How Big is the Aircraft Electrical Systems Market?
The Global Aircraft Electrical Systems Market size was valued at around USD 17.5 billion in 2023 and is projected to reach USD 28.5 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7.9% during the forecast period, i.e., 2024-30. The focus on reliability and security, rising spending by many nations to bolster their aerial defense, a shift toward More Electric Aircraft (MEA), rising air travel demand, growing use of unmanned aerial vehicles (UAVs), strict environmental regulations, etc. are some of the major factors driving the growth of the Aircraft Electrical Systems Market. Additionally, ongoing developments in power electronics, battery technology, and wiring materials are making it possible to create electrical components for airplanes that are lighter, more dependable, and more efficient. This makes it possible to install an aircraft electrical system that is more robust and adaptable.
Market Statistics
- Market Size in 2023: USD 17.5 billion
- Market Size By 2030: USD 28.5 Billion
- Market Growth Rate (CAGR): 7.9% from 2024-2030
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Aircraft Electrical Systems Market Insight:
Driver-
Inclination Toward More Electric Technology to Optimize Overall Aircraft Performance – The shift toward more electric technology is, in fact, one of the main forces behind the aircraft electrical systems market. In many aircraft tasks, this trend is typified by a move away from conventional pneumatic and hydraulic systems and toward electrical alternatives. The rising use of electric technology in aircraft is a result of several variables, all of which have a major impact on the growth and development of aircraft electrical systems.
Aircraft weight can be reduced by switching out hydraulic and pneumatic systems with aircraft electrical power systems. This translates into a greater range, more fuel economy, and possibly cheaper production costs. Furthermore, compared to conventional systems, aircraft electrical systems have a better efficiency in turning fuel energy into propulsion. As a result, less fuel is used and fewer pollutants are produced. Improved aircraft handling and maneuverability result from the quicker and more accurate control of systems like landing gear and flaps offered by electrical systems. Therefore, several factors, such as the desire for increased fuel efficiency, weight reduction, easier maintenance, increased reliability, environmental concerns, technological advancements, and the electrification of various aircraft systems, are driving the aviation industry's trend toward more electric technology. Throughout the projection years, the aircraft electrical power systems industry is anticipated to be driven by a persistent focus on these factors.
Aircraft Electrical Systems Market Segmentation:
The report has segmented the market into the following categories:
By Components
- Generators- Market Size & Forecast 2019-2030F, USD Million
- Starter Generators- Market Size & Forecast 2019-2030F, USD Million
- Auxiliary Power Unit (APU)- Market Size & Forecast 2019-2030F, USD Million
- Integrated Device Generators (IDG)- Market Size & Forecast 2019-2030F, USD Million
- Variable Speed Constant Frequency (VSCF) Generator- Market Size & Forecast 2019-2030F, USD Million
- Generator Control Unit (GCU)- Market Size & Forecast 2019-2030F, USD Million
- Conversion Devices- Market Size & Forecast 2019-2030F, USD Million
- Inverter- Market Size & Forecast 2019-2030F, USD Million
- Converter- Market Size & Forecast 2019-2030F, USD Million
- Transformer Rectifier Unit (TRU) - Market Size & Forecast 2019-2030F, USD Million
- Distribution Devices- Market Size & Forecast 2019-2030F, USD Million
- Wires and Cables- Market Size & Forecast 2019-2030F, USD Million
- Connectors and Connector Accessories- Market Size & Forecast 2019-2030F, USD Million
- Busbars- Market Size & Forecast 2019-2030F, USD Million
- Battery Management Systems- Market Size & Forecast 2019-2030F, USD Million
By Systems- Market Size & Forecast 2019-2030F, USD Million
- Power Generation- Market Size & Forecast 2019-2030F, USD Million
- Power Distribution- Market Size & Forecast 2019-2030F, USD Million
- Power Conversion- Market Size & Forecast 2019-2030F, USD Million
- Energy Storage- Market Size & Forecast 2019-2030F, USD Million
By Platform- Market Size & Forecast 2019-2030F, USD Million
- Commercial Aviation- Market Size & Forecast 2019-2030F, USD Million
- Military Aviation- Market Size & Forecast 2019-2030F, USD Million
- Business & General Aviation- Market Size & Forecast 2019-2030F, USD Million
By End User- Market Size & Forecast 2019-2030F, USD Million
- OEM- Market Size & Forecast 2019-2030F, USD Million
- Aftermarket- Market Size & Forecast 2019-2030F, USD Million
By Application- Market Size & Forecast 2019-2030F, USD Million
- Power Generation Management- Market Size & Forecast 2019-2030F, USD Million
- Flight Control & Operation- Market Size & Forecast 2019-2030F, USD Million
- Cabin Systems- Market Size & Forecast 2019-2030F, USD Million
- Configuration Management- Market Size & Forecast 2019-2030F, USD Million
- Air Pressurization & Conditioning- Market Size & Forecast 2019-2030F, USD Million
By Region
- North America
- South America
- Middle East & Africa
- Europe
- Asia-Pacific
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Competitive Landscape:
- Ametek, Inc.
- Safran
- Astronics Corporation
- Amphenol Corporation
- PBS Aerospace
- Honeywell International Inc.
- Meggitt Plc
- Thales Group
- United Technologies Corporation
- General Electric
- RTX Corporation
- Acme Aerospace Inc. & Avionic Instruments LLC
- Crane Aerospace & Electronics
- Hartzell Engine Technologies LLC
- Nabtesco Corporation
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
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Key Highlights of the Report:
- Market Performance (2024-2030)
- Strategic Recommendations
- Current, Historical and Future Market Trends
- Market Drivers and Leading Competitor
- SWOT Analysis
- Structure of the Market
- Comprehensive Mapping and Recent Advancement
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