Aircraft Electrical Systems Market

Aircraft Electrical Systems Market Research, 2030

Aircraft Electrical Systems Market to surpass USD 37.4 Billion by 2030, which is valued at 18.74 billion in 2019 at a  compound annual growth rate of 6.50%

An aircraft electrical system is a self-contained system network that produces, transmits, distributes, utilizes, and stores electric power. An electrical device is an important and necessary part of all aircraft designs except the simplest them. The efficiency and complexity of the electrical system differ greatly between a light, piston-powered, single-engine GA aircraft and a modern commercial jet aircraft with multi engines. However, the electrical structure for the aircraft shares many of the same basic components at both ends of the complexity continuum. By removing the need for hydraulic reservoirs, the change from hydraulic to electric power makes the aircraft lighter. Reduction in the total weight of the aircraft results in greater fuel efficiency. Thus, aircraft performance optimization is a significant driver of growth for the aircraft electrical systems industry.

Market Highlights

Aircraft Electrical Systems Market is expected to project a CAGR of 6.50% during the forecast period, 2019-2030

Increased production of lightweight aircraft by aircraft manufacturers to improve operating efficiency along with compliance with the strict regulatory requirements and the emergence of lower weight cabling along with an increasing preference for high-density batteries has a positive impact on the market share of aircraft electrical systems thereby increasing growth.

Aircraft Electrical Systems Market: Segments

OEM segment accounted for XX% of the global volume in 2019 and is anticipated to grow at the highest CAGR

Global aircraft electrical systems market is segmented by end-use into Original Equipment Manufacturers (OEM) and Aftermarket. The Asia Pacific area has seen a significant rise in demand for single-aisle aircraft. OEMs offer products for lighting which can be customized to suit the airline's ambiance. Growing aircraft deliveries, and growing airline's emphasis on implementing customized lighting to improve passenger comfort, are projected to boost OEM segment development.

The generators segment accounted for XX% of the global volume in 2019 and is anticipated to grow at the highest CAGR.

By component, the market can be categorized into Generators, Conversion devices, Distribution devices, and Battery management services. Generators are the primary electric power source. Mechanical energy is converted into electrical energy by generators and contained in light aircraft. Also, they are powered by the engine through a belt arrangement. Generator aircraft use low-Engine RPM battery control. Nowadays alternators are used as a substitute for generators in most aircraft which is increasing its growth in the segment.

The commercial aviation platform segment accounted for XX% of the global volume in 2019 and is anticipated to grow at the highest CAGR.

By platform, the Aircraft Electrical Systems Market can be segmented into Commercial Aviation, Military Aviation, and Business and general aviation. Factors such as increasing air travel, the rise in disposable income of the middle-class population, and increased international trade and tourism across the globe are expected to increase the growth of the commercial aviation sector in the aircraft systems market. Strong growth in this sector has resulted in an increased number of aircraft orders dealing with the increasing traffic of air passengers. The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA.

Market Dynamics

Driver

Increased efficiency and low weight to increase the market growth

Increased production of lightweight aircraft by aircraft manufacturers to improve operating efficiency along with compliance with the strict regulatory requirements and the emergence of lower weight cabling along with an increasing preference for high-density batteries has a positive impact on the market share of aircraft electrical systems thereby increasing growth. By removing the need for hydraulic reservoirs, the change from hydraulic to electric power makes the aircraft lighter. Reduction in the total weight of the aircraft results in greater fuel efficiency. Thus, aircraft performance optimization is also a significant driver of growth for the aircraft electrical systems industry.

Restraint

High electrical systems cost is expected to restraint the growth of the Aircraft Electrical Systems Market

Manufacturers are facing power density and reliability problems due to the miniaturization of power conversion equipment. Volume reduction is accomplished using costly heat removal techniques which results in higher electrical system costs for the aircraft thus hampering the aircraft electrical systems market.

Global Aircraft Electrical Systems Market: Regions

The region segment can be further divided into five major types including North America, Latin America, Europe, APAC, and MENA. North America is expected to hold the highest CAGR and dominate the regional segment in the forecasted period. Factors affecting the growth of the market for aircraft electrical systems in the North American region are the rising demand for aircraft for commercial applications and their increasing usefulness in the defense sector for carrying out transport and surveillance activities. Huge investments in researching and developing more electric aircraft and growing demand for fuel-efficient and low-maintenance aircraft are also factors that drive growth in this region's market for electrical aircraft systems. The presence of multiple airports along with vast air passenger traffic also spurs market growth.

The Global Aircraft electrical systems market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
• APAC Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
• MENA Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA

Global Aircraft Electrical Systems Market: Key Players

• Astronics 

Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis

• Boeing
• Safran
• UTC Aerospace
• Fokker technologies
• Thales
• Lockheed Martin
• Zodiac Aerospace
• Esterline Control Systems
• Eaton
• Other prominent players

Aircraft Electrical Systems Market report also contains analysis on:

Aircraft Electrical Systems Market Segments:

• By end use 
  • Original Equipment Manufacturer
  • Aftermarket
• By component:
  • Generators
  • Conversion devices
  • Distribution devices
  • Battery management services
• By platform :
  • Commercial aviation
  • Military aviation
  • Business and general aviation 
• Aircraft Electrical Systems Market Dynamics
• Aircraft Electrical Systems Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints

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