Aircraft Electrical Conversion Systems Market Analysis (2021-2026)

Market Insights

"The global aircraft electrical conversion systems market is projected to grow from USD 0.7 billion in 2020 to USD 1.1 billion by 2026 at a CAGR of 7.7% during the forecast period."

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Conversion systems form an important element in an aircraft's overall electrical systems. They are responsible for the conversion of the electrical power produced by generators from one voltage to another and from AC to DC (and vice-versa). Conversion systems are comprised of transformers, AC-DC converters (including transformer rectifier units and autotransformer rectifier units), and DC-to-AC converters (or inverters).

Over the years, there has been a greater reliance on electrical conversion systems in aircraft, as they not only control the voltage but they also keep a check on the flow/direction of the current. While the rectifiers enable the converted DC to flow in only one direction, the inverters enable the converted AC to change its direction periodically. Power converters convert electrical energy into suitable forms as needed by the aircraft loads and their demand is expected to grow at a healthy pace in the foreseen future

Market Dynamics

Market Drivers

The aircraft electrical conversion systems market is a dynamic and growing sector within the aviation industry. The market is primarily driven by:

• The increasing demand for more efficient and reliable electrical systems in aircraft.
• The increasing need for more fuel-efficient and eco-friendly aircraft, and electric aircraft thus.
• Advancements in high-density battery solutions for electric aircraft.
• Optimized aircraft performance through increased use of electric technology.

COVID-19 Impact

The aviation industry proved to be one of the biggest victims of the pandemic. However, the impact of the pandemic varied from aircraft to aircraft. For instance; commercial aircraft recorded an irreparable loss in the year 2020, whereas, military aircraft registered a relatively less decline. The tremor of this had been felt across the industry verticals, including electrical conversion systems, and declined over 20% in the year 2020.

Segment Analysis

Component Trends 

"The transformer segment accounted for the largest market share."

The market is classified as transformers, AC-DC converters (TRU & ATRU), and DC-AC converters (inverters). Among these components, the transformer is expected to remain the largest segment of the market, and it will hold a revenue share of more than 50% during the forecast period. AC/DC power converters are a type of electrical conversion device that converts the AC to DC. On the other hand, as a result of their usage, AC-DC converters are likely to witness the highest growth in the market during the forecast period.

Aircraft Trends

"The commercial aircraft segment accounted for the largest market share."

The market is segmented into commercial aircraft, regional aircraft, general aviation, helicopters, military aircraft, and UAVs. Among these aircraft types, commercial aircraft is expected to remain the most dominant and fastest-growing aircraft type in the market, and it will hold a revenue share of more than 50% during the forecast period. Commercial aircraft alone generate the demand for more than half of the electrical conversion systems used in the aircraft industry. The aircraft type is currently going through one of its hardest times with multiple setbacks. However, the industry stakeholders are accustomed to such breathtaking market conditions and have learned the art of sailing through the crisis.

Regional Insights

"North America accounted for the largest market share."

North America is likely to remain the largest market, and it will hold a revenue share of more than 45% during the forecast period, due to the increasing demand for commercial as well as military aircraft in the region. The region is the biggest demand generator for general aviation, UAVs, military aircraft, and helicopters and one of the largest generators for commercial aircraft. This makes the region the most preferred manufacturing/assembly destination for aircraft. Asia-Pacific is currently a small market but is likely to exhibit the highest growth in the coming years, driven by China, Japan, and India. 

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Key Players

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

• Astronics Corporation
• Collins Aerospace (Raytheon Technologies Corporation)
• Crane Aerospace & Electronics
• Honeywell International Inc.
• GE Aviation
• Safran Group
• AMETEK.Inc.
• Thales Group

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?

The aircraft electrical conversion systems market is segmented into the following categories: 

By Component Type

• AC-DC Converters
• Transformers
• DC-AC Converters

By Aircraft Type

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

By Region

• North America (Country Analysis: USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

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

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