(MENAFN- The Express Wire)
Posted on Nov 30 2021 9:03 AM
'Key Players in Aircraft Switches Market are 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.) and many more
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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.
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.
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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.
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.
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.
Have Any Query? Ask Our Expert:
Name: Mr. Ashwin Arora Email: sales [@] fortunebusinessinsights [.] com
Phone: US +1424 253 0390 / UK +44 2071 939123
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.
Get Sample PDF of Aircraft Switches Market Report, Please Connect with our Sales Team Below:
Name: Mr. Ashwin Arora Email: sales [@] fortunebusinessinsights [.] com
Phone: US +1424 253 0390 / UK +44 2071 939123
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Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
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