Pune, India, June 16, 2021 (GLOBE NEWSWIRE) -- The global aircraft switches market is set to gain momentum from the urgent need to reduce a pilot’s workload and surge automation by creating human-machine interface (HMI) designs in next-generation commercial and military aircraft. For instance, in September 2020, Curtiss-Wright announced its plan to deliver a vehicle Ethernet switch and a USFF flight control computer for the air taxi program. These will be included in the flight test stage. This information is given by Fortune Business Insights™ in a report, titled, “Aircraft Switches Market, 2021-2028.” As per the report, the market size is projected to grow from USD 2.01 billion in 2021 to USD 2.60 billion by 2028 at a CAGR of 3.71% in the forecast period. It stood at USD 1.87 billion in 2020.
COVID-19 Pandemic: Termination of New Orders & Travel Bans Have Affected Growth
In countries, such as China, France, India, and the U.S., lockdown measures amid the COVID-19 pandemic have created disruptions in the supply chain of aircraft and its components. The delay in the delivery and production of aircraft has also impacted the market negatively. TE Connectivity, for instance, declared that its net sales in 2020 was USD 12.2 billion, which is a 10% drop compared to 2019. Also, travel bans and the cancellation of new aircraft orders would affect the demand for aircraft type of switches amid the pandemic.
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A list of prominent manufacturers of aircraft switches operating in the global market:
- 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.)
Commercial Aircraft Segment Held 20.50% Share in 2020: Fortune Business Insights™
Based on the type, the market is fragmented into automatic and manual. By application, it is divided into engine, cabin, landing gear, cockpit, and others. Lastly, based on the platform, it is segregated into commercial aircraft, military aircraft, general aviation aircraft, business aircraft, electric aircraft, unmanned aerial vehicles (UAV), and helicopters. Out of these, the commercial aircraft segment generated 20.50% in terms of the aircraft switches market share in 2020. This growth is attributable to the rising number of deliveries.
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We aim to provide unique market research solutions under one roof to help our clients choose the best strategy as per their requirements. Our syndicated or custom reports deliver accurate statistics and a comprehensive analysis on revenue. The competitive landscape section contains detailed profiles of prominent players. They also include a company descriptions, revenue, and sales generated in the aircraft switches business.
Drivers & Restraints-
Usage of Fly-by-wire Systems Backed by High Demand for Lightweight Aircraft to Aid Growth
Nowadays, the demand for fly-by-wire systems is surging rapidly because of the emergence of lightweight aircraft. These systems have numerous benefits, such as high reliability, effective control, and low weight. They can also manage flight control inputs provided by the pilot and transmit equivalent electrical signals via electrical switches to flight control actuators. In September 2020, for instance, Aerion Supersonic awarded a new contract to BAE Systems PLC to develop and design a fly-by-wire flight control system for the former’s AS2 supersonic business jet. Such factors are set to propel the aircraft switches market growth. However, the rising adoption of touchscreen control designs is expected to hamper the demand for manual switches for aircraft in the near future.
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Presence of Renowned Aircraft Manufacturers in U.S. to Favor Growth in North America
Geographically, North America generated USD 0.53 billion in 2020 in terms of revenue. The presence of multiple reputed aircraft switches and aircraft manufacturers in the U.S., such as Collins Aerospace, Curtiss-Wright Corporation, Honeywell International Inc, Lockheed Martin Corporation, and the Boeing Company are anticipated to propel the regional growth. On the other hand, Asia Pacific is likely to showcase remarkable growth in the upcoming years because of the surging adoption of military aircraft and the increasing investment in the aviation sector.
Key Players Focus on R&D Activities and Bagging New Orders to Compete with Rivals
The global market possesses a large number of companies that are majorly focusing on exhaustive research and development activities to explore various areas of the aviation industry. Besides, some of the others are striving persistently to gain a competitive edge by fulfilling new orders of renowned organizations.
Below is one of the latest industry developments:
- March 2021: Airbus introduced Advanced Superconducting and Cryogenic Experimental powertraiN Demonstrator (ASCEND) for observing the aftermath of cryogenic temperatures and superconducting materials on the performance of the electrical propulsion system of an aircraft.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global Aircraft Switches Market
- Impact of COVID-19 Pandemic on Global Aircraft Switches Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Global Aircraft Switches Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Market Analysis, Insights and Forecast – By Platform
- Commercial Aircraft
- Military Aircraft
- General Aviation Aircraft
- Business Aircraft
- Electric Aircraft
- Unmanned Aerial Vehicles
- Market Analysis, Insights and Forecast – By Application
- Landing Gear
- Market Analysis, Insights and Forecast – By Region
- North America
- Rest of the world
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