Report code - SR1487Published On : Dec,2021No. of Pages: 150
Aircraft Electrical Systems Market Size, Share, Trend, Forecast and Growth Opportunity: 2021-2026
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Aircraft Electrical Systems Market Size, Share, Trend, Forecast and Growth Opportunity: 2021-2026
AircraftElectrical Systems Market by System Type (Electrical Generation Systems, Electrical Distribution Systems, Electrical Conversion Systems, and Electrical Storage Systems), Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Aircraft Electrical Systems Market by System Type (Electrical Generation Systems, Electrical Distribution Systems, Electrical Conversion Systems, and Electrical Storage Systems), Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and Region...
"The global aircraft electrical systems market was valued at US$ 2.5 billion in 2020 and is projected to reach US$ 3.9 billion by 2026, registering a CAGR of 8.1% during the forecast period."
An aircraft electrical system is a crucial component of an aircraft that provides electrical power to various electrical systems and equipment onboard. The system includes generators or alternators, batteries, wiring, switches, and other electrical components that work together to supply electrical power to the aircraft's essential systems and equipment.
The electrical system is responsible for powering critical systems such as communication, navigation, lighting, and instrument panels. It also provides power for the aircraft's avionics, which includes computers, sensors, and other electronic equipment used for monitoring the aircraft's performance.
Market Trends
Shift towards More Electric Aircraft (MEA): Increasing the adoption of electrical systems in place of pneumatic and hydraulic systems in order to reduce weight and increase efficiency.
Advanced Power Distribution Systems: Development of advanced power distribution and management systems to maximize energy efficiency and improve reliability.
High-Voltage Systems: There is a growing trend to use higher voltage systems (270V DC, 540V DC, etc.) in order to accommodate the rising demand for power and reduce wiring weight.
Integration of Sustainable Power Sources: The growing popularity of alternative energy sources for disaster mitigation and auxiliary power units, such as solar power and fuel cells.
Enhanced Battery Technologies: Advancements in energy storage and electric propulsion systems with developments in lithium-ion and emerging battery technologies.
Predictive Maintenance and Health Monitoring: AI and IoT integration for electrical system predictive maintenance and real-time monitoring, improving reliability and reducing downtime.
The industry's focus on sustainability, efficiency, and cutting-edge technologies in aircraft electrical systems is reflected in these general trends.
Aircraft Electrical Generation Systems Market Report Overview
Market Size in 2026
USD 3.9 billion
Market Size in 2020
USD 2.5 billion
CAGR (2021-2026)
8.1%
Base Year of Study
2020
Trend Period
2016-2019
Forecast Period
2021-2026
Market Dynamics
The aircraft electrical systems market is driven by factors such as the need for efficient new-generation aircraft and innovations in electric power plants. Expansion in the commercial aviation industry increases its market, due to increasing air travel and growth in the defense industry and expenditures. Advances in lightweight electrical vehicles’ automotive electronics that lead to high-performance efficiency, cut emissions. However, there are some drawbacks such as increased regulation standards and high costs of development. The market driver relating to aircraft efficiency is the quest to have more electric aircraft to enhance fuel efficiency thus reducing the effects on the environment.
The grounding of the B737Max ended the 16-year growth cycle of the commercial aerospace industry. The industry was on the verge of recovery from the grounding of B737Max, the sudden burst of the pandemic exacerbated the industry challenges and sent to a decade back. As a result of that, the aircraft electrical systems market witnessed a colossal decline of over 20%+ in 2020, quite aligned with the decline in other crucial systems used in aircraft. The market has already started showing some signs of recovery from 2021 onwards with the recovery, particularly in the narrow-body aircraft segment.
Segment Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
System-Type
Electrical Generation Systems, Electrical Distribution Systems, Electrical Conversion Systems, and Electrical Storage Systems
ElectricalDistribution System is expected to remain the largest segment of the during the forecast period.
Aircraft-Type
Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV
Commercial aircraft is expected to remain the most dominant as well as the fastest-growing aircraft type in the market during the forecast period.
