Advancements in high-density battery solutions for electric aircraft Driving the Growth of Aircraft Electrical Systems Market

(IT-NEWSWIRE.COM, March 21, 2020 ) The aircraft electrical systems market is projected to grow from USD 29.9 billion in 2017 to USD 41.7 billion by 2025, at a CAGR of 5.67% during the forecast period from 2017 to 2025. This report covers the forecast of the aircraft electrical systems market and its dynamics over the next five years, while also recognizing the application gaps and recent developments in the aircraft electrical systems market, along with the identification of high potential countries. Advancement in high density battery solutions for electric aircraft and optimized aircraft performance through the use of more electric technology are the major factor that is expected to drive the aircraft electrical systems market in the coming years.

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Advancements in high-density battery solutions for electric aircraft

The aircraft electrical systems market is driven by multiple factors, such as improvement in the network of commercial aviation, increasing number of air passengers, burgeoning tourism sector, and innovation of fuel-efficient aircraft. Governments in various countries, such as India, China, Brazil, and the UK, have taken initiatives to boost the non-traditional aircraft market by reducing taxes and R&D investments in electric aircraft. Li-ion batteries have driven the market by offering a higher cranking voltage, no gassing or oxidization, and less toxicity. Advanced applications in an aircraft tend to consume more power, needing batteries to have high power storage and improved safety features.

According to Tesla CEO Elon Musk, the development of an aircraft battery with a power density of 400 Wh/kg will rapidly boost the aircraft electrical systems market. Solid-state batteries are an innovative solution for the aviation industry and are likely to be adopted for the operation of aircraft electrical systems by 2045. Various types of solid-state batteries, such as magnesium-based batteries, lithium-based batteries, and sodium-ion batteries, offer various advantages, including long life cycles and increased energy density. Development and commercial production of these batteries can boost the aircraft electrical systems market over the forecast period.

North America is expected to lead the market for aircraft electrical systems during the forecast period.

North America is estimated to account for the largest share of the aircraft electrical systems market in 2019. Huge investments in research and development of more electric aircraft and increasing demand for fuel-efficient and low-maintenance aircraft are factors driving the growth of the market in this region. Recent advances in technology have allowed Boeing to incorporate a new no-bleed systems architecture in the 787 Dreamliner that eliminates the traditional pneumatic system and bleed manifold, converting the power source of most functions formerly powered by bleed air to electric power, which includes air-conditioning packs and wing anti-ice systems.

Some of the major vendors in the aircraft electrical systems market include Amphenol Corporation (US), Esterline Technologies (US), AMETEK (US), Honeywell (US), and Astronics Corporation (US).

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Advancements in high-density battery solutions for electric aircraft Driving the Growth of Aircraft Electrical Systems Market