Aircraft Electrical Conversion Systems market size likely to grow at a CAGR of 7.7% during 2021-2026.

01 Apr 2023

The Aircraft Electrical Conversion Systems market size is likely to grow at a CAGR of 7.7% during 2021-2026, to reach US$ 1.1 billion in 2026, states Stratview Research. a global market research firm has launched a report on the Aircraft Electrical Conversion Systems Market which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

Segment Insights on Aircraft Electrical Conversion Systems MarketThe global Aircraft Electrical Conversion Systems market is segmented based on component type, aircraft type, and region.Based on component type - The market is classified as transformers, AC-DC converters (TRU & ATRU), and DC-AC Converters (inverters). Among these components, transformers are expected to remain the largest segment of the market and it will hold a revenue share of more than 50% during the forecast period.Based on aircraft type - The market is segmented into commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAVs. Among these aircraft types, commercial aircraft is expected to remain the most dominant as well as the fastest-growing aircraft type in the market and it will hold a revenue share of more than 50% during the forecast period.

Commercial aircraft alone generate the demand for more than half of the electrical conversion systems used in the aircraft industry. The aircraft type is currently going through one of its hardest times with multiple setbacks. However, the industry stakeholders are accustomed to such breathtaking market conditions and have learned the art to sail through the crisis.