Aircraft Ignition System Market worth over $350mn by 2026
Published Date: May 17, 2020 Authors: Ankita Bhutani, Preeti Wadhwani
Aircraft Ignition System Market size is set to surpass USD 350 million by 2026, according to a new research report by Global Market Insights, Inc.
The aircraft ignition system market growth is due to increasing adoption of these systems to improve fuel efficiency and maintain engine health during its lifespan. Introduction of Unmanned Aerial Vehicles (UAV) and new aircraft models posing requirement of aircraft ignition system will further drive the market demand.
Stringent regulations on operational safety airworthiness of the components pertaining to aviation industry will define the market trend. European Aviation Safety Agency (EASA), Federal Aviation Administration (FAA), and International Civil Aviation Organization (ICAO) are some of the major global regulatory bodies defining airworthiness of aircraft and their components.
The sudden outbreak of COVID-19 pandemic will provide a moderate dip in the aircraft ignition system market in 2020. The sudden slowdown in the market 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 will experience an accelerated growth.
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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, supporting the market expansion.
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 segment will capture more than 95% of the total market share by 2026. High market penetration of the segment can be witnessed 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 impact.
Increasing indigenous manufacturing capabilities by Asia Pacific
The Asia Pacific aircraft ignition system market size is set to experience a growth rate of more than 7% from 2020 to 2026. Increasing efforts by various governments to establish aircraft and OEM manufacturing capabilities are supporting the market growth. For instance, China is supporting various startups and inhouse manufacturing plants to improve their market penetration as regional players.
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.
For instance, Automotive Resources Inc., in assistance with Small Business Innovation Research (SBIR) and funded by NASA introduced smartplugs, an upgraded version of spark plugs with self-contained ignition system. The self-contained ignition system will improve efficiency and minimize room for error during operations.
Increasing product offerings through design modification
Major strategies practiced by companies operating in the aircraft ignition system market include improving their product offerings to serve the broader market. 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 market are Woodward, Meggitt, Transdigm, Unison, Electroair, G3I, Surefly, Air Power, and Sky Dynamics.