Automotive and the aerospace industries have undergone a radical change in terms of innovations and development as demand for vehicles and air travel continue to increase. Since the beginning of the era of automation, aftermarkets for automotive and aerospace have gained more ground across developed and emerging economies. This has supported the proliferation of advanced internal systems such as yaw rate sensors in automobiles and aircrafts, in turn supporting the growth of Yaw Rate Sensors Market.
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Apart from aftermarkets, OEMs have started integration of yaw rate sensors in vehicles providing maximum assurance in terms of vehicle stability. So is the case with aircrafts, wherein yaw rate sensors ensure efficient stability while takeoff and overall flight control.
Safety being a crucial parameter, manufacturers of automobiles have integrated yaw rate sensors with electronic stability control in vehicles. A comparison between predetermined yaw rate and actual yaw rate of vehicle is displayed on screen using which corrective measure can be undertaken to enable vehicle realignment. That said, increasing number of passenger car manufacturing, particularly across emerging nations such as China and India, is likely to fuel the demand and sales of yaw rate sensors, in turn supporting their market’s growth. In addition, replacement of yaw rate sensors is yet another sales funnel for yaw rate sensors’ manufacturers who can target potential aftermarkets, especially in the United States and countries of Europe.
The ever increasing urbanization, coupled with huge demand for automation has mandated the requirement for various safety sensors among different end-use industries and the automobile and aerospace industries are not left untouched from the same. Various sensors are used in automobile and aircrafts, which provide precision as well as ease in operation, while ensuring safety of the vehicles. Yaw rate sensor is a gyroscopic device, which is commonly used in cars, and identifies the angular velocity of vehicles around its vertical axis. It acts as a vital component in vehicles’ electronic stability control systems. Yaw rate sensors are basically classified into two main type i.e. piezoelectric type and micromechanical (MEMS) type. The concept behind installation or function of sensors in the automotive industry is primarily driven by the requirement for safety of passengers and to provide the information to ESC (Electronic Control System) for controlling the yaw moment. The sensors are mainly intended to increase the reliability of the associated systems, a property which is also used as a marketing collateral by manufacturers. Considering these important aspects of applications and relative ease in product availability, the demand for yaw rate sensors is expected to increase over the forecast period (2018–2028), creating significant growth opportunities for manufacturers across the globe.
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The global yaw sensors market is highly dependent on the adoption of automation in respective automobile and aircraft systems. Infrastructural growth, mounting urbanization, and increasing per capita income as well as purchasing power capacity of consumers are driving the macroeconomic growth of the automotive industry, in turn creating market space for yaw rate sensors. The automobile and aerospace systems with better and advanced sensors are gaining traction in the global market, which is further expected to push their market globally. On the other hand, the sensors involve higher technology requirement which increases the cost of manufacturing and maintenance of the systems. Maintaining overall vehicle cost at competitive level, along with providing optimum safety and control is therefore expected to remain a key challenge for automobile companies, sequentially shifting part of the pricing pressure on yaw rate sensor market players as well.
In order to identify related opportunities based on product type and end use industries in respective regions, the global yaw rate sensor market is studied under various regional segments. The market in Americas is estimated to provide sizeable opportunities owing to well-established aerospace and automotive industry. The European region has been estimated to hold significant position in the market on account of stable automotive manufacturing. Rapidly growing urbanization and industrialization has significantly helped the automotive and aerospace industry in the APAC region to grow, with China emerging as a key automobile manufacturer in the world. For the same, the APAC market is expected to witness high market value as well as growth opportunities over the forecast period 2018–2028.
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