According to a new market report published by Transparency Market Research titled “Aircraft Ignition System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026,” the global aircraft ignition system market is expected to reach US$ 3,073.6 Mn by 2026. The market is projected to expand at a CAGR of 5.80% during the forecast period from 2018 to 2026. According to the report, the global aircraft ignition system market will continue to be influenced by the increasing number of aircraft deliveries across the globe coupled with the rising adoption of advance technologies in aircraft systems. Asia Pacific region is projected to be at the forefront of global demand, with the market in the region expanding at a CAGR ofabove 5.6% through 2026.
Electronic segment to be the major revenue generating and fastest growing segment throughout the forecast period
Based on product type, the global aircraft ignition system market is segmented into magneto ignition system and electronic ignition system. The magneto ignition system segment is further bifurcated into high tension magneto system and low tension magneto system. The electronic ignition system segment is expected to expand at the fastest CAGR throughout the forecast period as traditional magneto ignition systems are increasingly being replaced by the latter.
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Aftermarket segment to continue to account for major revenue share
Based on end-user, the market is segmented into OEM and aftermarket. The aftermarket segment can be seen to dominate with a major revenue share in 2017. The need for maintenance and after sales service will also shoot up due to the increase in the number of aircrafts. As a result, the aftermarket segment is expected to witness a healthy growth rate during the forecast period.
North America expected to continue to hold significant share in the overall market
North America is expected to hold highest market share for aircraft ignition systems during the forecast period.This can be attributed to the increasing air traffic in the region in addition to the increase in the number of aircraft deliveries.The market in Asia Pacific is anticipated to be the fastest growing throughout the forecast period. This fast growth can be attributed to the increase in urbanization, growing middle class population, and increase in disposable income of the people especially in India and China which is leading to a spike in air traffic in the region.
Electroair, Generation 3 Ignition, Meggitt PLC, Sky Dynamics Corp., SureFly Partners, LTD., TransDigm Inc. (Champion Aerospace Inc.), Unison LLC, and Woodward, Inc, among others are some of the major players operating inthe aircraft ignition system market profiled in this study. Details such as financials, business strategies, recent developments,product implementation expertise, key contracts, certified professionals,aircraft ignition systemofferings, and other such strategic information pertaining to these players have been duly provided as part of company profiling.
Increasing Need for Controlling Expanding Air Traffic to Drive Aircraft Ignition System Market
Increasing number of commercial flights has propelled the demand for aircraft deliveries, thereby boosting the global aircraft ignition system market. One of the conspicuous purposes behind the development of the airplane start framework market is the spike in the quantity of airplane conveyances across the globe. Besides, the expanding appropriation of cutting edge innovations in airplane start frameworks is helping market development across the globe. The key pattern predominant in the airplane start framework market is the substitution of customary magneto start frameworks with electronic start frameworks. The customary magneto start frameworks have appreciated a more prominent piece of the pie during the most recent few decades. Be that as it may, airplane motor prerequisites are changing quickly because of the progressions in airplane innovation. The new age hardware start frameworks offer smaller structure factor and better eco-friendliness notwithstanding expanded unwavering quality and decreased support cost which is prompting its expanded selection.
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The global aircraft ignition system market is dominated by the turbine engine market based on categorization by engine type, rather than its counterpart, reciprocating engine. This is owing to the increasing use of turbine engines, further attributed to its low maintenance cost, and high performance. In terms of components, the exciters section is holding the largest share on account of the need for replacing spark plugs. Some of the key companies operating in the global aircraft ignition system market include Woodward Inc., Unison LLC., TransDigm Inc., SureFly Partners Ltd., Sky Dynamics Corp., Meggitt PLC., Generation 3 Ignition, Electroair, and others.
North America is expected to hold most noteworthy piece of the pie for airplane start frameworks during the figure time frame. This is credited to the expanding air traffic in the district notwithstanding the expansion in the quantity of airplane conveyances. The market in Asia Pacific is foreseen to be the quickest developing all through the estimate time frame. This quick development can be ascribed to the expansion in urbanization, developing working class populace, and expansion in extra cash of the individuals particularly in India and China which is prompting a spike in air traffic in the area.
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