Report ID: SQMIG20A2277
Report ID:
SQMIG20A2277 |
Region:
Global |
Published Date: December, 2024
Pages:
172
|
Tables:
119 |
Figures:
67
North America held the largest share of the market, valued at USD 1.05 billion in 2023, due to prominent manufacturers of aircraft and aircraft switch manufacturing companies in the region. The US houses giant aerospace companies such as GE Aviation, Boeing, Lockheed Martin Corporation, and Raytheon Technologies Corporation. Further, top aircraft switch manufacturers, including Collins Aerospace, Curtiss-Wright Corporation and Honeywell International Inc. are going to boost the airplane switches market growth in North America. That is the region that continues to be the leader in airplane switches market due to a combination of long-standing industry leaders and ongoing innovation.
Asia-Pacific market shall surge into growth in the given period due to increased investment in the aviation industry by China, Japan, and India. The financial boost on account of this investment shall empower airlines to procure aircraft much more rapidly, thereby increasing the demand for aircraft changes exponentially. Other than that, as governments continue to spend more money on modernizing their existing fleets, military aircraft procurement in the region is expected to expand and support market growth. The region is expected to be amongst the main growth areas for the global aircraft switches market, with suppliers and manufacturers containing a plethora of opportunities.
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Report ID: SQMIG20A2277