(MENAFN- America News Hour) “The aircraft electrical systems market is projected to grow at a CAGR of 6.45% during the forecast period”.
The growth of the
aircraft electrical systems market
is dependent upon the increasing demand for low-cost electrical systems such as fibre cables, electric invertors and convertors, fuel-efficient aircraft, unmanned aerial vehicles, and more electric architecture in various countries across the world.
The aircraft electrical systems market is projected to grow from USD 17.04 billion in 2023 to USD 24.79 billion by 2033, at a CAGR of 6.45% from 2023-2033.
On board aircraft electrical systems failures and aircraft order backlogs are expected to hinder market growth during the forecast period.
Request to Fill The Form To get Sample Copy of This Report:
“The variable frequency generator component segment is projected to grow at the highest CAGR from 2023-2033”
Based on component, the aircraft electrical systems market has been segmented into, integrated drive generator, variable frequency generator, auxiliary power unit, transformer rectifier unit, generator control unit, power electronics, power distribution systems, and others.
The Variable Frequency Generator (VFG) segment is projected to grow at the highest CAGR of 8.00% during the forecast period. The increasing demand for wide body and very large aircraft is expected to lead to the growth of the VFG segment, as these generators are expected to replace Integrated Drive Generators (IDG) in the coming years. With a VFG on board, aircraft AC electrical systems no longer have to rely on pneumatic starting equipment.
. Request for PDF Sample Copy:
“The Asia-Pacific aircraft electrical systems market is projected to grow at the highest CAGR from 2023-2033”
The aircraft electrical systems market in the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period. This expected high growth is attributed to the increasing passenger traffic which is expected to lead to a rise in the demand for fuel-efficient aircraft. Apart from this, new aviation rules by the Government of India in areas related to the developments on open-skies, code-sharing, and Foreign Direct Investment (FDI) are expected to benefit aircraft manufacturers in terms of generating demand from the Indian aviation market. These rules are expected to enable key players such as Airbus Group (Netherlands) and Boeing Company (U.S.), to set up manufacturing units in India. These, as well as the increasing investments in the defense sector by countries in this region are expected to drive the aircraft electrical systems market.
Break-up of profiles of primary participants for this report:
. By Company Type – Tier 1 – 35%, Tier 2 – 45% , and Tier 3 – 20%
. By Designation – C level – 35%, Director level – 25%, and Others – 40%
. By Region – North America – 45%, Europe – 20%, Asia-Pacific – 30%, and RoW – 5%
Thales Group (France), United Technologies Corporation (U.S.), Zodiac Aerospace (France), Safran S.A.(Sweden), Honeywell International, Inc. (U.S.), Astronics Corporation (U.S.), among others, are the key players operating in the aircraft electrical systems market.
Study Coverage
This report segments the aircraft electrical systems market on the basis of technology, application, platform, component, and region. Based on technology, the aircraft electrical systems market has been segmented into power generation, power conversion, power distribution, and energy storage device. Based on application, the market has been segmented into aircraft utility management, configuration management, flight control & operations, power generation management, and others. The component segment includes integrated drive generator, variable frequency generator, auxiliary power unit, transformer rectifier unit, generator control unit, power electronics, power distribution systems, and others. On the basis of platform, the market has been segmented into fixed wing (narrow body aircraft, wide body aircraft, very large aircraft, regional transportation, business jets, UAVs, and military aircraft), and rotary wing.
Reasons to Buy the Report:
From an insight perspective, the aircraft electrical systems market report focuses on various levels of analyses - industry analysis, market rank analysis, and company profiles, which together comprise and discuss basic views on the competitive landscape, high-growth regions, and countries as well as their respective regulatory policies, drivers, restraints, and opportunities in the aircraft electrical systems market.
The aircraft electrical systems market report provides insights on the following pointers:
. Market Penetration: Comprehensive mapping of the competitive landscape and behavior of participants in the aircraft electrical systems market
. Market Size: Market sizes for the financial year, 2023-2033 and for the forecast period, 2023-2033
. Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the aircraft electrical systems market
. Market Overview: Market dynamics and subsequent analysis of associated trends, drivers, restraints, and opportunities prevailing in the aircraft electrical systems market
. Market Development: Comprehensive information about lucrative markets with an analysis of markets for aircraft electrical systems across varied regions
. Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the aircraft electrical systems market
. Regional Analysis: Factors influencing market shares in North America, Europe, the Middle East, Asia-Pacific, and the rest of the world
. Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading market players.
About SDKI:
The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count ( SDKI ) provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.
For more information, please contact:
Lauren Brown
Shibuya Data Count
Email:
Tel: + 81 3 45720790