“Growing influence of electronics in aircraft is expected to drive the aircraft switches market growth.”
The aircraft switches market size is expected to grow from USD 2.2 billion in 2019 to USD 2.6 billion by 2025, at a CAGR of 3.2% during the forecast period. In today’s age, digitalization and electronics are the megatrends which are being implemented in aircraft. What used to be manual controls connected with mechanical linkages, were replaced by electric wires that carry signals that are input via computers and the switches controlling the computers. Automation in the form of sensors switches sense parameters such as temperature and pressure, among others, detects information and are required to perform the switching operation based on the data they collect.
Aircraft systems in the application segment are expected to grow at the highest CAGR during the forecast period.
Aircraft systems in the application segment are expected to be the fastest-growing during the forecast period. Aircraft systems include hydraulic and pneumatic control systems. A hydraulic system such as landing gear, flaps, slats, and thrust reversers as well as pneumatic systems such as environmental control system, doors, and emergency slides, among others require switches such as temperature, limit and pressure switches to perform the necessary switching action related to these systems.
In terms of type, manual switches expected to lead the market for aircraft switches during the forecast period.
Manual switches are expected to be the largest consumed product type during the forecast period. Manual switches are electromechanical switches that are operated by humans by activating the electrical circuit by performing a mechanical action based on the kind of switch it is. They need to be operated manually. These switches are further termed as push, toggle, rocker, and selector, based on how they perform their switching action.
Asia Pacific aircraft switches market is expected to grow at the highest growth rate during the forecast period.
The aircraft switches market in the Asia Pacific region is projected to grow at the highest CAGR market during the forecast period. Countries in this region are upgrading their capabilities by undertaking developments in the field of aircraft switches. The rise in demand for low-cost carriers (LCCs) in the Asia Pacific region is one of the factors driving the growth of the global aircraft switches market as it has led to increased aircraft orders within the region. In addition, with the GDP forecast to rise in the next ten years, developing countries such as China and India have huge potential in the market. China, in recent times, has become a market for substantial foreign investments due to the stable growth and the robust developments made within the economy.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation & technology directors, and executives from various key organizations operating in the aircraft switches marketplace.
By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
By Designation: C-level Executives: 35%, Directors: 25%, and Others 40%
By Region: North America: 45%, Europe: 20%, Asia Pacific: 30%, and RoW: 5%
The aircraft switches market comprises major solution providers such as Safran (France), Curtiss-Wright (US), Esterline Technologies (US), Honeywell (US), Meggitt (UK), and United Technologies Corporation (Collins Aerospace) (US). The study includes an in-depth competitive analysis of these key players in the aircraft switches market, with their company profiles, recent developments, and key market strategies.
The study covers the aircraft switches market and aims at estimating the market size and growth potential across different segments, such as end user, application, platform, type, and region. The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will provide market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft switches market and its subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.