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The Aircraft Electrical Systems Market Size was valued at USD 23.76 million in 2023 and is expected to reach USD 43.69 million by 2032 with a growing CAGR of 7.0% over the forecast period 2024-2032.
The aircraft electrical system market is being driven by factors such as improved airline networks, increased customer preference for air travel, increased defence spending, and a surged inclination toward all-electric and more-electric air crafts, as well as an increase in the use of drones for civil and defence purposes. On the contrary, existing aircraft delivery backlogs and electric failures within existing aircraft cast doubt on the reliability of new electric systems. This is expected to limit the growth of the global electrical system market. However, significant research is being conducted in the design and development of aircraft electrical systems. The increased demand for light-weight air crafts around the world is forcing electric system manufacturers to create electrical components that are lighter and more reliable. "More electric aircraft" are air crafts in which electrically powered systems replace mechanical, pneumatic, and hydraulic systems, resulting in improved performance and reliability as well as lower operating costs. Furthermore, collaboration between electrical system manufacturers and aircraft manufacturers to invest in electric power systems is increasing. Such collaborative projects are expected to provide lucrative opportunities for the growth of the aircraft electrical system market.
MARKET DYNAMICS
KEY DRIVERS
improved aircraft performance by incorporating more electric technology.
The switch from hydraulic to electric power reduces the weight of the aircraft by eliminating the need for hydraulic reservoirs.
RESTRAINTS
Existing aircraft delivery backlogs and electric failures in existing aircraft cast doubt on the reliability of new electric systems.
Leading Asian Economies Lack Aviation Infrastructure
OPPORTUNITIES
Electrical system technological advancements in aircraft
Reduced overall aircraft weight leads to increased fuel efficiency.
CHALLENGES
Efficiency and power density
Market participants face a significant challenge in replacing and introducing high-frequency switch-mode power supplies for aircraft.
IMPACT OF COVID-19
The unfriendly effect of Corona virus on the aviation and guard area is probably going to stop the development of the worldwide airplane electrical frameworks market over the course of the following couple of years. The aeronautics business has seen an exceptional decay starting from the start of the pandemic. The flare-up of the infection has fundamentally affected carrier organizations. The quantity of planned flights overall for the week beginning fourth January 2021 was 43.5% lower than that of the week beginning sixth January 2020. Because of this extreme reduction in air traveler traffic universally, the incomes of carrier organizations declined in 2020. The flying business has seen practically zero development when contrasted with the earlier year. The decrease in air traveler incomes is likewise expected to diminish the interest for new airplane by the carrier organizations during this year. Also, there will be postpones in airplane conveyances via airplane producers like Airbus SAS and Boeing. Hence, defers in airplane conveyance and a diminishing in airplane tasks are decreasing the interest for airplane electrical frameworks.
Regardless of the Corona virus emergency, the standpoint stays positive and compelled by a few elements, for example, the Corona virus bend, inoculation rate, and monetary recuperation. State run administrations across the world are working in close cooperation with the antibody makers for fast immunization roll-out. With these requirements being momentary in nature the drawn out development drivers actually being pertinent, the flight business is supposed to quickly return to pre-pandemic development levels in two or three years. Hence, the Corona-virus influence on the worldwide airplane electrical frameworks market is supposed to be present moment and recuperate in the following several years.
The commercial aviation industry has grown rapidly in recent years. This expansion can be attributed to factors such as increased air travel, rising middle-class disposable income, and increased international trade and tourism around the world. Strong growth in this sector has led to an increase in aircraft orders to meet rising air passenger traffic.
Generators are an essential component of aircraft electrical systems. They are the main source of electricity. Generators, which are found in light aircraft, convert mechanical energy into electrical energy. They are also powered by the engine via a belt system. At low engine RPM, aircraft with generators use battery power. Alternators are now used in most aircraft as a replacement for generators.
Power generation, power distribution, power conversion, and energy storage have all been classified as systems. The major players in the aircraft electrical systems market have been working on lightweight, high-quality energy storage systems. Aircraft manufacturers are collaborating closely with aircraft electrical system providers to improve the operational efficiency of energy storage systems in order to improve the operational performance of hybrid electric and fully electric aircraft. As a result, demand for aircraft electrical systems in the energy storage segment is expected to rise significantly during the study period.
The aircraft electrical systems market is expected to expand significantly in the coming years as demand for new aircraft rises globally, as does demand for electric aircraft for commercial aviation. The presence of several global and regional vendors distinguishes the global aircraft electrical systems market. The market is extremely competitive, with all players attempting to gain the greatest possible market share. The key factors influencing global market growth are frequent changes in government policies, intense competition, and government regulations. The vendors compete on price, product quality, and dependability.
