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Aircraft Electrical Systems Market 2020 By Regional Statistics & Growth Forecast to 2025
Aircraft Electrical Systems Market
Aircraft electrical systems market players are continuously investing in R&D for developing advanced aircraft electrical systems for improving efficiency and reduce loads in the batteries. Manufacturers are continuously developing the Transformer Rectifier Unit (TRU) technology, that enables for multiple voltage systems using a combination of DC & AC buses, thereby supporting in overall electrical systems efficiency.
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Based on components, the aircraft electrical systems market is classified into generators and auxiliary power unit. Advanced turbo generators combine simple-cycle magnetic bearing cooling turbine technology and electrical power generation. The system can provide liquid cooling and electrical power to implement advanced radar systems in military aircrafts, thereby positively influencing the industry.
Based on system, the aircraft electrical systems market is categorized into power distribution, generation, conversion and energy storage. Power distribution systems provide higher reliability over conventional thermal mechanical breaker systems. Industry players are engaged in the design & development of integrated electrical systems with reduced weight and compact size. For instance, in 2017, Astronics introduced CorePower systems with intelligently controlled solid state switches that can replace big thermal mechanical breaker systems, thereby positively influencing the segment share.
The aircraft electrical systems market size based on distribution channel can be classified as line fit and retrofit. The growth in the retrofit segment can be credited to the stringent regulations and policies mandating the replacement and maintenance of aircraft components after a certain flight cycle to maintain airworthiness. Moreover, the replacements required in cases on wear and tear owing to continuous operations further expands the segment size
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North America aircraft electrical systems market is anticipated to grow at a significant rate owing to the presence of major aircraft manufacturers such as Boeing, Lockheed Martin, and Airbus among others. The region also witnesses the presence of multiple airports along with vast air passenger traffic. Additionally, the region also spends significantly on military and defense sectors, thereby positively influencing the industry share over the projected timeframe.
Few players operating in the aircraft electrical systems market share include Honeywell, UTC, Astronics, Fokker technologies, Safran, and Thales. Strategic investments for advanced product development are among the prominent strategies adopted by industry players to expand their market share. For instance, in 2018, UTC Aerospace announced an investment of around USD 3 billion for development of more-electric initiative, that aims to replace hydraulic and pneumatic systems in aircrafts with electrical components, thereby providing a positive outlook for the industry expansion.
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