According to the new research report published by The Insight Partners on "Aircraft Ignition System Market Forecast to 2028 - COVID-19 Impact and Global Analysis," the market is expected to grow at a CAGR of 5.4% from 2022 to 2028 to reach US$ 596.28 million by 2028.
One of the major factors driving the demand for aircraft ignition systems is the higher adoption of electric ignition systems such as fully authority digital engine control (FADEC). The FADEC system is used in an aircraft to decrease pilot's workload by providing details on mechanical problems, as well as portrays engine monitoring capability. This autonomous, self-monitoring, self-operating, and redundant system enables the pilot to monitor fuel economy. It also helps in diagnostic processes that require constant monitoring of crucial processes in an aircraft powerplant, increasing fuel efficiency, and reducing maintenance expenses.
The FADEC system is developed to support both commercial and military aircraft. It is used in majority of aircraft engines, including CFM56-5A, CFM56-5B, CFM56-5C, CF6-80E, CFM56-7B, GE90-115B, and GEnx-1B, across different popular narrow-body and wide-body aircraft models, such as A330, A320, A318, A321, A340, B787, B777, and B737 series. It is a safety-critical system wherein adequate redundancy is configured to provide necessary reliability and availability. Some of the major companies that provide different FADEC solutions are FADEC International and Collins Aerospace. As FADEC system improves fuel efficiency, obtains redundancy in case of failure, provides care-free engine handling, and is used for better systems integration, its adoption in the market is increasing. Hence, all the above factors are propelling the adoption of FADEC systems, which will lead to the aircraft ignition system market growth during the forecast period.
Champion Aerospace Inc, FADEC International LLC, Meggitt SA, Kelly Aerospace Inc, and Continental Aerospace Technologies Inc are among the leading aircraft ignition system market players profiled in the report. These aircraft ignition system market players have a well-established customer base along with diversified product offerings for customers. Further, these players have a large consolidated market share across the global aircraft ignition system market. These companies are acquiring smaller vendors and capturing contracts from various end user customers from emerging countries worldwide.
According to Boeing and Airbus forecasts, more than 24,000 commercial aircraft will be delivered by the end of 2041, which is expected to fuel the demand for next-generation engines requiring digital ignition systems. The growth in aircraft deliveries is boosted due to the surge in production capacities across aircraft OEMs-such as Boeing, Airbus, Lockheed Martin, Bombardier, and ATR-to reduce the backlogs from their respective pipelines. The aircraft OEMs are generating new market opportunities for engine manufacturers, thereby increasing the deployment of new aircraft engine components and driving the aircraft ignition system market growth across the aerospace industry.
The aircraft engine manufacturers are focusing on the development of next-generation engines that are compatible with the electric ignition system and provide better spark to power the engine even at low speed. Also, the reduced emission due to the system makes it environment friendly, in turn, leading to increased production. It increases the engine's efficiency and makes it fuel-efficient compared to magneto ignition system. Moreover, the majority of the fleet of commercial aircraft engines such as Trent 1000 (B787s), Trent XWB (A350s), and CFM56-5A/5B (A320s) use FADEC systems. Thus, the growing production of aircraft and engines is driving the aircraft ignition system market growth.
The aircraft ignition system market size is determined by type, component, and engine type segments. By type, the aircraft ignition system market is bifurcated into electric ignition and magneto ignition. In terms of component, the aircraft ignition system market is categorized into ignition leads, igniters, spark plugs, exciters, and others. Based on engine type, the aircraft ignition system market is segmented into turboprop, turbofan, turbojet, and piston engine.
Key Findings of Study:
The aircraft ignition system market size is expected to witness a healthy growth during the forecast period owing to due to the rise in aircraft and aircraft engine production volumes. Also, the expected aircraft deliveries during the near future are likely to generate new market opportunities for market vendors during the forecast period.
Majority of the aircraft ignition system market players are based in North America, whereas Europe and Asia Pacific have been operating with a comparatively lower number of aircraft ignition system market players.
During the COVID-19 pandemic, the entire aviation industry came to a halt with minimal resources to foresee the future. The outbreak decimated the demand for aircraft globally, which significantly lowered the volumes of orders among aircraft manufacturers. The crisis reduced the production of aircraft. Several aircraft production units in the US, France, Russia, and China were temporarily paused to adhere to the government rules regarding lockdown and physical distancing. Aircraft manufacturers witnessed a 14-15% reduction in the aviation market revenue. The decline in production volumes resulted in a delay in deliveries, which adversely affected the businesses of various component manufacturers and associated technologies. The aircraft engines and ignition systems are two key components of aircraft models. As the aircraft production declined, the aircraft ignition system manufacturers also observed limited demand for their products, which resulted in loss in their revenues. Furthermore, the reduction in commercial aircraft and general aviation deliveries due to the industry crisis caused by the COVID-19 pandemic declined the demand for aircraft ignition systems, which negatively impacted the aircraft ignition system market in 2020.
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