Northbrook, IL -- (SBWire) -- 06/23/2021 --The aircraft sensors market is projected to grow from USD 3.5 billion in 2020 to USD 4.4 billion by 2025, at a CAGR of 4.8 % from 2020 to 2025. The market is segmented based on platform, sensor type, connectivity, application, fit, and region. Factors that are expected to fuel the growth of the aircraft sensors market are the development of advanced sensors and the high rate of adoption of wireless sensors for commercial and military purposes.
The North America region is expected to lead the aircraft sensors market from 2020 to 2025
The North America aircraft sensors market is projected to grow at the highest CAGR during the forecast period. The aviation industry is growing at a significant pace in the North America region, mainly driven by increasing air passenger traffic. The increase in disposable income and growth in air passenger traffic have resulted in a growing demand for new aircraft deliveries in this region, which, in turn, boosts the demand for aircraft sensors.
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The fixed-wing aircraft segment is projected to lead the aircraft sensors market during the forecast period.
Increase in the number of air passengers, especially from the emerging economies, is expected to have a significant impact on the commercial aviation market. The increasing demand for fixed-wing aircraft, which are widely used for air travel, is expected to drive the aircraft sensors market during the forecast period.
Increasing demand for wireless sensors is expected to drive the market for aircraft sensors during the forecast period.
Based on connectivity, the wireless sensors segment is expected to grow at the highest CAGR during the forecast period. The global market is dominated by the wired sensors segment and the market size for wireless sensors for aircraft will increase based on the increasing demand for lightweight aircraft.
Key Market Players
The major vendors in the aircraft sensors market include Honeywell International, Inc. (US), TE Connectivity Ltd. (Switzerland), Ametek, Inc. (US), General Electric Company (US), Meggitt PLC (UK), Safran S.A. (France), Woodward Inc. (US), Thales Group (France), and Zodiac Aerospace (France). These players are engaged in securing contracts to increase the sale of aircraft sensors.
North America Is Expected to Lead the Aircraft Sensors Market from 2020 to 2025