Aircraft Switches Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 2.48 Billion |
| Market Size (2029) | USD 3.04 Billion |
| CAGR (2024 - 2029) | 4.19 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Aircraft Switches Market Analysis
The Aircraft Switches Market size is estimated at USD 2.48 billion in 2024, and is expected to reach USD 3.04 billion by 2029, growing at a CAGR of 4.19% during the forecast period (2024-2029).
The commercial aircraft sector's ramped-up production and deliveries fuel a global surge in demand for aircraft switches. This demand is further bolstered by the rising popularity of advanced IFEC systems and the shift toward more interactive IFEC setups. Specifically, the IFEC sector is witnessing a surge as traditional backseat screens, offering limited entertainment, are being replaced by personalized models.
Modern military and commercial aircraft are embracing human-machine interface (HMI) designs, enhancing automation and easing pilot workloads. This, coupled with the broader trend of aircraft digitization, drives the need for updated switching technologies. Cockpits increasingly favor pushbutton switches with light-emitting diodes, especially as they integrate digital data bus interfaces.
As the aviation industry leans towards lighter aircraft, there is a growing fascination with fly-by-wire systems. These systems, managed by processors, streamline autopilot controls by transmitting electrical signals through electronic switches. The rising demand for fly-by-wire installations in new aircraft is set to propel the growth of the aircraft switching market.
However, advanced switches come with high price tags, and stringent regulations could lead to approval delays and increased development costs. Additionally, fluctuating raw material prices impact manufacturing costs and squeeze profit margins for industry players.
Aircraft Switches Market Trends
The Commercial Aviation Segment is Expected to Dominate the Market During the Forecast Period
During the forecast period, the commercial segment is poised to lead the market, propelled by the rising adoption of IFEC systems in commercial aircraft and the surge in aircraft procurement. As cabins become more sophisticated to cater to customer preferences, the utilization of switches has seen a corresponding uptick. These switches, integral to the cabin, are utilized for managing IFEC systems, lighting, and even summoning cabin crew. Notably, commercial aircraft feature a higher number of switches compared to their military and general aviation counterparts. Moreover, the prevalence of switches in commercial aircraft cockpits surpasses that in general aviation aircraft, while military aircraft typically exhibit fewer switches in their cabins.
Furthermore, the rapid expansion of low-cost carriers in Asia-Pacific is a significant driver of the demand for new commercial aircraft. Leading airlines such as AirAsia, IndiGo, and Lion Air are aggressively expanding their fleets, fueling the need for advanced and dependable aircraft switches.
Factors such as the burgeoning middle-class population and rising disposable incomes in Asia-Pacific amplify the demand for air travel. Notably, the International Air Transport Association (IATA) projects a more than twofold increase in passenger traffic by 2035, necessitating a corresponding rise in commercial aircraft to meet this demand. This surge in air traffic and fleet expansion underscores the critical need to enhance aircraft systems, including switches.
Several notable contracts underscore this segment's growth trajectory. For instance, in 2023, IndiGo placed an order for 300 A320neo family jets, a move set to significantly bolster its existing fleet and, consequently, drive up the demand for aircraft switches in the region. Similarly, in 2022, China Southern Airlines inked a deal for 96 A320neo family jets, showcasing the region's steadfast commitment to fleet expansion and modernization. These growing procurement contracts and the escalating demand for air travel collective propel the segment's growth during the forecast period.
Asia-Pacific is Projected to Witness the Highest Growth During the Forecast Period
Asia-Pacific is set to witness significant growth in the aviation market during the forecast period. This surge is largely attributed to the region's escalating passenger traffic, prompting airlines to bolster their fleets with new aircraft. By the end of the forecast period, Asia-Pacific is poised to emerge as the world's largest aviation market, driven predominantly by the robust demand from key economies like China and India. Projections indicate that by 2025, China and India will rank among the top three global markets for commercial aviation.
Notably, nations such as Japan and Indonesia contribute substantially to this heightened demand. Consequently, the region's share of global aircraft deliveries is expected to reach approximately one-third over the next five years. This uptick is further supported by significant government investments in modernizing aviation infrastructure. Notably, China and India are channeling substantial resources into upgrading their airport facilities and bolstering aviation safety standards. This push for advancement is also reflected in developing cutting-edge avionics, including high-quality aircraft switches, aimed at enhancing operational efficiency and safety standards.
Turning to the military sector, escalating territorial conflicts have spurred countries in the region to bolster their military aircraft fleets, either through indigenous production or procurement. This dual approach, combining the production of indigenous military aircraft with new procurements, is anticipated to fuel a substantial demand for aircraft switches in the coming years. The confluence of rising commercial and military aircraft demands, coupled with an uptick in business jet deliveries, is propelling the market's growth across the region.
For instance, in June 2023, Airbus clinched a significant deal with Air India, securing an order for 250 aircraft, including A320neo and A350 models. Air India's move to bolster its fleet, enhance services, and expand its operations underscores the anticipated demand for advanced aircraft switches. Similarly, in November 2023, Singapore Airlines placed an order for 39 new aircraft featuring B787-10s and Airbus A350-900s. This strategic move, aimed at bolstering its long-haul fleet, highlights the escalating demand for sophisticated aircraft systems and switches.
