The Global Air Data Indicator Market Growth Is Accelerated By Emergence Of Digitalized Air Data Indicators

Air Data Indicator Market

Air data indicators play a crucial role in monitoring crucial flight parameters such as altitude, airspeed, vertical speed and others. Growing aircraft fleets, increasing complexities in aircraft systems and rising need for safety are driving demand for air data indicators. Technological advancements have paved way for digitalized air data indicators that have self-monitoring capabilities and provide real-time alerts in case of deviations. This has enhanced reliability and safety. The global Air Data Indicator Market is estimated to be valued at US$ 1.65 Bn in 2023 and is expected to exhibit a CAGR of 4.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The emergence of digitalized air data indicators has been a key trend shaping the market over the past few years. Digital air data indicators have replaced the conventional analog counterparts due to various advantages. Digital indicators have self-monitoring features that continuously track various parameters and alert pilots in case deviations are detected. This ensures timely rectification and prevents accidents. The digital sensors also interface with other flight control systems digitally to share real-time data for enhanced situational awareness. Manufacturers are increasingly focusing on developing more advanced digital air data indicators with integrated electronics and communication capabilities. This is expected to drive reliable decision making and enhance overall flight safety in the upcoming years.

Segment Analysis
Given the increasing adoption of advanced aircraft across various commercial and military applications, the commercial aircraft segment dominates the global air data indicator market. Also, the refurbishment and upgrade of existing aircraft fleets drives the demand for air data indicators from the aftermarket segment. However, with increasing defense budgets and new aircraft procurement projects worldwide, the military aircraft segment is expected to witness higher growth during the forecast period.

Key Takeaways
The global Air Data Indicator Market Growth  is expected to witness high growth over 2023-2030.

Regional analysis: North America currently dominates the global market and is expected to continue its dominance owing to the large fleet of commercial and military aircraft in the US. Furthermore, upgradation programs of existing aircraft by countries in Western Europe are driving the demand in this region. However, Asia Pacific is expected to be the fastest growing region supported by increasing aircraft procurement and modernization programs in India and China.

Key players: Key players operating in the air data indicator market are Mohawk Industries, IVC Group (Mohawk Industries subsidiary), Tarkett, Shaw Industries Group, Inc. (a subsidiary of Berkshire Hathaway Inc.), Armstrong Flooring, Inc., Mannington Mills, Inc., Beaulieu International Group, NOX Corporation, Forbo Holding AG, Interface, Inc.

For more insights, read- https://www.ukwebwire.com/air-data-indicator-market-trends-size-and-share-analysis/