Altimeter Market Worldwide Top Players Revenue Analysis of Garmin International Inc., Aerocontrolex Group Inc., Honeywell Aerospace

An altimeter is a device used to determine the altitude attained by any object above a fixed level. A barometer or a radar fitted in the aircrafts is an example of altimeter. Altimeters are used by pilots for navigating aircrafts and spacecraft to monitor their height above the earth’s surface. Altimeters are also used by mountaineers and sky divers to pinpoint their location.

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Increasing number of commercial aircrafts is major driving factor for growth of the altimeter market

Altimeter is very important device for determination of altitudes, hence it is primarily used in every type of aircraft. The market for commercial airlines are flourishing globally. For instance, according to International Civil Aviation Organization (ICAO), the total number of air passengers increased to 3.8 billion in 2016, which was 6.8% higher than 2015, which is propelling demand for introduction of more number of aircrafts in order to expand the network for air travel, which in turn is propelling demand for Altimeter. Therefore, increase in the number of aircrafts is driving growth of the altimeter market.

Increasing government investment in fighter aircrafts is accelerating growth of the market

Increasing investment by government of various countries for fighter aircrafts plays a major role for the growth of the market. For instance, in 2017, the government of Canada announced to purchase 88 advanced fighter aircraft for Canadian safety and security.

Altimeter Market: Regional Insight

Asia Pacific is expected to be the fastest growing region in altimeters market over the forecast period. India, China, Japan are some of the major countries driving growth of the market in Asia Pacific. As per the April 2018, press release by International Air Transport Association (IATA), Asia pacific had the highest market share of 33.7% of the total air passenger traffic across the global, in the month of February 2018. Thus, the growth for altimeter market is majorly driven in the Asia Pacific region pertaining to the increasing demand for air crafts to handle increasing number of air passengers.
North America held the dominant position in the market in 2017 and is projected to retain its dominance throughout the forecast period.

Altimeter Market: Competitive Insight

Key players operating in altimeter market include Garmin International Inc., Aerocontrolex Group Inc., Honeywell Aerospace, UTC Aerospace Systems, Thales Group, Rockwell Collins, Transdigm Group, and United Technologies.

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Altimeter Market: Taxonomy

By Display

• Analog Visual Altimeters
• Digital Visual Altimeters
• Audible Altimeters
• Auxiliary Visual Altimeters

By Application

• Commercial Aircraft
• Defence Sector
• Adventure Sports

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East
• Africa

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This release was published on openPR.