What is the future of Aircraft Relays & Contactors Market? Know Covid Impact on Size, Share & Forecasts
June 11, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Relays & Contactors Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Relays & Contactors Market will reach an estimated value of US$ 625.7 million in 2025. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. Some of the foremost mergers & acquisitions that took place in the market include the acquisition of Zodiac Aerospace by Safran S.A in 2018 and the acquisition of aerospace power distribution system and cockpit division of Eaton Corporation by Safran S.A. in 2014. More recently in 2019, TE Connectivity, leading connectivity and sensor solution provider, acquired Kissling Group, which is a German high-power and high-voltage relays supplier for various industries including aerospace.
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Aircraft Relays & Contactors Market Segment Insights:
By Aircraft Type:
Commercial aircraft are expected to remain the largest segment of the market during the forecast period.
By Product Type:
Contactors are likely to remain the larger segment of the aircraft relays & contactors market during the forecast period. They are generally of high power and are very high-value products as compared to relays. Dramatic design changes, especially in developing high-performance contactors with lower dissipation, are leading to the development of smart contactors, addressing additional market requirements of weight and size.
By Delivery Type:
Relays and contactors used in the aircraft industry come in a wide range of ampere ratings, ranging from small ampere ratings to hundreds of amperes. The market is segmented based on ampere type as 0-5 Amp, 5-25 Amp, and more than 25 Amp. Contactors are generally rated to switch higher loads and come in high-ampere rating range, whereas relays are generally having low-ampere rating range. The rating has been designed to meet the application requirements. More than 25 Amp is likely to remain the largest segment in the foreseen future.
By Region:
North America is projected to remain the largest market for aircraft relays & contactors during the forecast period. The USA is the growth engine of the region’s market and has the largest fleet of military aircraft and one of the largest fleets of commercial aircraft in the world. The presence of all major aircraft OEMs, tier players, relays & contactors suppliers, and component manufacturers are primarily driving the aircraft relays & contactors market in the country.
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Features of the Report
This report offers high-quality insights and is the outcome of 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.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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