According to the research report, the global aircraft electrical system market share is expected to reach USD 28.32 Billion by 2028, at a CAGR of 6.5% during the forecast period.
An aircraft electric system is an independent component system that transmits, produces, utilizes, distributes, and stores electrical energy. An electric system is an essential and integral component of the designs of the aircraft. The electrical system complexity and capacity differ colossally between a piston-powered, light, and single-engine general aviation aircraft and a modern multi-engine jet aircraft that is commercial.
The aircraft electric system market has been adversely impacted by the covid-19 pandemic. Due to air travel restrictions and the closure of borders globally, several companies in the aircraft electrical system market were forced to stop manufacturing. This interval in operations of the business is head-on, impacting the revenue of the market. Though a handful of industries carried on with operations, slowing down of supplies of raw material restricting the supply of produced goods completed production and lessened capacity utilization rates.
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Important Questions Being Answered By The Market Report
What is the present size of the additional aircraft electrical system market?
What is the impact of covid-19?
What are a few technological progressions in the aircraft electrical system market?
Which are the top players involved in the business?
Which regions are predicted to hold the highest share in the market?
Which market dynamics affect the business most?
What are the elements pushing the market growth?
The Aircraft Electrical System Market: Growth Leading Factors
The key element pushing the market is the acquisition of more electrical systems in the aircraft instead of utilizing a traditional electrical system. In conventional electrical systems, hydraulics execute many operations to set in motion flight control operations, landing gear, and aircraft management of power generation. But traditional methods are significant and lead to the increase in the aircraft weight. Thus the system implements an electric system distributed to drive flight operations. The design is lightweight and costs practical, lessening the maintenance and weight of the aircraft.
The advancement of technology in power electronic systems and the requirement to advance fuel cells to lessen emission will generate an opportunity for manufacturers for aircraft electrical systems. Manufacturers are investing excessively in opening new factories and determining technologies to improvise additional aircraft electrical systems. While researching, manufacturers generate aircraft that are virtual, which assists in accelerating the process development and eventually reducing OEM costs by lessening the requirement for airframe testing and engine power systems.
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Top Market Players
Acme Aerospace Inc.
Avionic Instruments LLC
Carlisle Interconnect Technologies
Crane Aerospace & Electronics
Delorean Aerospace LLC
Hartzell Engine Technologies LLC
Radiant Power Corp
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Global Aircraft Electrical Systems Market: Report Scope
Market Size 2020 Value
USD 19.37 Billion
Market Outlook for 2028
USD 28.32 Billion
Expected CAGR Growth
CAGR 6.5% from 2021 – 2028
2021 – 2028
Top Market Players
Acme Aerospace Inc. & Avionic Instruments, LLC, AMETEK Inc., Amphenol Corporation, Astronics Corporation, BAE Systems, Carlisle Interconnect Technologies, Collins Aerospace, Crane Aerospace & Electronics, Delorean Aerospace LLC, EaglePicher Technologies, Esterline Technologies, GE Aviation, Hartzell Engine Technologies LLC, Honeywell International, Meggitt plc, PBS AEROSPACE, Pioneer Magnetics, Radiant Power Corp, Safran SA, Thales Group
By Aircraft, By System, By Component, By Application, By Region
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Global Aircraft Electrical Systems Market: Key Segmentation
Depending on components, the market is divided into generators, relays, contractors, conversion components, circuit breakers, batteries, and others. The aircraft electrical systems market is being dominated by the generator segment. Generators are a prominent source of electrical energy. Generators transform mechanical energy into electrical energy and are found in light aircraft. Dependent on application, the market is divided into flight control, power generation management, cabin system, flight control and operation, air pressurization and conditioning, and configuration management. The power generation management system entails a network of electrical distribution that delivers precise management and safeguarding of an aircraft from loads that are electrical and enhanced safety of flight. Based on the plane, commercial aircraft holds high dominance. It offers a good growth trajectory and is seeing a restrained shift from conventional pneumatic to hydraulic components to electrical components, which supports the power demand and finally pushes the market of electrical systems. Depending on the system, the segment of power generation is dominant. The advancement of engines that are high trust and growing demand for efficiency supports the need for power, steadiness in engine control, and highly integrated electric power generation systems.
Depending on the region, North America is emerging as a nation to lead the aircraft electrical system market. The supremacy of this region is because of enhanced domestic airline network, development in defense spending, and an increasing number of air passengers. Also, the market in Europe is going to witness substantial growth. The result is because of the growing demand for aircraft that are lightweight from countries like France, the UK, and Germany. For commercial aircraft, the aviation industry in the UK is acquiring power management solutions that are advanced.
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The Market Is Predominantly Divided into Aircraft, System, Component, Application, And Region
Aircraft Electrical Systems Market: By Aircraft Outlook
Aircraft Electrical Systems Market: By System Outlook
Power Conversion and Storage
Aircraft electrical systems market: By component outlook
Relays & Contactors
Aircraft Electrical Systems Market: By Application Outlook
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