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Aircraft Generators Market Growth, Size, Trends, Size, Share And Analysis Report 2024-2033
Aircraft Generators Market
As per the report, the aircraft generators market size has grown strongly in recent years. It will grow from $5.43 billion in 2023 to $5.9 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The aircraft generators market size is expected to see strong growth in the next few years. It will grow to $7.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
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Soaring Demand For Air Travel Fuels Growth In The Aircraft Generators Market
The increasing demand for air travel is expected to propel the growth of the aircraft generators market going forward. Air travel involves the transportation of passengers or cargo by aircraft through the atmosphere from one location to another location. Aircraft generators play a crucial role in air travel by providing electrical power for various functions such as navigation, intercoms, communication radios, and in-flight entertainment systems. For instance, in March 2023, according to a report published by the Bureau of Transportation Statistics, a US-based government agency, in 2022, US airlines transported 194 million more passengers than in 2021, a 30% increase year on year. From January to December 2022, US airlines handled 853 million passengers (unadjusted), up from 658 million in 2021 and 388 million in 2020. Therefore, the increasing demand for air travel is driving the growth of the aircraft generators market.
Advancements In High-Specific Power Generators
Major companies operating in the aircraft generator market are focused on developing innovative products, such as high-specific power generators, to maximize revenues in the market. A high-specific power generator is a generator that produces a lot of power for its weight. It is measured in kilowatts per kilogram (kW/kg); the higher the specific power, the more power the generator can produce for its weight. For instance, in August 2021, LaunchPoint Electric Propulsion Solutions Inc., a US-based electric and hybrid-electric propulsion and power generation developer, launched LaunchPoint HPS055 GenSet. It is a 5.5kW high-specific power generator and hybrid electric power/engine controller system that makes use of specialized electric machines and GenSet technology to enable long-distance flight. The possibilities for these kinds of aircraft are increased because drones equipped with the 5.5kW GenSet can fly farther and carry more weight than those equipped with other hybrid power system models. The 5.5kW GenSet is now shipping to customers for worldwide security, inspection and mapping, and cargo delivery. It may be used in both military and commercial drones.
The aircraft generators market covered in this report is segmented -
1) By Type: Variable Speed, Constant Frequency, Auxiliary Power Unit, Starter Generator, Integrated Drive Generator, Alternator
2) By Aircraft Technology: Conventional Aircraft, Hybrid Electric Aircraft
3) By Current Type: Alternating Current (AC), Direct Current (DC)
4) By Platform: Fixed-wing, Rotary-wing
5) By End Use: Original Equipment Manufacturer (OEM), Aftermarket
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Major companies operating in the aircraft generators market report are General Electric Company, RTX Corporation, Boeing Co., Honeywell International Inc., Safran S.A., Thales Group, Ametek Inc., TransDigm Group Inc., Regal Beloit Corporation, Diehl Stiftung & Co. KG, Smiths Group PLC, Woodward Inc., HEICO Corporation, Sinfonia Technology Co. Ltd., Crane Aerospace & Electronics LLC, Astronics Corporation, PBS Aerospace Inc., Dayton-Granger Inc., Calnetix Technologies LLC, Chelton Limited, Aerolec Technology Corporation, Arc Systems Inc., Duryea Technologies Inc., Epropelled Systems Private Limited, Motor Magnetics Inc., Technodinamika Corporation, Plane Power Alternators LLC
Contents of the report:
1. Executive Summary
2. Aircraft Generators Market Report Structure
3. Aircraft Generators Market Trends And Strategies
4. Aircraft Generators Market - Macro Economic Scenario
5. Aircraft Generators Market Size And Growth
…..
27. Aircraft Generators Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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