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Aircraft Sensors Market is Anticipated to Rise at a 6.4 % CAGR, Thanks to an Increase in Air Travel, Noted TMR

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News provided by

Transparency Market Research

16 Apr, 2019, 11:30 GMT

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ALBANY, New York, April 16, 2019 /PRNewswire/ -- The global aircraft sensors market displays a highly competitive vendor landscape owing to the presence of numerous market players striving to expand their frontiers globally, reports Transparency Market Research. The competition in this market is driven by high demand for aircraft travel and huge investments by private equity groups. The key players in the global aircraft sensors market include Zodiac Aerospace SA, UTC Aerospace Systems, Honeywell International, TE Connectivity Ltd, and AMETEK Inc. These companies are focusing on new product innovations and technological developments to increase their revenue share in the market. Additionally, they are emphasizing on mergers and acquisitions to strengthen their position in the market.

The global aircraft sensors market is anticipated to rise at a 6.4 % CAGR during the forecast period which is 2017 to 2022. The market was valued at US$1.8 bn in 2017 and is expected to be valued at US$2.5 Bn by 2022.

Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=31466

In terms of applications, the global aircraft sensors market is bifurcated into military, commercial, and general. Out of these, the commercial segment is anticipated to witness a stellar growth during the forecast period owing to a tremendously growing commercial sector.

Geographically, the aircraft sensors market is classified into North America, Asia Pacific excluding Japan, Japan, Europe, Middle East and Africa, and Latin America. North America is expected to dominate the market rising at a 7.0% CAGR during the forecast period. This is owing to a rapidly growing aircraft industry.

Request a Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=31466 

Adoption of the Internet of Things to Boost Growth

Embedded sensors facilitate an optimal working of the aircraft by providing feedback on a wide range of conditions of the aircraft. This makes it an integral part of the functioning of an aircraft, thereby propelling the global aircraft sensors market's growth. Moreover, the adoption of Internet of Things (IoT) for several operations needed to analyze plane health condition and baggage tracking is likely to increase demand for aircraft sensors. Consequently, major companies are increasingly investing in IoT, thus propelling the market's expansion.

Furthermore, an increasing production of commercial aircrafts owing to a rise in aircraft travel has led to a surge in demand for temperature sensors. This has impacted the aircraft sensors market favorably, thereby expediting its growth. In addition, need to minimize the complexity of the aircrafts has amplified the demand for wireless sensors. This has highly contributed to the growth of the aircraft sensors market.

Have Any Query? Ask Our Industry Expert: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=31466 

On the flipside, there are a few restraints that may cause a downfall in the global aircraft sensors market. Lack of skilled personnel to test the aircraft sensors may pose a threat to the market. Moreover, large number of orders for airlines impacting the productivity of aeronautical OEMs may thwart the market's expansion. Nonetheless, high demand for air travel owing to an increased disposable income in the developing countries may subside the effects of the restraints. In addition, a rise in importance of aircraft safety has increased the demand for aircraft sensors, thereby enhancing the growth prospects of the global aircraft sensors market.

Inflight Technology to Create New Avenues for the Market

Honeywell's inflight technology facilitates the activation of flight sensors by allowing the use of WiFi. Its JetWave hardware connects aircraft to Inmarsat's GX Aviation service which enables a reliable and fast inflight internet solution. This is one of the major developments occurring in the global aircraft sensors market and is expected to present new opportunities for its growth.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=31466 

The study presented here is based on a report by Transparency Market Research (TMR) titled "Aircraft Sensors Market (Product - Turbofan, Turboprop, and Turboshaft; Application - Commercial, Military, and General) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022."

Browse Press Release: https://www.transparencymarketresearch.com/pressrelease/aircraft-sensors-market.htm

The global Aircraft Sensors Market is segmented based on:

Application

  • Commercial
  • Military
  • General

Product

  • Turbofan
  • Turboprop
  • Turboshaft

 Regional Analysis

  • North America
  • Asia Pacific excluding Japan
  • Japan
  • Europe
  • The Middle East and Africa
  • Latin America

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About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
Research Blog: https://tmrblog.com/

Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg

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