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The focus of this paper is to understand the impact of the material properties of GaN, exploited using a vertical device, in power switching by estimating switching loss. The study was performed with a cascoded current aperture vertical electron transistor (CAVET). The normally OFF device was simulated and analyzed using a Silvaco ATLAS 2-D drift diffusion model integrated to SPICE-based circuit simulator. Besides evaluating the performance space and, hence, potential application space for GaN CAVETs, this paper presents significant accomplishment in establishing a device to circuit model, thereby, offering a reliable method of evaluating GaN-based power transistors. The accuracy of the model was established through the excellent agreement of simulated data with the data sheet specs of a commercial cascoded GaN high electron mobility transistor. The model was successfully applied to compare SiC MOSFETs with GaN CAVETs. A cascoded GaN CAVET has $2\times $ faster switching time, $3\times $ lower switching loss compared with standard commercial SiC MOSFET, owing to the higher electron mobility in GaN. Operating at frequencies of megahertz with low power loss, a GaN CAVET will, therefore, lead to smaller converter size and higher system efficiency. [ABSTRACT FROM PUBLISHER]