The aircraft electrical systems market size is projected to grow from 19,344 million in 2020 to USD 37,265 billion by 2030, at a CAGR of 6.8% during the forecast period. The major factors driving the market include technological advancements in aircraft electrical systems and the adoption of the more electric aircraft concept, which lead to the increasing need for enhanced aircraft electrical system.
Some of the major players in the aircraft electrical systems market include Safran (France), GE Aviation (US), Collins Aerospace (US), Astronics (US), Honeywell International (US), Thales (France), Crane Aerospace & Electronics (US), Amphenol (US), AMETEK (US), and Meggitt (UK). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global aircraft electrical systems market. Partnerships and new product launches have been the leading strategies adopted by major players from 2014 to 2018.
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Safran is one of the major players in the aircraft electrical systems market. The company focuses on securing contracts to improve its position in the market. It has been successful in building a leading world position for itself in electrical power systems, chiefly through a series of acquisitions. The company’s strategies include focusing on research & development and technological differentiation, as well as targeted investments, acquisitions, and alliances. The growing demand for more reliable and environmentally friendly aircraft will enable Safran, which specializes in aircraft electrical systems, to enhance its position in the aircraft electrical systems market. Safran has introduced new power electronics for aircraft, such as ETRAS (Electrical Thrust Reverser Actuation System) and EBAC (Electrical Braking Actuation Controller). These major technological advances, along with its expertise in engine and electrical wiring, will enable Safran to offer innovative electrical systems to aircraft manufacturers in their forthcoming programs.
Another major player in the aircraft electrical systems market is Thales. The company is one of the major suppliers of electrical aircraft power-generation and conversion systems. The company has been working intensively in this field for more than 60 years. Thales provides major innovative electrical solutions to commercial and military aircraft, including the Boeing 787 Dreamliner, Airbus A380, Airbus A350 XWB, and Airbus Military’s A400M military transport. In 2016, the company selected the Florida-based CRS Jet Spares (US) as a distributor for its Brushless DC Generator. This generator will be part of the original equipment used on all Bombardier Challenger 300 and 350 model airframes.
Aircraft Electrical Systems Market by System (Power Generation, Conversion, Distribution, Energy Storage), Component, Technology, Platform (Commercial Aviation, Military Aviation, Business & General Aviation), End-User, Application & Region - Global Forecast to 2030
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