Aircraft Sensors Market to grow from market value of USD 3.3 billion in 2017 to USD 4.8 billion by 2023| Major Players - TE CONNECTIVITY LTD, UTC AEROSPACE SYSTEMS, ZODIAC AEROSPACE, AMETEK, INC., MEGGITT PLC, ESTERLINE TECHNOLOGIES CORPORATION, THALES GR

Market Analysis:

North America Expected to Have Largest Market Share

North America is the manufacturing capital of the aerospace & defense industry with the presence of several large-sized to small-sized aircraft OEMs, engine OEMs, tier players, sensor manufacturers, distributors, and raw material suppliers.

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According to IATA, 7.2 billion passengers are expected to travel in 2035, which is a near doubling of the estimated 3.8 billion air travelers in 2016. The rise in disposable incomes and the increased purchasing power of customers has increased air travel. This increase in the number of passengers is expected to result in the increase in the fleet size of companies. This is leading to the growth in the aircraft sensors market. With the rise in the demand, the narrow-body aircraft engine manufacturers are developing faster delivery processes. This will lead to an increase in the number of narrow-body type aircraft which, in turn, is expected to increase the market share of sensors used in the narrow-body segment.

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Market Segments:
Aircraft Sensors Market is segmented by:
1. Sensor Type: Pressure Sensors, Temperature Sensors, Speed Sensors, Proximity Sensors, Gyro Sensors, Others
2. Connectivity Type: Wireless, Wired
3. Aircraft Type: Narrow-body Aircraft, Wide-body Aircraft, Very Large Aircraft, Helicopter, Military Aircraft, UAV, Others
4. Geography: North America, South America, Europe, Asia Pacific, Middle East & Africa

Key Developments in the market

• January 2018 - Navy issued board agency announcement for sensor R&D proposals. These sensors will support operations including air-under-sea-warfare, airborne strike, and air warfare, and it is an opportunity for growth for the companies in aircraft sensors manufacturing.
• August 2017 - Honeywell announced launch of proximity sensors for aircraft.

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