According to Market Study Report, Aircraft Electrical Systems Market provides a comprehensive analysis of the Aircraft Electrical Systems Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape and emerging opportunities of global industry. This report also provides market landscape and market share information in the Aircraft Electrical Systems Market. An exclusive data offered in this report is collected by research and industry experts team.
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The Aircraft Electrical Systems Market size is projected to grow from USD 19,344 Million in 2020 to USD 37,265 Million by 2030, at a CAGR of 6.8% during the forecast period.
Top Companies Profiled in the Aircraft Electrical Systems Market:
- AMETEK (US)
- Safran (France)
- Astronics Corporation (US)
- Amphenol Corporation (US)
- Esterline Technologies (US)
- Honeywell (US)
- Meggitt (UK)
- Thales Group (France)
- United Technologies Corporation (US)
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COVID-19 pandemic has led to major economic problems and challenges that aviation industry has to face. Since the beginning of the outbreak, the civil aviation industry has been among the most severely hit sectors globally. Also, legal and trade restrictions, such as sealed borders, increase the shortage of required parts. Such disruption in the supply chain is expected to affect the assembly of OEMs across the world.
“Power generation management segment is projected to grow at the highest CAGR during the forecast period”
The power generation management segment is expected to be the fastest-growing application segment during the forecast period. The aircraft electrical system is one of the major driving forces in electric generation in aircraft. With the growing aircraft electrical system power levels, the diversity of the power generation types is increasing as well.
“Commercial aviation segment is expected to account for the largest market share in 2020”
By platform, the commercial aviation segment is estimated to account for the largest market share in 2020. Strong growth in this sector has resulted in an increased number of aircraft orders to address the increasing air passenger traffic. An increase in the application scope of electric due to the aforementioned factors is expected to propel the aircraft electrical systems market growth during the forecast period.
Breakdown of primary participants’ profile:
- By Company Type: Tier 1: 30%, Tier 2: 40%, and Tier 3: 30%
- By Designation: C-level Executives: 50%, Directors: 30%, and Others 20%
- By Region: North America: 57%, Europe: 19%, APAC: 19%, and RoW: 2%, MEA: 5%