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Aircraft Ignition Systems Market size worth $350 Mn by 2026
- Published Date: May 17, 2020
Aircraft Ignition Systems Market size is likely to surpass USD 350 million by 2026; according to a new research report by Global Market Insights Inc.
Increasing adoption of these systems to improve fuel efficiency and maintain engine health during its lifespan is fueling the aircraft ignition system industry demand. Introduction of Unmanned Aerial Vehicles (UAV) and new aircraft models posing requirement of these system.
The rising number of aircraft deliveries and increasing air traffic due to the growth of Low Cost Carriers (LCC) for commercial aviation have increased the demand for aircraft ignition system.
The sudden outbreak of COVID-19 pandemic will provide a moderate dip in the aircraft ignition systems market in 2020. The sudden slowdown can be attributed to travel and trade restrictions across the globe to contain the spread of the pandemic. Meanwhile, general aviation aircraft used for medical and emergency services.
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Increasing YoY aircraft deliveries and backlogs in commercial aviation
Rising inflight passenger is posing a demand for commercial aviation and aging aircraft has forced airline operators to increase their fleet, allowing them to order/lease multiple aircraft. Increasing backlog orders and YoY increase in the intake of new orders are forcing major aircraft manufacturers to increase their production capacity. For instance, in December 2019, the total aircraft backlogs of Airbus were 7,482 and Boeing were 5,625.
Browse key industry insights spread across 200 pages with 222 market data tables & 18 figures & charts from the report, “Aircraft Ignition System Market Size By Component (Igniters, Ignition Leads, Exciters, Spark Plugs), By Engine Type (Turbine Engine, Reciprocating Engine), By End-Use (Fixed Wing, Rotary Wing), By Ignition System (Electro Ignition System, Magneto Ignition System), By Fit (Line Fit, Retro Fit), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026” in detail along with the table of contents:
Rising adoption of electric ignition system
The electronic ignition system market to capture over 95% share in 2026 driven by increasing adaptability of electric systems. The electronics ignition system encompasses various circuit boards and micro controllers, improving the operational accuracy to microseconds. No movable components with same or small size compared to other systems along with improved operational accuracy and elongated lifespan will provide a positive market outlook.
Technological advancement in aircraft ignition system
Increasing investments by major research centers in collaboration with industry participates are accelerating R&D activities, eventually improving market opportunities. Significant focus is given on the components of aircraft ignition systems by these organizations.
Increasing indigenous manufacturing capabilities by Asia Pacific
The Asia Pacific aircraft ignition systems market is estimated to experience more than 7% growth rate during 2020 to 2026. Increasing efforts by various governments to establish aircraft and OEM manufacturing capabilities are boosting the market revenue.
Increasing product offerings through design modification
Major strategies practiced by companies operating in the aircraft ignition systems market include improving their product offerings to serve the broader market demand. Companies are engaged in the design and development of new products to capture future market prospects. For instance, in 2019, Champion Aerospace had more than 300 igniter designs, 150 lead designs, and more than 50 exciter designs.
Long-term collaboration for serving as an OEM supplier is also one of the major initiatives practiced by market players to improve their strategic positioning. For instance, in 2019, the aircraft ignition system manufacturer Champion Aerospace was declared as the original equipment supplier of a range of engines for Rolls Royce, CFM International, Pratt & Whitney, and General Electronics.
Major vendors operating in the aircraft ignition systems market are Woodward, Meggitt, Transdigm, Unison, Electroair, G3I, Surefly, Air Power, and Sky Dynamics.
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