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Aircraft Electrical Systems Market By End User (OEM, Aftermarket) By System (Power Generation, Power Distribution, Power Conversion, Energy Storage) By Component (Generators, Conversion devices, Distribution devices, Battery Management Systems) - Growth, Future Prospects & Competitive Analysis, 2016 – 2028

The global aircraft electrical systems market report explores the critical analysis of the aircraft electrical systems industry using key parameters. The report consists of investment strategies, the need for investments in the aircraft electrical systems industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the aircraft electrical systems industry, as well as how economic and non-economic barriers are helping the aircraft electrical systems market growth. Moreover, the report analyzes the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.

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Key Highlights of the report

How are the major segments performing in the Aircraft Electrical Systems Market?

In 2021, the OEM will be the leading segment in the end user. Various countries have invested heavily in strengthening their aerial forces, increasing the delivery of military jets. Further, several initiatives are being launched to develop technologically advanced electrical systems & improve the efficiency of military aircraft in the future, which is expected to increase the demand for OEM-based aircraft electrical systems.

In 2021, the energy storage category led the aircraft electronic system industry as a whole, and this trend is anticipated to remain for the entire projection period. This is due to aircraft manufacturers collaborating closely with aircraft electrical system providers to optimize hybrid and fully electric aircraft's operational performance by optimizing the efficiency of energy storage systems. Thus, the demand for aircraft electrical systems in the energy storage segment is expected to grow significantly during the study period.

In 2021, power generation management will be the leading segment in the application. This is because, as aircraft electrical systems become more powerful, the variety of power generation types and their power increases.

In 2021, conventional technology shall lead the market. As a result of conventional electromechanical circuit breaker technology, aircraft could benefit from fault isolation, load management, better flexibility, and diagnostic health monitoring to support upgrades and modifications.

In 2021, the commercial aviation sector will dominate the global market. A number of factors contribute to this growth, including an increase in air travel, a rise in middle-class disposable income, and an increase in international trade and tourism worldwide. Strong growth in this sector has increased by aircraft orders to meet the growing number of air passengers.

Which region dominated the Aircraft Electrical Systems Market?

In 2021, North America was one of the major contributors to the global aircraft electrical systems market. It is primarily due to the presence of major players in the US, including Ametek, Amphenol Corporation, Astronics Corporation, General Aviation, Honeywell International Inc., etc. In addition to the improved domestic airline network, the surge in defense spending and the increasing number of air passengers in the United States and Canada contribute to this region's dominance.

What is the competitive environment of the Aircraft Electrical Systems Market?

In order to strengthen their global reach, vendors are developing new products and systems. They take advantage of numerous competitive strategies, including acquisitions, partnerships, and collaborations. For instance, Fahari Aviation, an Eve Urban Air Mobility Solutions subsidiary, entered into a Memorandum of Understanding/MoU with Kenya Airways in August 2021 to develop procedures and concepts for scaling electrical vertical landings and takeoffs, or EVAs (Electrical Vertical Aircraft). A key component of this partnership will be Fahari Aviation's involvement in developing the fully electric aircraft and its support for UAM's integration into Kenya Airways' overall operations.

Executive Summary

What are technical developments being developed in the Aircraft Electrical Systems Industry Market?

Component manufacturers have ample opportunities as electric and electronic aircraft technologies continue to advance. At different stages of the value chain, aircraft manufacturers are exploring novel ways to generate and distribute power. A number of advanced technologies are vying for space on future aircraft, including embedded digital systems, distributed architectures, and power electronics (for starters and generators).

Which are the key investments by the Aircraft Electrical Systems Industry Market players?

The aircraft electrical systems market has a wide range of benefits for the aircraft. Due to this, major players in the market are adopting various strategies. For instance, as of April 2018, AMETEK has signed a contract with AAR to provide power distribution units, starter generators, generator control units, and primary and secondary power distribution systems for commercial, regional, and helicopter aircraft.

Some of the major players in the market are Safran, Honeywell International Inc., Thales Group, United Technologies Corporation, GE Aviation, Astronics Corporation, Amphenol Corporation, Ametek, Esterline Technologies (Transdigm Group), Meggitt, Crane Aerospace & Electronics, Hartzell Engine Technologies, Pbs Aerospace, Nabtesco Corporation, Avionic Instruments, LLC, Radiant Power Corporation, Eaglepicher Technologies, LLC, Pioneer Magnetics, Carlisle Interconnect Technologies, Bae Systems, Delorean Aerospace, Poweroasis, Synergy Aircraft, Zee Aero, and Airspacex (Detroit Aircraft Corporation).

What are the Major Driving Factors for the Aircraft Electrical Systems Market?

Globally, there has been a steep increase in the demand for new aircraft in the last decade, primarily due to air passenger traffic. A significant growth booster for the aircraft electrical systems market could result from the manufacturers' escalating focus on optimizing aircraft performance. Electric systems will continue to gain popularity due to their lighter weight and cost-effective features in the years to come. Due to their environmental benefits and lower operational costs, these systems have gained immense popularity. Additionally, electric propulsion motors can reduce fuel expenditures and maintenance costs and eliminate direct carbon emissions. Increasing demand for new aircraft worldwide and the rise in electric aircraft demand for commercial aviation are expected to drive the growth of the aircraft electrical systems market in the coming years. In the last decade, aircraft electrical systems have become increasingly efficient, safe, and lightweight due to the more electric airplane concept. Due to the growing environmental concerns posed by the growing number of aircraft, hybrid electric and fully electric aircraft have also seen a rise in demand.

What are the Major Risks for the Aircraft Electrical Systems Market?

