Portland, OR, Feb. 24, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global aircraft circuit breakers market generated $265.3 million in 2021, and is estimated to reach $387.1 million by 2031, witnessing a CAGR of 4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $265.3 Million |
| Market Size in 2031 | $387.1 Million |
| CAGR | 4% |
| No. of Pages in Report | 250 |
| Segments Covered | Voltage, Application, Type, System Type, and Region |
| Circuit breakers offer safety and high resistance to shock & vibration owing to which they are widely used in the aircraft and defense sector | |
| The high performance, durability, and ease of installation of aircraft circuit breakers | |
| Opportunities | Rapid technological advancements in aircraft circuit breakers |
| Restraints | High installation and repair costs |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic caused several issues to airports, airlines, and their commercial partners. It led to financial devastation in the aviation sector where aircraft circuit breakers are widely used.
- The aviation sector witnessed huge losses and according to IATA estimates, the revenues of the sector drastically went down. The drastic decline in the demand for passenger air transport during the pandemic threatened the viability of several aircraft manufacturers, thereby negatively impacting the aircraft circuit breakers market.
The report offers a detailed segmentation of the global aircraft circuit breakers market based on voltage, application, type, system type, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on voltage, the medium voltage segment held the largest share in 2021, accounting for nearly half of the global aircraft circuit breakers market and would rule the roost through 2031. The same segment is estimated to witness the fastest CAGR of 4.6% during the forecast period. The report also studies the high voltage and low voltage segments.
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In terms of application, the commercial aircraft segment captured the largest market share of nearly three-fifths of the global aircraft circuit breakers market in 2021 and is expected to lead the trail during the forecast period. The same segment is likely to achieve the fastest CAGR of 4.4% through 2031. The report also studies the military aircraft, UAV, and others segments.
In terms of type, the thermal aircraft circuit breaker segment captured the largest market share of more than two-fifths of the global aircraft circuit breakers market in 2021 and is expected to dominate the market in 2031. The same segment is likely to achieve the fastest CAGR of 5.2% through 2031. The other segments discussed in the report include magnetic aircraft circuit breaker, and others.
In terms of system type, the AC segment captured the largest market share of nearly three-fourths of the global aircraft circuit breakers market in 2021 and is expected to lead the trail during the forecast period. The same segment is likely to achieve the fastest CAGR of 4.3% through 2031. The report also studies the DC segment.
Based on region, the market in North America was the largest in 2021, accounting for over two-fifths of the global aircraft circuit breakers market in 2021 and is expected to dominate in terms of revenue in 2031. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 5.2% from 2022 to 2031. The other regions analyzed in the study include LAMEA and Europe.
Leading players of the global aircraft circuit breakers market analyzed in the research include Sensata Technologies, Inc., Safran, Eaton Corporation, Woodward Inc., Astronics Corp., Raytheon Technologies Corporation, and Crouzet.
The report analyzes these key players of the global aircraft circuit breakers market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
