Altimeter also known as altitude meter, is an instrument that is used to measure altitude from a certain location. Altimeters are used in airplanes, helicopters, and various other types of aircrafts. There are mainly two types of altimeters – radio altimeter and barometric altimeter. Biometric altimeter is used in adventure sports such as trekking, skiing, skydiving, etc. These devices are cost effective, highly precise, efficient, and reliable.
Major factor driving growth of the global altimeter market is increasing number of commercial aircrafts, due to rising preference for air travel among individuals. However, GPS altimeter is less accurate than barometric altimeter and requires calibration with varying temperature. These factors may hamper growth of the global altimeter market.
The global altimeter market report has been segmented on the basis of display, application, and region. On the basis of display, the market is segmented into digital visual altimeters, analog visual altimeters, auxiliary visual altimeters, and audible altimeters. On the basis of application, the market is segmented into commercial sector, defense sector, and adventure sports. Adventure segment anticipated to witness high growth in terms of revenue over the forecast period, owing to increasing participation in adventure sports among individuals.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Market in North America dominates the global market in terms of revenue, owing to presence of key players in this region. In addition, growing number of commercial aircrafts is another factor fueling growth of the target market in this region. The market in Asia Pacific is expected to witness fastest growth in terms of revenue in the global market, owing to increasing investment in aviation sector especially in emerging economies in this region. Revenue of Europe market is expected to witness lucrative growth followed by Latin America, and Middle East and Africa.
Key players operating in the global altimeter market include Garmin International, Inc., AeroControlex Group, Inc., Honeywell Aerospace Inc., UTC Aerospace Systems, Thales S.A., Rockwell Collins, Inc., TransDigm Group Inc., United Technologies Corporation, Sunroad Technology Limited, Kollsman, Inc.