Air data indicators provide critical flight information like airspeeds, altitudes and temperatures during flight operations. They allow pilots to precisely navigate through diverse weather conditions and airport environments. Devices like pitot probes and static ports collect airflow data which air data indicators analyze and display in an easy-to-read format. Their accuracy enables complex maneuvers and flight planning.
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 demand for precise flight navigation tools from the commercial and military aviation sectors is a key factor driving the growth of the air data indicator market. Air data indicators provide critical data to onboard flight management systems which rely on accurate real-time information to calculate optimum flight paths and fuel consumption. With rising air traffic levels globally, airlines are procuring new aircraft fitted with advanced avionics and automation technologies. This is accelerating the replacement of conventional air data measurement components with integrated digital systems for superior reliability. Furthermore, the ongoing modernization of ageing military fleets involves upgrading aircraft with latest sensors and displays including smart air data transducers. The development of lightweight, miniaturized air data systems for Unmanned Aerial Vehicles (UAVs) is another area witnessing considerable innovation.
Segment Analysis
The global air data indicator market is segmented by aircraft type, installation type, application, and geography. Based on aircraft type, the market is bifurcated into commercial aviation and military aviation sub-segments. The commercial aviation segment dominates the market and accounts for more than 60% share owing to the high demand for air data indicator from commercial airliners.
Key Takeaways
The global Air Data Indicator Market Share is expected to witness high growth during the forecast period of 2024 to 2031.
Regional analysis: North America currently dominates the global air data indicator market led by factors such as increasing air passenger traffic and modernization initiatives in defense aircraft fleets in the US and Canada. Asia Pacific is expected to witness the fastest growth in the air data indicator market over the forecast period owing to rising aircraft procurement along with air passenger traffic in emerging economies like China and India.
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. The major players are focusing on new product launches and partnerships with airliner manufacturers to strengthen their presence across major aviation hubs.
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