Aircraft Electrical Solid State Power Controller SSPC Market Report
Aircraft Electrical Solid-State Power Controller (SSPC) Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027 See less
Aircraft Electrical Solid-State Power Controller (SSPC) Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2022-2027
Aircraft Electrical Solid-State Power Controller (SSPC) Market is Segmented as by Phase Type (Single Phase and Three Phase), 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 Solid-State Power Controller (SSPC) Market is Segmented as by Phase Type (Single Phase and Three Phase), by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), by Fit Type...
Solid-state power controllers (SSPCs) are semiconductor devices that primarily control power (voltage and current) supplied to a load. They are an important constituent of the aircraft's electrical power distribution systems, which are largely responsible for controlling, switching, protecting, and isolating the aircraft's electrical circuits. They perform supervisory and diagnostic functions in order to identify the overload conditions and prevent short circuits. In recent years, SSPCs have been replacing contactors and circuit breakers for circuit protection, due to their faster operation and high service life expectancy.
With the emergence of the COVID-19 pandemic, the aviation industry has been witnessing significant losses. Due to the lockdown measures implemented by several countries around the world, there was a large decline in the total passenger count opting for air transport along with a significant drop in aircraft production. The impact of it was felt across the supply chain of the aviation industry including electrical components, such as SSPCs and circuit breakers. The market declined over 20% in the year 2020, mainly due to the COVID-19 paired with delays in the approval of the B737Max.
The emergence of COVID variants is affecting the recovery trajectory of the aviation industry including its parts and systems. It is estimated that the air passenger volume will not be at par with the volume level of the pre-COVID period anytime before 2024, leaving a reciprocal impact across the supply chain. The market for aircraft electrical SSPCs is likely to follow a faster recovery trajectory than the entire electrical systems in the wake of a paradigm shift from contractors to SSPCs. Overall, the aircraft electrical SSPC market is likely to grow at a significant CAGR of 9.3% in the long run to reach a value of US$ 783.9 Million in 2027.
Based on the phase-type, the aircraft electrical SSPC market is classified as single-phase and three-phase systems. Between system types, three-phase system is expected to remain the dominant segment of the market during the forecast period as these systems require less assembly time and can transmit more power at a lower cost.
Similarly, based on the 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 dominant as well as the fastest-growing segment of the market during the forecast period. Commercial aircraft has been under immense pressure due to several setbacks including the grounding of B737Max in 2019 followed by the onset of the pandemic
Despite short-term market challenges, it is estimated that the long-term demand remains sustainable. Boeing, in its outlook 2021-2040, estimates that 43,610 commercial and regional aircraft are likely to be delivered in the next 20 years, assuring a healthy demand in the years to come. General Aviation and military aircraft are other market segments that are likely to generate sizeable demand for SSPCs in the years to come.
In terms of regions, North America is expected to remain the largest market for aircraft electrical SSPCs during the forecast period. This is primarily due to the large usage of aircraft for regional, commercial, as well as military applications in the region. Moreover, the regional investments in military aircraft (fighter aircraft and helicopters) are the largest across the globe. Concurrently, Asia-Pacific is also likely to create significant market opportunities in the upcoming years, driven by the expected rebound in air passenger traffic paired with the opening of assembly plants in the region, mainly in China, Japan, and India.
The following are the key players in the aircraft electrical solid-state controller (SSPC) market:
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s aircraft electrical solid-state power controllers (SSPC) market realities and future market possibilities for the forecast period of 2022 to 2027. 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 solid-state power controller (SSPC) market is segmented into the following categories:
Aircraft Electrical SSPC Market, by Phase Type
Aircraft Electrical SSPC Market, by Aircraft Type
Aircraft Electrical SSPC Market, by Fit Type
Aircraft Electrical SSPC Market, by Region
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The aircraft electrical SSPC market is estimated to grow at a CAGR of 9.3%, over the next five years to reach a value of US$ 783.9 Million by 2027.
GE Aviation, Safran Group, Collins Aerospace (Raytheon Technologies Corporation), and TransDigm Group, Inc are some of the key players in the market.
North America is estimated to remain dominant in the aircraft electrical SSPC market in the upcoming years.
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