Report code - SR1490Published On : Dec,2021No. of Pages: 150
Aircraft Electrical Conversion Systems Market Size, Share, Growth, Trends, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
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Aircraft Electrical Conversion Systems Market Size, Share, Growth, Trends, Forecast, Competitive Analysis, and Growth Opportunity: 2021-2026
The Aircraft Electrical Conversion Systems Market is segmented by Component Type (Transformers, AC-DC Converters, and DC-AC Converters), Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and Region (North America, Europe, Asia-Pacific, and the Rest of the World).
The Aircraft Electrical Conversion Systems Market is segmented by Component Type (Transformers, AC-DC Converters, and DC-AC Converters), Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and Region...
The Aircraft Electrical Conversion Systems Marketis 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.
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.
Aircraft Electrical Conversion Systems Market Report Overview
Market Size in 2026
USD 1.1 Billion
Market Size in 2020
USD 0.7 Billion
Market Growth (2021-2026)
CAGR of 7.7%
Base Year of Study
2020
Trend Period
2016-2019
Forecast Period
2021-2026
Market Dynamics
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.
One of the key drivers of the market is the increasing demand for electric aircraft. As the aviation industry seeks to reduce its carbon footprint, electric aircraft have emerged as a viable alternative to traditional fossil fuel-powered aircraft. This has led to an increase in demand for electrical systems that can handle the high voltage and power requirements of electric aircraft.
Another driver of the market is the need for more efficient and reliable electrical systems in traditional aircraft. With the increasing use of advanced electronics in aircraft, the demand for more sophisticated electrical systems has grown significantly. This has led to a need for aircraft electrical conversion systems that can convert power from various sources and distribute it efficiently throughout the aircraft.
The market is also influenced by various government regulations and policies. Governments around the world are implementing stricter emission regulations, which are driving the demand for more fuel-efficient and eco-friendly aircraft. This has created opportunities for companies that specialize in developing advanced electrical systems for aircraft.
Segment Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Component-Type
Transformers, AC-DC Converters, and DC-AC Converters
Transformer is expected to remain the largest segment of the market 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.
Component Trends
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 marketand it will hold a revenue share of more than 50% during the forecast period.
AC to DC converters is commonly used in aircraft systems to convert the alternating current (AC) power generated by the aircraft's engines or auxiliary power unit (APU) into direct current (DC) power, which is used to power the various electronic and electrical systems on board.
Some examples of aircraft systems that rely on DC power include:
Avionics: The avionics suite on modern aircraft includes a wide range of electronic systems such as flight management systems, navigation systems, communication systems, and entertainment systems. These systems require a stable source of DC power to function properly.
Lighting: The lighting systems on an aircraft, including the cockpit lighting, cabin lighting, and exterior lighting, also require DC power to function.
Control systems: The aircraft's control systems, including the flight control system, require DC power to operate.
Aircraft Trends
The market is segmented into commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAVs. Among these aircraft types, commercial aircraft is expected to remain the most dominant as well as the 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 to sail through the crisis.
Regional Analysis
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:
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, declined over 20% in the year 2020.
Critical Questions Answered in the Report
What are the key trends in the market?
How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
What is the impact of COVID-19 on the market?
What are the key strategies adopted by the major vendors to lead in the market?
What is the market share of the top vendors?
Target Audience
Here is the list of the group of customers that the aircraft electrical conversion systems market hopes to have the greatest opportunity to convert-
Distributors
Suppliers
Manufacturers
Logistics organizations
Government bodies
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 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 Conversion 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 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
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.
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Conversion systems form an important element in an aircraft 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).
Commercial aircraft is expected to remain the most dominant as well as the fastest-growing aircraft type in the market and it holds a revenue share of more than 52% during the forecast period.
The increasing demand for more efficient and reliable electrical systems in aircraft,
The market is expected to experience significant growth in the coming years due to the increasing need for more fuel-efficient and eco-friendly aircraft,
Advancements in high-density battery solutions for electric aircraft, Optimized aircraft performance through the use of more electric technology.