What Has Been the Growth of the Aircraft Switches Market So Far?
The aircraft switches market has seen considerable growth due to a variety of factors.
• Over the past few years, the size of the aircraft switches market has seen a consistent rise. It is forecasted to grow from $2.4 billion in 2024 to $2.48 billion in 2025, witnessing a compound annual growth rate (CAGR) of 3.4%.
This growth during the historic period is due to rising air travel, adherence to regulations, expansion of aircraft fleets, and an emphasis on fuel efficiency.
What Can Be Expected from the Aircraft Switches Market in the Coming Years?
The aircraft switches market is expected to maintain its strong growth trajectory in upcoming years.
• The market for aircraft switches is projected to experience a sustained increase over the coming years. By 2029, it is anticipated to develop to a valuation of $2.97 billion, with a compound annual growth rate (CAGR) of 4.6%.
This projected rise can be linked to various factors such as the advent of next-generation aircraft, increased requirements for connectivity, urbanization expansion, inclusion of renewable energy, and global security concerns. Notable trends expected during this period are technological enhancements, growing demand for lightweight elements, automated and intelligent cockpit systems, growing attention towards enhancing passenger experiences, and rigorous safety and regulatory measures.
Which Drivers Are Accelerating Growth In The Aircraft Switches Market?
The expansion of the aircraft switches market is projected to be spurred by the rising demand for aircraft. An aircraft represents any vehicle engineered to fly, whether through the static or dynamic lift of an airfoil, or via direct downward thrust produced by its engines. Switches in an aircraft control and oversee a variety of aircraft systems and most of these are situated on the cockpit dashboard. This includes toggle switches, push-button switches, rocker switches, among others. For example, Airbus, an aviation and aerospace component manufacturer based in France, obtained around 99 aircraft orders in February 2023 and supplied about 66 aircraft to 42 other clients. It's also predicted that about 2,440 freighter airplanes will be needed in the upcoming two decades, with nearly 900 being brand new. Adding to this, Airbus expects a need for 39,490 new passenger and freighter planes by 2041. Thus, the growing demand for aircraft is propelling the aircraft switches market.
How Is the Aircraft Switches Market segmented?
The aircraft switches market covered in this report is segmented –
1) By Type: Manual, Automatic
2) By Platform: Fixed Wing, Rotary Wing
3) By Application: Aircraft Systems, Cockpit, Engine And APU, Avionics, Cabin, Other Applications
4) By End-User: Original Equipment Manufacturer (OEM), After market
Subsegments:
1) By Manual: Toggle Switches, Rocker Switches, Push Button Switches, Rotary Switches, Slide Switches
2) By Automatic: Proximity Switches, Pressure Switches, Temperature Switches, Relay Switches, Circuit Breakers
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What New Trends Are Influencing the Aircraft Switches Market?
The aircraft switch market's dominant players are focusing on technological advancements, exemplified by the Electric Aircraft Modification Program that addresses pressing industry demands. This program morphs aircraft into electric or hybrid-electric powered entities, slashing emissions and fuel requirements. In July 2022, CAE Inc., a Canadian flight training firm, ventured into an Electric Aircraft Modification Program in tandem with Piper Aircraft Inc. Their ambition is to transform Piper Archer® aircraft to run on electric propulsion, entailing creating a conversion kit to electrify a substantial part of CAE's training fleet of Piper Archers. Swiss firm H55, an expert in aerospace battery systems, will equip the initiative with the required battery kit and energy management framework. In addition to boosting training potentials, this program aligns with efforts made by the industry to advance towards more environmentally friendly aviation technologies. There is an expected significant impact of the electric models in cutting back carbon emissions and reducing fuel use in pilot training procedures.
Who Are the Key Players in the Aircraft Switches Market?
Major companies operating in the aircraft switches market include:
• Raytheon Technologies Corporation
• Honeywell International Inc.
• Collins Aerospace
• Safran Group
• Eaton Corporation
• Thales Group
• L3Harris Technologies Inc.
• TE Connectivity
• Ametek Inc.
• Transdigm Group Inc.
• Sensata Technologies Inc.
• GKN Aerospace Services Limited
• Crane Co.
• Woodward Inc.
• Meggitt PLC
• Triumph Group Inc.
• Carling Technologies Inc.
• ITT Inc.
• Astronics Corporation
• The NORDAM Group LLC
• Dukes Aerospace Inc.
• C&K Components Inc.
• Hydra-Electric Company
• Electro-Mech Components Inc.
• Meggit Avionics
• Smiths Group plc
• Cobham plc
What Is The Most Dominant Region In The Aircraft Switches Market?
North America was the largest region in the aircraft switches market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global aircraft switches market during the forecast period. The regions covered in the aircraft switches market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
