The global aircraft electrical system market size is expected to reach USD 28.32 billion by 2028 according to a new study by Polaris Market Research. The report “Aircraft Electrical System Market Share, Size, Trends, Industry Analysis Report, By Aircraft Type (Narrow-body, Wide-body, Regional, General Aviation, Helicopter, Military); By System; By Component; By Application; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The aircraft industry has been increasingly adopting power electronic products embedded in its key application areas, which are one of the main driving factors for electrical products in the global market. The trend of the switch from conventional pneumatic and hydraulic to electrical systems is further driving the market growth.
Modern aircraft programs have high-power engines with enhanced thrust and electronic integration for smooth control and operations of different airplane. Additionally, increasing penetration of IFE (In-Flight Entertainment) and IoT (Internet of Things) in modern airplane programs is also fueling the market growth.
Among system types, power generation holds huge dominance and offers significant growth opportunities in the global market. Modern airplane platforms demand higher frequency and high voltage switching with growing power needs, thereby fueling the market of power generation segment. Growing power demand facilitates efficient electric products with enhanced arc fault detection and highly reliable generator systems.
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Market participants such Acme Aerospace Inc. & Avionic Instruments, LLC, AMETEK Inc., Amphenol Corporation, Astronics Corporation, BAE Systems, Carlisle Interconnect Technologies, Collins Aerospace, Crane Aerospace & Electronics, Delorean Aerospace LLC, EaglePicher Technologies, Esterline Technologies, GE Aviation, Hartzell Engine Technologies LLC, Honeywell International, Meggitt plc, PBS AEROSPACE, Pioneer Magnetics, Radiant Power Corp, Safran SA, Thales Group are some of the key players competing in the global market.
Leading players serving the market are working on improving more efficient designs of electric products with enhanced efficiency. In Aug 2021, Microchip Technology Inc. announced the development of the power modules family (BL1, BL2, and BL3), providing greater efficiency within power conversion and generation, supporting the trend of electrification in the airplane industry.
Polaris Market Research has segmented the aircraft electrical system market report on the basis of aircraft, system, component, application, and region:
Aircraft Electrical System, Aircraft Outlook (Revenue–USD Billion, 2016 - 2028)
Aircraft Electrical System, System Outlook (Revenue - USD Billion, 2016 - 2028)
Aircraft Electrical System, Component Outlook (Revenue - USD Billion, 2016 - 2028)
Aircraft Electrical System, Application Outlook (Revenue - USD Billion, 2016 - 2028)
Aircraft Electrical System, Regional Outlook (Revenue - USD Billion, 2016 - 2028)