Research Cosmos | Hyderabad | 15/03/2019:
Aircraft Sensors Market Size and Growth Rate:
According to the Research Report published by Research Cosmos the Global Aircraft Sensors Market Size was valued at USD 1.7 Billion in 2017 and was Expected to Reach at a CAGR of 6.2% by 2025 during the forecast period.
The recent wave in the technology is the introduction of Internet of Things (IoT), where numerous sensors are used to connect different devices or objects as a single unit with remote control to the users. This technology has even reached the aircraft industry, where wireless sensors are used to curb the increasing costs of system installation and the following maintenance. Moreover, adoption of different sensors declines the complexities in the aircraft system and increase the connectivity with the ground unit.
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The wireless sensors in aircraft provides the timely information about different controls such as fuel, lubricants, and others. Temperature sensors are used to maintain the required conditions at brakes, air ducts and hydraulic lines. The increasing adoption of these sensors not only improve the efficiency of the aircraft but also provide the best experience to the passengers. The growing preference for air travel due to the time constraint among the world population has been the single most factor driving the aircraft sensors market.
The global aircraft sensors market has applications in different industries like commercial, military, general, etc. The technological advancements in the industry, availability of wide range of aircrafts, introduction in new routes, growing tourism industry, rise in disposable income of the people, and mounting demand for commercial aircraft are some of the major aspects that are accelerating the demand for this market. However, the strict government regulations, chances of cyberattacks, and high initial investment could hamper the rapid expansion of aircraft sensors globally.
Another advancement in this industry is the Unmanned Aerial Vehicles (UAV), where different sensors like pressure, accelerometers, gyroscopes and others are embedded within to provide precise information. The augmenting demand from the aircraft manufacturers to provide best experience to their passengers has been at the forefront of the mounting adoption of the wireless sensors in the aircrafts.
Aircraft Sensors Market Regional Presence:
Geographically, North America is the leading region in the global aircraft sensor market with the highest portion of the overall revenue. Frequent air travel by both common people and business professionals, increase in tourism industry, early adoption of the technology, presence of key manufacturers, and the high public and private investments are bolstering the demand for this market in North America. Following North America, Europe and Asia Pacific are also promising for the aircraft sensors due to the increase in consumer preference for air travel, rise in personal expenses and interest to explore new destinations.
Key Players of the Aircraft Sensors Market:
Some of the prominent players in the global market are General Electric Company, Woodward Inc., TE Connectivity Ltd., Thales Group, Ametek, Inc., Honeywell International, Inc., Meggitt PLC, Zodiac aerospace, Curtiss-Wright Corp, Schneider Electric SE, UTC Aerospace Systems, and others.
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