by Air data indicators help pilots view crucial flight data from an air data computer and pressure-based sensors in the pitot-static system. It displays parameters such as airspeed, altitude, Mach number and vertical speed to aid piloting of an aircraft. These indicators are popular for general and commercial aviation as they provide vital data to pilots for navigation and situational awareness during various flight situations. With the increasing production of modern aircraft by manufacturers to meet the rising air traffic, the demand for air data indicators has risen significantly. These indicators offer advantages such as high accuracy, minimal maintenance needs and resistance to electromagnetic interference which aircraft manufacturers prefer for improved aircraft performance and safety.
The global Air Data Indicator Market is estimated to be valued at US$ 1.91 billion 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 introduction of digital air data indicators is a key trend gaining traction in the market. Unlike analog indicators, digital indicators take flight data from air data computers and display it on electronic screens in a digital format instead of analog dials and pointers. This allows for improved readability of parameters, multi-function display and compatibility with glass cockpit avionics technology adopted in modern aircraft. Many aircraft manufacturers are integrating digital indicators to offer pilots next-generation cockpit displays with features such as touchscreens, reconfigurable screens and data sharing capabilities. This transition to digital is expected to drive replacement demand and new aircraft installations of air data indicators during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the air data indicator market as there are high costs involved in developing new air data indicators which requires specialized skills and expertise.
Bargaining power of buyers: The bargaining power of buyers is high since air data indicators are safety critical components and buyers can negotiate on price and demand high quality from suppliers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as they cater to a niche but growing market. However, buyers have a variety of global suppliers to choose from.
Threat of new substitutes: The threat of new substitutes is low as air data indicators are specialized instruments without direct substitutes performing same functions.
Competitive rivalry: The competitive rivalry is high among the major players operating globally.
Key Takeaways
The global Air Data Indicator Market Share is expected to witness high growth over the forecast period.
Regional analysis: North America is expected to dominate the market over the forecast period supported by large fleet size of commercial aircraft and presence of major OEMs in the region. Asia Pacific is expected to exhibit fastest growth attributed to increasing aircraft procurement in the region.
Key players: 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. Tilray is a major player focusing on growth through strategic collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
