Latest News- Aircraft Electrical Systems Market: Commercial aviation is expected to lead the Platform segment during 2024-2028

The Aircraft Electrical Systems Market is being driven by Growing demand for commercial aircraft

The Aircraft Electrical Systems Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4550 million. Collins Aerospace, a subsidiary of Raytheon Technologies, has achieved a significant milestone in the aviation industry by completing a critical design review and initiating fabrication of a 500-kilowatt electric motor for the Airlander 10 aircraft. This development, undertaken in collaboration with Hybrid Air Vehicles and the University of Nottingham, is part of an ambitious plan to introduce hybrid-electric and all-electric, zero-emission aircraft operations by 2025 and 2030, respectively. Simultaneously, NASA has awarded contracts to two American companies to develop electric propulsion technologies for aviation, with a goal to integrate this technology into US aviation fleets by 2035, as part of their Electric Powertrain Flight Demonstration (EPFD) program, worth a combined USD253 million. 

Get more information on Aircraft Electrical Systems Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Platform
  • Commercial aviation
  • Military aviation
  • Business and general aviation
• System Type
  • Power Generation
  • Power Distribution
  • Power Conversion
  • Energy Storage
• Application Type
  • Cabin Systems
  • Flight Control Systems
  • Avionics
  • Lighting
• Technology
  • Conventional Electrical Systems
  • More Electric Aircraft (MEA)
  • Hybrid Systems
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • France
  • APAC
    • China
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for commercial aircraft
• Focus on electric planes
• Continued investments and partnerships

However, the market also witnesses some limitations, which are as follows:

• Impact of COVID-19 on the aviation industry
• Technical constraints
• Protectionist trade policies and supply chain constraints

Benefits of Buying Global Aircraft Electrical Systems Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Aircraft Electrical Systems Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The Aircraft Electrical Systems Market encompasses various components including solid-state power supplies, high-voltage and low-voltage systems, sensor and actuator technology, system integration, software defined avionics, and embedded systems. Safety assessment and certification processes are crucial, along with supply chain management, quality control, testing, and inspection. Warranty support, technology upgrades, modification kits, and obsolescence management are essential for maintaining aircraft electrical systems. Sustainable aviation focuses on lightweight materials, energy storage through fuel cells and batteries, and innovative propulsion systems like hybrid electric and electric propulsion.

Market Research Overview

The Aircraft Electrical Systems Market is a significant segment of the global aerospace and defense industry, which comprises companies involved in the production of aerial platforms and their related MRO activities. This market encompasses essential components such as dc-dc converters, power distribution systems, wiring harnesses, circuit breakers, fuse boxes, load management systems, and power monitoring devices. These components play a crucial role in ensuring the efficient and reliable operation of aircraft electrical systems. The global aerospace and defense market's capital goods sector, which includes the manufacturers and providers of these components, is a substantial contributor to the industry's overall size. According to Technavio, this market's size is determined by the combined revenue generated from industries such as aerospace and defense, electrical equipment, and machinery.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/