Market Highlights
The Aerospace Cockpit Control Panels Market is likely to grow at a healthy CAGR of 4.4% over the next five years to reach an estimated value of US$1.2 billion in 2028.
The Cockpit control panel is a critical component that provides the pilot with access to various systems and controls necessary for flying the aircraft. The function of the cockpit control panel includes monitoring flight parameters, controlling flight systems, communicating with ground personnel, and receiving warning alerts.
The sudden outbreak of the COVID-19 pandemic exacerbated industry challenges, resulting in several bankruptcies, massive COVID-related costs resulting in negative cash flows, and supply-chain disruption. The aircraft cockpit control panel market could not escape from these challenges and witnessed a decline of -14.2% in 2020. This has compelled all major industry players to realign their strategies to maintain liquidity to face current market challenges and meet future demand. The industry registered a steep recovery from 2022 onwards.
Segments Analysis
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Segmentations
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List of Sub-Segments
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Dominant and Fastest-Growing Segments
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Platform-Type Analysis
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Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Defense, UAV, and Space.
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Commercial aircraft is the biggest demand generator. Space, in the long run, is likely to exhibit the highest growth.
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Application-Type Analysis
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Lighting Control & Illuminated Panel, Control & Switch Panel, Audio Control Panel, and Others
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Control & Switch Panels are anticipated to remain dominant, whereas lighting control & illuminated panels will be the fastest-growing application type.
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Component-Type Analysis
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Acrylic Body, Paint, Connectors, Embedded Wiring, Lamps, Common Hardware, LEDs, Resistors, and Indicators
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Indicators are likely to maintain their dominance in the market during the forecast period, whereas embedded wiring is likely to be the fastest-growing component type.
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End-User-Type Analysis
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OE and Aftermarket
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OE remains the dominant as well as the faster-growing end-user type over the next five years.
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Region-Type Analysis
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North America, Europe, Asia-Pacific, and the Rest of the World
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North America is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the fastest rate.
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By Platform Type
The aerospace cockpit control panels market is segmented into commercial aircraft, regional aircraft, general aviation, helicopters, defense, UAVs, and space. Commercial aircraft is expected to remain the largest and fastest-growing platform type in the market during the forecast period.
Key factors propelling the demand for cockpit control panels in the commercial aircraft segment are the expected increase in production rates of the best-selling aircraft programs; expected market entry of new players, such as COMAC and Irkut, and rebounding aircraft deliveries across regions. Both, Boeing and Airbus, are likely to ramp up the production rates of their key programs in the near future, targeting to reach their pre-COVID levels by 2024 or 2025. Supply chain disruptions initially caused by the pandemic further aggravated by recent geopolitical challenges are affecting the recovery trajectories.
By Application Type
The market is segmented into lighting control & illuminated panels, control & switch panels, audio control panels, and others. Control & Illuminated Panels are estimated to remain the dominant application type in the market during the forecast period, whereas lighting control & illuminated panels are likely to witness the highest growth during the same period. The addition of illumination to the control panel has eased work in the cockpit. It just lit up in the situation of seeking the pilot’s attention, making the job of pilots easy.
By Component Type
The market is segmented into acrylic bodies, paint, connectors, embedded wiring, lamps, common hardware, LEDs, resistors, and indicators. Indicators are estimated to remain the dominant component type in the market during the forecast period owing to their advantages, such as improved situational awareness, enhanced safety, increased efficiency, simplified navigation, and it also enhances better decision-making capabilities.
Regional Analysis
North America is anticipated to maintain its dominance in the aerospace cockpit control panel market during the forecast period, owing to the presence of a large number of OEMs, tier players, and control panel suppliers, Asia-Pacific is expected to witness the highest growth during the forecast period.
Increasing aircraft fleets to support rising passenger traffic, the opening of assembly plants by Boeing and Airbus in China for multiple programs, increased production and procurement of military aircraft due to rising defense budgets and growing territorial disputes among key economies, and the upcoming indigenous aircraft program C919 are all great signs for the aerospace industry in Asia-Pacific.
Key Players
The following are the key players in the aerospace cockpit control panel market:
- Safran S.A.
- Leonardo S.p.A.
- TransDigm Group
- Collins Aerospace
- Astronics Corporation
- Latecoere SA
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aerospace cockpit control panels market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables Will You Get in this Report?
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Key questions this report answers
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Relevant contents in the report
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How big is the sales opportunity?
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In-depth Analysis of the Aerospace Cockpit Control Panels Market
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How lucrative is the future?
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The market forecast and trend data and emerging trends
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Which regions offer the best sales opportunities?
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Global, regional, and country-level historical data and forecasts
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Which are the most attractive market segments?
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Market segment analysis and forecast
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Which are the top players and their market positioning?
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Competitive landscape analysis, Market share analysis
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How complex is the business environment?
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Porter’s five forces analysis, PEST analysis, Life cycle analysis
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What are the factors affecting the market?
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Drivers & challenges
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Will I get the information on my specific requirement?
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10% free customization
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Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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