Aircraft Electrical Generation Systems Market Report
Aircraft Electrical Generation Systems Market is Segmented by System Type (Main Generators, Auxiliary Power Generators, and Emergency Power Unit Generators), by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), by Fit Type (Original Equipment and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Aircraft Electrical Generation Systems Market is Segmented by System Type (Main Generators, Auxiliary Power Generators, and Emergency Power Unit Generators), by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), by Fit Type...
Impact of COVID-19 on Aircraft Electrical Generation Systems Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
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.
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 the 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 an aircraft. The market has already started showing some signs of recovery from 2021 onwards with the recovery, particularly in the narrow-body aircraft segment. In the long run, it is anticipated that the aircraft electrical generation systems market is likely to rebound at a promising CAGR of 8.0% during 2021-2026 to reach a value of US$ 0.9 Billion by 2026.
Based on the system type, the aircraft electrical generation systems market is segmented as main generators, auxiliary power unit generators, and emergency power unit generators. 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 during the forecast period. 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.
Likewise, in terms of aircraft type, 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 during the forecast period. 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 an additional impetus to the demand for electrical generation systems in the coming years.
In terms of regions, North America is expected to remain the largest market for aircraft electrical generation systems during the forecast period. 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.
The following are the key players in the aircraft electrical generation systems market:
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.
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 the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The aircraft electrical generation systems market is segmented into the following categories:
Aircraft Electrical Generation Systems Market, by System Type
Aircraft Electrical Generation Systems Market, by Aircraft Type
Aircraft Electrical Generation Systems Market, by Fit Type
Aircraft Electrical Generation Systems Market, by Region
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The aircraft electrical generation systems market is estimated to grow at a healthy CAGR of 8%, in the upcoming five years.
Collins Aerospace (Raytheon Technologies Corporation), Safran Group, Honeywell International Inc., GE Aviation, Thales Group, Skurka Aerospace, Inc, AMETEK.Inc., Meggitt PLC, and Astronics Corporation are some of the key players in the market.
North America is estimated to remain dominant in the aircraft electrical generation systems market in the coming years.
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