The Aircraft Generators Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aircraft Generators Global Market Report 2024, The aircraft generators market size has grown strongly in recent years. It will grow from $5.43 billion in 2023 to $5.9 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to early aircraft electrification, military aviation requirements, commercial aviation expansion, standardization and regulatory compliance.
The aircraft generators market size is expected to see strong growth in the next few years. It will grow to $7.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rapid growth in aviation sector, electrification of aircraft systems, focus on fuel efficiency and sustainability, increasing demand for lightweight components, integration of hybrid propulsion systems.. Major trends in the forecast period include market shifts due to new aircraft models, integration of sustainable power solution, advancements in power generation technologies, demand for lightweight and compact systems, rise of electric propulsion systems
The increasing demand for air travel is expected to propel the growth of the aircraft generators market going forward. Air travel involves the transportation of passengers or cargo by aircraft through the atmosphere from one location to another location. Aircraft generators play a crucial role in air travel by providing electrical power for various functions such as navigation, intercoms, communication radios, and in-flight entertainment systems. For instance, in March 2023, according to a report published by the Bureau of Transportation Statistics, a US-based government agency, in 2022, US airlines transported 194 million more passengers than in 2021, a 30% increase year on year. From January to December 2022, US airlines handled 853 million passengers (unadjusted), up from 658 million in 2021 and 388 million in 2020. Therefore, the increasing demand for air travel is driving the growth of the aircraft generators market.
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The aircraft generators market covered in this report is segmented –
1) By Type: Variable Speed, Constant Frequency, Auxiliary Power Unit, Starter Generator, Integrated Drive Generator, Alternator
2) By Aircraft Technology: Conventional Aircraft, Hybrid Electric Aircraft
3) By Current Type: Alternating Current (AC), Direct Current (DC)
4) By Platform: Fixed-wing, Rotary-wing
5) By End Use: Original Equipment Manufacturer (OEM), Aftermarket
Major companies operating in the aircraft generator market are focused on developing innovative products, such as high-specific power generators, to maximize revenues in the market. A high-specific power generator is a generator that produces a lot of power for its weight. It is measured in kilowatts per kilogram (kW/kg); the higher the specific power, the more power the generator can produce for its weight. For instance, in August 2021, LaunchPoint Electric Propulsion Solutions Inc., a US-based electric and hybrid-electric propulsion and power generation developer, launched LaunchPoint HPS055 GenSet. It is a 5.5kW high-specific power generator and hybrid electric power/engine controller system that makes use of specialized electric machines and GenSet technology to enable long-distance flight. The possibilities for these kinds of aircraft are increased because drones equipped with the 5.5kW GenSet can fly farther and carry more weight than those equipped with other hybrid power system models. The 5.5kW GenSet is now shipping to customers for worldwide security, inspection and mapping, and cargo delivery. It may be used in both military and commercial drones.
The aircraft generators market report table of contents includes:
1. Executive Summary
2. Aircraft Generators Market Characteristics
3. Aircraft Generators Market Trends And Strategies
4. Aircraft Generators Market – Macro Economic Scenario
5. Global Aircraft Generators Market Size and Growth
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26. South America Aircraft Generators Market
27. Brazil Aircraft Generators Market
28. Middle East Aircraft Generators Market
29. Africa Aircraft Generators Market
30. Aircraft Generators Market Competitive Landscape And Company Profiles
Top Major Players:
- General Electric Company
- RTX Corporation
- Boeing Co
- Honeywell International Inc
- Safran S.A
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