The global aircraft electrical system market is estimated to grow during the forecast period owing to an increase in a number of aircraft coupled with increasing preference for more electric components in aircraft. The use of more electric components in the aircraft facilitates overall maintenance cost-reduction and calculated decisive decisions at the time of emergency. Modern aircraft need to be more fuel-efficient at the same time can withstand long haul with reduced fuselage fatigue, to compensate all these yesteryears analog systems have been replaced by modern aircraft electrical systems. Commercial aviation is projected to witness significant growth in the market. Growing air travel, the growth in disposable income of the middle-class population, and increased international trade and tourism across the globe is the major factor attributing to the market growth.
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The high-power consumption and high heat generation are the major restraints of the aircraft electrical system market. Therefore, to address these problems key market players are continuously making significant investments in the R&D to develop more improved, efficient, and reliable aircraft electrical systems. New product developments and launches are the major strength of market players. For instance, in 2019, Safran has introduced new power electronics for aircraft, such as an electrical thrust reverser actuation system and an electrical braking actuation controller. Additionally, potential growth in this segment has resulted in an increased number of orders for aircraft to address the rising air passenger traffic. This provides aircraft electrical suppliers ample growth opportunities.
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Moreover, increasing adoption of electrical aircraft system instead of using hydraulics in aircraft, advancements in high-density electric aircraft battery solutions are some of the major factors which are driving the aircraft electrical system market growth. Honeywell International, Inc., Safran, Thales Group, UTC Aerospace System, Astronics Corp. and Crane Aerospace and electronics are the major player in the aircraft electrical system market. These players are continuously investing in R&D to develop aircraft electrical system with improving reliability and efficiency.
Global Aircraft Electrical System Market- Segmentation
By Technology Type
- Power Distribution
- Power generation
- Energy Storage Device
- Power conversion
By End-User
- Commercial Aviation
- Military aviation
- Business & General Aviation
Global Aircraft Electrical System Market- Regions
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
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