Industry Background:
Advancements in High-Density Battery Solutions for Electric Aircraft will help to boost global aircraft electrical system market in the forecasted period. An aircraft electrical system is a significant part of aircraft that has the capability to generate electricity. It is an independent network of components that generate, distribute, utilize, and store electrical energy .It is mainly driven by APU (auxiliary power unit) and a hydraulic motor or a RAT (Ram Air Turbine). Most aircraft are equipped with either a 28-volt- or a 14-volt direct current electrical system.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | AMETEK, Inc. (United States), Safran S.A. (France), Astronics Corporation (United States), Amphenol Corporation (United States), Esterline Technologies (United States), Honeywell Corporation (United States), Meggitt PLC (United Kingdom), Thales Group (France), United Technologies Corporation (United States) and Crane Aerospace & Electronics (United States) |
This growth is primarily driven by Upsurging Technological Advancements in Aircraft Based Electric Systems and Enhanced Aircraft Performance with The Increasing Uses of Electrical Energy.
Globally, a noticeable market trend is evident Introduction to High-Density Battery Solutions for Electric Aircraft
Major Manufacturers, such as AMETEK, Inc. (United States), Safran S.A. (France), Astronics Corporation (United States), Amphenol Corporation (United States), Esterline Technologies (United States), Honeywell Corporation (United States), Meggitt PLC (United Kingdom), Thales Group (France), United Technologies Corporation (United States) and Crane Aerospace & Electronics (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Aircraft Electrical System market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
In April 2018, AMETEK signed an agreement with AAR to provide power distribution units, starter generators, generator control units, primary and secondary power distribution for commercial aircraft, regional transport aircraft, and helicopter markets.
In February 2019, Safran signed a contract with AVIC to provide the main and auxiliary electrical generation system for MA700, a regional turboprop aircraft.
Influencing Trend:
Introduction to High-Density Battery Solutions for Electric Aircraft and Growing Adoption of No-Bleed Systems Aircraft Architecture and Hybrid Or Electric Propulsion System Design
Market Growth Drivers:
Upsurging Technological Advancements in Aircraft Based Electric Systems and Enhanced Aircraft Performance with The Increasing Uses of Electrical Energy
Challenges:
Negligible Manufacturing Tolerance and Numerous Manufacturing Complexities associated with Aircraft Electrical System
Restraints:
Higher Initial Investments in Manufacturing Aircraft Electric Systems and Significant Amount of Post Purchase Maintenance is Needed for Expensive Electric Systems
Opportunities:
Growing Use of Lightweight Wiring in Aircraft Electrical Systems and Introduction to Fuel Cell Technology, and Electric Actuation System
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Aircraft Electrical System Market
- Analysis about New Entrants in Aircraft Electrical System Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Aircraft Electrical System Study Sheds Light on
The Aircraft Electrical System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Aircraft Electrical System industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Aircraft Electrical System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.