Air Data Indicator Market Is Estimated To Witness High Growth Owing To Modernization Of Aircraft Fleet
An air data indicator is an aircraft instrumentation system that senses, calculates and displays aircraft airspeed, altitude and other flight data parameters derived from measurements of aircraft flight air data. It is a critical component of the instruments used for both commercial and general aviation. Modern air data indicators provide more features than traditional systems, such as graphing airspeed and altitude over time, barometric pressure displays, and digital data interfaces. The global air data indicator market is estimated to be valued at US$ 1.65 Bn or Mn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the global air data indicator market is primarily driven by the modernization of aging aircraft fleet across various countries. According to the United Nations World Tourism Organization, international tourist arrivals reached 1.5 billion globally in 2022, indicating significant growth opportunities for both commercial and general aviation. This has prompted airline operators and aircraft manufacturers to replace aging fleets with more modern and fuel-efficient aircraft models integrated with advanced avionics systems that require state-of-the-art air data indicators. Additionally, increasing air passenger traffic is expected to spur the demand for new aircraft deliveries over the forecast period. For instance, Boeing projects the need for over 42,000 new commercial aircraft valued at $7.2 trillion between 2023 and 2042. However, the high costs associated with aircraft instrumentation systems slightly hinder the market growth.
SWOT Analysis
Strength: The air data indicator market has seen strong growth in the aviation industry over the past few years. Advances in sensor technologies have improved accuracy and reliability. Manufacturers are also developing more compact and affordable systems.
Weakness: Maintenance and calibration of air data indicators can be complex and expensive. Failure of these critical systems during flight poses safety risks. Adverse weather also impacts sensor performance.
Opportunity: Development of next-generation aircraft concepts will drive demand for advanced air data sensing solutions. Integration of multiple parameters into intelligent systems presents new opportunities. Emerging economies are expanding their aviation sectors.
Threats: Economic slowdowns can negatively impact aircraft procurement cycles and aftermarket services. Strict regulatory standards increase certification costs. Alternative technologies may disrupt traditional sensor designs.
Key Takeaways
The global Air Data Indicator Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 1.65 billion by 2023, growing at a CAGR of 4.9% through 2030.
Regional analysis shows that North America currently dominates the market due to strong aviation demand. However, Asia Pacific is poised to become the fastest growing regional market.
Key players operating in the air data indicator market include Mohawk Industries, IVC Group, Shaw Industries Group, Inc., Armstrong Flooring, Inc., Mannington Mills, Inc., Beaulieu International Group, NOX Corporation, Forbo Holding AG, Interface, Inc. Mohawk Industries is the global leader with a wide portfolio of air data sensors. IVC Group is its main subsidiary focused on the aviation aftermarket.
For more insights, read- https://www.pressreleasebulletin.com/air-data-indicator-market-trends-size-and-share-analysis/
English
Arabic
Français
Español
Português
Deutsch
Dutch
Italiano
Russian
Romaian