Market Size of Aerospace Pressure Gauge Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 18.41 Million |
| Market Size (2029) | USD 21.30 Million |
| CAGR (2024 - 2029) | 2.95 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Aerospace Pressure Gauge Market Analysis
The Aerospace Pressure Gauge Market size is estimated at USD 18.41 million in 2024, and is expected to reach USD 21.30 million by 2029, growing at a CAGR of 2.95% during the forecast period (2024-2029).
Rising demand for new aircraft due to the growing number of air travelers creates demand for aircraft parts and components, which drives the market's growth. An aircraft has several instruments that inform the pilot about the aircraft’s condition and flight situations by measuring pressure. The pressure-sensing instruments are installed in the flight group and the engine group. These components can be either remote sensing or direct reading. These are the most critical instruments on the aircraft and accurately inform the pilot to maintain safe operations.
An increase in demand for new aircraft and growing investment in aircraft modernization programs drive market growth. There are different types of pressure gauges, such as fuel pressure gauges, hydraulic pressure gauges, manifold pressure gauges, oil pressure gauges, and others used in an aircraft. An aircraft fuel pressure gauge is a device that measures and reports the quantity of fuel remaining in a vehicle's tank(s). Thus, the growing expansion of the aviation sector will drive market growth in the coming years. On the other hand, issues related to pointer deviation and fuzzy dial numbers created errors that affected the flight test. Such factors hamper market growth.
Aerospace Pressure Gauge Industry Segmentation
A pressure gauge measures the intensity of gas, fluid, water, or steam in a pressure-powered machine to ensure no leaks or pressure changes.
The aerospace pressure gauge market is segmented based on type, application, and geography. By type, the market is segmented into analog and digital. By application, the market is classified into commercial aviation and military aviation. The report also covers the market sizes and forecasts for the aerospace pressure gauge market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
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| Analog | |
| Digital |
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Aerospace Pressure Gauge Market Size Summary
The aerospace pressure gauge market is poised for steady growth over the forecast period, driven by the increasing demand for new aircraft and the expansion of the aviation sector. As air travel continues to rise, there is a corresponding need for aircraft components, including pressure gauges, which are essential for monitoring various flight and engine conditions. These instruments, whether remote sensing or direct reading, play a critical role in ensuring safe aircraft operations by providing accurate pressure measurements. The market is also experiencing a shift towards digital pressure gauges, which offer enhanced accuracy and the ability to convert pressure readings into electronic signals for better control and monitoring. Innovations in this segment, such as those introduced by Newbow Aerospace and Meggitt PLC, are expected to further propel market growth.
The Asia-Pacific region is anticipated to witness significant market expansion, fueled by increasing air traffic, the construction of new airports, and rising investments in the aviation sector, particularly in countries like China and India. The region's growth is supported by government initiatives to expand airport infrastructure, which in turn drives demand for aerospace components, including pressure gauges. The market is characterized by a fragmented landscape with numerous suppliers, including prominent players like UMA, Inc., Ahlers Aerospace, Inc., and L3Harris Technologies, Inc. These companies are focusing on developing innovative solutions to meet the evolving needs of the aviation industry. Despite challenges such as pointer deviation and fuzzy dial numbers, the market's growth trajectory remains positive, supported by ongoing investments in research and development and the modernization of aircraft systems.
Aerospace Pressure Gauge Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porters 5 Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Analog
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2.1.2 Digital
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2.2 By Application
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2.2.1 Commercial Aviation
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2.2.2 Military Aviation
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 France
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2.3.2.3 Germany
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2.3.2.4 Russia
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2.3.2.5 Rest of Europe
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2.3.3 Asia Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 South Korea
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2.3.3.5 Rest of Asia Pacific
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2.3.4 Latin America
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2.3.4.1 Brazil
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2.3.4.2 Rest of Latin America
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 Saudi Arabia
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2.3.5.3 South Africa
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2.3.5.4 Rest of Middle East and Africa
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Aerospace Pressure Gauge Market Size FAQs
How big is the Aerospace Pressure Gauge Market?
The Aerospace Pressure Gauge Market size is expected to reach USD 18.41 million in 2024 and grow at a CAGR of 2.95% to reach USD 21.30 million by 2029.
What is the current Aerospace Pressure Gauge Market size?
In 2024, the Aerospace Pressure Gauge Market size is expected to reach USD 18.41 million.
