Aircraft Electrical System Market Report 2024 (Global Edition)

Global Aircraft Electrical System Market Report 2024 Market Size Split by System (Power Generation, Power Distribution, Power Conversion, Energy Storage), by Application (Power Generation Management, ...

Aircraft Electrical System Market Report Description

We have various report editions of Aircraft Electrical System Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Aircraft Electrical System Market Insights Video

Competitive Landscape of the Aircraft Electrical System Market

The major players adopt new tactics quickly to gain a competitive advantage and take a substantial portion of the market. To serve a sizable customer base and obtain a competitive advantage, the key players in the aircraft electrical system industry strongly emphasise extending their creative products.

Aircraft Electrical System Industry News

• May 2021, Pyroalliance and Safran Electrical & Power have partnered to create emergency pyrotechnic electrical shutdown solutions. The focus of this effort is high-power electric networks for airplanes of the future.

(Source: www.safran-group.com/pressroom/safran-and-pyroalliance-announce-partnership-emergency-pyrotechnic-electrical-shutdown-solutions-2021-05-04)

Top Companies Market Share in Aircraft Electrical System Industry: (In no particular order of Rank)

• RTX Corporation
• Amphenol Corporation
• Honeywell International Inc.
• THALES
• General Electric Company
• Acme Aerospace Inc. & Avionic Instruments LLC
• Astronics Corporation 
• Crane Aerospace & Electronics
• AMETEK Inc.
• Hartzell Engine Technologies LLC
• Meggitt PLC
• Nabtesco Corporation
• PBS AEROSPACE Inc. 
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North America Aircraft Electrical System Market share was 40% of the total market

As per Cognitive Market Research, North America dominated the market in 2023 and accounted for around 40% of the global revenue. The region greatly impacts market growth because of its strong aerospace sector, technical innovation, and high demand for commercial and military aviation. North America is positioned as a major contributor to the changing aircraft electrical system market thanks to ongoing developments and a focus on updating aircraft fleets.

Europe is the fastest-growing category, as the area is known for its advanced aerospace sector, technological leadership, and commitment to modernizing aviation. Europe plays a major role in the Growth and development of the aircraft electrical system market, influencing its trajectory within the global aerospace sector due to the growing demand for sophisticated and efficient electrical systems in both military and commercial applications.

The current report Scope analyzes Aircraft Electrical System Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Aircraft Electrical System Market

According to Cognitive Market Research, the global Aircraft electrical system market size was estimated at USD 19.8 Billion, out of which North America held the major market of more than 40% of the global revenue with a market size of USD 7.92 billion in 2023 and will grow at a CAGR of 6.3% from 2023 to 2030. North America's strong aerospace sector and technological prowess make it a major market driver for aviation electrical systems. The summary emphasizes the region's significant market share and leadership in aviation innovation. North America is a key player in the military aviation sector due to large defence spending and modernization initiatives. Modern electrical systems are becoming more and more necessary for military and commercial aeroplanes. In summary, North America's strategic location, technological developments, and robust market demand establish the region as a major force in directing the aircraft electrical system market's growth trajectory and fostering its ongoing evolution within the global aerospace landscape.

Europe Aircraft Electrical System Market

According to Cognitive Market Research, the global Aircraft electrical system market size was estimated at USD 19.8 Billion, out of which Europe had a market value of USD 5.94 billion in 2023 and is projected to expand at a CAGR of 6.5% from 2023 to 2030, Europe accounted for the majority of global revenue, accounting for over 30% of the total, Europe is becoming a major player in the aircraft electrical system market thanks to its advanced aerospace industry and dedication to technological advancement. The summary highlights Europe's leading position in the global aviation industry, backed by a strong market presence and state-of-the-art developments. The commercial aviation segment dominates the market, which indicates Europe's focus on fleet modernization and upgrading to improve efficiency. The area's commitment to superior aviation drives an increasing demand for sophisticated electrical systems. In summary, Europe is positioned to play a major role in guiding the growth of the aircraft electrical system market and assisting in its development on a worldwide scale due to its proactive approach to technological integration and strategic focus on commercial aviation.

Asia Pacific Aircraft Electrical System Market

According to Cognitive Market Research, the global Aircraft electrical system market size was estimated at USD 19.8 Billion, out of which Asia Pacific held a considerable market share in 2023, accounting for more than 22% of the global revenue with a market size of USD 4.36 billion in 2023 and will grow at a CAGR of 9.3% from 2023 to 2030. With its expanding aerospace industry and quickening technology breakthroughs, Asia Pacific is a dynamic market leader for aircraft electrical systems. The review emphasizes how the region's growing fleet size and infrastructural advancements have contributed to its growing significance in the global aviation environment. Asia Pacific is a key player in the military aviation sector because of the region's emphasis on modernization and defence capabilities. The increasing need for sophisticated electrical systems can be attributed to their essential function in maximizing aircraft performance. To sum up, the aerospace industry in the Asia Pacific is experiencing rapid growth in the aviation sector. This growth is attributed to the region's emphasis on military capabilities and technological innovation, making it a key driver of the aircraft electrical system market's development within the global aerospace industry.

South America Aircraft Electrical System Market

According to Cognitive Market Research, the global Aircraft electrical system market size was estimated at USD 19.8 Billion, out of which Latin America accounted for more than 5% of the global aircraft electrical system revenue in 2023 with a market size of USD 0.99 billion in 2023 and will grow at a CAGR of 7.3% from 2023 to 2030. Latin America's booming aerospace industry and growing regional clout indicate that the area plays a major role in the aviation electrical system market. The overview emphasizes how the region's growing fleet and infrastructural development have bolstered its role in world aviation. The military aviation segment dominates the market, indicating Latin America's emphasis on defence modernization and capabilities. The need for technologically advanced electrical systems is noteworthy because of their critical function in guaranteeing the smooth operation of airplanes. Finally, given its growing significance in the global aerospace sector, Latin America's modernizing aviation scene positions the area as a notable contributor to the growth of the aircraft electrical system market.

