Aircraft Electrical Solid-State Power Controller (SSPC) Market is Expected to Register a Considerable Growth by 2027

February 16, 2022

Stratview Research has recently added a new report titled ‘Aircraft Electrical Solid-State Power Controller (SSPC) Market’ to its collection. The report studies vital factors about the market that are essential for existing players as well as new market entrants. The report throws light on the critical elements such as market share, profitability, supply chain, production, sales, upcoming technologies, key market players, regional segmentation, and many more aspects related to the Aircraft Electrical Solid-State Power Controller (SSPC) Market.

The years considered in this report to estimate the market size of the market are:

• History Year: 2018-2022

• Forecast Year: 2022 to 2027

The key players covered in this report are –

• GE Aviation
• Safran Group
• Collins Aerospace (Raytheon Technologies Corporation)
• TransDigm Group, Inc.

Market Highlights

The market declined over 20% in the year 2020, mainly due to the COVID-19 paired with delays in the approval of the B737Max.

The emergence of COVID variants is affecting the recovery trajectory of the aviation industry including its parts and systems. It is estimated that the air passenger volume will not be at par with the volume level of the pre-COVID period anytime before 2024, leaving a reciprocal impact across the supply chain. The market for aircraft electrical SSPCs is likely to follow a faster recovery trajectory than the entire electrical systems in the wake of a paradigm shift from contractors to SSPCs. Overall, the aircraft electrical SSPC market is likely to grow at a significant CAGR of 9.3% in the long run to reach a value of US$ 783.9 Million in 2027.

Segment-wise analysis

Based on the phase-type, the aircraft electrical SSPC market is classified as single-phase and three-phase systems. Between system types, three-phase system is expected to remain the dominant segment of the market during the forecast period as these systems require less assembly time and can transmit more power at a lower cost.

Similarly, based on the aircraft type, the market is segmented as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Among these aircraft types, commercial aircraft is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period. Commercial aircraft has been under immense pressure due to several setbacks including the grounding of B737Max in 2019 followed by the onset of the pandemic

Despite short-term market challenges, it is estimated that the long-term demand remains sustainable. Boeing, in its outlook 2021-2040, estimates that 43,610 commercial and regional aircraft are likely to be delivered in the next 20 years, assuring a healthy demand in the years to come. General Aviation and military aircraft are other market segments that are likely to generate sizeable demand for SSPCs in the years to come.

In terms of regions, North America is expected to remain the largest market for aircraft electrical SSPCs during the forecast period. This is primarily due to the large usage of aircraft for regional, commercial, as well as military applications in the region. Moreover, the regional investments in military aircraft (fighter aircraft and helicopters) are the largest across the globe. Concurrently, Asia-Pacific is also likely to create significant market opportunities in the upcoming years, driven by the expected rebound in air passenger traffic paired with the opening of assembly plants in the region, mainly in China, Japan, and India.

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The main steps in the investigation process are:

• Stratview Research has gathered the raw data from industry experts and direct research analysts using primary and secondary sources.
• The experts also classify the information obtained by qualitative and quantitative data to place it in a proper way to make final conclusions.
• This report also provides market intelligence and throws light on critical insights into the market dynamics.

The information gathered in the report enables strategic decision making for the existing players as well as those willing to enter the market. The report contains growth drivers and constraints, market trend and forecast analysis, market segment trend, competitive landscape and dynamics, attractive market segments and associated growth opportunities, etc.

About Stratview Research

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Author : Meha Prasad