The global aircraft sensor market was valued at USD 3.54 billion in 2020 and is expected to grow at a CAGR of 4.7% during forecast period. Advent of more electronic components in an aircraft has led to increasing popularity of sensors in modern airplane programs. Increasing focus on safer and seamless flight operations and experience has further led to growing market demand for various devices in an airplane, thereby performing internal monitoring and guiding operations. An expected recovery in aircraft deliveries, gradual improvement in air traffic after regaining of confidence among consumers for safer flight experience and increasing in-flight connectivity among modern aircraft platforms are some other key driving factors escalating the product demand.
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Aircraft industry is one of the worst affected industries by the COVID-19 pandemic. As per ICAO’s July 2021 estimate, there was an appx. USD 371 billion plunges in gross passenger operating revenues of airlines in 2020 vs. 2019, of which appx. USD 250 billion is from international air passenger traffic and remaining from the domestic air passenger traffic. Aircraft sensors market, although holding a niche share in the total industry, could not escape from such a severe shook in the industry, as it is highly dependent on the organic growth of the industry.
Despite, serious plunge in airplane traffic amid pandemic, the future industry outlook seems to be resilient with regain in consumer’s confidence in safe flight travel, gradual opening of economies with widespread penetration of COVID-19 vaccinations, expected recovery in air traffic with faster recovery in domestic flights, and expected increase in airplane production and deliveries.
Aircraft industry has been witnessing a revolution in connectivity and digitalization. There is significant increase in penetration of sensors in modern aircraft programs, for instance, Airbus next-generation modern aircraft platform A350 has about 50,000 sensors onboard, which can collect 2.5 terabytes of data every day.
Aircraft sensor market growth is also highly dependent on the growth of airplane production and deliveries, with the opening of economies across the world; there has been a gradual increase in air traffic creating positive signs of recovery after a deep nose-dive for the industry. As per the Boeing and Airbus recent outlook, there exists a huge pile of backlog orders among both Boeing and Airbus (5084 and 6925 aircraft backlog respectively, as of June 2021), thereby creating a resilient future market prospect, expected recovery in airplane deliveries, and production, and increasing airplane fleet size are some other key factors driving the market growth.
Furthermore, increase electronic components in modern airplane, be it commercial or military airplane, increasing market demand for safer, seamless, and smooth flight operations, growing in-flight connectivity and internet of things, and stringent norms of regulatory bodies to ensure safer operations and low emission aircraft are some other crucial growth drivers fueling the aircraft sensor market demand.
The market is segmented in the most comprehensive way based on aircraft, sensor, application, end-use, and region.
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Narrow-body airplane captured mammoth share of the market in 2020 and is likely to retain its dominance during the forecast period. Early recovery in domestic air traffics across countries, gradual increase in narrow-body airplane production and deliveries, increasing global airplane fleet size, trend of more electric airplane, and stringent regulations standards on safety and fuel efficiency set by various airplane governing bodies such as FAA (Federal Aviation Agency), EASA (European Union Aviation Safety Agency), and ICAO (International Civil Aviation Organization) are some key factors proliferating the market growth of the segment in the market.
Wide-body aircraft segment witnessed a hefty decline in the wake of pandemic and is likely to recoup at a very slow rate due to halt in international flight operations in various countries across the globe. In response to the downfall in market demand and cancellation of orders from airlines, there has been a significant reduction in production volumes of widebody airplane by both the commercial airplane giants Airbus and Boeing. However, wide-body freight aircraft have found some solace amid pandemic due to continued operations of cargo flights.
Pressure sensor holds gigantic share of the airplane sensor market driven by its application in monitoring and indicating cabin and cargo deck pressure of an airplane. Apart from cabin and cargo deck, it also has significant usage in various other significant application areas such as cockpit autopilot controls, hydraulic controls, and APUs (Auxiliary Power Units).
Temperature and flow sensors are highly significant in engine application areas for monitoring and smooth functioning of prolonged engine operations. These sensors play a vital role in safer operations, such as monitoring and indicating overheating and the levels of fuel and oil.
Flight deck & control systems segment is likely to grow at the highest rate in the aircraft sensors market during the forecast period. Increasing in-flight connectivity with advanced cockpit electronics and increasing focus on safer and seamless flight control operations are some of the major factors driving the growth of the segment.
Geographically, North America holds high dominance in the global market due to the USA being an aerospace industry hub with the presence of large number of airplane OEMs, engine OEMs, tier players, part manufacturers, MRO companies, and airlines. Some of the leading OEMs, such as Boeing, Gulfstream Aerospace, Lockheed Martin, Bombardier Aerospace, and Northrop Grumman have a manufacturing base in the region.
Europe also holds sizeable market opportunities, with key countries such as Germany, France, the UK, Italy, Spain, and Russia being the key demand generators in the region. Airbus, the largest airplane manufacturer, has manufacturing operations in Germany, France, and the UK, leading to significant market opportunities for airplane industry stakeholders, including aircraft sensor suppliers.
Asia-Pacific is likely to showcase highest growth opportunities in the global market during the forecast period. China and India act as new hot spots for growth in the region. Both Airbus and Boeing have set up manufacturing facilities of their best-selling aircraft platforms (A320 and B737) in China to exploit the significant growth opportunities.
Strategies adopted by leading players to gain a competitive edge in the market include mergers & acquisitions, as bigger companies are acquiring smaller companies to expand their business operations, product portfolios, and geographical reach. Further formation of long-term contracts and certification of new and advanced products are some other core competency strategies of the market players.
Some of the key players competing in the global aircraft sensor market are Ametek Inc., BAE Systems, Crane Aerospace & Electronics, Curtiss-Wright Corporation, Eaton, Esterline Technologies Corporation, General Electric, Honeywell International Inc., InvenSense, Kulite Semiconductor Products, Inc, Meggitt PLC, Safran S.A., Stellar Technology, TE Connectivity, Thales Group, Trimble Inc, Vectornav Technologies, Woodward Inc.
Market size value in 2020
USD 3.54 billion
Revenue forecast in 2028
USD 4.62 billion
4.7% from 2021 - 2028
2016 - 2019
2021 - 2028
Revenue in USD million/billion and CAGR from 2021 to 2028
By Aircraft, By Sensor, By Application, By End-Use, By Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Ametek Inc., BAE Systems, Crane Aerospace & Electronics, Curtiss-Wright Corporation, Eaton, Esterline Technologies Corporation, General Electric, Honeywell International Inc., InvenSense, Kulite Semiconductor Products, Inc, Meggitt PLC, Safran S.A., Stellar Technology, TE Connectivity, Thales Group, Trimble Inc, Vectornav Technologies, Woodward Inc.