The aircraft electrical systems market is poised for significant growth over the next seven years, driven by advancements in technology, increasing demand for more electric aircraft, and the need for efficient and sustainable aviation solutions. This report provides an in-depth analysis of the market trends, key players, and regional dynamics that will shape the industry from 2025 to 2032.
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The global aircraft electrical systems market was valued at approximately $16.9 billion in 2022 and is projected to reach $30.7 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 6.2% from 2023 to 20321. This growth is fueled by the increasing adoption of more electric technology in aircraft, which enhances performance and operational efficiency by replacing traditional hydraulic and mechanical systems with electric alternatives.
More Electric Technology: The shift towards more electric aircraft is a major driver, as it offers improved fuel efficiency, reduced emissions, and enhanced aircraft performance. This trend is expected to continue, with significant investments in electric propulsion systems and advanced power electronics.
Sustainability and Environmental Concerns: The aviation industry is under pressure to reduce carbon emissions. Electric and hybrid-electric propulsion systems are seen as key solutions, offering potential reductions in CO2 emissions by up to 88% compared to conventional aircraft.
Modernization and Upgrades: The demand for lightweight electrical systems and aircraft modernization is on the rise. This includes integrating advanced avionics and power generation capabilities, which are critical for supporting sophisticated onboard technologies.
Generators: The leading component in the aircraft electrical systems market, responsible for power generation.
Batteries: Expected to grow significantly due to advancements in battery technology and the need for efficient energy storage.
Power Distribution Systems: Essential for efficient distribution of electrical power across the aircraft.
Power Generation: Includes generators and alternators.
Power Conversion: Involves converting electrical power to meet specific system requirements.
Power Distribution: Ensures efficient distribution of electrical power.
Energy Storage: Primarily involves batteries.
Commercial Aviation: Dominates the market with a significant share, driven by fleet expansions and modernization efforts.
Military Aviation: Represents a substantial segment with ongoing modernization programs.
General Aviation: Includes business jets and private aircraft, with growing demand for advanced electrical systems.
North America: Holds the largest market share due to its well-established aviation infrastructure and major aircraft manufacturers.
Asia Pacific: Expected to grow at the highest CAGR due to increasing demand and infrastructure development.
The market is dominated by several major players, including:
Safran Group
Amphenol Corporation
General Electric
Collins Aerospace
Astronics Corporation
Crane Aerospace & Electronics
AMETEK, Inc.
Parker Hannifin Corp
Thales Group
Honeywell International Inc.
Technological Limitations: Current battery technology is not yet fully capable of supporting widespread electrification of aircraft.
Infrastructure and Regulatory Frameworks: The need for supportive infrastructure and regulatory frameworks to facilitate the adoption of electric aircraft.
Advancements in Battery Technology: Ongoing research into high-density batteries and solid-state batteries offers potential for significant improvements.
Growing Demand for Sustainable Aviation: Increasing focus on reducing emissions presents opportunities for companies investing in electric and hybrid-electric propulsion systems.