Si prevede che le dimensioni del mercato globale Aircraft Electrical System raggiungeranno i 27,29 miliardi di dollari entro il 2027, con un CAGR del 5,83% durante il periodo di previsione. L’espansione dei budget per la difesa delle principali economie mondiali genererà opportunità senza precedenti per gli attori del mercato, sottolinea Fortune Business Insights™ nel suo rapporto. Con l’intensificarsi delle minacce alla sicurezza nazionale, negli ultimi dieci anni diversi paesi hanno aumentato la spesa per le forze armate. Lo Stockholm International Peace Research Institute (SIPRI), nel suo ultimo rapporto, ha rivelato che la spesa militare globale ha raggiunto i 1.917 miliardi di dollari nel 2019. Responsabili del 62% della spesa totale, sono emersi Stati Uniti, Cina, India, Russia e Arabia Saudita come i maggiori spender, come da dati SIPRI. Il miglioramento della spesa per le tecnologie di difesa sta consentendo ai paesi di rafforzare il proprio arsenale militare, navale e aereo. I sistemi elettrici degli aeromobili rappresentano un salto di qualità per l’aeronautica militare di un paese poiché questi sistemi consentono una gestione più efficiente di qualsiasi tipo di aeromobile e forniscono anche al pilota soluzioni avanzate per affrontare qualsiasi minaccia.

As per the report, the value of the global market was estimated to be USD 19.95 billion in 2019. The report also offers the following:

  • Granular analysis of the factors driving the growth of the market;
  • Piecemeal diagnosis of the different market segments;
  • Unmatched study of the regional prospects and competitive milieu of the market; and
  • Exhaustive assessment of the various challenges facing the market.

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Restraining Factor

Subdued Demand for Air Travel amid COVID-19 to Have Severe Repercussions for the Market

The COVID-19 pandemic has led to a severe downturn in the aviation industry as travel bans and fears of speeding up the spread of the virus have kept travellers away from airplanes and airports. According to a September 2020 report by the Airports Council International (ACI) World, air passenger traffic will decline by a staggering 58.4% year-on-year in 2020 because of the coronavirus. Furthermore, the International Civil Aviation Organization (ICAO) estimates that the number of air travellers will fall by 2,893 million in 2020, and by 1,261 million in the first half of 2021. The steep dip in passenger numbers has led to a potential loss of USD 391 billion to airlines in 2020 and will lead to revenue losses between USD 148 billion and 182 billion in the January-June 2021 time period, according to the ICAO. The sudden contraction in air travel will inevitably affect airline companies’ investment plans to upgrade their fleets with modern digital technologies. Consequently, the aircraft electrical system market growth will suffer.

Regional Insights

Robust Domestic Airline Network to Fuel the North America Market

North America, with a size of USD 8.41 billion in 2019, is expected to dominate the aircraft electrical system market share during the forecast period. The principal factor propelling the regional market is the existence of a strong and reliable domestic airline network across the US and Canada. In addition, high defense spending by the US government and quick adoption of modern aircraft technologies by the US and Canadian Air Forces will also accelerate the regional market growth.

In Europe, increasing adoption of next-generation power management systems for commercial aircraft by the UK and growing preference for lightweight airplanes in the region are anticipated to boost the market. On the other hand, the market in Asia Pacific will be driven by the escalating demand for air travel in India and China and the rapid expansion of the commercial airline industry in China.

Competitive Landscape

Introduction of Advanced Aircraft Electrical Solutions to Intensify Market Competition

A prominent feature of the market for aircraft electrical systems is the development and introduction of advanced, sophisticated solutions by key players. Through this strategy, companies are strengthening their portfolios and augmenting the prospects of the aviation industry.

Industry Developments:

  • November 2020: Carlisle Interconnect Technologies announced that it will be extending interconnect solutions for a vast array of next-gen air mobility applications. The company is known for its product lineup that ranges from specialty and filtered connections and integrated systems to advanced avionics and high-performance wire and cable.
  • August 2020: BAE Systems announced that it will be developing a series of power sources for small electric aircraft. The new power sources will replace the conventional aircraft engines and connect flight controls with energy and power management systems.

List of Key Companies Profiled in the Aircraft Electrical System Market Report:

  • United Technologies Corporation (The U.S.)
  • Safran (France)
  • Pioneer Magnetics (The U.S.)
  • Nabtesco Corporation (Japan)
  • Honeywell International Inc. (The U.S.)
  • GE Aviation (The U.S.)
  • Eaglepicher Technologies, LLC (The U.S.)
  • Carlisle Interconnect Technologies (The U.S.)
  • Avionic Instruments, LLC (The U.S.)
  • Amphenol Corporation (The U.S.)
  • Thales Group (France)
  • Radiant Power Corporation (The U.S.)
  • PBS Aerospace (The U.S.)
  • Meggitt (The U.K.)
  • Hartzell Engine Technologies (The U.S.)
  • Esterline Technologies (TRANSDIGM GROUP) (The U.S.)
  • Crane Aerospace & Electronics (The U.S.)
  • BAE Systems (The U.K.)
  • Astronics Corporation (The U.S.)
  • Ametek (The U.S.)

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