The aircraft sensors market was valued at 1.59 Billion in 2016, and is projected to reach USD 2.25 Billion by 2022, at a CAGR of 6.01% from 2017 to 2022. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022
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The global aircraft sensors market is foretold to significantly benefit from the dominance of North America in 2017, which could continue even until the end of 2022. It could gather a whole lot of demand in the foreseeable future due to the ongoing profit status of the aviation sector in the developed region.
The presence of major aircraft manufacturers such as Bell Helicopter, Lockheed Martin, and Boeing could up the demand for aircraft sensors in the region.
Buyers of this report are projected to embrace a complete understanding about important factors that could impact the growth and demand in the global aircraft sensors market. With the help of this intelligent and exclusive guideline, readers could take near-accurate and vital decisions while operating in the market.
Furthermore, the report is considered to offer encyclopedic sets of data related to market figures, growth projections, and potential prospects.
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.
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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.
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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