Aircraft Electrical System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Aircraft Electrical System Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of aircraft electrical system market

The aircraft electrical system market size was valued at USD 19.95 billion in 2019, and the market is now projected to grow to USD 45.24 billion by 2032, exhibiting a CAGR of 6.5% during the forecast period of 2020-2027.

The outbreak of the COVID-19 disease in China in December of 2019 is a factor hampering the growth of aircraft electrical system. Aviation is at some of its most paramount junctures: new forms of travel; travel bans in the context of the coronavirus; and commercialaircraft supply chains. According to the IATA global passenger traffic report, there was a reduction of 14.2% in passenger revenue in 2020 from air travel. This hindered the aircraft electrical system market growth.

The greatest driver to this market is substituting More Electric Systems in aircraft rather than having a standard electrical system. In conventional electric systems, hydraulics are used in many operations including the extension/retraction of the landing gear, flight control operations and management of power generation for the aircraft. But conventional systems are cumbersome and contribute to direct augmentation of the aircraft’s weight. These factors boost the aircraft system market share.

In the earlier days of aviation technology, conventional batteries where deployed on airplanes such as the Lead Acid (Pb-acid), Nickel Cadmium (NiCd) and Nickel Metal Hydride (NiMH). Present day batteries that incorporate technological support are Lithium-ion (Li-ion), Lithium-Sulfur (Li-S), Lithium Air (Li-air) and Zinc Air (Zn-air). These batteries are enhancing flight operational capabilities of airplanes. Specifically, Li-S batteries are quickly gaining popularity since the materials used are relatively lighter and possess the capability for reverse charging and discharge and generate higher energy density than earlier lithium-ion batteries.

Comprehensive aircraft electrical system market

The industrial sensors market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided into 5 Segments, By Platform Analysis, By Component Analysis, By Application Analysis, By Technology Analysis and By End-User Analysis. According to the platform, the market is divided into fixed-wing and rotary-wing. The fixed wing market is classified into commercial aviation, military aviation, business & general aviation and fixed-wing UAVs. In terms of components, the market is divided between generators, conversion devices, distribution devices, battery control systems, and other. According to the application insight the market is categorized into power generation management, flight control & operation, cabin system, configuration management and air presser & conditioning. From a technology prospective, the market is divided into conventional, electric, and other categories. In regards to end-users, OEM and aftermarket divide this market. For the course of the forecast period, it was expected that the OEM segment would account for the highest market share. This growth can be blamed to the number of delivery of military jets all over the world.

The market size in North America stood at USD 8.41 billion in 2019. The region can be expected to be prominent in the aircraft electrical system market share over the forecast period. This will mainly be attributed to the number of industry players mainly in the United States such as Ametek, Amphenol Corporation, Astronics Corporation, GE Aviation, Honeywell International Inc., among others. This region has also grown due to the expansion of domestic airline networks, an increase in military spending and a rapidly rising airline passenger traffic especially in the United States and Canada.

Ametek (U.S.), Amphenol Corporation (U.S.), Astronics Corporation (U.S.), Avionic Instruments, LLC (U.S.), Bae Systems (U.K.), Carlisle Interconnect Technologies (U.S.), Crane Aerospace & Electronics (U.S.), Eaglepicher Technologies, LLC (U.S.), Esterline Technologies (TRANSDIGM GROUP) (U.S.), GE Aviation (U.S.), Hartzell Engine Technologies (U.S.), Honeywell International Inc. (U.S.), Meggitt (U.K.), Nabtesco Corporation (Japan), PBS Aerospace The U.S.), Pioneer Magnetics (U.S.), Radiant Power Corporation (U.S.), Safran (France), Thales Group (France), United Technologies Corporation (U.S.) are significant players in the Semiconductor & Electronics market. They are the key player that ensures the industry's success while still having to keep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In May 2021, Emergency pyrotechnic electrical shutdown solutions between Safran Electrical & Power and Pyroalliance were reached through a partnership agreement. This development is focusing on high power electric networks of the next generation aircraft.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD billion)

Segmentation By Platform

Fixed-Wing

Commercial Aviation

Military Aviation

Business & General Aviation

Fixed Wing UAVs

Rotary Wing

Civil Aviation

Military Aviation

General Aviation

Rotary Wing UAVs

By Component

Generators

Starter generator

Auxiliary Power Unit (APU)

Integrated Drive Generator (IDG)

Variable speed constant frequency (VSCF) generator

Generator Control Unit (GCU)

Conversion Devices

Inverter

Converter

Transformer Rectifier Unit (TRU)

Distribution Devices

Wires & cables

Connectors & connector accessories

Bus bars

Battery Management Systems

Others

By Application

Power Generation Management

Flight Control & Operation

Cabin System

Configuration Management

Air Pressurization & Conditioning

By Technology

Conventional

Electric

Hybrid electric

Fully electric

Others

By End-User

OEM

Aftermarket

By Geography

North America (By Platform, By Component, By Application, By Technology, By End User, and By Country)

The U.S.

Canada

Europe (By Platform, By Component, By Application, By Technology, By End User, and By Country)

The U.K.

Germany

France

Russia

Italy

Rest of Europe

Asia Pacific (By Platform, By Component, By Application, By Technology, By End User, and By Country)

China

India

Japan

Australia

South Korea

Rest of Asia Pacific

The Middle East (By Platform, By Component, By Application, By Technology, By End User, and By Country)

Saudi Arabia

Israel

Turkey

Rest of the Middle East

Rest of the World (By Platform, By Component, By Application, By Technology, By End User, and By Country)

Africa

Latin America