Global Aircraft Electrical Systems Market; By End Use (Original Equipment Manufacturer (OEM) and Aftermarket); By Components (Generators, Conversion Devices, Distribution Devices and Battery Management services.); By Platform (Commercial Aviation, Military Aviation and Business and General Aviation) and By Region –Analysis of Market Size, Share & Trends for 2016 – 2019 and Forecasts to 2030
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 in all aircraft designs except the simplest in them. The efficiency and complexity of the electrical system differs 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.
Global Aircraft Electrical Systems Market registered a growth of USD XXX billion in 2019 and is expected to grow at a CAGR of XX% till 2030. Increased production of lightweight aircrafts by aircraft manufacturers to improve operating efficiency along with compliance with the strict regulatory requirements and the emergence of lower weight cabling along with 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
Global Aircraft Electrical Systems Market has been segmented on the basis of end usage, components, platform and region.
OEM segment accounted for XX% of the global volume in 2019 and is anticipated to grow at a highest CAGR.
Global aircraft electrical systems market is segmented by end use into Original Equipment Manufacturer (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 airlines emphasis on implementing customized lighting to improve passenger comfort, are projected to boost OEM segment development.
Global Aircraft Electrical Systems Market: Market Dynamics
Increased efficiency and low weight to increase market growth
Increased production of lightweight aircrafts by aircraft manufacturers to improve operating efficiency along with compliance with the strict regulatory requirements and the emergence of lower weight cabling along with increasing preference for high density batteries has a positive impact on the market share of aircraft electrical systems thereby increasing growth.
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 by means of 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 highest CAGR and dominate the region 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. Presence of multiple airports along with vast air passenger traffic also spurs the market growth.
Global Aircraft Electrical Systems Market: Key Players
- ·Company Overview
- ·Business Strategy
- ·Key Product Offerings
- ·Financial Performance
- ·Key Performance Indicators
- ·Risk Analysis
- ·Recent Development
- ·Regional Presence
- ·SWOT Analysis
- UTC Aerospace
- Fokker technologies
- Lockheed Martin
- Zodiac Aerospace
- Esterline Control Systems
- Other prominent players
Aircraft Electrical Systems Market report also contains analysis on:
- Aircraft Electrical Systems Market Segments:
- By end use:
- ·Original Equipment Manufacturer
- By component:
- ·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