Northrook, IL -- (SBWIRE) -- 03/12/2020 -- The aircraft electrical systems market is projected to grow from USD 29.9 billion in 2017 to USD 41.7 billion by 2025, at a CAGR of 5.67% during the forecast period from 2017 to 2025.

This report covers the forecast of the aircraft electrical systems market and its dynamics over the next five years, while also recognizing the application gaps and recent developments in the aircraft electrical systems market, along with the identification of high potential countries. Advancement in high density battery solutions for electric aircraft and optimized aircraft performance through the use of more electric technology are the major factor that is expected to drive the aircraft electrical systems market in the coming years.

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Increasing aircraft fleet size is one of the most significant fueling the growth of aftermarket

Based on end user, the aircraft electrical systems market has been segmented into OEM and aftermarket. Aftermarket companies primarily perform the function of service, maintenance, and upgrade of aircraft electrical systems, such as generators, conversion devices, distribution devices, battery management systems, ram air turbine units, which are being replaced during maintenance procedures. Increasing aircraft fleet size is one of the most significant factors contributing to the demand for aircraft retrofit parts, thereby driving the growth of the aftermarket segment.

Increasing demand for more electric architecture aircraft fueling the growth of the power generation segment

By systems market, aircraft electrical systems market has been segmented into power generation, Power Distribution, Power Conversion, and Energy Storage. Power generation segment is expected to lead the market during the forecast period. In an aircraft, power is generated with the support of engine generators, which include integrated drive generator, variable frequency generator, auxiliary power unit, and external ground power unit. While landing and takeoff, an aircraft requires maximum power. In conventional aircraft, power is generated using mechanical hydraulic and pneumatic systems; while in advanced aircraft, power is generated by the electric generator. Key aircraft manufacturers prefer integrated drive generators over the variable frequency generators in wide body aircraft and very large aircraft, as variable frequency generators are more reliable and efficient.

Key market players are developing advanced generators that provide advanced performance, reduced maintenance, and lower costs of operation

By component, the aircraft electrical systems market has been segmented into generators, conversion devices, distribution devices, battery management systems, and others. Among these, the generators segment is expected to lead in the market during the forecast period. Generators are primary sources of electrical power. They convert mechanical energy into electrical energy and are found in light aircraft. They are also driven by the engine by means of a belt arrangement. An aircraft with a generator uses battery power at low engine RPM. Nowadays, in most aircraft, alternators are used as a replacement for generators. The main shortcoming of a generator is that it always requires a control circuit to maintain the correct voltage and electrical conditions of the aircraft.

High investments for passenger comfort is a major factor driving the cabin system segment

Based on application, the aircraft electrical systems market has been segmented into power generation management, flight control & operation, cabin system, configuration management, and air pressurization & conditioning. Under this segment, cabin systems is projected to grow at the highest CAGR during the forecast period. The cabin system includes cabin functions such as lighting, galleys, inflight entertainment systems & connectivity, cabin quietness, cabin functions, and crew comfort. These functions derive energy from the aircraft's electrical system. In conventional aircraft, all these functions are carried out using engine-bleed air.

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North America was the largest market for aircraft electrical systems in 2016

North America led the aircraft electrical systems market in 2019. The North America aircraft electrical systems market has been studied for the U.S. and Canada. Huge investments in the research and development of more electric aircraft and increasing demand for fuel efficient and low maintenance aircraft are factors driving the market in this region.

Key Players:

SAAB AB (Sweden), Honeywell (US), United Technologies Corporation (US), GE Aviation, , Thales Group (France), Ametek (US), Astronics Corporation (US) , Esterline Technologies Corporation (US), Meggitt (UK) , PBS aerospace(US) , Nabtesco Corporation(Japan) , Avionic Instruments, LLC(US), Crane aerospace & electronics (US) are expected to lead the aircraft electrical systems market during the forecast period.

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