The global Aircraft Switches Market size is projected to grow from
USD 2.01 billion in 2021 to USD 2.60 billion by 2028. In today’s
technologically advanced world, the popularity of personalized seatback screens
is surging rapidly. It is set to propel the demand for unique in-flight
entertainment & connectivity (IFEC) featuring real-time connectivity and
data usage. Panasonic Avionics Corporation, for instance, bagged a new contract
in July 2020 from Air Liban S.A., the national airline of Lebanon. It would
enable the former to provide IFEC solutions for the latter’s 15 Airbus A321
aircraft. Fortune Business Insights™ published this information in a report,
titled, “Aircraft Switches Market, 2021-2028.” The report further states
that the market stood at USD 1.87 billion in 2020. It is expected to showcase a
CAGR of 3.71% in the forecast period between 2021-2028.
Huge Order Backlogs Fueled by Reduction of Workforce amid COVID-19
to Hinder Growth
The COVID-19 pandemic has reduced the demand for air travel because
of legislative restrictions on travel and trade. Besides, it has terminated
various new aircraft orders and created delays in the delivery process. As
companies reduced their workforce capacities, it surged order backlogs
tremendously and resulted in the declining demand for aircraft switches. We are
providing in-depth research reports to help you make the right business
decision.
Duncan Aviation Installs Collins Aerospace Pro Line Fusion in
Challenger 604
In March 2021, the avionics team of Duncan Aviation declared its plan to install the Pro Line Fusion from Collins Aerospace in a Challenger 604 at Michigan. The integrated, fully connected, scalable avionics system has intuitive decision-making and advanced situational awareness tools. Additionally, it possesses weather-threat detection systems, heads-up vision systems, and touch-control primary flight displays to help pilots fly with greater accuracy.
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Report Coverage-
The report involved four notable activities in projecting the
current market size. Thorough secondary research was conducted to gather data
about the peer market. Our next step included primary research to validate
these sizing, assumptions, and findings with numerous industry experts. We have
also used bottom-up and top-down approaches to calculate the size of this
industry.
Drivers & Restraints-
Increasing Demand for Aircraft from Flight Schools & High
Passenger Traffic to Boost Growth
The introduction of next-generation aircraft equipped with
integrated digital interfaces is anticipated to reduce the pilot’s workload and
improve reliability. At the same time, the procurement of new aircraft has
increased at a fast pace on account of the rising number of air commuters
across the globe. According to the International Air Transport Association
(IATA), by 2037, there will be approximately 8.2 billion air passengers
worldwide. Various airlines are striving to expand their fleets. Also, the high
demand for aircraft for a wide range of applications, such as personal planes
and flight schools would augment the aircraft switches market growth in the
upcoming years. However, airlines are rapidly adopting touchscreens to improve
the pilot’s and passengers’ travel experience. It may obstruct growth.
Segments-
Commercial Aircraft Segment to Lead Stoked by Surging Number of
Deliveries Globally
The market is categorized into cabin, cockpit, landing gear,
engine, and others by application. Based on type, it is bifurcated into manual
and automatic. Below is a brief note on the platform criterion:
- By Platform: The market is
fragmented into commercial aircraft, military aircraft, general aviation
aircraft, business aircraft, electric aircraft, unmanned aerial vehicles
(UAV), and helicopters. Amongst these, the commercial aircraft segment is
anticipated to remain at the forefront in the near future. It held 50% in
terms of the aircraft switches market share in 2020. The increasing number
of aircraft deliveries is expected to bolster its growth. In October 2020,
for instance, SKY Express ordered four Airbus A320neo aircraft.
Regional Insights-
Rising Government Investment Plans to Accelerate Growth in Europe
Geographically, North America procured USD 0.53 billion in 2020 in
terms of revenue. The rising number of renowned aerospace manufacturers,
namely, Raytheon Technologies Corporation, Lockheed Martin Corporation, GE
Aviation, and the Boeing Company would drive regional growth.
Fortune Business Insights™ lists out the renowned manufacturers of
aircraft switches operating in the global market. They are as follows:
- TE Connectivity
(The U.S.)
- Eaton
Corporation (The U.S.)
- Safran (France)
- Hydra-Electric
Company (The U.S.)
- ITT Inc. (The
U.S.)
- Curtiss-Wright
Corporation (The U.S.)
- Meggitt PLC (The
U.K.)
- Unison LLC (The
U.S.)
- Honeywell
International Inc. (The U.S.)
- Collins Aerospace
(The U.S.)
- Applied Avionics
Inc. (The U.S.)
Europe is expected to showcase considerable growth because of the
rising investments by developed countries, such as France and the U.K. in the
creation of pollution-free aircraft. In June 2020, for instance, the government
of France announced that it is set to support the country’s aviation industry
by providing a package of USD 16.85 billion. It would include investments in
small firms for the launch of carbon-neutral planes by the end of 2035.
Competitive Landscape-
Key Players Aim to Provide Low-cost Systems for Strengthening
Their Market Positions
Most of the prominent producers of aircraft switches are striving
to launch state-of-the-art technologies for refining an aircraft system’s user
interface. Some of the others are focusing on enhancing their product lines to
deliver cost-effective solutions to their customers. Below is one of the
industry developments:
- July 2017: Safran
Aircraft Engines and Kulite Semiconductor Products, Inc. announced the
completion of the certification and development of an innovative solid
state electronic pressure switch (FFCI). It will be installed on CFM56-7B
aircraft engines.
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