Aircraft Ignition System Market Size, Future Prospects, Key Opportunities & Revenue Growth with high Valuation by 2029
The global aircraft ignition system market size is anticipated to reach its highest CAGR, majorly on account of improvements in aircraft ignition systems technology. Ignition systems in aircraft are used to initiate ignition through a spark plug in the engine cylinders. The system also facilitates efficient fuel consumption. Fortune Business Insights™ has presented this information in an upcoming report titled, “Aircraft Ignition Systems Market, 2022-2029”. As per the report, aircraft ignition systems are gaining immense popularity due to several reasons. For instance, the development and rapid adoption of electric ignition systems are rising as they have a longer lifespan and can be used in several aircraft.
The aircraft ignition system market refers to the production and sales of systems used to ignite fuel in aircraft engines. The market is witnessing steady growth due to the increasing demand for advanced ignition systems that offer improved reliability and efficiency. Aircraft ignition systems are critical components that ensure smooth engine operation and provide reliable ignition under varying flight conditions. With the rise in air travel and increasing demand for modern commercial and military aircraft, the demand for advanced ignition systems is expected to surge. The market is highly competitive with leading players focusing on product innovation and strategic collaborations to gain a competitive edge.
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The sudden outbreak of the global health crisis has negatively impacted several industries and markets. The requirement for aircraft ignition systems has dropped as the resources are being allocated for strengthening the healthcare sector. As air travel has also declined during the pandemic, the demand for these systems has also declined. Lockdowns, social distancing norms, and curfews are affecting the production levels, and a reduction in revenues can also be witnessed. However, the negative impact of COVID-19 is expected to fade away gradually as economies are trying to return to pre-pandemic levels. It is unclear to comment how long the circumstance may prevail this way. Nonetheless, our research report’s in-depth analysis will you gain a detailed comprehension of this niche market.
Key Players in Aircraft Ignition Systems Market:
- Woodward Inc. (The U.S.)
- Meggit PLC (The U.K.)
- Transdigm Group Inc. (The U.S.)
- Unison LLC (The U.S.)
- Electroair Electronic Ignition System (EIS) (The U.S.)
- Generation 3 Ignition (G3I) (The U.S.)
- SureFly Partners Ltd.
- Air Power Inc. (The U.S.)
- Sky Dynamics Corp. (The U.S.)
- Aero Inc. (The U.S.)
On the basis of its type, the market bifurcates into the magneto ignition system and electronic ignition system. On the basis of its components, the market segments into igniters, exciters, spark plugs, ignition leads, etc. On the basis of engine type, the market divides into turbine engines and reciprocating engines. On the basis of its platform, the market segments into unmanned aerial vehicles, fixed-wing aircraft, and rotary-wing aircraft. On the basis of its end-user, the market fragments into OEM and aftermarket. Geographically, the market is categorized into North America, Europe, Asia Pacific, and the Rest of the World.
The report incorporates PESTLE Analysis and Porters’ Five Forces Analysis for a meticulous study of the market. The report follows an innovative methodology using top-down and bottom-up approaches for an unerring prediction. The report also incorporates PESTLE Analysis for precise analysis of the regional landscape of the market. The report presents information gathered through interviews with multiple stakeholders at regional, country, and global levels. The report also highlights recent industry developments, including key trends, product developments, innovations, etc.
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Drivers & Restraints-
Extensive Use in Unmanned Aerial Vehicles to Propel Market Growth
As the technology in aircraft ignition systems is improving, the adoption of these systems in advanced military aircraft is also rising. Electric ignition systems have experienced an increase in demand due to the mounting application of these systems in unmanned aerial vehicles. Electric ignition systems facilitate better fuel economy and also have a longer lifespan. Since the demand for fuel-efficient aircraft systems is rising, it is expected to propel the aircraft ignition systems market growth as well. The development of lightweight aircraft systems and the integration of these systems is anticipated to generate plenty of growth opportunities.
However, the complications due to aircraft system design regulation are expected to hinder the market growth.
North America to Assert Dominance in Global Market Growth
Huge investments in enhancing the defense infrastructure, the rising adoption of fuel-saving, technologically advanced systems, and the key OEMs like Transdigm Group Inc., Woodward Inc., etc., present in the region are expected to help North America hold a large chunk in the global aircraft ignition systems market share.
The constantly expanding aviation industry in countries like China, South Korea, and India is escalating the demand for commercial vehicles in the region. This is expected to help the Asia Pacific witness significant growth in the forthcoming years.
The Rest of the World anticipates slow growth on account of reduced commercial aircraft deliveries caused by the COVID-19 pandemic.
The global aircraft ignition systems market is fairly consolidated, with key players present at regional and global levels. Product innovations, new launches, and alliances are expected to prevail as key growth strategies in the forthcoming years. For instance, Unison LLC, in June 2019, launched its modern aircraft igniters with improved lifespan and enhanced performance.
- November 2019: Unison LLC signed a long-term contract with Alaska Airlines to provides its state-of-the-art igniter plugs for the CFM56-7 fleet of Alaska Airlines.
- July 2019: Alco Corporation’s subsidiary company, Lycoming Engines, launched its top-class electronic ignition system.
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