CHICAGO, June 30, 2022 /PRNewswire/ — According to the report “Aircraft Generators Market by Current Type (AC, DC), Type (VSCF, IDG, APU, Starter Generator), Power Rating, Aircraft Technology, Platform (Fixed-wing, Rotary-wing), End Use (OEM, Aftermarket) and Region – Global Forecast to 2027”, published by MarketsandMarkets™, the global market is projected to grow from USD 5.2 billion in 2022 to USD 7.3 billion by 2027, at a CAGR of 7.1% during the forecast period. The constant growth of air traffic, the demand for performance optimization, and the need to decrease both, operating and maintenance costs have encouraged the aircraft industry to move toward more electric solutions. As a result of this trend, electric power required onboard aircraft has significantly increased through the years, causing major changes in electric power system architectures.
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The Fixed-wing Segment is estimated to lead the aircraft generator market in 2022
Based on Platform, the Fixed-wing segment of the aircraft generator market is accounted for the largest share during the forecast period. The increasing air traffic is contributing to the need for commercial fixed-wing aircraft across regions. This is one of the factors contributing to the growth in fixed-wing segment.
The VSCF segment is expected to grow at the highest CAGR during the forecast period
Based on type, the variable speed constant frequency segment accounted for the largest growth of the aircraft generator market in 2022. The VSCF system is a more flexible system compared to CSD/IDG systems since its components can be distributed across the aircraft. This is one of the main factor driving the demand for such generator type.
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Asia Pacific Region is expected to witness largest growth in the forecast period
Asia Pacific Region is witnessing highest growth among all the regions. Asia Pacifc countries like China, India, Japan among other countries are scaling up the in house production of aircraft. These countries are also witnessing growing air traffic, which is contributing to increasing fleet sizes in this region. The increasing fleet size will also contribute to aftermarket services in these region. These factors are expected to drive market growth in these regions.
Key players operating in the aircraft generator market include Honeywell (US), General Electric (US), Collins Aerospace (US), Safran (France), Thales Group (France) among other solution, service and equipment providers. These players offer comprehensive solution to key stakeholders in the market.
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