Acoustic wave sensors are expected to show good growth across different application segments due to their competitive advantages over the other technologies. As of now, temperature, pressure, torque, and viscosity sensors are the only ones to have reached complete commercialization but we predict a healthy growth of the other sensors as well in future as more applications of acoustic wave sensors get realized in the years to come. Acoustic wave temperature and pressure sensors are increasingly used in automotive and industrial applications with some applications of torque sensors as well.
Military and aerospace applications that provide immediate and continuous process control and machine health information. Acoustic wave sensor market for military and aerospace segment is the third largest ones in terms of value. It forms nearly 13% of the total acoustic wave sensor market. Acoustic wave sensors found numerous applications in aerospace. Microwave components, Structural health monitoring (T, P, stress, etc), nose wheel steering systems, cockpit control systems, engine bleed systems, Leak detection (H2, CH4, other vapors), fuel control systems, rotor tilt, drive control systems and suspension monitoring and control, and auxiliary generators are the few potential applications.
This market was valued at $35 million in 2012 and is expected to reach $100 million in 2018, at an estimated CAGR of 20.8% from 2013 to 2018. North America commanded the largest share in 2012; with a market size of $16 million. This market is expected to reach $30 million by 2018, at an estimated CAGR of 11.6% from 2013 to 2018. APAC is expected to be the biggest market for military and aerospace by 2018. APAC’s market was valued at $5 million in 2012 but it is expected to reach $34 million in 2018 at an estimated CAGR of 35.9% from 2013 to 2018.
Low manufacturing cost and further reduction in prices of these sensors throughout the forecasted period will be amongst the strong factors for increasing their consumption in fast growing application like automotives and healthcare. Europe leads in terms of revenue generation with most of the acoustic wave device manufacturers based there. The fastest growth is expected from APAC which offers great potential for acoustic wave sensors for various applications especially automotives and industrial segment.
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