North America could be one of the most lucrative markets for aircraft sensors as it expands at an expected CAGR of 7.0%. In 2017, it already secured a US$0.8 bn and is envisioned to grow extensively well in the coming years.

Albany, NY -- (SBWire) -- 10/27/2017 --A fresh report titled "Aircraft Sensors Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024" has been included to the wide collection of research reports managed by Market Research Reports Search Engine (MRRSE). The global aircraft sensors market is foretold to increase its growth in the near future on account of the elevating prominence of wireless sensors. Aircraft manufacturers could engage wireless sensors due to their contribution in the reduction of installation and maintenance expenses of aircrafts. Moreover, such types of sensors could hold the capability to minimize the complexity of an aircraft's subsystems design.

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Global Aircraft Sensors Market: Dynamics

The world aircraft sensors market is prognosticated to gain impetus from the growing business of various types of platform such as unmanned aerial vehicle (UAV), rotary-wing aircraft, and fixed-wing aircraft. By the end of 2017, the market could testify the prominence of fixed-wing aircraft in creating business opportunities for industry players. More interestingly, fixed-wing aircraft is envisaged to continue boding well for the growth of the market for years to come. Gyroscopes could be a crucial type of aircraft sensors envisioned to collect a handsome amount of earnings in the near future. Likewise, the report provides information on more driving factors deemed critical for the market.

Global Aircraft Sensors Market: Segmentation

The international aircraft sensors market is anticipated to bear a segmentation in terms of type of product, where key segments could be turbofan, turboprop, and turboshaft. In view of application, the segmentation of the market is predicted to include important sectors such as commercial, military, and general. Amongst these segments, commercial could grab a majority of the revenue earned by the market until the end of 2022.

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The commercial market for aircraft sensors could expand at a CAGR of 6.7% between 2017 and 2022. The absolute annual growth of this market could be larger than other segments falling under the same category. On an annual basis, the commercial segment by application is expected to garner a US$0.07 bn. In 2017, it secured a share of 51.3% under its belt. In the same year, it earned a revenue of US$0.9 bn. The dominance of this segment could continue for the next few years.

Geographically, North America is envisaged to hold a larger share while rising at a 7.0% CAGR. Other segments such as the Middle East and Africa (MEA), Europe, Japan, Latin America, and Asia Pacific except Japan (APEJ) could be important for the market as well.

Global Aircraft Sensors Market: Competition

The report profiles noticeable players such as UTC Aerospace Systems, TE Connectivity Ltd., Honeywell International, Inc., Zodiac Aerospace SA, AMETEK, Inc., Schneider Electric SE, General Atomics Corporation, Safran SA, Meggitt plc, and Curtiss-Wright Corporation.

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