Aircraft Electrical Systems Market Size (2024 - 2029)

Aircraft Electrical Systems Market Analysis

The Aircraft Electrical Systems Market size is estimated at USD 25.80 billion in 2024, and is expected to reach USD 35.52 billion by 2029, growing at a CAGR of 6.60% during the forecast period (2024-2029).

The aircraft's electrical system is pivotal, powering essential systems, avionics, and onboard equipment. Comprising power generation, distribution, conversion, and storage, this system has transformed with the advent of more electric aircraft designs. With a surge in demand for new aircraft and defense systems, the aerospace and defense sectors are increasingly turning to advanced electrical solutions. OEMs are now prioritizing top-tier electrical systems to meet stringent international regulations.

Furthermore, the shift toward more electrified architecture promises enhanced fuel efficiency, reduced maintenance costs, and heightened reliability thanks to modern power electronics. This transition also means fewer hydraulic and pneumatic components in engine installations. Short-range electric aircraft are poised to gain viability in the near future. The market's momentum is further fueled by expanding commercial aviation networks, rising air passengers, a booming tourism industry, and ongoing innovations in fuel-efficient aircraft.

However, stringent safety regulations nudge manufacturers toward advanced, globally compliant electrical systems. Compliance is not merely a checkbox for aviation safety but a prerequisite for aircraft certification, ensuring only the best systems are integrated. This emphasis on compliance is not just regulatory but a key driver propelling market growth as manufacturers realign their offerings. While challenges, including regulatory hurdles, might pose obstacles, the market's growth trajectory remains positive.

Aircraft Electrical Systems Industry Segmentation

An aircraft electrical system refers to the network of electrical components and circuits that provide power and control various electrical functions within an aircraft. An aircraft electrical system consists of four essential sub-systems, namely power generation, distribution, conversion, and storage. The emergence of the electric aircraft concept revolutionized the conventional aircraft electrical power architecture.

The aircraft electrical systems market is segmented by system, platform, and geography. By system, the market is segmented into power generation, power distribution, power conversion, and energy storage. By platform, the market is segmented into commercial aviation, military aviation, and general aviation. The report also covers the market sizes and forecasts for the aircraft electrical systems market in major countries across different regions. For each segment, the market size and forecast are provided in terms of value (USD).