Aircraft Switches Industry Overview
The aircraft switches market is fragmented in nature due to the presence of a large number of local and global players. Some of the key players in the market are Safran SA, Honeywell International Inc., RTX Corporation, Eaton Corporation PLC, and Electro-Mech Components Inc.
Aircraft are equipped with various switches, varying in type and size, sourced from multiple suppliers. This results in a fragmented market, with each aircraft sourcing switches from several suppliers. Market players are customizing their offerings to align with aircraft manufacturers' needs to secure new contracts. In October 2023, RTX Corporation showcased a groundbreaking solid-state circuit breaker. This breaker, a pivotal component for future aircraft's hybrid-electric propulsion systems, aligns with the aviation industry's ambitious goal of achieving net-zero carbon emissions by 2050. Developed in collaboration with Collins Aerospace and Pratt & Whitney as part of NASA's Advanced Air Vehicles Program, this breakthrough breaker can interrupt thousands of amps in under 100 microseconds, a fivefold increase in power handling compared to current models.
Aircraft Switches Market Leaders
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Honeywell International Inc.
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Eaton Corporation plc
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Electro-Mech Components, Inc.
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Safran SA
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RTX Corporation
*Disclaimer: Major Players sorted in no particular order
Aircraft Switches Market News
May 2024: Eaton Aerospace LLC, a subsidiary of Eaton Corporation PLC, secured a firm-fixed-price delivery order worth USD 180.4 thousand from the Defense Logistics Agency Land and Maritime. Specializing in defense and aerospace fluid and electrical distribution systems, Eaton Aerospace, a foreign-owned, for-profit entity, is crucial in supplying specialized pressure sensors, switches, and transducers for military aircraft, vessels, and ground systems. This contract, part of the three single-award IDIQ contracts between Eaton and DLA, also highlights Eaton's role as a key subcontractor for major defense contractors.
November 2023: Safran SA signed a contract exceeding USD 1.2 billion to supply advanced equipment for Emirates' aircraft. This comprehensive deal covers everything from aircraft seats and cabin equipment to wheels, carbon brakes, and modern aircraft switches. These switches are instrumental in ensuring optimal, safe, and comfortable operations of various onboard systems.
November 2023: TransDigm Group Incorporated finalized a deal to acquire Communications & Power Industries' Electron Device Business for USD 1.385 billion in cash. This strategic move bolsters TransDigm's presence in the aircraft switch market by integrating CPI's renowned electronic components and subsystems, primarily catering to the aerospace and defense sectors.
Aircraft Switches Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Application
5.1.1 Commercial
5.1.2 Military
5.1.3 General Aviation
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Russia
5.2.2.5 Rest of Europe
5.2.3 Asia-Pacific
5.2.3.1 China
5.2.3.2 Japan
5.2.3.3 India
5.2.3.4 South Korea
5.2.3.5 Rest of Asia-Pacific
5.2.4 Latin America
5.2.4.1 Brazil
5.2.4.2 Rest of Latin America
5.2.5 Middle East and Africa
5.2.5.1 United Arab Emirates
5.2.5.2 Saudi Arabia
5.2.5.3 Egypt
5.2.5.4 South Africa
5.2.5.5 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Safran SA
6.2.2 Electro-Mech Components Inc.
6.2.3 Honeywell International Inc.
6.2.4 Collins Aerospace (RTX Corporation)
6.2.5 Eaton Corporation PLC
6.2.6 AMETEK Inc.
6.2.7 C&K COMPONENTS LLC
6.2.8 ITT Inc.
6.2.9 Unison Industries LLC
6.2.10 Hydra-Electric Company
6.2.11 TE Connectivity Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Aircraft Switches Industry Segmentation
Aircraft switches play a crucial role in overseeing and managing various aircraft systems. The cockpit dashboard hosts a myriad of switches, ranging from push buttons and toggles to rocker switches. With the rising wave of digitization, the aviation industry has witnessed a surge in the demand for in-flight entertainment and connectivity (IFEC). This demand, coupled with advancements in technology, has notably enhanced the capabilities of aircraft switch technology.
The aircraft switches market is segmented by application and geography. By application, the market is segmented into commercial, military, and general aviation. The report also covers the market sizes and forecasts for the aircraft switches market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).
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| Military | |
| General Aviation |
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Aircraft Switches Market Research FAQs
How big is the Aircraft Switches Market?
The Aircraft Switches Market size is expected to reach USD 2.48 billion in 2024 and grow at a CAGR of 4.19% to reach USD 3.04 billion by 2029.
What is the current Aircraft Switches Market size?
In 2024, the Aircraft Switches Market size is expected to reach USD 2.48 billion.
Who are the key players in Aircraft Switches Market?
Honeywell International Inc., Eaton Corporation plc, Electro-Mech Components, Inc., Safran SA and RTX Corporation are the major companies operating in the Aircraft Switches Market.
Which is the fastest growing region in Aircraft Switches Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Aircraft Switches Market?
In 2024, the North America accounts for the largest market share in Aircraft Switches Market.
What years does this Aircraft Switches Market cover, and what was the market size in 2023?
In 2023, the Aircraft Switches Market size was estimated at USD 2.38 billion. The report covers the Aircraft Switches Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Aircraft Switches Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Aviation Switches Industry Report
Statistics for the 2024 Aviation Switches market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Aviation Switches analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Aviation Switches Market Report Snapshots
