Press Release

Aircraft Electrical Systems Market Value to Reach USD 28.5 Billion by 2030

The Global Aircraft Electrical Systems Market size was valued at around USD 17.5 billion in 2023 and is projected to reach USD 28.5 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 7.9% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The market growth attributes to the increasing advancements in the airline network, coupled with rapidly increasing air traffic due to the rising number of air travelers.

In addition, the burgeoning adoption of Unmanned Aerial Vehicles (UAVs) & drones for both civil & military purposes also drives the market through 2030. Besides, substantial investments by leading players in various R&D programs and the transformation of conventional electrical systems to electrically driven systems are other crucial aspects likely to augment the overall aircraft electrical systems market growth in the coming years.

Aircraft Electrical Systems Market Segmentation Analysis

Generators to Dominate the Market with the Largest Share

In the Global Aircraft Electrical Systems Market, the generators segment stands as a dominant force, holding the largest market share. This leadership is expected to continue during the forecast period, driven by the essential role generators play in converting mechanical energy—typically sourced from aircraft engines—into electrical power. This power is then distributed across the aircraft, ensuring the operation of critical systems such as avionics, lighting, entertainment, and flight controls, underscoring the segment's vital importance in the aircraft electrical system industry.

Moreover, modern aircraft increasingly rely on integrated power systems that combine generators, distribution networks, and other components to work harmoniously. This integrated approach enhances overall efficiency and optimizes the aircraft's electrical power management. Additionally, there is a growing demand for generators that reduce emissions and improve fuel efficiency, reflecting the airline industry's heightened focus on environmental sustainability. These efficient generators not only support the aircraft's eco-friendly operation but also ensure compliance with stringent environmental regulations.

North America to Rule the Global Aircraft Electrical System Market During 2024-30

Massive investments by leading players & governments in various R&D activities and the rising demand for fuel-efficient & low-maintenance aircraft in North America are the prime aspects projected to drive the regional market. Moreover, the soaring expenditure in the defense sector to enhance the domestic airline network, coupled with the burgeoning number of passengers traveling across the US & Canada, are expected to increase the air traffic and, in turn, fuel the overall market growth across North America in the coming years.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Ametek, Inc., Safran, Astronics Corporation, Amphenol Corporation, PBS Aerospace, Honeywell International Inc., Meggitt Plc, Thales Group, United Technologies Corporation, General Electric, RTX Corporation, Acme Aerospace Inc. & Avionic Instruments LLC, Crane Aerospace & Electronics, Hartzell Engine Technologies LLC, Nabtesco Corporation, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?