to enhance their operations to meet the demand from domestic air travelers in major countries including India, China, and Southeast Asian countries.
The global aircraft sensor industry is highly competitive and prominent manufacturers focusing on new product development to cater to the airline service industry’s demand for aircraft weight reduction and lower maintenance costs. In addition, sensor manufacturers are developing long term partnerships with aircraft manufacturers to maintain their sustainability in a competitive environment.
List of Companies Covered:
Market Segmentation:
By Technology Type
By Aircraft Type
By Geography Segment Type
Key questions answered in this report
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