By System
Conversion
Distribution
Energy Storage
By Component
Generators
Conversion devices
Distribution devices
By Platform
Commercial Aviation
Military Aviation
Business & General Aviation
By End User
Commercial
Defense
By Application
Power Generation
Utility Management
Configuration Management
Flight Controlling
REGIONAL ANALYSIS
North America is supposed to be the biggest market for airplane electrical frameworks during the figure time frame. The developing interest for airplane for business applications and their rising utility in the protection area to do ship and observation exercises are extra factors affecting the development of the airplane electrical frameworks market in the North American district.
Tremendous interests in the innovative work of more electric airplane and expanding interest for eco-friendly and low-support airplane are factors driving the development of the airplane electrical frameworks market around here. Ongoing advances in innovation have empowered Boeing to consolidate a new no-drain frameworks engineering in the Boeing 787 Dream liner. The new engineering wipes out the customary pneumatic framework and drain complex, and converts the power wellspring of most capacities, previously fueled by drain air, to electric power, which incorporates cooling frameworks.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
The Major Players are Astronics, Boeing, Safran, UTC Aerospace, Fokker technologies, Thales, Lockheed Martin, Zodiac Aerospace, Esterline Control Systems, Eaton and Other Players
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 23.76 Million |
| Market Size by 2032 | USD 43.69 Million |
| CAGR | CAGR of 7% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By System (Power Generation, Conversion, Distribution, Energy Storage) • By Component(Generators, Conversion devices, Distribution devices, Battery Management Systems) • By Platform (Commercial Aviation, Military Aviation, Business & General Aviation) • By End User (Commercial and Defense) • By Application (Power Generation, Utility Management, Configuration Management, and Flight Controlling) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Astronics, Boeing, Safran, UTC Aerospace, Fokker technologies, Thales, Lockheed Martin, Zodiac Aerospace, Esterline Control Systems, and Eaton. |
| DRIVERS | • improved aircraft performance by incorporating more electric technology. • The switch from hydraulic to electric power reduces the weight of the aircraft by eliminating the need for hydraulic reservoirs. |
| RESTRAINTS | • Existing aircraft delivery backlogs and electric failures in existing aircraft cast doubt on the reliability of new electric systems. • Leading Asian Economies Lack Aviation Infrastructure |
According to SNS insiders, the Aircraft Electrical Systems Market size was USD 22.21 million in 2022 and is expected to reach USD 33.33 million by 2028 with a CAGR of 7% over the forecasted period.
Financial, Products/ Services Offered, SWOT Analysis, The SNS view.
Existing aircraft delivery backlogs and electric failures in existing aircraft cast doubt on the reliability of new electric systems and Leading Asian Economies Lack Aviation Infrastructure.
Because of the COVID-19 outbreak, passenger travel demand has decreased across the region, negatively impacting the aviation industry globally. According to the most recent estimates, passenger demand has been reduced from 189 million in 2022 to 3,061 million. This level of demand would be 2,110 to 2,880 million lower than the 2021 level. The most significant reduction in demand is expected in Asia/Pacific, followed by Europe, which is approaching its summer travel peak season. With such an impact on the aviation industry, the global market for electrical systems is expected to suffer.
North America is supposed to be the biggest market for Aircraft electrical Market during the figure time frame.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Aircraft Electrical Systems Market, by System
8.1 Power Generation
8.2 Conversion
8.3 Distribution
8.4 Energy Storage
9. Aircraft Electrical Systems Market, by Component
9.1 Generators
9.2 Conversion devices
9.3 Distribution devices
9.4 Battery Management Systems
10. Aircraft Electrical Systems Market, by Platform
10.1 Commercial Aviation
10.2 Military Aviation
10.3 Business & General Aviation
11. Aircraft Electrical Systems Market, by End User
11.1 Commercial
11.2 Defense
12. Aircraft Electrical Systems Market, by Application
12.1 Power Generation
12.2 Utility Management
12.3 Configuration Management
12.4 Flight Controlling
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Astronics
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Thales
14.3 Lockheed Martin
14.4 Zodiac Aerospace
14.5 Esterline Control Systems
14.6 UTC Aerospace
14.7 Fokker technologies
14.8 Eaton
14.9 Boeing
14.10 Safran
15. Competitive Landscape
15.1 Competitive Benchmarking
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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