Analyst Frost & Sullivan Finds Market Earned Revenue Of $1.24 Billion
In 2013, for the third year in a row, the annual global production of commercial aircraft crossed 1,000 aircraft per year. In the next 20 years, the aerospace industry is expected to have an additional 34,000 commercial aircraft. The frenzied activity in this industry is expected to ripple into the sensor market. Sensor manufacturers have been developing technologically superior sensors to keep pace with airlines, which are updating their fleets with new fuel-efficient aircraft in order to stay competitive.