Laipur, India, November 24, 2021/PRNewswire/--Stratview Research announces the release of a new market research report on the types of aircraft cockpit control panel market platforms (commercial aircraft, regional aircraft, general aviation, military aircraft, and helicopters) , By application type (lighting control and lighting panel, control and switch panel, audio control panel, etc.), by component type (acrylic body, paint, connector, embedded wiring, light, general hardware, LED, resistor and indicator ), by end user type (OE and aftermarket) and by region (North America, Europe, Asia Pacific and other parts of the world), scale, share, trend, forecast and industry analysis: 2021-2026.
This strategic evaluation report from Stratview Research provides a comprehensive analysis that reflects the reality of the aircraft cockpit control panel market today and the future market possibilities for the forecast period from 2021 to 2026. The report segments and analyzes the market in the most detailed way to provide a panoramic view of the market. The important data/information provided in the report can play a key role for market participants and investors in identifying low-hanging fruit in the market and formulating growth strategies.
Aircraft cockpit control panel market: highlights
The cockpit control panel can be defined as the integration of wires, connectors, switches and many other things. As the command post of the aircraft, it controls everything from speed, altitude, vertical speed, vertical navigation, horizontal navigation to even exchange of temperature and lighting. .
In the past 16 years, the aviation industry has been booming. However, the cross-regional grounding of the B737 Max in 2019 hindered the rapid growth of the industry, especially the negative impact on the North American market. Then, the sudden outbreak of the Covid-19 pandemic exacerbated industry challenges, leading to several bankruptcies, huge costs associated with COVID, negative cash flow, and supply chain disruption. The aircraft cockpit control panel market has failed to get rid of these challenges, with a decline of -29.4% in 2020. This has forced all major industry players to re-adjust their strategies to maintain liquidity to meet current market challenges and meet future needs.
Nevertheless, due to strong industry fundamentals and a good record of crisis management, the aircraft industry is expected to recover at an early date. The resumption of aircraft deliveries, the cancellation of grounding orders for the B737 Max, and the accelerated production of key projects such as A320 all herald signs of recovery. The aircraft cockpit control panel market may follow suit. It is expected to grow strongly at a compound annual growth rate of 8.2% in the next five years, and is estimated to be worth US$1.2 billion by 2026.
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Despite being the worst-hit part of COVID-19, commercial aircraft may still be the largest and fastest growing part of the market during the forecast period. As of the end of September 2021, the backlog of Boeing and Airbus orders was 5,058 and 6,893 respectively. Based on the current rate of construction, the large backlog of commercial aircraft orders will allow the two airframe manufacturers to continue to launch aircraft in the next 8 to 10 years. Future aircraft projects, such as C919, B777X and MC-21, may strengthen market growth in the near future.
From the perspective of application types, control and switch panels will dominate in 2020 and are expected to recover at the healthiest rate in 2021-2026. However, the lighting control and lighting panel segments are likely to witness the highest growth in 2021-2026. The lighting of the control panel increases the work in the cockpit. It is only lit when the pilot's attention is sought, making the pilot's job easier.
In terms of regions, due to the large number of original equipment manufacturers, first-line players and control panel suppliers, North America is expected to remain the largest market for aircraft cockpit control panels during the forecast period. The Asia-Pacific region is expected to achieve the highest growth during the forecast period. Increasing the fleet to support the ever-increasing passenger traffic, Boeing and Airbus have opened assembly plants for multiple projects in China, due to increased defense budgets and increasing territorial disputes between major economies, increased production and procurement of military aircraft, and The upcoming local aircraft project C919 bodes well for the aerospace industry in the Asia-Pacific region.
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The main players in the aircraft cockpit control panel market are
Firan Technology Group Corp. (FTG)
The main players are turning their attention to rebuilding their short- and long-term strategies to deal with the current predicament. However, the development of customized solutions and the continued promotion of high-performance solutions have become key strategies adopted by major players to gain a competitive advantage in the market.
The report provides market intelligence in the most comprehensive way. Retain the reporting structure to provide maximum business value. It provides important insights on market dynamics and will make strategic decisions for existing market participants and those willing to enter the market. The following are the main features of the report:
Market structure: overview, industry life cycle analysis, supply chain analysis.
Market environment analysis: growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
Market trend and forecast analysis.
Segment market trends and forecasts.
Competitive landscape and dynamics: market share, product mix, product launches, etc.
Attractive market segments and related growth opportunities.
Strategic growth opportunities for existing and new players.
This report studies the global aircraft cockpit control panel market and subdivides the market in five ways, keeping in mind the interests of all stakeholders in the value chain. Here are five ways to segment the market:
Aircraft cockpit control panel market, by platform type
Commercial aircraft (regional analysis: North America, Europe, Asia Pacific and other parts of the world)
Regional aircraft (regional analysis: North America, Europe, Asia Pacific and RoW)
General Aviation (Regional analysis: North America, Europe, Asia Pacific and other parts of the world)
Military aircraft (regional analysis: North America, Europe, Asia Pacific and other parts of the world)
Helicopters (regional analysis: North America, Europe, Asia Pacific and RoW
Aircraft cockpit control market, by application type
Lighting control and lighting panels (regional analysis: North America, Europe, Asia Pacific and other parts of the world)
Control and switch panels (regional analysis: North America, Europe, Asia Pacific and other parts of the world)
Audio control panel (regional analysis: North America, Europe, Asia Pacific and RoW)
Other (regional analysis: North America, Europe, Asia Pacific and RoW
Aircraft cockpit control panel market, by component type
Acrylic body (regional analysis: North America, Europe, Asia Pacific and the world)
Paint (regional analysis: North America, Europe, Asia Pacific and the world)
Connectors (regional analysis: North America, Europe, Asia Pacific and RoW)
Embedded wiring (regional analysis: North America, Europe, Asia Pacific and other regions of the world)
Lights (regional analysis: North America, Europe, Asia Pacific and the world)
General hardware (regional analysis: North America, Europe, Asia Pacific and RoW)
LED (regional analysis: North America, Europe, Asia Pacific and other parts of the world)
Resistors (regional analysis: North America, Europe, Asia Pacific and the world)
Indicators (regional analysis: North America, Europe, Asia Pacific and RoW
Aircraft cockpit control panel market, by end user type
OE (Regional Analysis: North America, Europe, Asia Pacific and RoW)
Aftermarket (regional analysis: North America, Europe, Asia Pacific and RoW
Aircraft cockpit control panel market, by region
North America (country analysis: United States, Canada and Mexico)
Europe (country analysis: Germany, France, UK, Russia and other parts of Europe)
Asia Pacific (country analysis: China, Japan, India and other regions in Asia Pacific)
Rest of the world (country analysis: Saudi Arabia, Brazil, etc.)
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