Currently, manufacturers are facing power density and efficiency challenges due to the miniaturization of power conversion equipment. Using expensive heat removal techniques can reduce the size, increasing the overall cost of the aircraft's electrical system. Market players face a huge challenge as they look to replace and introduce high-frequency switch-mode power supplies for aircraft, reducing the size and weight of the devices, improving their efficiency, and reducing their costs.

Which is the key component in the Aircraft Electrical Systems Market

The generator sector dominated the aircraft electrical systems market in 2021. Electrical power is generated through the combustion of mechanical energy. Generators convert mechanical energy into electrical energy. Engines also drive them through belts. Batteries power aircraft with generators when engines run at low RPMs. Alternators in modern aircraft usually replace generators. Fueled by their emerging use in fighter jets, rotorcraft, and fixed-wing aircraft, generators are engine-driven power sources that supply power during flight and maintain a charge in batteries. The growing aircraft power electronics demand will further fuel the segment expansion. Since generators are the primary power source for aircraft, their high demand is primarily due to their mounting demand. Generators convert mechanical energy into electrical energy through the use of aircraft engines.

How is the Aircraft Electrical Systems Market performing in regions?

In 2021, the global aircraft electrical systems market was dominated by North America. The regional market is primarily driven by the growing number of air passengers, particularly across the US & Canada, which leads to an increase in air traffic and, in turn, a boost in the market. Furthermore, the superior financial support of North American governments for the defense sector and the presence of leading market players and their substantial investments will also boost the regional market over the next few years. Moreover, the rapidly growing demand for fuel-efficient & low-maintenance aircraft across the region and improved domestic airline networks are other factors likely to drive the market in North America.

Besides, the aircraft electrical systems market in the Asia Pacific region is anticipated to grow fastest. Rising demand for new aircraft has made Asia-Pacific the world's most diverse and largest region, including established and emerging economies. Five subregions are incorporated into the region: China, Oceania, Northeast Asia, Southeast Asia, and South Asia. Each region has its unique market dynamics. As a result of strong growth in the aviation industry in China, South Asia, and Southeast Asia, Oceania and Northeast Asia are experiencing a relatively strong growth rate.

What is the regulatory landscape for the Aircraft Electrical Systems Market?

In the Asia Pacific region, LCCs are becoming increasingly popular due to increased affordability of air travel and relaxation of government regulations. The demand for aircraft electrical systems has accelerated due to an increase in aerospace & defense expenditures and the expansion of airline networks in emerging nations like India and China. As a result, a complicated regulatory environment is emerging, involving national and international aviation and product safety regulations.

What is the Market Size of the Aircraft Electrical Systems regarding value?

The global aircraft electrical systems market is anticipated to grow at a substantial CAGR of 6.50% in the upcoming years. The global aircraft electrical systems industry was estimated to be worth USD 20.1 billion in 2021 and was expected to be worth USD 29.33 billion by 2028.

What are the major players planning for the future of the Aircraft Electrical Systems Market?

The aviation industry has collaborated with leading aircraft electric system manufacturers on several innovative projects to develop and design such systems. For the players operating in the global aircraft electrical systems market, the demand for technologically advanced aircraft electrical systems for hybrid electric aircraft and fully electric aircraft presents lucrative growth opportunities.

Segmentation of Global Aircraft Electrical Systems Market-

Global Aircraft electrical systems Market – By End User

  • OEM
  • Aftermarket

Global Aircraft electrical systems Market – By System

  • Power Generation
  • Power Distribution
  • Power Conversion
  • Energy Storage

Global Aircraft electrical systems Market – By Component

  • Generators
  • Conversion devices
  • Distribution devices
  • Battery Management Systems

Global Aircraft electrical systems Market – By Application

  • Power Generation Management
  • Flight Control & Operation
  • Cabin System
  • Configuration Management
  • Air Pressurization & Conditioning

Global Aircraft electrical systems Market – By Technology

  • Conventional
  • More Electric
  • Electric

Global Aircraft electrical systems Market – By Platform

  • Commercial Aviation
  • Military Aviation
  • Business & General Aviation

Global Aircraft electrical systems Market – By Region

  • North America
    • S.
    • Canada
  • Europe
    • Germany
    • France
    • K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

Frequently asked questions about the global Aircraft Electrical Systems market

The aircraft electrical systems market also suffered from the COVID-19 pandemic. A number of factors remain constrained, including the COVID-19 curve, vaccination rate, and economic recovery. Governments are working closely with vaccine manufacturers to implement vaccines quickly.

North America accounted for the highest share in the global aircraft electrical systems market. The regional market is primarily driven by the growing number of air passengers, particularly across the US & Canada, which leads to an increase in air traffic and, in turn, a boost in the market.

Rapid increase in commercial aircraft production and the growing demand for fighter jets, unmanned aerial vehicles (UAVs), and drones in military defense are the major factors driving the market growth.

OEM had a major share in 2021 of the market revenue share. Besides, it is also projected to witness the fastest growth. Several initiatives are being launched to develop technologically advanced electrical systems & improve the efficiency of military aircraft in the future, which is expected to increase the demand for OEM-based aircraft electrical systems.

The energy storage segment had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period. This is due to aircraft manufacturers collaborating closely with aircraft electrical system providers to optimize hybrid and fully electric aircraft's operational performance by optimizing the efficiency of energy storage systems.

Aircraft Electrical Systems Market Scope

Report Attribute Details
Market Value in 2021 USD 20.1 billion
Market Value in 2028 USD 29.33 billion
CAGR 6.50%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Sep 2022
Category:  Automotive & Transportation
Report ID:   60652
Report Format:   PDF
Pages:   130
Rating:    4.1 (40)
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