Market Scope:
MRFR expects the aircraft switches market 2020 to capture an attractive valuation of USD 3 Billion by 2030. MRFR also suggests that the market size can expand at a rate of 4% between 2020 and 2030. We will provide COVID-19 impact analysis with the report, combined with an in-depth analysis following the coronavirus disease outbreak.
COVID-19 Impact on the Aircraft Switches Market
Businesses across the globe have been facing challenges posed by the COVID-19 pandemic. The aviation sector has met with a similar fate, in line with a substantial reduction in passenger traffic. Airlines are dealing with travel bans following the lockdown, market volatility and economic uncertainty. The aftermath of the novel coronavirus as well as the lockdown has been brutal for the segments of the aviation industry, which includes the aircraft switches market, especially since the manufacturing activities have been brought to a halt by the lack of workforce. In view of the escalating SARS-CoV-2 cases worldwide, market firms are placing their bets on advanced technologies such as robotics and automation.
The aircraft switches market can observe a relatively better growth in the near future, with the growth in commercial passengers across developing regions and the continuous adoption of machine learning, AI and drone technology. These technologies are helping aircraft switches manufacturers to streamline maintenance processes, and also bring down the dependence on human labor.
Key Boosters and Challenges
Aircraft Switches Market Overview were earlier used only in cockpits but with the surge in innovations, their application ranges have expanded significantly over the past few years. Increasing digitalization of aircrafts has prompted major changes in customizing, deploying and designing the switch technology. This has meant high adoption of LCDs, which have replaced conventional push button and rotary switches. The latest designs make extensive use of the touchscreen model, which is intuitive but given its digital property, is considered to be less reliable. The challenge faced by manufacturers is to win the trust of consumers in terms of new technologies that are more compact and diverse.
Consumers have become extremely tech-savvy, increasingly adopting digital options while travelling. Growing preference for touchscreens to interact with the airline staff, use on-flight facilities and consume content can be profitable avenues for the firms in the aircraft switches industry. These are projected to be the basic features of turboprop and business flights. Rising adoption of electronic sensors given their ability to provide accurate and precise reading of engine operations, malfunctions, while centralizing various functions could be a lucrative opportunity for market leaders in subsequent years. Increased use of switches in space and unmanned Aerial vehicle (UAV) applications will also ensure lucrative growth in the coming years.
Emerging trends such as Uberdrive have bolstered the demand for urban air taxis and have raised consumer interest in driving planes amidst highly intuitive and efficient flight control, which can be a key growth booster in the aircraft switches market. Moreover, rising use of aircrafts at flight schools, air taxis’ use in urban locations, and the mounting preference for personal planes could also give rise to excellent opportunities in the global market. Continuous launch of new and advanced aircrafts with superior quality features by manufacturers is another factor that can be crucial for the market growth.
For instance, in October 2020, ALSIM, a France-based flight simulator manufacturer launched a convertible simulator called AL40/42. It is a combination of two Diamond aircrafts, which are DA40 and DA42, with applications in flight schools. The aircraft’s conversion kit consists of two central and cockpit panels, which include a/c system switches along with power levers, Garmin avionics, yaw trim and fuel selection panels. The switch present in the central panel is optional since both the aircrafts’ configuration is expected to be compatible.
Key Players:
The top participants in the worldwide market are Unison Industries, LLC (US), Barantec (US), CK (US), Hydra-Electric Company (US), Electro-Mech Components (US), ITT Inc. (US), and more.
Market Segmentation
End-user, application, platform, and type are the key market segments considered in the MRFR report.
OEM and aftermarket are the primary market end-users, out of which the lead was taken by the aftermarket segment in 2019. But, the OEM segment is set to demonstrate better growth over the review period.
Applications of aircraft switches are avionics, aircraft systems, cockpit, engine and APU and cabin. Cockpit can be the highest achiever, in terms of CAGR, as switches are commonly used in aircraft cockpits for essential pilot functions. Cabin has been the top segment since 2019, on account of the heightened demand in the aftermarket for cabin switches.
Platform-wise, the key segments are rotary and fixed wing. Fixed wing segment landed at the top in 2019, due to the surging passenger traffic along with the soaring demand for new aircraft. Rotary wing segment can advance at a higher rate from 2020 to 2026 in view of the increasing use of helicopters for military and commercial applications.
Automatic and manual are the two main types of aircraft switches in the global market. Manual switches were the leading segment in 2019, thanks to the mounting number of aircraft deliveries. Various types of manual switches in demand are toggle, push, selector and rocker. Automatic switches are witnessing strong demand and can garner a better expansion rate owing to the rising adoption of switches for electronic and network automation.
Regional Insight
Asia Pacific/APAC, Europe, North America and RoW/Rest of the World are the primary markets for Aircraft Switches Market Size across the world.
North America has remained the market leader for aircraft switches since 2019, thanks to the robust presence of highly renowned vendors such as Esterline Technologies, Honeywell International, Inc., and more. In view of the commercial aircrafts’ growing demand in the region, aircraft manufacturers are striving to boost their product range, which has been favorable for the aircraft switches market.
The APAC market is all set to record the fastest growth rate in the near future, as a result of the rapidly burgeoning aviation industry in Japan, India and China, ultimately fostering the demand for aircraft switches. Substantial demand is also observed in Indonesia and Singapore, following which a rising number of commercial aircrafts are being delivered in these countries. The region’s military sector is emerging as a notable end-user, in the wake of surging territorial conflicts and the growing need to bolster the aircraft strength.
Growth in tourism as well as passenger traffic in Brazil, South Africa and the UAE has resulted in a massive demand for aircraft switches and benefitted the ROW market. Rising spending by top airlines such as Emirates Group and Qatar Airlines in aircraft switches is proving to be a crucial growth inducer in the regional market.
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