New York, US, Aug. 18, 2021 (GLOBE NEWSWIRE) — Aircraft Electrical Systems Market Overview
According to a comprehensive research report by Market Research Future (MRFR), “ Aircraft Electrical Systems Market Information by System, Component, Application, Platform, and Region – Forecast till 2027 ”, the market is estimated to grow at 6.4% CAGR from 2020-2027.
Market Scope
The market’s growth scope is promising, backed by several encouraging factors including the burgeoning aircraft fleet size and the resultant rise in the requirement for a variety of systems and services. The key objective is to ensure that aircraft are fuel-efficient while emissions are reduced. The market prospects are further bolstered by the soaring focus on aviation upgrade in several parts of the world.
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Competitive Landscape
The well-established vendors profiled in the MRFR report are: AMETEK, Inc. (US)
Esterline Technologies (US)
GE Aviation (US)
Astronics Corporation (US)
Honeywell International Inc. (US) Thales Group (France) Raytheon Technologies Corporation (US) Amphenol Corporation (US) Safran (France) Meggitt (UK) With the aim to bolster worldwide reach, vendors are focused on launching new and far more innovative systems, and products in the market. They also employ numerous competitive strategies, including acquisitions, partnerships, and collaborations. For instance, in August 2021, Eve Urban Air Mobility Solutions’ subsidiary Fahari Aviation formed a Memorandum of Understanding/MoU with Kenya Airways for establishing a foundation of procedures and concepts to effectively scale aircraft’s electrical vertical landing and take-off, also called EVA (Electrical Vertical Aircraft). This partnership will entail Fahari Aviation backing the fully electric aircraft as well as the product innovative process to facilitate the integration of UAM with the overall operations of Kenya Airways. Primary Growth Boosters In a traditional aircraft, the non-propulsive systems are powered by a combination of hydraulic, pneumatic, electric, and mechanical power sources. But these systems come along with certain disadvantages, including low efficiency in conjunction with reduced fuel to energy conversion rate and high risks of corrosive fluid leakage, as well as fire. On the contrary, electrical systems make use of electricity for powering majority of the non-propulsive systems present in the aircraft that not only enhances the performance but consumes lesser power.Electric power technology is increasingly replacing hydraulic power as it helps lighten the total aircraft weight, which ultimately elevates the fuel efficiency. Aircraft manufacturers are entirely focused on augmenting fuel efficiency by replacing around 12% of the hydraulically […]