PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258817
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1258817
According to Stratistics MRC, the Global Aircraft Switches Market is accounted for $2.56 billion in 2022 and is expected to reach $3.47 billion by 2028 growing at a CAGR of 5.2% during the forecast period. Aviation switches are triggers that are utilised in critical functions such as transmitting and receiving commands; as a result, aircraft switches must be reliable and easily accessible. They are used by the pilot and crew to monitor and control aircraft operations. These switches can be controlled manually or automatically. Furthermore, they are utilised by pilots for a variety of operations like as starting the engine, selecting air speed, controlling the electrical power supply, and others. Moreover, aircraft switches are employed in military aircraft for combat objectives such as managing ammunition.
According to the International Civil Aviation Organization (ICAO), with low-cost carriers (LCCs) transporting an expected 2 billion passengers in 2021.
As the demand for lightweight aircraft grows, so does the demand for aircraft fly-by-wire systems. Flight control systems that use processors to manage flight control inputs from the autopilot or pilot are referred to as fly-by-wire systems. It uses electrical switches to send equal electrical impulses to flight control actuators. The increasing demand for the installation of fly-by-wire systems in new aircraft is likely to support the growth of the aircraft switches market. Many advantages of a fly-by-wire system, such as reduced weight, effective control, enhanced dependability, and others, have increased system adoption, increasing demand for electrical aircraft switches.
Touchscreen models that are more intuitive are increasingly being used in modern aviation control concepts. The increasing development of technologies that are small in size and serve a variety of functions is predicted to reduce demand for traditional aircraft switches. Because of the increased desire for touchscreens to improve the user experience, conventional switches on the passenger side are projected to be phased out. The rising use of touchscreens for entertainment, communication, and other purposes is likely to stymie the market for traditional switches.
Aviation manufacturers have been able to broaden their product offerings as a result of the rising demand for aircraft. Also, the rising manufacture of new aeroplanes has raised demand for aircraft switches. Furthermore, rising defence spending in countries such as China, India, and Japan has increased demand for military aircraft. Defense aircraft transactions are projected to help the growth of the global aircraft switch.
The high production and installation costs of automatic switches versus manual switches are impeding the growth of the aircraft switches market. The requirement for regular and difficult maintenance may stymie the expansion of the aviation switches market throughout the projected period, causing circuit breakers to lose their share of passive switches. Systems must be highly sensitive and detective, requiring creative engineering techniques that are more expensive than the repair. The cost of such elements is also considered rather high, stifling market expansion.
Lockdowns in nations such as India, the United States, France, China, and others have disrupted the supply chain of aircraft and aircraft components, causing a setback for the sector. The delay in aircraft production and supply has hampered overall market growth. Even after May 2020, only about 75% of staff were available in shift rotations, raising order backlogs and lowering income for aeroplane switch makers. The loss of income owing to low passenger demand also resulted in the cancellation of new aircraft orders, resulting in a fall in demand for aircraft switches.
The rotary wing segment is estimated to have a lucrative growth. Its expansion can be ascribed to factors such as increased air travel, rising middle-class discretionary money, and increased international trade and tourism around the world. The strong growth in this sector has resulted in an increase in the number of aircraft orders to meet the rising demand for air travel. Manufacturers are currently focused on aeroplane switch components to provide more reliable, accurate, and efficient products. Software advancements have changed the human-machine interface of aircraft switches.
The cockpit segment is anticipated to witness the fastest CAGR growth during the forecast period, Because of advancements in business jet cockpit and interior systems. The cockpit has around 75% of the switches in an aircraft. For example, Bombardier's Challenger 3500 aircraft entered service in September 2022, ushering in a new era of innovation in cockpit and cabin technology, including a voice-control cabin management system. Furthermore, the increased emphasis on passenger and freighter aeroplanes will stimulate the demand for switches in cockpits.
North America is projected to hold the largest market share during the forecast period. The presence of important aircraft manufacturers as well as aircraft switch makers in the region is attributed to the region's growth. The United States is renowned as an aerospace hub due to the presence of major aerospace firms such as GE Aviation, the Boeing Company, Lockheed Martin Corporation, Raytheon Technologies Corporation, and others. Furthermore, prominent aircraft switch providers such as Honeywell International Inc., Curtiss-Wright Company, Collins Aerospace, and others are expected to fuel market expansion in North America.
Europe is projected to have the highest CAGR over the forecast period, considering the region's continuous aircraft company expansion and increased demand for electric aircraft. Governments such as France and the United Kingdom are investing in the research and development of anti-pollution aircraft. Cirrus Aircraft, for example, announced its global growth in April 2022, with investments in the Netherlands and France to meet rising client demand. Similarly, the region's increased procurement of military aircraft and strong emphasis on premium aircraft delivery will accelerate the use of aircraft switches.
Some of the key players profiled in the Aircraft Switches Market include: Eaton Corporation, Honeywell International Inc., Collins Aerospace, Electro-Mech Components Inc., Safran SA, Esterline Technologies, Meggitt PLC, Curtiss-Wright Corporation, Applied Avionics Inc., Unison LLC, Hydra-Electric Company, TE Connectivity, ITT Inc., Raytheon Technologies Corporation, Transdigm Group Inc. and Barantec.
In March 2021, Duncan Aviation's avionics team installed the Collins Aerospace Pro Line Fusion in a Challenger 604 aircraft. The Pro Line Fusion has features, such as fully connected and integrated avionics system with situational awareness and decision-making systems, and it can be integrated with advance switches and components.
In September 2020, Curtiss-Wright Corporation received a contract to provide Ethernet switch and flight computer for eVTOL air taxi. The company will supply its Parvus DuraCOR 311, a USFF embedded computer/controller; and the Parvus DuraNET 20-11, an eight-port Gigabit Ethernet switch.
In July 2018, Honeywell received a contract from Allegiant Air to provide maintenance, repair and overhaul services for its auxiliary power units and select avionics components for Airbus A319 and A320 aircraft.
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