Middle East and Africa Aircraft Electrical System Market

According to Cognitive Market Research, the global Aircraft electrical system market size was estimated at USD 19.8 Billion, out of which the Middle East and Africa accounted for more than 3% of the global revenue in 2023, with a market size of USD 0.59 billion in, 2023 and will grow at a CAGR of 7.4% from 2023 to 2030 A major factor influencing the aircraft electrical system market is the Middle East and Africa, which is distinguished by a developing aerospace industry and tactical positioning. The summary highlights the region's growing importance in aviation, as seen by growing fleet sizes and infrastructural developments. The commercial aviation sector is a key player in the industry, demonstrating the region's dedication to improving air travel capabilities. Modern electrical systems are needed because they are essential to maximizing aircraft performance. In conclusion, the Middle East and Africa are positioned to play a significant role in guiding the growth of the aircraft electrical system market and assisting in its development within the global aerospace industry due to their dedication to aviation excellence and strategic focus on both military and commercial aviation.

Aircraft Electrical System Market Analysis

Aircraft Electrical System System Segment Analysis

According to Cognitive Market Research, power generation held the major market share over the forecast period. Aircraft power generation systems, including generators and other parts, are increasingly in demand. The aviation sector is driving Growth in the aircraft electrical system market by emphasizing fuel efficiency and technical improvements. Power generation plays a crucial role in improving overall aircraft performance.

Power distribution is the fastest-growing category over the forecast period due to the growing need for sophisticated power distribution systems within aeroplanes, which guarantee a steady and effective flow of electricity to different parts. Effective power distribution solutions are becoming increasingly important as the aviation sector emphasises efficiency and modernization, driving the market for aircraft electrical systems.

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

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Aircraft Electrical System Industry. Request a Free Sample PDF!

Aircraft Electrical System Application Segment Analysis

According to Cognitive Market Research, power generation management holds a prominent market share. The industry's emphasis on power generation optimization, including sophisticated controls and intelligent management systems, improves the overall performance and dependability of aircraft. The aviation industry strongly emphasises fuel economy, sustainability, and technical improvements. As a result, efficient power generation management plays a critical role and drives the market for aircraft electrical systems.

Flight control and operation are the fastest-growing categories over the forecast period; growth is driven by increased demand for sophisticated avionics, control systems, and electrical components connected to operations. The market for aircraft electrical systems is growing substantially due to the integration and improvement of flight control and operation systems. This is because the aviation industry is evolving, emphasising automation, safety, and efficiency.

• Power Generation Management
• Flight Control & Operation
• Cabin System
• Configuration Management
• Air Pressurization & Conditioning

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Aircraft Electrical System Component Segment Analysis

According to Cognitive Market Research, battery management systems hold a prominent market share. The growing adoption of modern BMS ensures efficient energy storage and consumption within aircraft. Because of the aviation industry's focus on electrification, fuel economy, and sustainability, the market for aircraft electrical systems has grown dramatically due to efficient battery management, which meets the changing requirements of contemporary aircraft.

Generators are the fastest-growing category over the forecast period. The need for dependable and efficient power generation is growing, and generators are essential for supplying electricity to various aviation systems. The aviation sector places a strong emphasis on fuel efficiency and technical improvements. One important factor driving the growth of the aircraft electrical system market is the generators' ability to power necessary components.

• Generators
• Conversion devices
• Distribution devices
• Battery Management Systems

Aircraft Electrical System End-User Segment Analysis

According to Cognitive Market Research, aftermarket holds a prominent market share. The market is expanding due largely to the rising need for maintenance, repair, and upgrade services for current aircraft electrical systems. The popularity of the aftermarket segment in the aircraft electrical system market is driven by airlines' and operators' focus on improving the performance and dependability of in-service aircraft as the aviation industry develops.

The OEM is the fastest-growing category over the forecast period due to the need for integrated and cutting-edge electrical systems in newly built aircraft, which will greatly impact market expansion. OEMs are playing a crucial role in reshaping the aircraft electrical system market as they continue to innovate and integrate cutting-edge technology, meeting the changing demands of the aerospace sector.

• OEM
• Aftermarket

Aircraft Electrical System Platform Segment Analysis

According to Cognitive Market Research, commercial aviation holds a prominent market share. Advanced electrical systems are necessary due to the growing demand for new commercial aircraft and the continuous focus on technical developments. The commercial aviation industry plays a crucial role in driving the Growth of the aircraft electrical system market as airlines strive for more sustainable and efficient solutions to fulfil the ever-evolving needs of modern air travel.

The military aviation is the fastest-growing category over the forecast period. Military aircraft have a greater need for sophisticated and durable electrical systems because of their mission-critical functions. The demand for durable and advanced electrical components in military aircraft is highlighted by the military's significant influence in driving the Growth of the aircraft electrical system market as defence forces throughout the world modernize their fleets.

• Commercial Aviation
• Military Aviation
• Business & General Aviation

Author's Detail

Anjali Lawand

Research Associate at Cognitive Market Research

LinkedIn

Profile

Anjali Lawand is an accomplished market researcher with a distinct focus on the intricate sector of the Aerospace and Defense. Driven by an unshakable analytical prowess and an insatiable appetite for technological progress, she has committed more than ten years to immersing herself in the ever-evolving panorama that molds the trajectory of aviation, space exploration, and the critical sphere of national security.

Author's Conclusion