Aircraft Electrical Systems Market to Reach USD 17.5 billion in 2023, Growing at a CAGR of 7.9%

Market Insights

As per recent research by MarkNtel Advisors, The Global Aircraft Electrical Systems Market size was valued at around USD 17.5 billion in 2023 and is projected to reach USD 28.5 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7.9% during the forecast period, i.e., 2024-30.

Global Aircraft Electrical Systems Market Driver:

Inclination Toward More Electric Technology to Optimize Overall Aircraft Performance – The shift toward more electric technology is, in fact, one of the main forces behind the aircraft electrical systems market. In many aircraft tasks, this trend is typified by a move away from conventional pneumatic and hydraulic systems and toward electrical alternatives. The rising use of electric technology in aircraft is a result of several variables, all of which have a major impact on the growth and development of aircraft electrical systems.

Aircraft weight can be reduced by switching out hydraulic and pneumatic systems with aircraft electrical power systems. This translates into a greater range, more fuel economy, and possibly cheaper production costs. Furthermore, compared to conventional systems, aircraft electrical systems have a better efficiency in turning fuel energy into propulsion. As a result, less fuel is used and fewer pollutants are produced. Improved aircraft handling and maneuverability result from the quicker and more accurate control of systems like landing gear and flaps offered by electrical systems. Therefore, several factors, such as the desire for increased fuel efficiency, weight reduction, easier maintenance, increased reliability, environmental concerns, technological advancements, and the electrification of various aircraft systems, are driving the aviation industry's trend toward more electric technology. Throughout the projection years, the aircraft electrical power systems industry is anticipated to be driven by a persistent focus on these factors.

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Market Segmentation and Consumer Behavior:

By Components

Generators- Market Size & Forecast 2019-2030F, USD Million
- Starter Generators- Market Size & Forecast 2019-2030F, USD Million
- Auxiliary Power Unit (APU)- Market Size & Forecast 2019-2030F, USD Million
- Integrated Device Generators (IDG)- Market Size & Forecast 2019-2030F, USD Million
- Variable Speed Constant Frequency (VSCF) Generator- Market Size & Forecast 2019-2030F, USD Million
- Generator Control Unit (GCU)- Market Size & Forecast 2019-2030F, USD Million
Conversion Devices- Market Size & Forecast 2019-2030F, USD Million
- Inverter- Market Size & Forecast 2019-2030F, USD Million
- Converter- Market Size & Forecast 2019-2030F, USD Million
- Transformer Rectifier Unit (TRU) - Market Size & Forecast 2019-2030F, USD Million
Distribution Devices- Market Size & Forecast 2019-2030F, USD Million
- Wires and Cables- Market Size & Forecast 2019-2030F, USD Million
- Connectors and Connector Accessories- Market Size & Forecast 2019-2030F, USD Million
- Busbars- Market Size & Forecast 2019-2030F, USD Million
Battery Management Systems- Market Size & Forecast 2019-2030F, USD Million

By Systems- Market Size & Forecast 2019-2030F, USD Million

Power Generation- Market Size & Forecast 2019-2030F, USD Million
Power Distribution- Market Size & Forecast 2019-2030F, USD Million
Power Conversion- Market Size & Forecast 2019-2030F, USD Million
Energy Storage- Market Size & Forecast 2019-2030F, USD Million

By Platform- Market Size & Forecast 2019-2030F, USD Million

Commercial Aviation- Market Size & Forecast 2019-2030F, USD Million
Military Aviation- Market Size & Forecast 2019-2030F, USD Million
Business & General Aviation- Market Size & Forecast 2019-2030F, USD Million

By End User- Market Size & Forecast 2019-2030F, USD Million

OEM- Market Size & Forecast 2019-2030F, USD Million
Aftermarket- Market Size & Forecast 2019-2030F, USD Million

By Application- Market Size & Forecast 2019-2030F, USD Million

Power Generation Management- Market Size & Forecast 2019-2030F, USD Million
Flight Control & Operation- Market Size & Forecast 2019-2030F, USD Million
Cabin Systems- Market Size & Forecast 2019-2030F, USD Million
Configuration Management- Market Size & Forecast 2019-2030F, USD Million
Air Pressurization & Conditioning- Market Size & Forecast 2019-2030F, USD Million

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Aircraft Electrical Systems Market Geographical Analysis:

By Region:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific

Key Players and Competitive Strategies in the Aircraft Electrical Systems Market

Several prominent players dominate the Aircraft Electrical Systems Market, including:

Ametek, Inc.
Safran
Astronics Corporation
Amphenol Corporation
PBS Aerospace
Honeywell International Inc.
Meggitt Plc
Thales Group
United Technologies Corporation
General Electric
RTX Corporation
Acme Aerospace Inc. & Avionic Instruments LLC
Crane Aerospace & Electronics
Hartzell Engine Technologies LLC
Nabtesco Corporation

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Questions Addressed in this Study

1.What factors are driving the Aircraft Electrical Systems Market growth?

2.How is the Aircraft Electrical Systems Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Aircraft Electrical Systems Market?

4.What is the current size of the Aircraft Electrical Systems Market, and how is it projected to change in the future?

5.What is the future outlook for the Aircraft Electrical Systems Market in terms of technological advancements and market expansion?

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.