Pitot tubes and altitude meters are some of the most important parts of the aircraft. The altitude meter or altimeter is used to measure the altitude of an object, while pitot tube used for measuring pressure and fluid flow velocity. Both these systems are highly useful in the aerospace and defense industries. Growing demand for these products is mainly driven by the recovery of these industries from the economic crisis and growth in the air traffic across the world. According to the experts, the global altimeter system and pitot tube market is expected to witness steady growth. The industry is also expected to witness strong business opportunities across different parts of the world…
Scope of Research and Segments in the Industry
Different products available in the altimeter system market include pressure, laser, GPS altimeters, and radars. The pitot tube market includes products like L shape, S shape and straight shaped tubes. The sensors available in the global altimeter system market include air data boom, total air temperature sensors, and angle of attack sensors. The global market is segmented on the basis of the demand for these products witnessed by the different geographic regions. These regions mainly include Asia Pacific, Europe, North America, and rest of the world. All these segments are divided further on the basis of the significant contribution and demand from the countries.
Drivers, Restraints & Opportunities
According to the experts, the global altimeter system and pitot tube market is strongly driven by the rising air traffic and growing demand for high quality avionic instruments from different parts of the world. Changing rules and regulations by different aviation safety agencies are also expected to drive the industry at a steady rate. Major restraints for the industry include budget cuts and regulatory changes from governments, installation and maintenance troubles, limitations of the radar altimeters, and instrument errors in the conventional pitot tube and altimeter systems available in the market. However, the industry is said to witness impressive business opportunities in the near future.
As per the experts, the global altimeter system and pitot tube market is expected to maintain a steady CAGR of over 3% from 2014 to 2019. At the estimated growth rate, the market is expected to reach past $187.72 million by the end of the year 2020. In 2014, the market is estimated to be poised at $155.30 million in 2014. Increasing demand from the global aviation companies and advancing technologies are expected to create strong demand in the market during the next few years to come. Emerging regions like Asia Pacific, Latin America, Middle East and Africa are also expected to witness impressive growth in the years to come.