The aircraft switches market is anticipated to record a CAGR of 3% during the forecast period, up from US$ 2.48 Bn in 2022 to reach a valuation of US$ 3.33 Bn by 2032.
| Attributes | Details |
| Aircraft Switches Market Value (2022) | US$ 2.48 Bn |
| Aircraft Switches Market Projected Value (2032) | US$ 3.33 Bn |
| Aircraft Switches Market CAGR (2022-2032) | 3% |
Thesales of aircraft switches are anticipated to rise due to the increasing development of prototyping tools to allow the pre-validation of cockpit functionalities during flight tests to cater to the increasing air traffic. As a result, thedemand for aircraft switches is expected to grow significantly from 2022 to 2032.
Similarly, the growingdemand for commercial aircraft safety and low operating costs, as well as the resulting increase in the demand for aircraft switches, is likely to fuel aircraft switches market share during the forecast period.
Devices designed to monitor and control private, commercial, and military aircraft are known asaircraft switches. Pressure switches, for example, are capable of turning on and off components for flight controls as well as indicators on flight instrumentation. They can be found in hydraulic, engine, and other aircraft systems. Due to these functions, the sales of aircraft switches is rising rapidly, aiding the global aircraft switches market growth.
The rapid advancement of fly-by-wire technology, as well as a strong focus on in-flight entertainment systems, are driving the demand for aircraft switches market between 2022 and 2032.
Advancements in aircraft switches may increase thesales of aircraft switches, and the demand for reliable, effective, and simple-to-use aircraft switches and buttons. Furthermore, aerospace companies' strong focus on increasing aircraft production rates will have a positive impact on themarket landscape for aircraft switches.
According to the World Bank, global per capita income for FY2019 is expected to be 1.62 times that of FY2018, and air travel is highly dependent on regional per capita expenditure. Thus, the sales of aircraft switches are likely to rise, further aiding the aerospace market and the demand for aircraft switches during the forecast period.
Due to the growing passenger traffic in emerging economies, the commercial segment is expected to account for the majority of the global aircraft switches market share. Another major factor driving demand for aircraft switches is the new phenomenon of this decade, aircraft logistics for the e-commerce industry, which is expected to boost the volume sales of aircraft switches.
In addition, the digitization trend is expected to boost the sales of aircraft switches. Furthermore, the need for high levels of safety and maintenance is expected to propel the aftermarket sales channel, which will, in turn, gain significant traction in the global aircraft switches market share.
On the other hand, the need for frequent and complex maintenance may stifle the growth of the aircraft switches market over the forecast period, causingautomatic aircraft switches to lose market share tomanual aircraft switches.
The Asia Pacific region is expected to create significant civil sector opportunities, while America and Europe are expected to gain traction in aircraft switches market. Due to rising military budgets and rising disposable income in emerging economies, the aerospace industry's primary market scope is civil and military sectors.
This factor is expected to generate a sizable aircraft switches market share in Asia Pacific, the Americas, and Europe. By the end of the forecast period, South East Asia's rapidly developing research and development expertise is expected to promise lucrative opportunities in the aircraft switches market.
Key Players in the global aircraft switches market includes Hydra-Electric Company, Raytheon, ITT Aerospace, TE Connectivity, Eaton Corporation, Ametek, United Technologies Corporation, Unison Industries (General Electric), C&K, Baran Advanced Technologies, Meggitt, Safran, Esterline Technologies (TransDigm Group), Honeywell, and Curtiss-Wright.
| Report Attribute | Details |
| Growth rate | CAGR of 3% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 - 2020 |
| Forecast period | 2022 - 2032 |
| Quantitative units | Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Product, application, region |
| Regional scope | North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa |
| Key companies profiled | Hydra-Electric Company, Raytheon, ITT Aerospace, TE Connectivity, Eaton Corporation, Ametek, United Technologies Corporation, Unison Industries (General Electric), C&K, Baran Advanced Technologies, Meggitt, Safran, Esterline Technologies (TransDigm Group), Honeywell, and Curtiss-Wright. |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The aircraft switches market is predicted to register a CAGR of 3% during the forecast period.
Key players holding substantial aircraft switches market share include Hydra-Electric Company, Raytheon, ITT Aerospace, TE Connectivity, Eaton Corporation, Ametek, United Technologies Corporation, Unison Industries (General Electric), C&K, Baran Advanced Technologies, Meggitt, Safran, Esterline Technologies (TransDigm Group), Honeywell, and Curtiss-Wright.
As per the analysis, the aircraft switches market share is likely to be US$ 3.33 Bn by 2032.
Demand for aircraft switches is likely to rise due to the increasing development of prototyping tools to allow the pre-validation of cockpit functionalities during flight tests to cater to the increasing air traffic.
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Aircraft Switches Market
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