Global Aircraft Electrical Systems Market Is Expected to Reach USD 32.61 Billion by 2027 : Fior Markets

Newark, NJ, Aug. 24, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global aircraft electrical systems market is expected to grow from USD 19.27 billion in 2019 and to reach USD 32.61 billion by 2027, growing at a CAGR of 6.80% during the forecast period 2020-2027.

Aircraft electrical systems refer to the utilization of more electric technology to power most non-propulsive systems in an aircraft. Electric architecture is driving the growth of the market due to power-optimization, which results in higher performance efficiency along with lesser power consumption. Also, a reduction in the weight of the aircraft increases fuel efficiency. The aircraft electrical system eliminates the requirement for hydraulic reservoirs. Manufacturers are emphasizing on enhancing efficiency by replacing hydraulically controlled systems. It is due to certain disadvantages of hydraulically controlled systems such as potential leakage of corrosive fluids, low efficiency in converting fuel to energy, and high risk of fire. Hence, the optimization of aircraft performance is driving the growth of the market. Technological advancements in electronic and electric aircraft technologies offer better opportunities to the manufacturers. Technologies such as power electronics, distributed architectures, and complex embedded digital systems are creating opportunities in the market. Moreover, a rise in the utilization of switching power devices and programmable solid-state devices in place of traditional electromechanical circuit breaker technology is expected to offer additional benefits. It has a broader range of benefits in diagnostic health monitoring, fault isolation, load management. It also enhances flexibility to accommodate system upgrades and modifications.

The electrical system has an important role in the aircraft. It is a network of components that distribute, generate, store, and utilize electrical energy. The output power of the electrical system from the generators is modified through invertors, transformers, and rectifiers in order to change the voltage as well as current levels. The output power of the electrical system can also be utilized without modification. The charging of the aircraft battery is carried out by the generators. Batteries used in the electrical system has a wide range of varieties such as lithium-ion, nickel-cadmium, and lead-acid batteries. Multiple engines have multiple voltage systems and a combination of DC and AC buses to power, having more sophisticated electrical systems.

Manufacturers are facing challenges related to power efficiency and density due to the miniaturization of power conversion equipment. Heat removal techniques are used in order to reduce the size. It results in increased cost of an aircraft electrical system as the heat removal techniques are expensive. Manufacturers are facing challenges regarding introducing high-frequency switch-mode power supplies as well as replacing traditional methods for aircraft in order to reduce the weight and size of the system while enhancing efficiency.

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Key players operating in the global aircraft electrical systems market include Thales Group, T.E Connectivity, Boeing, Eaton, Zenith Aircraft, Flame Enterprises Incorporated, UTC Aerospace System, Zodiac Aerospace, Aircraft Spruce, Safran Electrical and Power, Astronics Corporation and Esterline Control Systems. To gain a significant market share in the global aircraft electrical systems market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

In February 2019, the contract was made between Safran and AVIC. The contract was created in order to offer auxiliary electrical generation system for a regional turboprop aircraft known as MA700.
In April 2018, the agreement was made between AMETEK and AAR. The agreement was done in order to offer primary and secondary power distribution, generator control units, starter generators, and power distribution units for a helicopter, regional transport aircraft, and commercial aircraft.

Generators segment dominated the market and held the largest market share of 28.35% in the year 2019
The component segment includes battery management systems, distribution devices, conversion devices, and generators. Generators segment held the largest market share of 28.35% in the year 2019. Advanced turbo generators consist of cooling turbine technology having simple-cycle magnetic bearing as well as electrical power generation. Generators offer electrical power and liquid cooling in order to implement advanced radar systems, mainly in military aircraft. Hence, such factors are generating higher growth for the segment.

The commercial aviation segment dominated the market and valued at USD 6.98 billion in the year 2019
The platform segment includes business & general aviation, military aviation, and commercial aviation. The commercial aviation segment dominated the market and valued at USD 6.98 billion in the year 2019. This was because of the factors such as increased tourism and international trade, which resulted in a rise in the number of aircraft orders in order to cater to the increasing air passenger traffic.

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Regional Segment Analysis of the aircraft electrical systems market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)

On the basis of geography, the global aircraft electrical systems market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America is expected to show the largest share in the aircraft electrical systems over the forecast period. The driving factor in the growth of the market is an increased demand for low maintenance aircraft in the region. Technological advancements in the region have enabled no-bleed systems in the Boeing 787 Dreamliner. It is beneficial in eliminating bleed manifold and traditional pneumatic system that converts the power source to electric power.

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About the report:
The global aircraft electrical systems market is analyzed on the basis of value (USD Billion), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.

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