Regional Analysis
North America, Europe, Asia-Pacific, and the Rest of the World)
North America is likely to remain the largest market during the forecast period.
System Trends
"The electrical distribution systemaccounted for the largest market share."
The aircraft electrical systems market is classified as electrical generation systems, electrical distribution systems, electrical conversion systems, and electrical storage systems. Among different electrical systems, the electrical distribution system accounted for a revenue share of more than 40% in 2021, owing to the reason that they are the primary source of electrical power in an aircraft.
In addition to that, the development of high-thrust aircraft engines, an increase in the demand for greater efficiency, and the development of highly integrated electrical power generation systems are expected to drive growth during the forecast period.
Aircraft Trends
"The commercial aircraftsegment accounted for the largest market share."
The market is segmented into commercial aircraft, regional aircraft, general aviation, helicopters, military aircraft, and UAVs. Commercial aircraftis expected to remain the dominant as well as the fastest-growing segment of the market and it held a revenue share of more than 55% in 2021. Commercial aircraft registered an enormous decline in the year 2020 factored by struggling industry paired with the pandemic’s impact. Now, it is anticipated that the aircraft type will mark excellent growth in order to heal up the losses endured during 2020, leading to extraordinary growth in the near future. Upcoming aircraft programs, such as C919 and MC-21, are likely to give additional impetus to the demand for electrical systems in the coming years.
Regional Insights
"North Americaaccounted for the largest market share."
North America is expected to remain the largest market for aircraft electrical systems and it held a revenue share of more than 45% in 2021. This region is home to a large number of aircraft industry stakeholders. Most of the major players are either headquartered in the region or have a manufacturing base in the region to serve the huge demand.
Europe, on the other hand, is the second-largest market after North America. The region is the home of Airbus stakeholders. Airbus has already revealed their plans for rapidly increasing the production rates of their key aircraft programs in the near future, asserting the entire’s region recovery trajectory in the near future.
Asia-Pacific remains the hotspot of the aerospace industry about all the systems/components. All the leading OEMs and tier players have already moved into some of the preferred locations, especially in China, India, and Japan, for manufacturing/assembly of parts/systems/aircraft. Furthermore, huge efforts exerted by Chinese, Indian, and Japanese conglomerates about the development of aircraft indigenously further blossom the demand for electrical systems in the coming years.
The competitive landscape of electrical systems varies from system to system. Also, it is being noticed that all the major players are not into all types of electrical systems, changing the competitive landscape from system to system. Overall, it is a convoluted process to manufacture electrical systems and requires huge expertise to supply systems for the aerospace industry.
The following are the key players in the aircraft electrical systems market:
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What deliverables will you get in this report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Aircraft Electrical Systems Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft electrical systems market realities and future market possibilities for the forecast period of 2021 to 2026. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.
Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.
Recent Developments
March 2023: BAE Systems and Heart Aerospace to collaborate on battery for the electric airplane. The program will leverage more than 25 years of BAE Systems' expertise in electrifying large, heavy-duty industrial vehicles. Today, the company has over 15,000 power and propulsion systems operating in service across the globe.
March 2023: Collins Aerospace has made some huge investments into the main facility in Jamestown which shows the company is growing, according to Bill Seekins, facilities and operations excellence manager.
May 2022: Astronics Corporation, a leading provider of advanced technologies for global aerospace, defense, and other mission critical industries, announced today that it has expanded its CorePower product portfolio and capabilities to address the needs of the emerging electric aircraft industry. The aerospace industry today is making significant investments in More Electric Aircraft (MEA) architectures, including specifically electric propulsion and electric vertical take-off and landing (eVTOL) aircraft.
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The increasing need for electric aircraft with the growing usage of power electronics is one of the major drivers for electrical systems in the aircraft industry.
The aviation industry has rapidly been adopting advanced technologies to meet the power demands with increased electrical loads.
In addition, there is also a need for reducing carbon emissions and improving fuel economy, which can be achieved to a great extent by developing electrical aircraft.