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3. Safran (France) and Thales Group (France) are leading players in Aircraft Electrification Market

The size of the aircraft electrification market is projected to grow from USD 3.4 billion in 2022 to USD 8.6 billion by 2030, at a CAGR of 12.2% from 2022 to 2030. Increasing emphasis on reducing carbon emissions and aircraft noise are major factors expected to drive the market in the coming years.

Major players in the aircraft electrification market include Honeywell International Inc. (US), Safran (France), Thales Group (France), United Technologies Corporation (US), GE Aviation (US), Raytheon Company (US), AMETEK (US), Meggitt PLC (UK), BAE Systems (UK), Radiant Power Corporation (US), EaglePicher Technologies LLC (Canada), Astronics Corporation (US), Pioneer Magnetics (US), Esterline Technologies (US), Crane Aerospace & Electronics (US), Hartzell Engine Technologies (US), PBS AEROSPACE (US), Nabtesco Corporation (Japan), Avionic Instruments, LLC (US), andCarlisle Interconnect Technologies (US), among others. These players have adopted various strategies, such as new product launches & developments, contracts, agreements, partnerships, joint ventures, and expansions, to strengthen their footholds in the aircraft electrification market. Of these, new product developments, contracts, and agreements were the major strategies adopted by market players between 2015 and 2019 to enable them to enhance their product portfolios with innovative products and expand their customer bases.

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Honeywell International Inc. is a major player in the aircraft electrification market. The company offers a wide range of aircraft electrical components for various applications and has a strong customer base of aircraft manufacturers and airlines. LORD Corporation has been adopting various strategies such as new product launches to enhance its product portfolio in the aircraft electrification market. Honeywell International Inc. has its manufacturing facilities, sales & service affiliates, and business partner network across North America, Europe, Asia Pacific, the Middle East, and Latin America. This enables it to provide worldwide customer support and consultation. Honeywell International Inc. provides electrical components to OEMs and aftermarkets across the globe.

Safran is another player in the aircraft electrification market. The company provides aircraft electrical components for a wide range of applications. High focus on R&D has resulted in the development of innovative products. Safran is leveraging its expertise in more electric aircraft products which are aligned with the changing market needs.

Thales Group is among the top manufacturers of aircraft electric components in the market. It has a vast portfolio of electric power conversion components. The company is expanding its business in high-growth regions and countries, including the US and Europe. Thales leverages R&D investments to drive innovation and technological excellence. For six years, Thales has won the Clarivate Analytics’ Top 100 Global Innovators Award, owing to its R&D capabilities. 40% of the company’s total staff is in the R&D team, involved in the development of innovative products for the enhancement of products to leverage the changing trends in the aviation sector.

Related Reports:

Aircraft Electrification Market by Technology (More Electric, Hybrid Electric, Fully Electric), Application, System, Component (Batteries, Fuel Cells, Actuators, Generators, Power Electronics, Distribution Devices), Platform, Region - Global Forecast to 2030

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