Aircraft Switches
Which drivers are expected to have the greatest impact on the over the aircraft switches market’s growth?
The surge in the requirement for aircraft is anticipated to fuel the expansion of the aircraft switches market. Aircraft are defined as any vehicle that has been engineered to take flight, using either static lift or the dynamic lift of an airfoil, or the direct downward propulsion of its engines. Switches form a critical part in aircraft, employed in controlling and observing varied aircraft systems. The cockpit dashboard hosts the majority of these switches, comprising toggle switches, push-button switches, rocker switches, and others. For instance, the France-based aviation and aerospace parts maker, Airbus, received around 99 aircraft orders in February 2023 and handed over approximately 66 aircraft to 42 customers. Additionally, it is estimated that about 2,440 freighter planes will be needed in the next two decades, from which nearly 900 will be brand new. Moreover, through to 2041, Airbus projects a demand for 39,490 fresh passenger and freighter aircraft. Thus, the growing requirement for aircraft is propelling the aircraft switches market.
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What is the future CAGR of the aircraft switches market, and how will it impact industry expansion?
The market size for aircraft switches has been experiencing continual growth in the past few years. This market expansion is projected to rise from a value of $2.4 billion in 2024 to approximately $2.48 billion in 2025, with a compound annual growth rate (CAGR) of 3.4%. This growth in prior years can be credited to factors such as more frequent air travel, stringent regulatory compliance, expansion of aircraft fleet, and emphasis on fuel efficiency.
The market size for aircraft switches is anticipated to exhibit consistent growth in the upcoming years, reaching $2.97 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 4.6%. Factors contributing to this expected growth during the forecast period include the advent of next-generation aircraft, rising connectivity requirements, expanding urbanization, the incorporation of renewable energy, and worldwide security issues. The forecast period will also see significant trends such as technological progress, growing demand for lighter components, automation, smart cockpit systems, an increased emphasis on passenger experience, as well as strict safety and regulatory standards.
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What new trends are reshaping the aircraft switches market and its opportunities?
Leading businesses in the aircraft switches sector are concentrating on creating innovative technological solutions such as the Electric Aircraft Modification Program to meet key industry needs. This program undertakes the conversion of aircraft to electric or hybrid-electric power, allowing for decreased emissions and fuel consumption. CAE Inc., a flight training firm based in Canada, announced in July 2022, a partnership with Piper Aircraft Inc. to launch an Electric Aircraft Modification Program. This project focuses on transitioning Piper Archer® aircraft to electric propulsion by developing a conversion kit. This kit would allow two-thirds of CAE’s Piper Archer training fleet to be electrified. For this undertaking, H55, a Swiss firm known for making aerospace battery systems, is set to provide the required battery pack and energy management system. The program’s main objective is not only to enhance the training process but also to fall in line with industry’s drive towards environmentally-friendly aviation technology. The introduction of electric models is anticipated to considerably reduce carbon emissions and fuel usage in pilot training operations.
Which key market segments comprise the aircraft switches market and drive its revenue growth?
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 regions are at the forefront of aircraft switches market expansion?
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.
Who are the leading players fueling growth 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
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What Is Covered In The Aircraft Switches Global Market Report?
• Market Size Forecast: Examine the aircraft switches market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the aircraft switches market for a structured understanding.
• Key Players Overview: Analyze major players in the aircraft switches market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the aircraft switches market.
• Segment Contributions: Evaluate how different segments drive overall growth in the aircraft switches market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the aircraft switches market.
• Industry Challenges: Identify potential risks and obstacles affecting the aircraft switches market.
• Competitive Landscape: Review strategic developments in the aircraft switches market, including expansions, agreements, and new product launches.
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