An aircraft electrical system Market Share is a critical component of modern airplanes that provides electrical power for various functions, including lighting, avionics, communication, navigation, and passenger entertainment systems. The electrical system consists of a generator or alternator that produces electricity, a battery or batteries to store electricity, and a complex network of wiring, switches, and circuit breakers that distribute electricity throughout the aircraft.
Information Source:
https://www.fortunebusinessinsights.com/aircraft-electrical-system-market-104822
The electrical system of an aircraft is divided into two main categories: the primary power system and the secondary power system. The primary power system provides power to essential systems such as flight control, landing gear, and anti-icing systems, while the secondary power system powers non-essential systems such as cabin lighting and entertainment systems.
Modern aircraft electrical systems are highly sophisticated, with advanced technologies such as power management systems, electrical load management systems, and intelligent power distribution systems. These systems are designed to ensure optimal power distribution and utilization while minimizing the risk of electrical failures or malfunctions.
Overall, aircraft electrical systems play a crucial role in ensuring the safe and efficient operation of modern airplanes, and continuous advancements in technology are expected to further improve the reliability and performance of these systems in the future.
List of Key Companies Profiled in the Aircraft Electrical System Market Report:
- United Technologies Corporation (The U.S.)
- Safran (France)
- Pioneer Magnetics (The U.S.)
- Nabtesco Corporation (Japan)
- Honeywell International Inc. (The U.S.)
- GE Aviation (The U.S.)
- Eaglepicher Technologies, LLC (The U.S.)
- Carlisle Interconnect Technologies (The U.S.)
- Avionic Instruments, LLC (The U.S.)
- Amphenol Corporation (The U.S.)
- Thales Group (France)
- Radiant Power Corporation (The U.S.)
- PBS Aerospace (The U.S.)
- Meggitt (The U.K.)
- Hartzell Engine Technologies (The U.S.)
- Esterline Technologies (TRANSDIGM GROUP) (The U.S.)
- Crane Aerospace Electronics (The U.S.)
- BAE Systems (The U.K.)
- Astronics Corporation (The U.S.)
- Ametek (The U.S.)
The global aircraft electrical system market size is projected to reach USD 27.29 billion by 2027, exhibiting a CAGR of 5.83% during the forecast period. Expanding defense budgets of leading economies of the world will generate unprecedented opportunities for market players, highlights Fortune Business Insights™ in its report, titled “Aircraft Electrical System Market Size, Share Industry Analysis, By Platform (Fixed-Wing and Rotary Wing), By Component (Generators, Conversion Devices, Distribution Devices, Battery Management Systems, and Others), By Application (Power Generation Management, Flight Control Operation, Cabin System, Configuration Management, and Air Pressurization Conditioning), By Technology (Conventional, Electric, and Others), By End User (OEM and Aftermarket) and Regional Forecast, 2023-2027”.
As per the report, the value of the global market was estimated to be USD 19.95 billion in 2023. The report also offers the following:
- Granular analysis of the factors driving the growth of the market;
- Piecemeal diagnosis of the different market segments;
- Unmatched study of the regional prospects and competitive milieu of the market; and
- Exhaustive assessment of the various challenges facing the market.
Regional Insights
Robust Domestic Airline Network to Fuel the North America Market
North America, with a size of USD 8.41 billion in 2019, is expected to dominate the aircraft electrical system market share during the forecast period. The principal factor propelling the regional market is the existence of a strong and reliable domestic airline network across the US and Canada. In addition, high defense spending by the US government and quick adoption of modern aircraft technologies by the US and Canadian Air Forces will also accelerate the regional market growth.
In Europe, increasing adoption of next-generation power management systems for commercial aircraft by the UK and growing preference for lightweight airplanes in the region are anticipated to boost the market. On the other hand, the market in Asia Pacific will be driven by the escalating demand for air travel in India and China and the rapid expansion of the commercial airline industry in China.
Competitive Landscape
Introduction of Advanced Aircraft Electrical Solutions to Intensify Market Competition
A prominent feature of the market for aircraft electrical systems is the development and introduction of advanced, sophisticated solutions by key players. Through this strategy, companies are strengthening their portfolios and augmenting the prospects of the aviation industry.
Industry Developments:
- November 2020: Carlisle Interconnect Technologies announced that it will be extending interconnect solutions for a vast array of next-gen air mobility applications. The company is known for its product lineup that ranges from specialty and filtered connections and integrated systems to advanced avionics and high-performance wire and cable.
- August 2020: BAE Systems announced that it will be developing a series of power sources for small electric aircraft. The new power sources will replace the conventional aircraft engines and connect flight controls with energy and power management systems.
