Aircraft Sensors Market Panel Type to Reach USD 10.02 Billion in 2030 | Emergen Research

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Dec 21, 2022, 11:30 ET

VANCOUVER, B.C., Dec. 21, 2022 /PRNewswire/ -- The aircraft sensors market reached USD 4.40 Billion in 2021 and is expected to register a CAGR of 9.7% during the forecast period, according to latest analysis by Emergen Research. Technological advancements in Micro-Electrical Mechanical Systems (MEMS) technology are a key factor driving aircraft sensors market revenue growth.

Drivers:

Increasing investments in the development of Micro-Electrical Mechanical Systems and increasing demand for UAVs

Micro-Electro-Mechanical-Systems (MEMS) are small, intelligent systems that combine actuators, sensors, and a CPU or controller. MEMS are used in aerospace applications to increase performance and prolong durability while providing high-end capability at a low cost. MEMS has the ability to replace traditional flight control surfaces, improve the efficiency of turbines and compressors, decrease drag, and improve overall aerodynamic performance. In comparison to conventional systems, it gives a significant benefit in terms of size, weight, and price. One chip can include both the inertial and navigational units in their entirety.

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MEMS technology has advanced to the point that it can withstand challenging conditions like high heat, vibration, etc. This market will grow as MEMS technology becomes more popular in the aviation sector. UAVs make use of a variety of sensors to enhance vehicle performance or collect data. Other UAVs use a variety of advanced sensor technologies, including LIDAR sensors (Light Detection and Ranging), which are used for navigation and imaging purposes, in addition to conventional sensors like flight control sensors, flow & level, temperature & pressure, and others.

The growing use of UAVs by the military for worldwide Intelligence, Surveillance, and Reconnaissance (ISR) activities is anticipated to boost the expansion of the aircraft sensors industry. Additionally, the market is expected to grow as a result of the increased usage of UAVs in missions that pose a risk to human life and the rising desire for contemporary warfare tactics.

Restraints:

Stringent Regulations and Guidelines by Aviation Safety Agencies

Regarding the use of electronic components in the aviation industry, there are stringent standards and regulations that must be followed. Manufacturers must adhere to rules set forth by the Federal Aviation Administration regarding safety and design considerations (FAA). The FAA's regulations will prevent the market from expanding. For instance, the FAA planned to impose a USD 19.7 million penalty on the Boeing Company in March 2020 for allegedly installing sensor-containing equipment in 737 and 791 aircraft that had not been authorized as being compatible with the guiding systems.

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Growth Projections:

The aircraft sensors market is expected to register a CAGR of 9.7% over the forecast period and revenue is projected to increase from USD 4.40 Billion in 2021 to USD 10.02 Billion in 2030.

Current Trends and Innovations:

The sensors used in typical airplanes are connected via wired networks, which present issues with cable routing, noise, additional structural weight, and other things. In terms of flexibility in sensor configuration, design optimization, and weight optimization, the use of wireless sensors in aircraft has a number of noteworthy benefits. Wireless sensors are incorporated into the design of the new airplane. The primary advantage of wireless sensors over wired sensors is their light weight. The overall weight of the airplane is greatly increased by the weight of the electrical components, such as wires and cables. The OEMs are concentrating on lightening the aircraft to improve fuel efficiency, lower fuel costs, and lower carbon emissions. Therefore, the development of the aviation industry depends greatly on wireless sensors.

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Strategic Initiatives:

Major companies included in the market report are The BOSCH Group, Eaton Corporation, Trimble Inc., TDK Corporation, Meggitt PLC, Curtiss-Wright Corporation, General Electric Company, Ultra Electronics, Thales Group and Lockhead Martin Corporation.

· On August 18, 2021, L3Harris Technologies was given a 5-year, USD 96 million IDIQ contract by the U.S. Special Operations Command to purchase WESCAM MX-electro-optical, infrared, and laser designator sensor suites and services. The WESCAM MX-10D and WESCAM MX-15D sensor systems from L3Harris will give the U.S. Army Special Operations Aviation Command access to multispectral imaging and designation capabilities for a variety of its aircraft. For more than 20 years, L3Harris WESCAM MX-Series solutions have effectively supported U.S. Army aircraft programs. The U.S. Army has now awarded two contracts for airborne sensor programs in the last three years. In the first, WESCAM MX-10D EO/IR sensor suites were part of a USD 454 million, multi-year IDIQ deal that supported the Army's Tactical Unmanned Air Systems Shadow UAV (RQ-7Bv2) program.

Scope of Research

Report Details	Outcome
Market size in 2021	USD 4.40 Billion
CAGR (2022–2030)	9.7 %
Revenue forecast to 2030	USD 10.02 Billion
Base year for estimation	2021
Historical data	2019–2020
Forecast period	2022–2030
Quantitative units	Revenue in USD Billion and CAGR in % from 2022 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Sensor Type, Aircraft Type, End-Use, and Region.
Regional scope	North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Country scope	U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA
Key companies profiled	The BOSCH Group, Eaton Corporation, Trimble Inc., TDK Corporation, Meggitt PLC, Curtiss-Wright Corporation, General Electric Company, Ultra Electronics, Thales Group, and Lockhead Martin Corporation.
Customization scope	10 hours of free customization and expert consultation

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Emergen Research has segmented aircraft sensors market on the basis of sensor type, aircraft type, end-use, and region:

Sensor Type Outlook (Revenue, USD Billion; 2019–2030)

Proximity Sensors
Temperature Sensors
Optical Sensors
Pressure Sensors
Force Sensors
Flow Sensors
Radar Sensors
Others

Aircraft Type Outlook (Revenue, USD Billion; 2019–2030)

Fixed-Wing Aircraft
Rotary Wing Aircraft
Unmanned Aerial Vehicles
Advanced Air Mobility

End-Use Outlook (Revenue, USD Billion; 2019–2030)

OEM
Aftermarket

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