Aircraft Electrical Systems Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025
Report ID: GMI3296
Aircraft Electrical Systems Market size is anticipated to achieve lucrative growth in the coming years led by Increasing aircraft production across the globe owing to proliferation of low-cost carriers and improved airline networks. Supporting government initiatives along with rising adoption of open skies agreements are further boosting the industry share. Expanding tourism sector along with rising disposable income are providing a positive outlook for the industry expansion.
Aircraft manufactures are continuously focusing on manufacturing light weight aircrafts to improve operational efficiency along with complying to the stringent regulatory norms. Moreover, the proliferation of lower weight wiring along with rising preference for high density batteries are positively influencing the aircraft electrical systems market share. Additionally, increasing electrical components in aircrafts along with increasing adoption of more electric aircrafts are felicitating the requirement for suitable power management systems, thereby expanding the industry size.
Aircraft electrical systems market players are continuously investing in R&D for developing advanced aircraft electrical systems for improving efficiency and reduce loads in the batteries. Manufacturers are continuously developing the Transformer Rectifier Unit (TRU) technology, that enables for multiple voltage systems using a combination of DC & AC buses, thereby supporting in overall electrical systems efficiency.
The proliferation of fiber optic cable technology enables for efficient transfer of data and improves bandwidth significantly, thereby making them ideal for usage in aircraft electrical system operations. Additionally, industry participants are engaged in forming joint ventures and partnerships for collaboratively developing electrical wire technologies to expand their market share. For instance, MATIS, a joint venture between Boeing and Safran majorly focuses on producing aircraft electrical wiring, thereby boosting the business share.
Industry players along with researchers are continuously investing in smart materials and technologies for developing aircraft electrical wiring systems with significantly lower weight. For instance, in 2017, researchers at RIT conducted feasibility studies for carbon nanotubes with significantly lower weight and improved flexibility, that can be a potential replacement for aircraft wiring.
Based on components, the aircraft electrical systems market is classified into generators and auxiliary power unit. Advanced turbo generators combine simple-cycle magnetic bearing cooling turbine technology and electrical power generation. The system can provide liquid cooling and electrical power to implement advanced radar systems in military aircrafts, thereby positively influencing the industry.
Based on system, the market is categorized into power distribution, generation, conversion and energy storage. Power distribution systems provide higher reliability over conventional thermal mechanical breaker systems. Industry players are engaged in the design & development of integrated electrical systems with reduced weight and compact size. For instance, in 2017, Astronics introduced CorePower systems with intelligently controlled solid state switches that can replace big thermal mechanical breaker systems, thereby positively influencing the segment share.
The aircraft electrical systems market size based on aircraft can be classified into commercial aircraft, military, regional jets, and helicopters. The growth in the helicopters can be credited to the capability of performing diversified range of operations including vertical take-off & landing, along with the ability to hover over smaller areas. Moreover, the increasing usage of these aircrafts for tourism, emergency and rescue missions further accelerates the segment share over the study timeframe.
The aircraft electrical systems market size based on distribution channel can be classified as line fit and retrofit. The growth in the retrofit segment can be credited to the stringent regulations and policies mandating the replacement and maintenance of aircraft components after a certain flight cycle to maintain airworthiness. Moreover, the replacements required in cases on wear and tear owing to continuous operations further expands the segment size.
North America aircraft electrical system market is anticipated to grow at a significant rate owing to the presence of major aircraft manufacturers such as Boeing, Lockheed Martin, and Airbus among others. The region also witnesses the presence of multiple airports along with vast air passenger traffic. Additionally, the region also spends significantly on military and defense sectors, thereby positively influencing the industry share over the projected timeframe.
Few players operating in the aircraft electrical systems market share include Honeywell, UTC, Astronics, Fokker technologies, Safran, and Thales. Strategic investments for advanced product development are among the prominent strategies adopted by industry players to expand their market share. For instance, in 2018, UTC Aerospace announced an investment of around USD 3 billion for development of more-electric initiative, that aims to replace hydraulic and pneumatic systems in aircrafts with electrical components, thereby providing a positive outlook for the industry expansion.
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability
Why Global Market Insights, Inc.?
- GMI is unparalleled when to comes to the quality of research and information provided to clients. Our unique methodology is designed to ensure a minimum of 90% accuracy to give our clients excellent value on their investment.
Over 200 experts are available across various time-zones, ready to serve clients for their research needs. Our industry experts help clients to design reports customized to their needs.