In 2022, the aircraft generators market was worth US$ 5.83 Bn. The market is estimated to propel from US$ 6.30 Billion in 2023 to US$ 12.98 Billion 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 give several 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 rise of the aircraft generators market is predicted to profit from such joint projects' excellent market potential.
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The market is being driven by elements such as passenger-related applications, which include rural passenger accessibility and urban air mobility, enabling travel to remote areas. Accessibility for business travel and broad commercial air service are further factors driving market growth during the projection period.
The aviation industry is currently witnessing considerable changes with regard to technology advancements in aircraft models. The power generation systems utilized in airplanes have improved as a result of this. Future aircraft in the aviation sector are increasingly likely to be electric or hybrid-electric, and their adoption is also projected to increase significantly.
Electrical alternatives lessen the costs, temperature, fluid, and contamination problems associated with traditional aircraft systems. Electrical systems are up to 80% more efficient than hydraulic actuators because they feature more effective motors and a decreased likelihood of component failure.
North America is most likely to rule the aviation generator industry. The existence of numerous companies promoting the electrification of the aviation industry is assisting the market's growth. because the countries are expanding national aircraft production, the Asia Pacific region is experiencing the fastest increase.
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- 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%.
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.
- 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.