Aircraft Electrical Conversion Systems Market Report
Aircraft Electrical Conversion Systems Market is Segmented by Component Type (Transformers, AC-DC Converters, and DC-AC Converters), by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Aircraft Electrical Conversion Systems Market is Segmented by Component Type (Transformers, AC-DC Converters, and DC-AC Converters), by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), and by Region...
Impact of COVID-19 on Aircraft Electrical Conversion 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.
Conversion systems form an important element in the 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 the electrical conversion systems in an 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 the electrical energy into suitable forms as needed by the aircraft loads, their demand is expected to grow at a healthy pace in the foreseen future.
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. Overall, in the long run, the aircraft electrical conversion systems market is likely to rebound at a significant CAGR of 7.7 % to reach a value of US$ 1.1 Billion by 2026.
Based on the component type, the aircraft electrical conversion systems market is classified as transformers, AC-DC converters (TRU & ATRU), and DC-AC Converters (inverters). Among these components, transformer is expected to remain the largest segment of the market 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.
Similarly, on the basis 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 remain the most dominant as well as the fastest-growing aircraft type in the market during the forecast period. Commercial aircraft alone generates 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 breath-taking market conditions and have learned the art to sail through from the crisis.
In terms of regions, North America is likely to remain the largest market for aircraft electrical conversion systems 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.
The following are the key players in the aircraft electrical conversion systems market:
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.
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The aircraft electrical conversion systems market is segmented into the following categories:
Aircraft Electrical Conversion Systems Market, by Component Type
Aircraft Electrical Conversion Systems Market, by Aircraft Type
Aircraft Electrical Conversion Systems Market, by Region
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The aircraft electrical conversion systems market is estimated to grow at a CAGR of 7.7% in the coming years.
Collins Aerospace (Raytheon Technologies Corporation), Crane Aerospace & Electronics, Honeywell International Inc., GE Aviation, Safran Group, AMETEK.Inc., Astronics Corporation, and Thales Group are some of the key players in the market.
North America is estimated to remain dominant in the aircraft electrical conversion systems market in the coming years.
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