Aircraft Electrical Systems Market Forecasts to 2030 - Global Analysis By Component, System, Aircraft Type, Technology, Application, End User and by Geography

According to Stratistics MRC, the Global Aircraft Electrical Systems Market is accounted for $19.79 billion in 2024 and is expected to reach $31.75 billion by 2030 growing at a CAGR of 8.2% during the forecast period. Due to their ability to guarantee the correct operation of numerous crucial components, aircraft electrical systems are necessary for the safe and effective operation of contemporary aircraft. These systems produce, disperse, and control the electricity required to run avionics, lighting, communication, and navigational devices. Batteries, alternators or generators, and control panels that manage voltage and current are the usual components of aircraft electrical systems.

According to the Federal Aviation Administration (FAA), maintaining the integrity of aircraft electrical systems is crucial for ensuring flight safety and operational efficiency.

Market Dynamics:

Driver:

Emphasis on sustainability and fuel economy

Increased fuel efficiency and decreased environmental impact are demands placed on the aviation sector. In order to develop new propulsion technologies that promise lower fuel consumption and emissions like electric and hybrid-electric engines electric systems are essential. Moreover, there is an increasing need for sophisticated electrical systems to support these innovations as manufacturers and airlines make investments in environmentally friendly technologies and work to comply with global environmental regulations.

Restraint:

Exorbitant development and upkeep expenses

Large sums of money must be invested in the development, design, and maintenance of aviation electrical systems. These systems can be expensive due to the sophisticated materials and technology needed. The requirement for specialized personnel and continuous maintenance are other factors that raise operating costs. Additionally, smaller producers or operators may find it difficult to invest in cutting-edge electrical systems as a result of these difficulties.

Opportunity:

Developments in hybrid and electric aircraft

The market for aircraft electrical systems is expected to grow significantly with the development of electric and hybrid-electric aircraft. These cutting-edge aircraft greatly rely on sophisticated electrical systems for energy management, propulsion, and the incorporation of new technologies. Furthermore, there is an increasing opportunity for businesses to supply and develop electrical systems suited to these cutting-edge technologies as the aviation industry shifts towards more environmentally friendly and energy-efficient solutions.

Threat:

Cybersecurity and technological risks

Aircraft electrical systems are more susceptible to cybersecurity attacks and technological hazards as they become more sophisticated and networked. Aircraft systems are vulnerable to cyber attacks that compromise operational integrity and safety. Moreover, systems can easily become outdated due to the speed at which technology is developing, necessitating continuous investment in R&D to stay ahead of possible threats.

Covid-19 Impact:

Due to the sharp drop in air travel worldwide and the grounding of numerous aircraft, the COVID-19 pandemic had a significant effect on the aircraft electrical systems market. This resulted in a decrease in demand for new aircraft as well as a delay in maintenance and upgrades. The financial strain on the aviation sector led to a reduction in investments in new technologies and retrofitting projects. Furthermore, compounding the difficulties facing the market was manufacturing delays and supply chain disruptions that impacted the availability of essential components.

The Power Generators segment is expected to be the largest during the forecast period

The power generator segment holds the largest share in the aircraft electrical systems market. Power generators are essential because they supply the main electrical power required to run an aircraft's various systems. These generators provide the necessary power for avionics, lighting, and other vital components, guaranteeing the dependability and effectiveness of the aircraft's electrical system. Moreover, their commanding market position is a reflection of their essential function in aviation operations, where reliable and steady power generation is essential to both performance and safety.

The Cabin System segment is expected to have the highest CAGR during the forecast period

The cabin system segment holds the highest CAGR in the aircraft electrical systems market. Due to rising passenger expectations for improved comfort and cutting-edge amenities, this market is expanding quickly. Sophisticated lighting, climate control, and in-flight entertainment technologies are all included in modern cabin systems, which greatly enhance the traveller experience. The high growth rate is being driven by the significant investments made by airlines in these systems to set themselves apart from competitors and increase customer happiness.

Region with largest share:

North America has the largest market share in the aircraft electrical systems industry. The region's robust aerospace industry, which is marked by a high concentration of significant aircraft manufacturers, defense contractors, and a strong network of suppliers, is largely responsible for its dominance. North America's notable presence in the market is further reinforced by its leadership in technological innovation and large investments in the commercial and military aviation sectors. Furthermore, the area's leading position is further supported by its sophisticated infrastructure and dedication to maintaining and modernizing aircraft fleets.

Region with highest CAGR:

In the aircraft electrical systems market, the Middle East and Africa region is growing at the highest CAGR. The region's growing aviation industry is the main driver of this growth, with large investments being made in modernizing the fleet and building cutting-edge airport infrastructure. Advanced aircraft electrical systems are becoming more and more in demand due to the Middle East and Africa's strategic significance as a global transit hub as well as the growing focus on improving passenger comfort and operational efficiency.

Key players in the market

Some of the key players in Aircraft Electrical Systems market include Safran SA, Honeywell International Inc., GE Aviation, Astronics Corporation, Collins Aersopace, Esterline Technologies, Ametek, Inc., Thales Group, Crane Aerospace & Electronics, United Technologies Corporation (Collins Aerospace), Hartzell Engine Technologies LLC, PBS Aerospace Inc, Amphenol Corporation, Raytheon Technologies Corporation, Nabtesco Corporation, Meggitt PLC and Parker Hannifin Corp.

Key Developments:

In March 2024, GE Aerospace announced it has reached agreement with Ethiopian Airlines for 16 GE9X engines to power the airline's new fleet of Boeing 777X aircraft, becoming the first GE9X customer in Africa. GE Aerospace is honored to power Ethiopian Airlines' new Boeing 777X fleet with our latest generation technology GE9X engine, said Russell Stokes, President and CEO, Commercial Engines and Service, GE Aerospace.

In March 2024, Safran Aircraft Engines and the Qatar Armed Forces signed a Services Agreement to support M88 engines powering Qatar's current fleet of 36 Rafale fighter aircraft. This Services Agreement provides the Qatar Armed Forces with a wide range of services, from spares, repairs and overhauls to detailed technical on-site support, optimizing maintenance operations with the customer.

In November 2023, Honeywell announced two agreements during the Dubai Airshow that will expand the company's support network in the Middle East and North Africa. The 10-year deal with Saudia Technic covers a global license to service the 331-500 auxiliary power unit installed in the Boeing 777. The full-service MRO organization will become Honeywell's first authorized service center in the Middle East for the 777's APU.

Components Covered:

• Battery Management Systems
• Conversion Devices
• Distribution Devices
• Power Generators
• Other Components

Systems Covered:

• Power Generation
• Power Distribution
• Power Conversion
• Energy Storage

Aircraft Types Covered:

• Fixed-Wing
• Rotary Wing
• Other Aircraft Types

Technologies Covered:

• Conventional
• Electric
• Other Technologies

Applications Covered:

• Power Generation Management
• Flight Control & Operation
• Cabin System
• Configuration Management
• Air Pressurization & Conditioning
• Other Applications

End Users Covered:

• Original Equipment Manufacturer (OEM)
• Maintenance, Repair and Overhaul (MRO)
• Aftermarket
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances