Dublin, June 07, 2024 (GLOBE NEWSWIRE) -- The "Global Aircraft Electrical Distribution Systems Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global aircraft electrical distribution systems market was valued at US$ 1.4 billion in 2023 and is projected to register a healthy growth of 3.5%+ during 2024-2032.
Post a series of setbacks over the past few years (a combined effect of Boeing's downfall with the B737MAX grounding and the COVID-19 catastrophe), the market's road to growth commenced from 2022 onwards. 2023 was a year of recovery, the industry resumed pre-pandemic indicators. Ultimately positioning 2024 as a year of ample growth opportunities and expansions.
Commercial aircraft accounted for the largest market share
Based on the aircraft type, the market is segmented as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV. Among these aircraft types, commercial aircraft is expected to remain the biggest demand generator for distribution systems during the forecast period. The aircraft type is also likely to grow at a healthy rate in the years to come. Recovering aircraft deliveries are discernible. Under its current year guidance report, Airbus is targeting to deliver 800 aircraft in 2024, as compared to 735 delivered in 2023. A sharp increase in the production rate of the A350 XWB and B787 is expected in the coming years, reaching back to 2018 levels.
SSPC accounted for the largest market share
Based on the product type, the market is segmented as solid-state power controllers (SSPC), relays, contactors, circuit breakers, and others. Among these product types, SSPC is expected to remain the most dominant product type in the market during the forecast period. SSPCs are the major components used for circuit protection. SSPC generally includes the combination of a circuit breaker and a relay and is very crucial in electrically controlling and isolating a circuit in case of flow of excessive electric current or power-surge incidents.
North America accounted for the largest market share
In terms of regions, North America is expected to remain the largest market for aircraft electrical distribution systems during the forecast period. The USA remains the growth propellor of the region's market in the years to come. The country is the preferred destination for aircraft assembly with the presence of almost all the leading OEMs and tier players. Asia-Pacific, the largest procurer of commercial aircraft, is also likely to create sizeable market opportunities in the coming years, driven by an expected rise in air passenger traffic coupled with a high focus on China, Japan, and India for the indigenous manufacturing of aircraft.
Key Players
The following are the key players in the aircraft electrical distribution systems market:
- Safran Group
- Collins Aerospace (Raytheon Technologies Corporation)
- GE Aviation
- Honeywell International Inc.
Recent Product Developments
Key focus areas for leading players include reduced SWaP size, high voltage compatibility, and adaptation to electrifying aircraft. GE's next-gen power distribution systems for the Falcon 10X will leverage highly flexible modular power tiles a small, lightweight power distribution components based on solid-state power control that eliminate hundreds of mechanical circuit breakers.
Market JVs and Acquisitions
- 2023: Safran acquired Thales' aeronautical electrical systems business
- 2019: TransDigm acquired Leach International Corporation
The aircraft electrical distribution systems market is segmented into the following categories:
By Aircraft Type
- Commercial Aircraft
- Regional Aircraft
- General Aviation
- Helicopter
- Military Aircraft
- UAV
By System Type
- Primary Power Distribution System
- Secondary Power Distribution System
By Product Type
- Solid-State Power Controllers
- Relays
- Contactors
- Circuit Breakers
- Others
By Fit Type
- Original Equipment
- Aftermarket
By Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
List of Companies Featured in the Report
- Safran SA
- Collins Aerospace
- GE Aerospace
- TransDigm Group (Leach International Corporation)
- Astronics Corporation
- Ametek Inc.
- Crane Co.
- Honeywell International Inc.
- AVIC SE
For more information about this report visit https://www.researchandmarkets.com/r/i66nsf
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