The aircraft switches market is projected to grow from USD 2.2 billion in 2019 to USD 2.6 billion by 2025, at a CAGR of 3.2% during the forecast period.
Aircraft switches refer to a physical component used to control the signal flow. It allows a connection to be closed or open. When closed, it cuts off the flow of the signal and breaks the connection. For networks in aircraft, switches are components that filter and direct the network to their destination. These switches are of various types such as automatic or manual. Automatic switches are sensor switches that are toggled or activated by the sensor feedback, whereas the crew toggles manual switches.
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MarketsandMarkets expects the global aircraft switches market to grow from USD 2.2 billion in 2019 to USD 2.6 billion by 2025, at a CAGR of 3.2% from 2019 to 2025. Factors such as the increasing influence of electronics in aircraft and growing demand for in-flight entertainment & connectivity (IFEC) are some of the major drivers for aircraft switches.
By application, the avionics segment of the market is expected to grow at the highest CAGR during the forecast period. Avionics switches are present across aircraft electrical systems that use network switches to develop and maintain the connection between components and flight computers. Avionics switches include relays and network switches.
The aftermarket segment of the aircraft switches end-user market is expected to grow at a high CAGR during the forecast period. Aftermarket companies primarily perform the function of service, maintenance, and upgrades of aircraft switches. Increasing aircraft fleet size is one of the most significant factors contributing to the demand for aircraft retrofit parts, thereby driving the growth of the aftermarket segment.
In terms of geographic coverage, the aircraft switches market has been segmented into four regions, namely, North America, Europe, Asia Pacific, and Rest of the World. The aviation industry is growing at a significant pace in the Asia Pacific region, mainly driven by increasing air passenger traffic. The increase in disposable income and growth in air passenger traffic have resulted in the growing demand for new aircraft deliveries in this region, which, in turn, boosts the requirement of aerospace switches.
This market is driven by various factors, one of which is technological advancements in aircraft switches such as, network switches and relays that are responsible for performing the switching action automatically to transfer data and power flow through various aircraft systems. With the increasing number of electronic components in an aircraft, switches are evolving and moving towards touch screen technology as well as solid-state switches that take up less depth within the cockpit panel. Along with this space-saving and weight reduction, the aim in the industry is to reduce pilot load and distraction while using the switches and make them as accessible as possible. Touch screen displays with switches within the displays integrate with traditional switches within the cockpit, which is driving the aerospace switches market in a digital direction. The key manufacturing companies of aircraft switches, along with small and medium companies, distributors, and end users are the key stakeholders in the supply chain of the commercial aircraft switches market.