The global market for aircraft electrical systems is projected to have considerable CAGR of around 5.5% during the forecast period. The major factor that propels the market growth include the growth in the aviation industry and technological development in the electrical systems. Further, the increased spending and investment in the R&D in the industry along with the launch of the novel planes positively affect the growth of the market. For instance, the Commercial Aircraft Corporation of China Ltd. (COMAC), a Chinese state-owned aerospace manufacturer is a large player and key manufacturer in the aerospace industry. In May 2017, COMAC launched C919 aircraft with the most advanced technological features and is about to launch more such aircraft including C929 and C939 in the near future. In addition, China also aims to be the leader in the aviation industry as it has opened the largest airport and aims to break Airbus and Boeing’s aviation Duopoly in the region.
Browse the full report description of "Global Aircraft Electrical Systems Market Size, Share & Trends Analysis Report by Component Type (Generators, Distribution Devices, Conversion Devices, and Battery Management Systems), By Platform (General Aviation, Commercial Aviation, and Military Aviation) and Forecast 2020-2026" at https://www.omrglobal.com/industry-reports/aircraft-electrical-systems-market
Some of the aviation companies include Eurofighter GmbH and Airbus further contribute in the growth of the aviation industry. Eurofighter is owned by Airbus Defense and Space, BAE Systems Military Air & Information, and Leonardo. Germany has a major manufacturing site for the Airbus and employs around 46,000 people and had 10,000 external suppliers in 2017. In Hamburg, the company manages structural assembly and outfitting of fuselage sections along with the final assembly of A320 family airplanes. The delivery to customers in Europe and Middle East is managed from this plant. The company also has a manufacturing unit in Hamburg, which manufactures the rear fuselage sections for Airbus’ A330 and A350 XWB plant. Thus, such rapid investments by the company as well as the government policies positively affect the aerospace industry which in turn directly affects the market growth.
The growing number of passengers travelling through air in emerging economies such as India and China further contribute to the growth of aviation industry. As per the World Bank, around 390 million people travelled via air in 2014, that further increased to 611 million air passengers in 2018 in China. Along with that, the technological advancement and introduction of new technologies in the aviation industry also affect the growth of the market in the region. The Commercial Aircraft Corporation of China Ltd. (COMAC), a Chinese state-owned aerospace manufacturer, is a large player and key manufacturer in the aerospace industry. In May 2017, COMAC launched C919 aircraft with the most advanced technological features and is about to launch more such aircraft including C929 and C939 in the near future. Thus, such rapid investments by the company as well as the government positively affect the aerospace industry, which in turn directly propels the market growth.
Global Aircraft Electrical Systems Market Segmentation
By Component Type
By Platform
Global Aircraft Electrical Systems Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World