Aug 5, 2020   SOURCE: BusinessWire

Worldwide Aircraft Electrical Systems Industry to 2030 - Featuring Safran, Honeywell International & Thales Group Among Others - ResearchAndMarkets.com

The "Aircraft Electrical Systems Market by System (Power Generation, Conversion, Distribution, Energy Storage), Component, Technology, Platform (Commercial Aviation, Military Aviation, Business & General Aviation), End-User, Application & Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global aircraft electrical systems market is estimated to be USD 19,344 million in 2020 and is projected to grow at a CAGR of 6.8% from 2020 to 2030.

Technological advancements in aircraft electrical systems are expected to drive the aircraft electrical systems market growth

The latest advances in electric and electronics aircraft technologies offer significant opportunities to component manufacturers. Aircraft manufacturers are examining novel ways of power generation and distribution at various levels of the value chain. Complex embedded digital systems, distributed architectures, and increasing use of power electronics in the starter/generation system of the main engines are some of the technologies vying for space on forthcoming aircraft.

COVID-19 pandemic has led to major economic problems and challenges that the aviation industry has to face. Since the beginning of the outbreak, the civil aviation industry has been among the most severely hit sectors globally. Also, legal and trade restrictions, such as sealed borders, increase the shortage of required parts. Such disruption in the supply chain is expected to affect the assembly of OEMs across the world.

Power generation management segment is projected to grow at the highest CAGR during the forecast period

The power generation management segment is expected to be the fastest-growing application segment during the forecast period. The aircraft electrical system is one of the major driving forces in electric generation in aircraft. With the growing aircraft electrical system power levels, the diversity of the power generation types is increasing as well. Aircraft electrical systems set some challenges on the aircraft electrical system, both in terms of the amount of power required and the processing and management of this power.

Commercial aviation segment is expected to account for the largest market share in 2020

By platform, the commercial aviation segment is estimated to account for the largest market share in 2020. Strong growth in this sector has resulted in an increased number of aircraft orders to address the increasing air passenger traffic. An increase in the application scope of electric due to the aforementioned factors is expected to propel the aircraft's electrical systems market growth during the forecast period.

The Asia Pacific aircraft electrical systems market is projected to grow at the highest rate during the forecast period

By region, the aircraft electrical systems market in Asia Pacific is projected to grow at the highest CAGR during the forecast period, due to an increase in the number of military aircraft deliveries in the region. The rise in demand for low-cost carriers (LCCs) is one of the factors driving the growth of the aircraft electrical systems market in the Asia Pacific region. With increasing affordability of air travel and relaxation in some government regulations, this region is procuring more LCCs. In addition, an increase in the expenditure of the aerospace & defense sector and expansion in airline networks in emerging nations like India and China have accelerated the demand for aircraft electrical systems.

Market Dynamics

Drivers

  • Advancements in High-Density Battery Solutions for Electric Aircraft
  • Optimized Aircraft Performance Through the Use of More Electric Technology

Opportunities

  • Lightweight Wiring in Aircraft Electrical Systems
  • Technological Advancements in Aircraft Electrical Systems

Challenges

  • Stringent Regulatory Norms
  • Power Density and Efficiency
  • Economic Challenges Faced by Aviation Industry Due to COVID-19

Company Profiles

  • 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
  • Airspacex (Detroit Aircraft Corporation)

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