The globalaircraft electrical system market sizewas USD 19.95 billion in 2019 and is projected to reach USD 27.29 billion by 2027, exhibiting a CAGR of 5.83% during the forecast period. The aircraft electrical system market has experienced substantial growth in recent years, driven by advancements in aviation technology, the increasing demand for electric aircraft, and the need for more efficient and reliable electrical systems. This brief provides an overview of the key factors influencing the aircraft electrical system market and its current trends.
Informational Source:
https://www.fortunebusinessinsights.com/aircraft-electrical-system-market-104822
Key Companies Covered inAircraft Electrical System Market are:
- Ametek(The U.S.)
- Amphenol Corporation (The U.S.)
- Astronics Corporation(The U.S.)
- Avionic Instruments, LLC(The U.S.)
- Bae Systems (The U.K.)
- Carlisle Interconnect Technologies (The U.S.)
- Crane Aerospace Electronics (The U.S.)
- Eaglepicher Technologies, LLC(The U.S.)
- Esterline Technologies (TRANSDIGM GROUP) (The U.S.)
- GE Aviation (The U.S.)
- Hartzell Engine Technologies (The U.S.)
- Honeywell International Inc. (The U.S.)
- Meggitt (The U.K.)
- Nabtesco Corporation (Japan)
- PBS Aerospace (The U.S.)
- Pioneer Magnetics (The U.S.)
- Radiant Power Corporation (The U.S.)
- Safran (France)
- Thales Group (France)
- United Technologies Corporation (The U.S.)
1. Market Overview:The aircraft electrical system market encompasses a broad spectrum of components and systems designed to manage and distribute electrical power within an aircraft. These systems are critical for the operation of various avionic and non-avionic functions, ranging from cockpit instrumentation to in-flight entertainment.
2. Key Drivers:
- Rise of Electric Aircraft:The emergence of electric and hybrid-electric aircraft is a major driver for the aircraft electrical system market. These aircraft rely heavily on advanced electrical systems to power propulsion and other critical functions.
- Increasing Aircraft Electrification:Aircraft are becoming more electrified, with traditional hydraulic and pneumatic systems being replaced by electrical counterparts for improved efficiency, weight savings, and maintenance benefits.
- Growing Demand for Lightweight Components:The aviation industry's continuous pursuit of fuel efficiency and reduced emissions is promoting the use of lightweight electrical components and systems.
3. Market Segmentation:
- By Component:The market includes generators, power distribution systems, batteries, and electrical wiring interconnection systems (EWIS).
- By Aircraft Type:Segments comprise commercial aircraft, military aircraft, and general aviation.
- By System:Avionic systems, lighting systems, emergency systems, and power systems are key segments.
4. Competitive Landscape:
- Major players in the aircraft electrical system market include Honeywell International Inc., Thales Group, Safran, and United Technologies Corporation.
- Companies are investing in research and development to introduce innovative and technologically advanced electrical systems for aircraft.
5. Challenges:
- Reliability and Safety:Ensuring the reliability and safety of aircraft electrical systems is a critical challenge. Failures in these systems can have severe consequences, necessitating stringent quality standards and testing.
- Integration Complexity:The integration of advanced electrical systems into existing aircraft or the development of systems for new aircraft can be complex, requiring seamless coordination between various components.
6. Future Trends:
- More Electric Aircraft (MEA):The aviation industry is moving toward MEA concepts, where traditional mechanical and hydraulic systems are replaced by electrical alternatives for increased efficiency and reduced weight.
- Advanced Power Management:The development of intelligent power management systems that optimize the distribution of electrical power based on real-time demands is a growing trend.
7. Regional Outlook:
- North America and Europe are prominent regions in the aircraft electrical system market, driven by the presence of major aerospace manufacturers and a robust aviation industry.
- Asia-Pacific is witnessing increased demand, attributed to the rising number of air passengers and a growing emphasis on modernizing aircraft fleets.
In conclusion, the aircraft electrical system market is undergoing significant transformation as the aviation industry embraces electrification for improved efficiency and sustainability. The integration of advanced electrical components and systems is expected to play a pivotal role in shaping the future of aircraft design and performance.
