Industry Overview of Aircraft System Market: Report Based on Development, Scope, Share, Trends, Forecast to 2028

The global aircraft system market is anticipated to grow at a CAGR of 7.5% during the forecast period (2022-2028).

Aircraft systems are those required to operate an aircraft efficiently and safely, however, their complexity varies with the type of aircraft. All aircraft have a requirement for essential systems such as the engine, propeller, induction, ignition systems as well as the fuel, lubrication, cooling, electrical, landing gear, and environmental control systems to support flight.

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The market is segmented based on the type and application. Based on the type the market is sub-segmented into the electrochemical system, avionics, and engine control system.

Electromechanical systems often referred to as mechatronics which is a new and rapidly growing field that integrates electronics, mechanics, and pneumatics, hydraulics, & computer control systems to create new & improved automated manufacturing production systems. Avionics (a blend of aviation and electronics) are the electronic systems used on aircraft, artificial satellites, and spacecraft. Avionics systems are used in aircraft as it comprises features such as communications, navigation, the display and management of multiple systems, and the hundreds of systems that are fitted to aircraft to perform individual functions. An engine control unit (ECU), also commonly known as an engine control module (ECM), is a type of electronic control unit that controls a series of actuators on an internal combustion engine to ensure optimal engine performance. In an Aircraft, engine controls are used as they provide a means for the pilot to control and monitor the operation of the aircraft's powerplant.

Some major players in the market include Safran S.A., Honeywell International Inc, and Thales Group, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in April 2020, The UTC and Raytheon Company have been merged and a new company named Raytheon Technologies. Additionally, in February 2019, Safran signed a contract with AVIC to provide the main and auxiliary electrical generation system for MA700, a regional turboprop aircraft.

Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Type
o By Application

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Safran S.A., Honeywell International Inc, and Thales Group, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Aircraft System Market Report by Segment

By Type
• Electromechanical System
• Avionics System
• Engine Control System

By Application
• Military
• Commercial

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This release was published on openPR.