The Aircraft Electrical Conversion Systems market size is likely to grow at a CAGR of 7.7% during 2021-2026, to reach US$ 1.1 billion in 2026, states Stratview Research.
DETROIT, March 28, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the Aircraft Electrical Conversion Systems Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.
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Market Size in 2026
USD 1.1 billion
7.7% during 2021-2026
Number of Segments Covered
Number of Tables & Graphs
Country-Level Market Assessment
Segment Insights on Aircraft Electrical Conversion Systems Market
The global Aircraft Electrical Conversion Systems market is segmented based on component type, aircraft type, and region.
Based on component type - The market is classified as transformers, AC-DC converters (TRU & ATRU), and DC-AC Converters (inverters). Among these components, transformers are expected to remain the largest segment of the market and it will hold a revenue share of more than 50% during the forecast period.
Based on aircraft type - The market is segmented into commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAVs. Among these aircraft types, commercial aircraft is expected to remain the most dominant as well as the fastest-growing aircraft type in the market and it will hold a revenue share of more than 50% during the forecast period.
Commercial aircraft alone generate the demand for more than half of the electrical conversion systems used in the aircraft industry. The aircraft type is currently going through one of its hardest times with multiple setbacks. However, the industry stakeholders are accustomed to such breathtaking market conditions and have learned the art to sail through the crisis.
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Which Region Offers the Best Opportunity and Growth?
The report suggests that North America is expected to remain the largest market for Aircraft Electrical Conversion Systems during the forecast period. This growth is majorly attributed to the following ?
- The increasing demand for commercial as well as military aircraft in the region.
- The region is the biggest demand generator for general aviation, UAVs, military aircraft, and helicopters and one of the largest generators for commercial aircraft. This makes the region the most preferred manufacturing/assembly destination for aircraft.
Likewise, the Asia-Pacific is currently a small market but is likely to exhibit the highest growth in the coming years, driven by China, Japan, and India.
Aircraft Electrical Conversion Systems Market Drivers
Some of the key drivers listed in the report are given below.
- The increasing demand for more efficient and reliable electrical systems in aircraft.
- The increasing need for more fuel-efficient and eco-friendly aircraft, and electric aircraft thus.
- Advancements in high-density battery solutions for electric aircraft.
- Optimized aircraft performance through increased use of electric technology.
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Top Companies in Aircraft Electrical Conversion Systems Market?
Owing to a well-established supply chain and moderate technological requirements, and the presence of a large number of players serving the industry, the market is fragmented with major players holding a smaller part of the market.
- Astronics Corporation
- Collins Aerospace (Raytheon Technologies Corporation)
- Crane Aerospace & Electronics
- Honeywell International Inc.
- GE Aviation
- Safran Group
- Thales Group
What Deliverables will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Aircraft Electrical Conversion Systems Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Competitive landscape analysis, Market share analysis
How complex is the business environment?
Porter's five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
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About us ?
Stratview Research is a global market research firm that highly specialises in aerospace & defense, chemicals, and few other industries.
It launches limited number of reports annually on the above-mentioned specialisations. The reliability and insightfulness of the reports enable the readers take convincing business decisions.
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