Press release
Aircraft Switches Market: Steady Growth Forecasts, Driven by Technological Advancements and Increasing Aircraft Demand
Aircraft Switches Market Size
What Is The Projected Market Size Of The Global Aircraft Switches Market And Its Growth Rate?
• The aircraft switches market size has grown steadily in recent years. It will grow from $2.4 billion in 2024 to $2.48 billion in 2025 at a compound annual growth rate (CAGR) of 3.4%.
• The growth in the forecast period can be attributed to next-generation aircraft, increased connectivity demands, growing urbanization, renewable energy integration, and global security concerns. It is expected to see steady growth in the next few years, growing to $2.97 billion in 2029 at a compound annual growth rate (CAGR) of 4.6%.
What Is Driving The Growth In The Aircraft Switches Market?
The increasing demand for aircraft is driving the aircraft switches market. Switches in aircraft play a crucial role in controlling and monitoring various aircraft systems. Airbus, for instance, received about 99 aircraft orders in February 2023 and delivered about 66 aircraft to 42 clients. Anticipated requirements for 2,440 freighter planes in the next two decades, out of which approximately 900 will be newly constructed, further fuel the market growth. Airbus predicts a demand for 39,490 new passenger and freighter aircraft by 2041.
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Who Are the Key Players Driving Aircraft Switches Market Growth?
• Raytheon Technologies Corporation
• Honeywell International Inc.
• Collins Aerospace
• Safran Group
• Eaton Corporation
• Thales Group
• L3Harris Technologies Inc.
• TE Connectivity
• Ametek Inc.
• Transdigm Group Inc.
• Sensata Technologies Inc.
• GKN Aerospace Services Limited
• Crane Co.
• Woodward Inc.
• Meggitt PLC
• Triumph Group Inc.
• Carling Technologies Inc.
• ITT Inc.
• Astronics Corporation
• The NORDAM Group LLC
• Dukes Aerospace Inc.
• C&K Components Inc.
• Hydra-Electric Company
• Electro-Mech Components Inc.
• Meggit Avionics
• Smiths Group plc
• Cobham plc
What Are The Key Trends In The Aircraft Switches Market?
• Technological advancements
• Increasing demand for lightweight components
• Automation and smart cockpit systems
• Rising focus on passenger experience
• Stringent safety and regulatory standards.
What Are The Segments Of The Global Aircraft Switches Market?
• By Type: Manual, Automatic
• By Platform: Fixed Wing, Rotary Wing
• By Application: Aircraft Systems, Cockpit, Engine And APU, Avionics, Cabin, Other Applications
• By End-User: Original Equipment Manufacturer (OEM), After market
Which Region Leads The Aircraft Switches Market?
North America was the largest region in the aircraft switches market in 2024. Meanwhile, Asia-Pacific is expected to be the fastest-growing region in the global aircraft switches market during the forecast period. The report covers all regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Aircraft Switches Market Global Market Report?
- Market Size Analysis: Analyze the Aircraft Switches Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Aircraft Switches Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Aircraft Switches Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Aircraft Switches Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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