VIBRATION SENSOR MARKET ANALYSIS

Regional Analysis

Global Vibration Sensor Market: Regional Insights  

On the basis of region, the global vibration sensor market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global vibration sensor market and is expected to retain its dominance over the forecast period, owing to increasing usage of vibration sensors in the airline industry. According to the International Air Transport Association (IATA), demand for airlines in North America increased by 2.6% from 2014 to 2016. Airlines in this region is expected to exhibit the strongest financial performance with net profit of US$ 16.4 billion in 2018.

Furthermore, Asia Pacific is expected to exhibit the highest growth in the global market. This is owing to increasing demand for vibration sensors in growing aviation industry in emerging economies in the region such as India and China. For instance, according to the International Air Transport Association (IATA), Asia Pacific will exhibit highest demand for airlines from 2015-2035, as more than half of the passenger traffic is expected to come from Asia Pacific region. By 2024, China will be replacing the U.S. as the world’s largest aviation market. India will displace the U.K. for third place in 2025, while Indonesia Japan will be ranked 5^th and 7^th respectively.