Drivers and Trends Benefits Aircraft Electrical Systems Market to Grow at 7.9% CAGR, projected to Reach USD 28.5 Billion by 2030

 


Introduction

The Global Aircraft Electrical Systems Market is experiencing a dynamic shift, driven by technological advancements, evolving consumer preferences, and changing economic landscapes. This market has become a focal point for stakeholders, including manufacturers, suppliers, and investors, who are keen on exploring growth opportunities in this evolving industry. As businesses strive to adapt to these changes, understanding the market's key drivers, segmentation, and regional dynamics becomes crucial. This blog provides an in-depth analysis of the Aircraft Electrical Systems Market, examining the market overview, dynamics, segment analysis, and regional projections.

Market Overview

The Global Aircraft Electrical Systems Market size was valued at around USD 17.5 billion in 2023 and is projected to reach USD 28.5 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7.9% during the forecast period, i.e., 2024-30. The focus on reliability and security, rising spending by many nations to bolster their aerial defense, a shift toward More Electric Aircraft (MEA), rising air travel demand, growing use of unmanned aerial vehicles (UAVs), strict environmental regulations, etc. are some of the major factors driving the growth of the Aircraft Electrical Systems Market.

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Aircraft Electrical Systems Market Dynamics

Several dynamics are shaping the Aircraft Electrical Systems Market. On the demand side, the growing consumer focus on quality and sustainability is driving the need for advanced solutions. On the supply side, market players are intensifying competition by launching innovative products and expanding their geographic presence.

Global Aircraft Electrical Systems Market Driver:

Inclination Toward More Electric Technology to Optimize Overall Aircraft Performance – The shift toward more electric technology is, in fact, one of the main forces behind the aircraft electrical systems market. In many aircraft tasks, this trend is typified by a move away from conventional pneumatic and hydraulic systems and toward electrical alternatives. The rising use of electric technology in aircraft is a result of several variables, all of which have a major impact on the growth and development of aircraft electrical systems.

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Aircraft Electrical Systems Market Segment Analysis

The Aircraft Electrical Systems Market is segmented based on:

By Components

  • Generators- Market Size & Forecast 2019-2030F, USD Million
  • Conversion Devices- Market Size & Forecast 2019-2030F, USD Million
  • Distribution Devices- Market Size & Forecast 2019-2030F, USD Million
  • Battery Management Systems- Market Size & Forecast 2019-2030F, USD Million

By Systems- Market Size & Forecast 2019-2030F, USD Million

  • Power Generation- Market Size & Forecast 2019-2030F, USD Million
  • Power Distribution- Market Size & Forecast 2019-2030F, USD Million
  • Power Conversion- Market Size & Forecast 2019-2030F, USD Million
  • Energy Storage- Market Size & Forecast 2019-2030F, USD Million

By Platform- Market Size & Forecast 2019-2030F, USD Million

  • Commercial Aviation- Market Size & Forecast 2019-2030F, USD Million
  • Military Aviation- Market Size & Forecast 2019-2030F, USD Million
  • Business & General Aviation- Market Size & Forecast 2019-2030F, USD Million

By End User- Market Size & Forecast 2019-2030F, USD Million

  • OEM- Market Size & Forecast 2019-2030F, USD Million
  • Aftermarket- Market Size & Forecast 2019-2030F, USD Million

By Application- Market Size & Forecast 2019-2030F, USD Million

  • Power Generation Management- Market Size & Forecast 2019-2030F, USD Million
  • Flight Control & Operation- Market Size & Forecast 2019-2030F, USD Million
  • Cabin Systems- Market Size & Forecast 2019-2030F, USD Million
  • Configuration Management- Market Size & Forecast 2019-2030F, USD Million
  • Air Pressurization & Conditioning- Market Size & Forecast 2019-2030F, USD Million

By Region

  • North America
  • South America
  • Europe
  • The Middle East & Africa
  • Asia-Pacific

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Key Players in the Market

Several key players dominate the Aircraft Electrical Systems market, each striving to capture a larger share through product innovation, strategic partnerships, and expansion. Leading players include:

  • Ametek, Inc.
  • Safran
  • Astronics Corporation
  • Amphenol Corporation
  • PBS Aerospace
  • Honeywell International Inc.
  • Meggitt Plc
  • Thales Group
  • Others

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