Aircraft Electrical Systems Market To Surpass USD 53 Billion By 2034, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Aircraft Electrical Systems industry size is expected to register 7.4% CAGR between 2025 and 2034 propelled by demand for fuel efficiency and reduced operational costs.

Selbyville, Delaware , Jan. 21, 2025 (GLOBE NEWSWIRE) -- Aircraft Electrical Systems market was valued at USD 26.6 billion in 2024 and is projected to be worth USD 53 billion by the end of 2034, as per a recent study by Global Market Insights Inc.

Growth in this market is driven by rising demand for advanced electrical systems in military aviation, as defense agencies seek next-generation aircraft with improved range, reliability, and flexibility. This demand is fueling the need for robust starter generators and power management systems that meet stringent military requirements, opening significant opportunities in the sector.

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The industry is moving towards electric and hybrid-electric aircraft designs, focusing on improving fuel efficiency, cutting emissions, and lowering operational costs. This shift accelerates innovations in energy storage, power distribution, and electric propulsion across commercial, military, and urban air mobility sectors. Notable advancements include enhanced battery technologies, lighter materials, and optimized power management systems.
By platform, the aircraft electrical systems market is segmented into commercial aviation, military aviation, and business & general aviation. The commercial aviation segment is expected to grow at a CAGR of 7.5% during the forecast period, driven by the shift toward MEA. Commercial airlines are replacing traditional hydraulic and pneumatic systems with electrical ones to reduce emissions, increase fuel efficiency, and minimize costs. This move towards electric systems spurs the development of hybrid and fully electric aircraft, especially for short-haul routes. Advances in battery technology are a key factor in this transformation, enabling the adoption of electric propulsion for greener commercial aviation.
In terms of system types, the aircraft electrical systems market is divided into power generation, power distribution, power conversion, and energy storage. The power generation segment held the largest share in 2024, with a revenue of USD 10.4 billion. A notable trend in this segment is the shift towards hybrid and fully electric power generation systems, aligning with the MEA approach that prioritizes electric systems over traditional mechanical and hydraulic ones. Aircraft manufacturers are integrating electric generators with turbine engines to reduce fuel consumption and emissions, enhancing the efficiency and environmental sustainability of both commercial and military aircraft. This trend drives improvements in power systems that support greener and more efficient aviation solutions.
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Regionally, North America led the aircraft electrical systems market, capturing a 39.7% share in 2023. The U.S. market is focused on advancing MEA to boost fuel efficiency and reduce emissions, increasing the demand for hybrid-electric and all-electric propulsion systems. Manufacturers are concentrating on developing lightweight, high-capacity batteries and energy storage solutions to support these next-generation aircraft, further propelling the market in North America.

Aircraft Electrical Systems Market Players

Companies including Ametek, Amphenol, Astronics, Avionic Instruments, BAE Systems, Crane Aerospace & Electronics, GE Aviation, Honeywell, Meggitt, Nabtesco, PBS Aerospace, Radiant Power, RTX, Safran are some firms working in aircraft electrical systems industry.

This aircraft electrical systems market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD million) from 2021 to 2034, for the following segments:

Market, By System

• Power generation
• Power distribution
• Power conversion
• Energy storage

Market, By Component

• Generators
• Conversion devices
• Distribution devices
• Battery management systems

Market, By Platform

• Commercial aviation
• Military aviation
• Business & general aviation

Market, By Application

• Power generation management
• Flight control & operation
• Cabin system
• Configuration management
• Air pressurization & conditioning

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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