Aircraft Electrical Systems Market Size & Insights
The Global Aircraft Electrical Systems Market size was valued at around USD 17.5 billion in 2023 and is projected to reach USD 28.5 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7.9% during the forecast period, i.e., 2024-30. The focus on reliability and security, rising spending by many nations to bolster their aerial defense, a shift toward More Electric Aircraft (MEA), rising air travel demand, growing use of unmanned aerial vehicles (UAVs), strict environmental regulations, etc. are some of the major factors driving the growth of the Aircraft Electrical Systems Market.
What are the Key DROs in the Aircraft Electrical Systems Market?
Inclination Toward More Electric Technology to Optimize Overall Aircraft Performance – The shift toward more electric technology is, in fact, one of the main forces behind the aircraft electrical systems market. In many aircraft tasks, this trend is typified by a move away from conventional pneumatic and hydraulic systems and toward electrical alternatives. The rising use of electric technology in aircraft is a result of several variables, all of which have a major impact on the growth and development of aircraft electrical systems.
What are the Key Segments in the Aircraft Electrical Systems Market?
The Aircraft Electrical Systems is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Components
- Generators
- Starter Generators
- Auxiliary Power Unit (APU)
- Integrated Device Generators (IDG)
- Variable Speed Constant Frequency (VSCF) Generator
- Generator Control Unit (GCU)
- Conversion Devices
- Inverter
- Converter
- Transformer Rectifier Unit (TRU)
- Distribution Devices
- Wires and Cables
- Connectors and Connector Accessories
- Busbars
- Battery Management Systems
By Systems
- Power Generation
- Power Distribution
- Power Conversion
- Energy Storage
By Platform
- Commercial Aviation
- Military Aviation
- Business & General Aviation
After a prolonged pandemic, the commercial aviation sector is steadily recovering, and by 2024, passenger volume is predicted to return to pre-pandemic levels.
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By End User
- OEM
- Aftermarket
By Application
- Power Generation Management
- Flight Control & Operation
- Cabin Systems
- Configuration Management
- Air Pressurization & Conditioning
How does geographical analysis highlight in the Aircraft Electrical Systems market?
By Region
- North America
- South America
- Middle East & Africa
- Europe
- Asia-Pacific
North America region is anticipated to lead the market with the largest share in the forecast period.
Who are the Key Players in Aircraft Electrical Systems Market?
- Ametek, Inc.
- Safran
- Astronics Corporation
- Amphenol Corporation
- PBS Aerospace
- Honeywell International Inc.
- Meggitt Plc
- Thales Group
- United Technologies Corporation
- General Electric
- RTX Corporation
- Acme Aerospace Inc. & Avionic Instruments LLC
- Crane Aerospace & Electronics
- Hartzell Engine Technologies LLC
- Nabtesco Corporation and others.
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Aircraft Electrical Systems Market News
- July 2023: Crane Aerospace and Electronics has announced a partnership with Swedish electric aircraft manufacturer Heart Aerospace to define the power distribution system for Heart’s ES-30 regional electric aircraft.
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