Aircraft Electrical Generation Systems Market Report

Market Highlights

"The global aircraft electrical generation systems market was valued at US$ 0.5 billion in 2020 and is projected to reach US$ 0.9 billion by 2026, registering a CAGR of 8.0% during the forecast period."

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What is an electrical generation system?

The electrical generation system is used to generate electrical power for various equipment and devices used on an aircraft by converting mechanical energy into electrical energy by a process of electromagnetic induction. Generators are crucial components used in aircraft electrical systems, as they are the primary source of electrical power in them. Overall, there are three types of generators: main generators, auxiliary power unit (APU) generators, and emergency power unit (EPU) generators, with the main generators accounting for the largest market share in 2020, followed by the other two generators.

Market Dynamics

The growth of the aircraft electrical generation systems market is primarily driven by:

• Growth in the narrow-body aircraft segment.
• Developments of electric power generation systems such as advanced battery systems.

The Aircraft Electrical Generation System Market which is powered by the demand for more electric aircraft components along with the advancement of electronics & increased power consumption of aircraft. This shifting from 120 VAC systems to higher voltage systems such as 270 VDC and 540 VDC, which is associated with complex electrical systems, is vitally important. The carbon emission reductions and fuel economy improvements made by deploying more electronics to aircraft are also facilitating to market growth. Widespread application for high-thrust propellants along with an improved demand for high efficiency and stability of fuel management fuels the market. All of the above-mentioned factors, in parallel with the escalating demand for air travel and new aircraft program developments, are thought to be the primary causes of the growing Aircraft Electrical Generation Systems Market.

COVID-19 Impact

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

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 generation 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

System Trends

The aircraft electrical generation systems market is segmented into main generators, auxiliary power unit generators, and emergency power unit generators. The main power generator is the principal electrical power source in an aircraft during normal flight conditions and is expected to remain the dominant segment of the market, and it held a revenue share of more than 60% in 2021. The main power generator can be based on either AC or DC, among which AC is likely to remain dominant throughout the forecast period, as it is easier to maintain for power distribution and transmission purposes. In addition, AC power transmission is quite economical as compared to DC transmission.

Fit Trends

The market is segmented as original equipment and aftermarket. Original equipment occupied a major market share of more than 70% in 2021 and is expected to maintain its leading position during the forecast period as well.

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Aircraft Trends

The market is segmented as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Among these aircraft types, commercial aircraft is expected to be the fastest-growing segment of the market, and it held a revenue share of more than 50% in 2021. Commercial aircraft registered an enormous decline in the year 2020 factored by the 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 generation systems in the coming years.

Regional Insights

North America is expected to remain the largest market for aircraft electrical generation 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 generation systems in the coming years.

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Key Players

The following are the key players in the aircraft electrical generation systems market:

• Collins Aerospace (Raytheon Technologies Corporation)
• Safran Group
• Honeywell International Inc.
• GE Aviation
• Thales Group
• Skurka Aerospace, Inc
• AMETEK.Inc.
• Meggitt PLC
• Astronics Corporation

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 in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories:

By System Type

• Main Generators
• Auxiliary Power Generators
• Emergency Power Unit Generators

By Fit Type

• Original Equipment
• Aftermarket

By Aircraft Type

• Commercial Aircraft
• Regional Aircraft
• General Aviation
• Helicopter
• Military Aircraft
• UAV

By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft electrical generation 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

With this detailed report, 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 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.