Altimeter Market Technological Advancements, Growth Opportunity and Forecast 2018-2026
An altimeter is a device
used to determine the altitude attained by any object above a fixed level. A
barometer or a radar fitted in the aircrafts is an example of altimeter.
Altimeters are used by pilots for navigating aircrafts and spacecraft to monitor
their height above the earth’s surface. Altimeters are also used by
mountaineers and sky divers to pinpoint their location.
Increasing number of
commercial aircrafts is major driving factor for growth of the altimeter market
Altimeter is very
important device for determination of altitudes, hence it is primarily used in
every type of aircraft. The market for commercial airlines are flourishing
globally. Traveling
anywhere across the globe has become easier and less time consuming due to
aviation industry. Hence, there has been a substantial increase in the number of
air passengers. For instance, according to International Civil Aviation
Organization (ICAO), the total number of air passengers increased to 3.8
billion in 2016, which was 6.8% higher than 2015, which is propelling demand
for introduction of more number of aircrafts in order to expand the network for
air travel, which in turn is propelling demand for Altimeter. Therefore,
increase in the number of aircrafts is driving growth of the altimeter market.
Increasing government
investment in fighter aircrafts is accelerating growth of the market
Increasing investment by
government of various countries for fighter aircrafts plays a major role for
the growth of the market. For instance, in 2017, the government of Canada
announced to purchase 88 advanced fighter aircraft for Canadian safety and
security. Furthermore, in April 2018, the Indian Air Force announced acquire a
fleet of 110 fighter jets. The use of altimeters is very primary in Air Force air crafts
or Navy jets, for pilot monitoring. The typical type of altimeters used in
military aircrafts are the radar altimeters to fly quite low over the land
and the sea to avoid radar detection and targeting
by anti-aircraft guns or surface-to-air missiles. A related use
of radar Altimeter technology is terrain-following radar, which
allows fighter bombers to fly at very low
Altitudes.
Altimeter Market:
Regional Insight
On the basis of region,
altimeters market is segmented into North America, Europe, Asia Pacific, Latin
America, Middle East and Africa.
Asia Pacific is expected
to be the fastest growing region in altimeters market over the forecast period.
India, China, Japan are some of the major countries driving growth of the
market in Asia Pacific. As per the April 2018, press release by
International Air Transport Association (IATA), Asia pacific had the highest
market share of 33.7% of the total air passenger traffic across the global, in
the month of February 2018. Thus, the growth for altimeter market is majorly
driven in the Asia Pacific region pertaining to the increasing demand for air
crafts to handle increasing number of air passengers. Furthermore, introduction
of emerging airlines in India have accelerated growth of the market in Asia
Pacific. For instance, some of the new entry airlines in India are Air Deccan
(2017), Vistara (2015), TruJet (2015), Luwang Air (2018), Quikjet Airlines
(2016), and Fly Divine (2017).
North America held the
dominant position in the market in 2017 and is projected to retain its
dominance throughout the forecast period. The U.S. and Canada are major
countries driving growth of the market in this region, owing to presence of
major aircraft manufacturing companies such as Boeing Company, Lockheed Martin,
United Technologies Corporation, General Dynamics Corporation in United States. Altimeters is
important device for pilot monitoring in fighter planes, which is driving
growth of the market in the North America.
Altimeter Market:
Competitive Insight
Key players operating in
altimeter market include Garmin International Inc., Aerocontrolex Group
Inc., Honeywell Aerospace, UTC Aerospace Systems, Thales Group, Rockwell
Collins, Transdigm Group, and United Technologies.
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