by Air data indicators play an important role in applications such as aircraft altitude navigation and airspeed determination. They provide accurate altimeter readings, total air temperature, and other vital information through an array of sensors included in the system. Multi-functional air data indicators are gaining prominence as they offer air data measurements and health monitoring of multiple sensors with simplified wiring. The adoption of such advanced and integrated systems is fueling growth of the global air data indicator market.
The global Air Data Indicator Market is estimated to be valued at US$ 1.91 Bn in 2024 and is expected to exhibit a CAGR of 13.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The increasing adoption of multi-functional air data indicator systems is one of the major trends being witnessed in the global market. These systems offer integration of various sensors for measuring parameters like airspeed, altitude and outside air temperature on a single unit with simplified wiring architecture. Compared to conventional single purpose indicators, multi-functional systems reduce installation time and cost while providing pilot with critical flight data on single or multiple displays. Major aircraft manufacturers are focusing on designing aircraft with integrated avionics suites having multi-functional air data indicators. This is expected to drive the demand for such advanced systems during the forecast period.
SWOT Analysis
Strength: The air data indicator market is witnessing strong growth owing to increasing aircraft orders and fleet sizes. Air data indicators provide critical flight data parameters to pilots for safe flight operations.
Weakness: High maintenance and servicing costs associated with air data indicators can be a major restraint. Regular sensor calibration is required which increases operating expenses.
Opportunity: Developments in smart sensor technologies provide an opportunity to enhance functionality and reduce maintenance needs of air data indicators. Integration of air data indicators with advanced aircraft systems opens up new growth prospects.
Threats: Volatility in raw material prices used in air data indicators affects production costs. Economic downturns and geopolitical issues impacting the aviation industry pose threats to market growth.
Key Takeaways
The Air Data Indicator Market Share is expected to witness high growth over the forecast period.
Regional analysis: North America is currently the largest market for air data indicators due to major fleets of commercial and military aircraft in the US. Increasing aircraft procurement by carriers and defense upgrading programs will sustain demand growth.
Key players operating in the air data indicator market are Tilray, Aphria, Inc., Wayland Group Corp., Aurora Cannabis, Canopy Growth Corporation, and GW Pharmaceuticals, Plc., among others. These companies are focusing on developing smart sensor technologies and integrating data indicators with advanced flight control and management systems.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
