New York, Feb. 28, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Aircraft Ignition System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Electric Ignition and Magneto Ignition), Component (Ignition Leads, Igniters, Spark Plugs, Exciters, and Others), Engine Type (Turboprop Engine, Turbofan Engine, Turbojet Engine, and Piston Engine) and Geography”, the global aircraft ignition system market demand is influenced by rising adoption of FADEC systems and growing production of aircraft.
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Global Aircraft Ignition System Market - Report Scope:
| Market Size Value in | USD 433.75 Million in 2022 |
| Market Size Value by | USD 596.28 Million by 2028 |
| Growth rate | CAGR of 5.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 161 |
| No. of Tables | 80 |
| No. of Charts & Figures | 82 |
| Historical data available | Yes |
| Segments covered | Type, Component, and Engine Type |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Aircraft Ignition System Market: Competitive Landscape and Key Developments
Sonex LLC, Champion Aerospace Inc, Electroair Acquisition Corp, PBS Group AS, Tempest Aero Group LLC, Surefly Partners Ltd, Unison Industries LLC, FADEC International LLC, Kelly Aerospace Inc, and Continental Aerospace Technologies Inc are among the key aircraft ignition system market players profiled in the report. Several other essential aircraft ignition system market players were analyzed for a holistic view of the aircraft ignition system market and its ecosystem. The report provides detailed market insights, which can help major aircraft ignition system market players strategize their growth.
In 2022: Unison Industries LLC announced that they are expanding its distribution agreement with AAR CORP. Under this agreement, AAR will be distributing ignition leads, igniter plugs, harnesses, and related spare parts to aftermarket customers worldwide. Through this agreement, the company will be able to improve its customer service for operators and MRO facilities.
In 2021: Champion Aerospace Inc announced that they had signed an agreement with S3 AeroDefense to distribute its solutions worldwide.
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The aircraft ignition system market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). North America accounted for the largest aircraft ignition system market share in 2021. The presence of a large number of commercial and military aircraft manufacturers across the region triggers the demand for engines, thereby contributing to the need for engine components, such as aircraft ignition systems. For instance, in July 2022, Honeywell International Inc. signed a contract worth US$ 100 million to supply aircraft engines to Hindustan Aeronautics Limited. Similarly, the prominent presence of engine MRO service providers bolsters the demand for aircraft ignition system components, such as igniters, ignition leads, spark plugs, exciters, and ignition harnesses, in North America. Champion Aerospace Inc, Tempest Aero, FADE International LLC, Unison Industries LLC, Kelly Aerospace Inc, and Continental Aerospace Technologies are a few of the aircraft ignition system providers in the region.
The aircraft ignition system market size in APAC is expected to grow at the highest CAGR during 2022–2028. A continuously growing aviation sector, with the rise in government initiatives to promote this sector, is leading to a rise in demand for aircraft and airport components. The Indian government, in September 2021, announced its intentions to make the country a global MRO hub. Further, the growing interest of international companies in investing in the aviation sector in APAC countries, such as India and Japan, for establishing aircraft part manufacturing facilities is likely to generate market opportunities for aircraft ignition system market players during the forecast period.
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In 2021, the aviation industry witnessed some recovery as more than 5,000 aircraft resumed flying in 2021. After being grounded for months, various aircraft owners opted for MRO activities to ensure the aircraft models are airworthy. Owing to this, the aircraft models along with aircraft engines and engine components underwent extensive MRO, which facilitated the aircraft ignition system manufacturers to sell their products in higher quantity as compared to 2020. For instance, Airbus delivered over 611 aircraft in 2021, most of them were A320neo and A321neo. Boeing delivered 340 aircraft. The aircraft ignition system market growth has been recovering since 2021 owing to the resumption of aircraft fleet and is expected to continue to grow during the forecast period.
Many aircraft ignition system market players have a notable presence in North America. A few of these include Champion Aerospace Inc., Kelly Aerospace Inc, Unison LLC, Tempest Aero Group, and FADEC International. These companies are adopting various organic and inorganic growth strategies to expand their geographic presence, strengthen their distribution channel, and enhance their product portfolios. Unison, LLC announced the launch of its new igniter plug in June 2019. The new igniter enabled by a patented technology is designed to improve spark life under extreme environmental conditions. In March 2020, Champion Aerospace appointed Airpart Supply Ltd as its authorized distributor in Europe. The partnership includes the distribution of slick magnetos, oil filters, harnesses, spark plugs, and spare parts, along with the turbine range, including exciter boxes, igniter plugs, and ignition leads.
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Aircraft Ignition System Market: Type Overview
Based on type, the aircraft ignition system market size is segmented into electric ignition and magneto ignition. The electric ignition segment is expected to dominate the market in terms of aircraft ignition system market share in 2022. The growth for electric ignition segment is majorly attributed to the adoption of FADEC systems among the aircraft engine manufacturers and the demand from aircraft manufacturers for digital and electronification of engine systems. Further, the aircraft ignition system market growth for electric ignition segment is attributed to the rise in aircraft production and deliveries across different regions.
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