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Aircraft-Electrical-Systems-Market
Rising demand for electric aircraft and sustainable solutions propel growth in the Aircraft Electrical Systems Market.
AUSTIN, TEXAS, UNITED STATES, April 8, 2024 /EINPresswire / -- Aircraft Electrical Systems Market Overview:
The Aircraft Electrical Systems Market is poised for substantial growth, driven by the increasing adoption of electric aircraft. The demand for more efficient and reliable electrical systems in aircraft is escalating, primarily due to the advancements in electric propulsion systems and the need for enhanced passenger experience. Moreover, the integration of advanced technologies such as power electronics and electric actuators is further propelling market expansion.
Another key factor fueling market growth is the rising focus on reducing carbon emissions in the aviation industry. Electric aircraft offer a sustainable solution, as they produce lower emissions compared to traditional aircraft powered by fossil fuels. This has led to significant investments in the development of electric propulsion systems and efficient electrical systems, driving the Aircraft Electrical Systems Market forward. Additionally, the increasing demand for lightweight aircraft components to improve fuel efficiency is boosting the adoption of advanced electrical systems in aircraft, further contributing to market growth.
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Market Sizing:
In a breakthrough forecast, SNS Insider unveils the remarkable trajectory of the Aircraft Electrical Systems Market, poised to surpass USD 38.14 billion by 2030. The market, valued at USD 22.21 billion in 2022, anticipates a substantial compound annual growth rate of 7%, fueled by the surging demand for all-electric and more-electric aircraft, increasing defense spending, and the adoption of electric power systems in collaboration between electrical system and aircraft manufacturers.
According to the latest SNS Insider report, the Aircraft Electrical Systems Market, valued at USD 22.21 billion in 2022, is expected to achieve a market size of USD 38.14 billion by 2030. The compound annual growth rate of 7% signifies robust expansion over the forecast period from 2023 to 2030.
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Major Key Players Included are:
. Astronics
. Boeing
. Safran
. UTC Aerospace
. Fokker technologies
. Thales
. Lockheed Martin
. Zodiac Aerospace
. Esterline Control Systems
. Eaton and Other Players
Market Report Scope:
The global Aircraft Electrical Systems Market witnesses unprecedented growth, driven by factors such as the evolution of improved airline networks, heightened customer preference for air travel, increased defense spending, and a pronounced shift towards all-electric and more-electric aircraft. The market faces challenges related to existing aircraft delivery backlogs and concerns about electric failures, raising questions about the reliability of new electric systems. However, ongoing research in the design and development of aircraft electrical systems, especially in the context of lightweight aircraft, is propelling advancements in electric components. Collaborative efforts between electrical system manufacturers and aircraft manufacturers are opening avenues for market growth through impactful projects.
Market Analysis:
The Aircraft Electrical Systems Market is experiencing a paradigm shift, marked by a transition from hydraulic to electric power, resulting in reduced aircraft weight and improved overall performance. This shift not only contributes to increased fuel efficiency but also presents opportunities for technological advancements in aircraft electrical systems. Lighter and more reliable components are in demand to meet the rising preference for lightweight aircraft, fostering innovation and collaboration between manufacturers. The concept of "more electric aircraft" is gaining traction, where electrically powered systems replace traditional mechanical, pneumatic, and hydraulic systems, enhancing performance, reliability, and operational cost-effectiveness.
Segment Analysis:
. The Aircraft Electrical Systems Market is intricately segmented, with distinct categories shaping its trajectory.
. Power Generation systems stand as the backbone, ensuring the availability of essential electrical energy for diverse aircraft components.
. Among components, Generators play a pivotal role, converting mechanical energy into electrical power with critical efficiency. In the platform category, Commercial Aviation takes the lead, driven by the surge in air travel and the demand for technologically advanced, fuel-efficient aircraft.
. Defense emerges as a dominating end-user, relying on advanced electrical systems for power generation, utility management, and flight control. Utility Management applications, addressing the increasing complexity of aircraft systems, stand out as a crucial segment in shaping the market landscape.
Sub-Segmentation included are:
By System
. 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
. Defense
By Application
. Power Generation
. Utility Management
. Configuration Management
. Flight Controlling
Growth Factors
. The aviation industry is witnessing a shift toward More Electric Aircraft (MEA), where traditional mechanical and hydraulic systems are replaced with advanced electrical systems. This transition contributes to the growth of the Aircraft Electrical Systems Market.
. The continuous increase in aircraft production rates, driven by growing passenger air travel and cargo transportation demands, propels the demand for aircraft electrical systems. Both commercial and military aviation sectors contribute to this growth.
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Key Regional Development:
North America emerges as the primary market for Aircraft Electrical Systems, driven by a growing demand for aircraft in commercial and defense applications. The region witnesses substantial investments in research and development, particularly in more electric aircraft, and a rising preference for eco-friendly and low-maintenance aircraft. Technological advancements, exemplified by Boeing's no-drain systems architecture in the 787 Dreamliner, highlight the region's commitment to innovation and sustainability.
Key Takeaways:
. The Aircraft Electrical Systems Market is poised to exceed USD 38.14 billion by 2030, propelled by the increasing demand for electric aviation technology and collaborative efforts between manufacturers.
. Power Generation systems, Generators, Commercial Aviation, Defense, and Utility Management applications emerge as dominant segments shaping the market landscape.
. North America leads the market, driven by technological innovations, defense investments, and a robust preference for eco-friendly aircraft.
Recent Developments:
. Aircraft Electrical Systems Market include STMicroelectronics' continued progress in power electronics for aircraft propulsion.
. Safran's acquisition of Thales' aeronautical electrical systems business underscores the industry's commitment to advancing electrical energy conversion activities for power generation and electric motors in both civil and military aviation sectors.
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Table of Contents – Major Key Points
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Aircraft Electrical Systems Market, by System
9. Aircraft Electrical Systems Market, by Component
10. Aircraft Electrical Systems Market, by Platform
11. Aircraft Electrical Systems Market, by End User
12. Aircraft Electrical Systems Market, by Application
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion
About Us:
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