Aircraft Electrical Systems Market to Witness a Handsome Growth during 2021– 2026

February 16, 2022

Stratview Research has recently added a new report titled ‘Aircraft Electrical Systems 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 Systems Market.

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

• History Year: 2017-2021

• Forecast Year: 2021 to 2026

The key players covered in this report are –

• Safran Group
• Collins Aerospace (Raytheon Technologies Corporation)
• Honeywell International Inc.
• GE Aviation
• AMETEK.Inc.
• Thales Group
• Skurka Aerospace, Inc
• Crane Aerospace & Electronics
• Astronics Corporation
• Meggitt PLC

Market Highlights

The aircraft electrical systems market witnessed a colossal decline of over 20%+ in 2020, quite aligned with the decline in other crucial systems used in an aircraft. The market has already started showing some signs of recovery from 2021 onwards with the recovery, particularly in the narrow-body aircraft segment. In the long run, it is anticipated that the aircraft electrical systems market is likely to rebound at a promising CAGR of 8.1% during 2021-2026 to reach a value of US$ 3.9 Billion by 2026. Segment-wise analysis

Based on the system type, the aircraft electrical systems market is classified as power generation systems, power distribution systems, power conversion systems, and power storage systems. Among different electrical systems, power generation system is expected to remain the largest and the fastest-growing segment of the market during the forecast period, owing to the reason that they are the primary source of electrical power in an aircraft. In addition to that, the development of high-thrust aircraft engines, an increase in the demand for greater efficiency, and the development of highly integrated electrical power generation systems are expected to drive the growth during the forecast period.

Based on the aircraft type, the market is segmented as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV.  Commercial aircraft is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period. Commercial aircraft registered an enormous decline in the year 2020 factored by struggling industry paired with the pandemic’s impact. Now, it is anticipated that the aircraft type will mark excellent growth in order to heal up the lossed endured during 2020, leading to extraordinary growth in the near future. Upcoming aircraft programs, such as C919 and MC-21, are likely to give an additional impetus to the demand for electrical systems in the coming years.

In terms of regions, North America is expected to remain the largest market for aircraft electrical systems during the forecast period. This region is home to a large number of aircraft industry stakeholders. Most of the major players are either headquartered in the region or have a manufacturing base in the region to serve the huge demand.

Europe, on the other hand, is the second-largest market after North America. The region is the home of Airbus stakeholders. Airbus has already revealed their plans for rapidly increasing the production rates of their key aircraft programs in the near future, asserting the entire’s region recovery trajectory in the near future.

Asia-Pacific remains the hotspot of the aerospace industry about all the systems/components. All the leading OEMs and tier players have already moved into some of the preferred locations, especially in China, India, and Japan, for manufacturing/assembly of parts/systems/aircraft. Furthermore, huge efforts exerted by Chinese, Indian, and Japanese conglomerates about the development of aircraft indigenously further blossom the demand for electrical systems in the coming years.

 To get more details about this report, order a sample report here:

https://www.stratviewresearch.com/Request-Sample/2334/aircraft-electrical-systems-market.html#form

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

Stratview Research is a global market research firm with capabilities of providing complex market reports and other consulting services. Along with market reports, the firm also provides custom research services across the sectors covering industries like Energy Chemicals, Advanced Materials, Automotive, and Aerospace, and more.

In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

Author : Meha Prasad