Aircraft Changes Market To Hit USD 2.60 Billion By 2028 |

Pune, March 29, 2022 (GLOBE NEWSWIRE) — The world aircraft switch market The size is expected to grow from $2.01 billion in 2021 to $2.60 billion by 2028. In today’s technologically advanced world, the popularity of custom seat back screens is growing rapidly. It is designed to propel the demand for unique In-Flight Entertainment and Connectivity (IFEC) offering real-time connectivity and data usage. Fortune Business Insights™ released this information in a report titled “Aircraft Switches Market, 2021-2028.” The report further states that the market stood at USD 1.87 billion in 2020. It is expected to grow at a CAGR of 3.71% during the forecast period between 2021 and 2028.

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Huge order books fueled by workforce reduction amid COVID-19 to hamper growth

The COVID-19 pandemic has reduced demand for air travel due to legislative restrictions on travel and trade. Additionally, it terminated various new aircraft orders and created delays in the delivery process. As companies reduced their labor capacities, order books increased significantly and led to a drop in demand for aircraft switches. We provide in-depth research reports to help you make the right trading decision.

Fortune Business Insights™ lists renowned aircraft switch manufacturers operating in the global market. They are the following:

  • TE Connectivity (USA)
  • Eaton Corporation (USA)
  • Saffron (France)
  • Hydra-Electric Company (USA)
  • ITT Inc. (USA)
  • Curtiss-Wright Corporation (USA)
  • Meggitt PLC (UK)
  • Unison LLC (USA)
  • Honeywell International Inc. (USA)
  • Collins Aerospace (USA)
  • Applied Avionics Inc. (USA)

Report cover-

The report involved four notable activities in projecting the current market size. Extensive secondary research was conducted to gather peer market data. Our next step included primary research to validate these sizings, assumptions and results with numerous industry experts. We also used bottom-up and top-down approaches to calculate the size of this industry.

Drivers and Constraints-

Increased demand for aircraft from flight schools and high passenger traffic to drive growth

The introduction of next-generation aircraft with integrated digital interfaces is expected to reduce pilot workload and improve reliability. At the same time, the purchase of new aircraft has increased at a rapid rate due to the growing number of air commuters across the world. According to the International Air Transport Association (IATA), by 2037 there will be approximately 8.2 billion air passengers worldwide.

Various airlines are making efforts to expand their fleet. Also, the high demand for aircraft for a wide range of applications, such as personal aircraft and flight schools, would increase the growth of the aircraft switch market in the coming years. However, airlines are rapidly adopting touch screens to improve the travel experience for pilots and passengers. This can hinder growth.

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Commercial aircraft Segment to lead fueled by increasing number of deliveries worldwide

The market is categorized into cabin, cockpit, landing gear, engine and others by application. Based on the type, it is divided into manual and automatic. Below is a brief note on the platform criterion

By platform: The market is fragmented into commercial aircraft, military aircraft, general aviation aircraft, business aircraft, electric aircraft, unmanned aerial vehicles (UAV) and helicopters. Among these, the commercial aircraft segment is expected to remain at the forefront in the near future. He held 20.50% in terms of aircraft switch market share in 2020. Growing number of aircraft deliveries is expected to support its growth. In October 2020, for example, SKY Express ordered four Airbus A320neos.

Regional outlook-

Government investment plans on the rise to accelerate growth in Europe

Geographically, North America bought USD 0.53 billion in 2020 in terms of revenue. Growing number of well-known aerospace manufacturers namely Raytheon Technologies Corporation, Lockheed Martin Corporation, GE Aviation and The Boeing Company would drive the regional growth.

Europe is expected to show considerable growth due to increasing investments from developed countries, such as France and the United Kingdom, in the creation of pollution-free aircraft. In June 2020, for example, the French government announced that it was preparing to support the country’s aeronautical industry by providing an envelope of 16.85 billion dollars. It would include investments in small companies to launch carbon-neutral aircraft by the end of 2035.

Competitive landscape-

Major Players Aim to Provide Low-Cost Systems to Strengthen Their Market Positions

Most major aircraft switch manufacturers strive to release advanced technologies to refine the user interface of an aircraft system. Some of the others are focused on improving their product lines to provide cost effective solutions to their customers.

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  • introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Abstract
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • key ideas
    • Major Industry Developments – Major Contracts and Agreements, Mergers, Acquisitions and Partnerships
    • Latest technological advances
    • Analysis of the five forces of carriers
    • 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
    • Measures taken by industry/business/government to overcome the impact
    • Key development in the industry in response to the COVID-19 pandemic
  • Global Aircraft Switches Market Analysis, Outlook and Forecast, 2017 – 2028
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Type
    • Market Analysis, Insights & Forecasts – By Platform
      • Commercial aircraft
      • military aircraft
      • General aviation aircraft
      • Business aircraft
      • Electric airplane
      • Unmanned aerial vehicles
      • Helicopters
    • Market Analysis, Outlook and Forecast – By Application
      • Cabin
      • Cockpit
      • Landing gear
      • Motor
      • Others
    • Market Analysis, Outlook and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Rest of the world

TOC Continued…!

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