Aircraft Generators Market : Industry Future Set To Massive Growth
In 2022, the aircraft generators market was worth US$ 5.83 Bn. The market is estimated to propel from US$ 6.30 Bn in 2023 to US$ 12.98 Bn by 2033. The market for aircraft generators is anticipated to develop at a CAGR of 7.5% over this projection timeframe.
An airplane's electrical power is assisted by aircraft generators. Aircraft generators provide various benefits over aircraft alternators. Preference for aircraft generators is growing since these are less susceptible to rogue electrical spikes or reversed polarity. These generators can still generate electricity even after the battery is dead.
The significant driver of the market expansion is the rising demand for electric aircraft for commercial aviation. Additionally, there is more cooperation between aircraft and electrical producers to invest in electric power systems. The expansion of the aircraft generators market is anticipated to benefit from such cooperative initiatives' attractive market potential.
The market is being driven by factors like passenger-related applications, which include urban air mobility and rural passenger accessibility enabling distant area travel. Additionally, accessibility for business travel and extensive commercial air service drive market development during the forecast period.
Regarding technical improvements in aircraft models, the aviation sector is now undergoing significant changes. The power generation systems utilized in airplanes have improved as a result of this. The aviation sector is likely to see more electric and hybrid-electric aircraft in the future, and their adoption rate is likely to rise dramatically.
Electrical solutions reduce issues with conventional aviation systems including expense, heating, fluid, and contamination. Since electrical systems have more efficient motors and a lower chance of component breakage, they are up to 80% more efficient than hydraulic actuators.
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The market for aircraft generators is most likely to be dominated by North America. The expansion of the market is being facilitated by the existence of several businesses pushing the electrification of the aviation industry. Since the countries are expanding national aircraft production, the Asia Pacific region is experiencing the fastest increase.
KEY TAKEAWAYS
The US aircraft generators market is estimated to possess a market share of 18.3%.
The Japanese aircraft generators market is expected to secure a market share of 5.8%
Over the forecast period, the German aircraft generators market is expected to have a market share of 5.1%.
The UK market for aircraft generators is likely to expand at a CAGR of 3.1%.
The Chinese aircraft generators market is likely to rise at a CAGR of 4.4% over the forecast period.
Over the forecast period, the fixed wing segment is projected to dominate the market holding a market share of 68.6%.
COMPETITIVE LANDSCAPE
Major companies in the aircraft generators market include Honeywell Aerospace Safran, Thales Group, Collins Aerospace, General Electric, Ametek, Inc., Diehl Aviation, Meggitt plc, Rolls-Royce Holdings plc, Calnetix Technologies, Unison Industries, Pbs Aerospace, Astronics Corporation, Aerospace Electrical Systems, Arc Systems, Inc., Skurka Aerospace, Inc., Sinfonia Technology Co. Ltd., Epropelled, Duryea Technologies, Plane-Power and others.
Businesses in the aviation generator sector are aiming to enhance their present products in addition to creating new technologies for aircraft generators. To increase their influence and maintain their dominance, some market competitors are creating strategic partnerships with one another. They are also keeping positive ties with aircraft manufacturers, particularly with those that make electric aircraft, to increase their entry into lucrative sectors.
RECENT DEVELOPMENTS
In June 2022, Diehl Aviation created its own generator for emergency oxygen delivery on board passenger aircraft. The top manufacturer of cabin interiors and aircraft systems made its official debut with the Universal Oxygen Generator at the Aircraft Interiors Expo (AIX) in Hamburg.
In May 2022, Using its 1-megawatt generating system, Honeywell successfully finished the first phase of testing. It's a brand-new kind of energy made specifically for use by hybrid-electric aircraft. The first electric machine of its kind in the industry that can operate as a 1-megawatt motor without changes in this system, which is also aerospace-grade.