Aircraft Electrical Systems Market

Global Aircraft Electrical Systems Market Size (2024 to 2029)

The global aircraft electrical systems market is expected at USD 27.27 billion in 2024 and is estimated to reach USD 37.19 billion by the end of 2029, growing at an annual compound rate of 6.4% during the forecast period. 

An airplane is a set of sophisticated electrical components and subsystems that work together to achieve the desired flight parameters. Aircraft electrical systems comprise four essential subsystems: generation, distribution, conversion, and storage of energy.

This subsystem consists of several electrical components that help generate and transport electricity to all systems throughout the aircraft. In the aircraft electrical systems market, we consider primary generators, auxiliary power units (APUs) and starter generators, distribution buses, remote power distribution assemblies, energy converters, and aircraft batteries.

Advances in high-density battery solutions for electric aircraft and the optimization of aircraft performance through the use of more electrical technologies are key factors that will lead the market for the aircraft electrical system in the coming years.

MARKET DRIVERS

With the rise in passengers traveling around the world, the increase in the manufacture or production of civil aircraft is a factor that supports growth in the target market.

In addition, development for the exquisite customer experience commercial aircraft is improving their services, including products such as on-board entertainment, power supplies for seats, and more. This is expected to accelerate the growth of the global aircraft electrical systems market in the near future. The growth of the target market is likely to accelerate over the next decade as the technological developments of several battery manufacturers increase to provide high-density battery solutions for electric batteries. 

Electric airplanes have gained considerable traction in recent years as they become more profitable due to natural fuel consumption, pollution, and fuel-efficient alternatives. This is expected to support the growth of the aircraft electrical systems industry. Besides, the assembly of aircraft electrical systems and technological advances in battery storage scenarios, the R&D activity to provide light wiring is increasing, and the creation of electrical systems is an excellent opportunity for players in the market. The increase in strategic contracts and partnerships between various players in the global market is foreseen to boost revenue opportunities in the target market.

MARKET RESTRAINTS

With the miniaturization of energy conversion equipment, manufacturers face problems of efficiency and energy density. As a result, the cost of the entire electrical system of the aircraft increases. Market participants face significant challenges in replacing and introducing high-frequency switching mode power supplies for aircraft, which increases the efficiency and cost of the device while reducing the size and weight of the device.

 REPORT COVERAGE

SEGMENTAL ANALYSIS 

Global Aircraft Electrical Systems Market Analysis By Technology

The aircraft electrical system market was classified into power generation, distribution, energy conversion, and energy storage. The power generation sector is expected to lead the market during the forecast period.

Global Aircraft Electrical Systems Market Analysis By Components

The market of the aircraft electrical system is divided into starter generators, transformer rectifiers, contactors, solid-state power controllers, batteries, and others. Of these, the generator sector is expected to lead the market during the forecast period.

Global Aircraft Electrical Systems Market Analysis By Application

The aircraft electrical system market has been divided into Aircraft Utility Management, Configuration Management, Flight Controls and Operations, Power Generation Management. Of these, the aircraft utility management segment is predicted to grow at the highest CAGR during the forecast period.

REGIONAL ANALYSIS

North American aircraft electrical systems market is an essential leader in the global business due to the presence of manufacturers of aircraft electrical systems. Also, major aircraft manufacturers are moving from airplanes to more electric aircraft systems without using hydraulic systems. The North American market has been studied in the United States and Canada. The massive investment in the research and development of more electric airplanes and the growing demand for planes with greater fuel efficiency and lower maintenance are the driving forces of this regional market.

KEY PLAYERS IN THE GLOBAL AIRCRAFT ELECTRICAL SYSTEM MARKET

The global aircraft electrical system market is concentrated with well-established players. Key players in the market inclued Boeing, Thales Group, GE Aviation, T.E Connectivity, Safran SAZodiac Aerospace, Eaton, Honeywell International, Inc., Esterline Control Systems, Aircraft Spruce and Astronics Corporation

RECENT HAPPENINGS IN THE MARKET

• In June 2019, Virgin Atlantic became the first British airline to order an Airbus A330-900neo plane, which is newer and cleaner than ever.
• June 2019: Qantas Airways Ltd. Qantas has converted 26 orders for the A321neo aircraft to the XLR A321. Qantas has also expanded to order an additional 10 XLR A321 for USD 1.4 billion.
• In September 2019, KLM Royal Dutch Airlines spent US$ 751 million for two B777-300ER aircraft. Collins Aerospace (UTC) offers integrated drive generators and generator controls for the B777 family, while ontic offers integrated AC and DC motors.
• In October 2019, Spirit Airlines and Airbus signed a Memorandum of Understanding (MoU) to buy 100 A320. The airline received an excellent order of 55 A320neos, whose delivery is scheduled for 2021. The A320 family is equipped with Collins Aerospace (UTC) power distribution equipment, Meggitt PLC supplies AC power converters, and Safran SA is the only supplier of integrated APU generators.
• In February 2019, Safran Electrical & Power, a subsidiary of Safran S.A, signed a contract with AVIC XAC Commercial Aircraft Co Ltd (XCAC).

DETAILED SEGMENTATION OF THE GLOBAL AIRCRAFT ELECTRICAL SYSTEMS MARKET INCLUDED IN THIS REPORT

This research report on the global aircraft electrical systems market has been segmented and sub-segmented based on the component, technology, application, and region. 

By Component   

• Starter Generators              
• Transformer Rectifiers       
• Contactors              
• Solid-state Power Controller           
• Batteries  

By Technology 

• Power Generation               
• Power Distribution              
• Energy Conversion                                              
• Energy Storage      

By Application

• Aircraft Utility Management            
• Configuration Management            
• Flight Controls and Operations       
• Power Generation Management  

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa