Aircraft Switches Global Market Report 2024

Aircraft switches are specialized switches designed specifically for use in aircraft. These switches play a crucial role in controlling various electrical systems and components within the aircraft. Additionally, they can be employed to manage movable elements of the aircraft, such as landing gear or flaps, facilitating necessary adjustments, especially in emergency landing situations. The design and functionality of aircraft switches are tailored to meet the specific operational requirements and safety standards of aviation environments.

Aircraft switches come in two main types such as manual and automatic. Manual switches are operated or controlled by hand, often requiring physical input. These switches find application across various platforms, including fixed-wing and rotary-wing aircraft. They are utilized in different areas such as aircraft systems, cockpit controls, engine and auxiliary power unit (APU) systems, avionics, cabin functionalities, and other related components. The end-users of aircraft switches include Original Equipment Manufacturers (OEM) and the aftermarket segment within the aviation industry.

The aircraft switches market research report is one of a series of new reports from The Business Research Company that provides aircraft switches market statistics, including aircraft switches industry global market size, regional shares, competitors with a aircraft switches market share, detailed aircraft switches market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft switches industry. This aircraft switches market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The aircraft switches market size has grown steadily in recent years. It will grow from $2.34 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. Historical growth can be attributed to the escalation in air travel, adherence to regulatory compliance, expansion of aircraft fleets, and a heightened focus on achieving fuel efficiency within the aviation industry.

The aircraft switches market size is expected to see steady growth in the next few years. It will grow to $2.89 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. Forecasted growth stems from next-gen aircraft, increased connectivity needs, urbanization, renewable energy integration, and global security concerns. Key trends include technological advancements, lightweight component demand, automation in cockpits, focus on passenger experience, and strict safety standards.

The surge in demand for aircraft is expected to significantly influence the growth of the aircraft switches market. Aircraft, designed for flight using static lift or dynamic lift of an airfoil, rely on switches to control and monitor various systems. These switches, found predominantly on the cockpit dashboard, encompass toggle switches, push-button switches, rocker switches, and other variations. For instance, Airbus, a prominent France-based aviation and aerospace component manufacturer, received approximately 99 aircraft orders in February 2023 and successfully delivered about 66 aircraft to 42 clients. Projections indicate a burgeoning requirement for 2,440 freighter planes over the next two decades, with an estimated 900 being newly constructed. Furthermore, Airbus anticipates a substantial demand for 39,490 new passenger and freighter aircraft by 2041. This escalating demand for aircraft is a primary driver propelling the aircraft switches market, as the increased production and deployment of aircraft necessitates a proportional need for switches to operate and manage these systems efficiently.

The anticipated rise in defense spending is poised to significantly propel the aircraft switches market forward. Defense spending encompasses the financial resources allocated by governments to support various military activities, spanning personnel, equipment, research, and operational needs, all aimed at bolstering national security and defense capabilities. Increased defense spending often contributes to the development and acquisition of aircraft switches equipped with redundant systems and fail-safe mechanisms, ensuring safe operation even in scenarios of component failure. For instance, data from the World Bank's Open Data platform revealed a substantial surge in US military expenditure (current USD) from $50.5 billion to $804 billion between 1960 and 2022, marking an impressive 1,593% increase. This surge in defense spending serves as a significant catalyst driving the growth of the aircraft switches market, as heightened investments in defense sectors worldwide drive the need for advanced and reliable switches to support military aircraft operations and safety measures.

Product innovation stands out as a prominent trend gaining traction within the aircraft switches market. Major industry players are dedicatedly engaged in the development of innovative products to fortify their positions and gain a competitive edge. For instance, in April 2021, EnOcean GmbH, a Germany-based provider of wireless services, introduced a groundbreaking product called the PTM 202, a kinetic switch module designed for radio-based toggle switches. An intriguing feature of the PTM 202 is its battery-free operation, relying on energy derived from the press of a button. This innovative module harnesses power through an electro-dynamic generator known as the ECO 200, activated by pushing either side of its top section to the far end position. This novel approach to aircraft switches demonstrates EnOcean GmbH's commitment to pioneering sustainable and efficient solutions within the aircraft switches market, showcasing the integration of innovative technologies to address industry needs.

Prominent companies within the aircraft switches market are increasingly adopting a strategic partnership approach to elevate aircraft preheating and power switching systems. Strategic partnerships entail leveraging mutual strengths and resources to attain shared benefits and overall success. An exemplary instance occurred in February 2021 when Tanis Aircraft Products, a US-based manufacturer specializing in aircraft engine preheat systems, joined forces with SwitcheOn, a New Zealand-based tech company renowned for creating user-friendly, universally compatible, and cost-effective products. This strategic alliance aims to redefine aircraft switches by focusing on enhancing user experience, diversifying product offerings, and reinforcing market competitiveness through the introduction of innovative and integrated solutions. By combining their expertise and capabilities, Tanis Aircraft Products and SwitcheOn seek to introduce cutting-edge advancements within the aircraft switches domain, demonstrating a collaborative approach to drive innovation and address industry requirements.

In September 2022, Parker-Hannifin Corporation, a US-based provider of motion and control technologies, completed the acquisition of Meggitt Plc. for $7.87 billion. This substantial acquisition is poised to significantly enhance Parker's capabilities, allowing for an expanded array of solutions concerning aircraft and aero-engine components and systems. This strategic initiative is integral to Parker's portfolio transformation, geared towards greater involvement in longer-cycle, robust businesses well-positioned to capitalize on sustained growth trends. Meggitt PLC, headquartered in the UK, specializes in manufacturing aviation and aerospace components.

Major companies operating in the aircraft switches market report are 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., Wright Corporation, Woodward Inc., Meggitt PLC, Esterline Technologies Corporation, Marquardt Group, Triumph Group Inc., Stoneridge Inc., Carling Technologies Inc., ITT Inc., Astronics Corporation, The NORDAM Group LLC, Apex Industries Inc., Dukes Aerospace Inc., C&K Components Inc., Hydra-Electric Company, Barantec Inc., Electro-Mech Components Inc., Meggit Avionics, Smiths Group PLC, Cobham PLC, Grayhill Inc.

North America was the largest region in the aircraft switches market in 2023. 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.

The countries covered in the aircraft switches market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The aircraft switches market consists of sales of switches such as selectors, push, toggle, network, and others. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Aircraft Switches Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on aircraft switches market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for aircraft switches ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The aircraft switches market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of covid 19 on supply chains and consumption patterns.

• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:

• 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); Aftermarket
• Companies Mentioned: Raytheon Technologies Corporation; Honeywell International Inc.; Collins Aerospace; Safran Group; Eaton Corporation
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery format: PDF, Word and Excel Data Dashboard.