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Attractive Opportunities in the Aircraft Electrical System Market, 2019-2025

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Attractive Opportunities in the Aircraft Electrical System Market, 2019-2025

March 06
18:54 2020
Aircraft Electrical Systems Market by System (Power Generation, Conversion, Distribution, Energy Storage), Component, Platform (Commercial Aviation, Military Aviation, Business & General Aviation), End-User, Application & Region – Global Forecast to 2025

The aircraft electrical systems market size is projected to grow from USD 29.9 billion in 2017 to USD 41.7 billion by 2025, at a CAGR of 5.67% during the forecast period from 2017 to 2025.  This report covers the forecast of the aircraft electrical systems market and its dynamics over the next five years, while also recognizing the application gaps and recent developments in the aircraft electrical systems market, along with the identification of high potential countries. Advancement in high density battery solutions for electric aircraft and optimized aircraft performance  through the use of  more electric technology are the major factor that is expected to drive the aircraft electrical systems market in the coming years.

Increasing aircraft fleet size is one of the most significant fueling the growth of aftermarket

Based on end user, the aircraft electrical systems market has been segmented into OEM and aftermarket. Aftermarket companies primarily perform the function of service, maintenance, and upgrade of aircraft electrical systems, such as generators, conversion devices, distribution devices, battery management systems, ram air turbine units, which are being replaced during maintenance procedures. Increasing aircraft fleet size is one of the most significant factors contributing to the demand for aircraft retrofit parts, thereby driving the growth of the aftermarket segment.

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The power generation segment is projected to grow at the highest CAGR during the forecast period.

By system, the aircraft electrical systems market has been segmented into power generation, power distribution, power conversion, and energy storage. Among these, the power generation segment is projected to be the fastest-growing during the forecast period. With the growing aircraft electrical system power levels, the diversity of the power generation types is increasing as well. The main aim of power generation management is to manage the generator as well as the engine and to ensure minimum fuel supply.

The distribution devices segment is projected to grow at the highest CAGR during the forecast period.

By component, the aircraft electrical systems market has been segmented into generators, conversion devices, distribution devices, battery management systems, and others. Among these, the distribution devices segment is projected to witness the highest growth rate during the forecast period. Distribution devices consist of centralized distribution panels, thermal circuit breakers & electro-mechanical relays, and contactors with built-in current sensing & control electronics. Distribution devices found on modern multi-engine aircraft contain several distribution points and a variety of control and protection components to ensure the reliability of electrical power.

North America is expected to lead the market for aircraft electrical systems during the forecast period.

North America is estimated to account for the largest share of the aircraft electrical systems market in 2019. Huge investments in research and development of more electric aircraft and increasing demand for fuel-efficient and low-maintenance aircraft are factors driving the growth of the market in this region. Recent advances in technology have allowed Boeing to incorporate a new no-bleed systems architecture in the 787 Dreamliner that eliminates the traditional pneumatic system and bleed manifold, converting the power source of most functions formerly powered by bleed air to electric power, which includes air-conditioning packs and wing anti-ice systems.

Some of the major vendors in the aircraft electrical systems market include Amphenol Corporation (US), Esterline Technologies (US), AMETEK (US), Honeywell (US), and Astronics Corporation (US).

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