23 December 2020
Market Overview:Disable Third Party Ads
The Global Aircraft Switches Market was worth $ 2.13 billion in 2018 and is expected to reach $ 3.2 billion by 2027, with a CAGR of 4.6% over the forecast period.
Aircraft switches, mostly limited to cockpit switches, have seen great innovation in recent times. The digitization of aircraft is also driving major changes in the design, customization and deployment of switching technology. This has already led to the introduction of LCD displays to outperform conventional pushbutton and rotary switches. In addition, new designs increasingly use touchscreen models that are more intuitive but, due to their digital nature, may be less reliable. The challenge of the market is to establish confidence in the new offerings and to build a small and diversified technology in its offer.
United Technologies Corp and Raytheon shook their hands to develop a new aerospace and defense venture that is likely to challenge the business pecking order.
Market Drivers and Restraints:
The high use of electronics in aviation systems and the increasing demand for inflight entertainment and connectivity are some of the factors driving the growth of the aircraft switches market. Additionally, the high use of switches in unmanned aerial vehicles (UAVs) and space applications provides opportunities for market growth. However, the growing touchscreen technology replacing manual switches is one of the limiting factors in the market. However, on the passenger side, conventional switches should definitely be thrown out the window. Consumers are increasingly interested in technology and digital consumption. The growing demand for touchscreens to communicate with airline personnel, to consume content and to take advantage of in-flight facilities is expected to continue to be an important growth path for new players in the global aircraft switch market. These are expected to remain the essential characteristics of commercial flights and turboprop aircraft.
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Report is segmented as:
Engine & Auxiliary Power Unit (APU)
Aircraft Cockpit Control
By End Users:
Original Equipment Manufacturer (OEM)
Military & Defense
Based on the geography, the global aircraft switches market is divided into regions of the Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these regions, the market for aircraft switches is projected to grow with the fastest CAGR in the Asia-Pacific region. The region is anticipated to record the highest demand for aircraft, which is credited to the surge in air passenger traffic that is encouraging the airline service providers to purchase new aircraft.
Key market players:
Some of the major players accounted in the Aircraft Switches market are United Technologies Corporation (Collins Aerospace), Unison Industries, TE Connectivity, Safran, Raytheon, Meggitt, ITT Aerospace, Hydra-Electric Company, Honeywell, Esterline Technologies, Eaton Corporation, Curtiss-Wright, C&K, Baran Advanced Technologies (Barantec) and Ametek.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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