Aircraft Electrical Systems Market Outlook, Trends, Size and Growth to 2025


Posted October 13, 2020 by mohammedimtiaz

The Aircraft Electrical Systems is an independent network of components that generate, utilize, distribute and to store electrical energy.
 
Aircraft Electrical Systems Market Overview:
The global Aircraft Electrical Systems market was valued at 19,344 million US dollars in 2020 that is expected to reach 37,265 million US dollars by the end of 2030 with a compound annual growth rate of 6.8% during the outlook period of 2020 to 2030.

Rising operational aircraft fleet for upgradation and new aircraft deliveries in emerging economies propels the growth of the market for Aircraft Electrical Systems.

Product Description
The Aircraft Electrical Systems is an independent network of components that generate, utilize, distribute and to store electrical energy, whereas the complexity of the electrical systems varies from single engine aircrafts to modern multi engine aircrafts.

North America to continue its reign in Aircraft Electrical Systems Market
The market of Aircraft Electrical Systems is expected to increase by 2030, projecting at a compound annual growth of 6.8% during the forecast period of 2020 to 2030.

Covid-19 Impact on Aircraft Electrical Systems market
Due to COVID-19 pandemic, all the companies have been affected financially with their businesses being halted for a long period of time. Due to coronavirus, so many industries such as aerospace & defense, transportation, wind energy, construction, consumer & electronics goods, and others have impacted very badly. The virus has forced several companies in this business to shut down their manufacturing process as a part of the lockdown conditions by the government authorities. As per the analysis, the Aircraft Electrical Systems market is expected to increase with an impeccable growth rate owing to the improvement in the network of commercial aviation and increasing investments for the technological advancementsin the next few years.

Segmentation Analysis
The global Aircraft Electrical Systems market is segmented according to end-user, system, component,application, technology and platform.
On the basis of end-user, the market of Aircraft Electrical Systems is segmented into Aftermarket and OEM.

On the basis of system, the Aircraft Electrical Systems market is segmented into Power generation, power distribution, power conversion and energy storage.
On the basis of component, the market of Aircraft Electrical Systems is divided into conversion devices, generators, distribution devices and battery management systems.
On the basis of application, the market of Aircraft Electrical Systems is segmented into cabin system, power generation management, flight control & operation, configuration management, air pressurization and conditioning.

On the basis of technology, the market of Aircraft Electrical Systems is segmented into more electric, conventional and electric.

On the basis of platform, the market of Aircraft Electrical Systems is segmented into military aviation, commercial aviation, business & general aviation.

Drivers
Rising operational aircraft fleet for upgradation and new aircraft deliveries in emerging economies, optimized aircraft performance through the use of more electric technology are some of the major driving factors helping the growth of the market of Aircraft Electrical Systems. Also, increasing investments for research and development for the new technological advancements supports the Aircraft Electrical Systems market to grow further. Power density and efficiency are some of the major restraint effecting the growth of the Aircraft Electrical Systems market revenue rate.

Regional Analysis
The market of Aircraft Electrical Systems is elaborated in various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe region (Italy, UK, France, Germany, Spain and rest of Europe), Asia Pacific region (India, Japan, China, Australia and rest of Asia Pacific), Middle East, Africa and South America.
Among these regions, North America dominated the global aircraft electrical systems market owing to thegrowing demand for aircraft for commercial applications and their increasing utility in the defense sector in this region. North America region is also expected to hold the dominance of the market during the outlook period. Asia Pacific holds the second largest share of the market owing to the increasing demand for aircraft for commercial application in this area. Europe region is expected to increase the market value owing to the factors such as increasing investments by the companies for research & development in the field.

Key Players
Major players of the global Aircraft Electrical Systems market areAstronics Corporation (US), AMETEK (US), Thales Group (France), Astronics Corporation (US), Amphenol Corporation (US), Esterline Technologies (US), Meggitt (UK), Honeywell (US).

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Tags aircraft electrical systems market
Last Updated October 13, 2020