Regional Analysis

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.