The changing dynamics in Aircraft Ignition System Market with covid-19 impact assessment.
June 08, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Aircraft Ignition System Market.
It was estimated prior to this unanticipated outbreak that the Aircraft Ignition System Market was likely to witness an impressive CAGR of 6.2% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate. Factors such as growing acceptance of electronic ignition systems and technological progressions in the aircraft ignition systems are bolstering the growth of the global market.
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Aircraft Ignition System Market Segment Insights:
By End-User Type:
The aftermarket segment dominated the market in 2019, and is estimated to maintain its legacy during the forecast period. The aftermarket comprises substitution of parts and maintenance services for installed components. Different components of aircraft ignition systems, such as ignitors, ignition leads, exciters, spark plugs, distributors, capacitors, and switches are changed during the maintenance procedures, which in turn, underpins the growth of the segment during the forecast period.
By System Type:
The electronic ignition system segment led the market in 2019, and is likely to command during the forecast period as well. Technological developments in the arena of aircraft ignition systems have significantly influenced the evolution of electronic ignition systems that are dependable and bear an extended lifespan against the conventional ignition systems employed in the aircraft, such as Lycoming Piston Engine Solid State Ignition System, CH42PR20A.
By Component Type:
The ignition leads segment is estimated to register the highest growth during the forecast period.
By Region:
North America dominated the aircraft ignition system market in 2019, and is expected to govern the market during the forecast period. The regional presence of numerous leading manufacturers, such as Woodward, Unison, TransDigm, Air Power Inc., and ElectroAir is bolstering the growth of the market for aircraft ignition system during the forecast period. Europe and Asia-Pacific are also expected to offer substantial growth opportunities in the coming five years.
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Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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