Global commercial aircraft electrical system market: $7.13 billion industry forecast by 2018
Commercial Aircraft Electrical & Environmental Systems Market: Forecast & Analysis 2013-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-14 23:37:03
The global commercial aircraft electrical and environmental system market revenue is expected to grow from $5.20 billion in 2012 to $7.13 billion by 2018, at an estimated CAGR of 6.50% from 2013 to 2018. Honeywell is the leader in the aircraft Electrical and Environmental system market with over 55% of the market share.
Slowly recovering from the economic crisis, airlines across the globe are looking for more efficient aircraft which can increase their net profit. The increasing fuel price is a major driving factor, forcing the aircraft manufactures to opt for more fuel efficient and more electric aircraft (MEA) concept. With the primary functions in the aircraft more powered by electrical system; rather than conventional Pneumatic and hydraulic system aircraft will able to achieve reduced fuel burn, higher reliability, reduction in maintenance cost and more dispatch availability.
Even though the challenges are enormous our modern world has come up with bleed less and efficient system. The industry is witnessing new entrants from emerging economies in narrow body segment, especially from China. Coupled with the increase in orders for existing models and new models and the need for more fuel efficient and greener aircraft the electrical and environmental systems will be charged with opportunities.
Many Research and Development programs are going on in this industry for saving fuel and enhancing operational efficiency.Policies like clear Skies by Europe are also a motivating factor for Electrical components manufacture. The bleed less aircraft by which is using six starter generators instead of three in ordinary aircraft and using electrically-heated elements embedded in leading edges of wings and tail surface deicing system has shown, the intensity in which aircraft manufactures are looking for innovative option for more electrical concept. The increasing in load demand by passengers is also forcing the aircraft manufactures to increase the power generating capacity of aircraft.
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