The aircraft ignition system market is expected to grow to US$ 596.28 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.
With the surge in passenger traffic, aircraft production is likely to receive notable orders from major airliners. According to CAPA - Centre for Aviation, Airbus and Boeing are expected to deliver around 1,000 commercial aircraft by the end of 2022. They collaboratively delivered ~763 commercial aircraft worldwide till Q3 of 2022 and are likely to deliver over 200 units by the end of 2022 which is further expected to catalyze the aircraft ignition system market size. Some of the major contracts and developments in the aircraft ignition system market are mentioned below:
Thus, the rising orders for aircraft engines and increasing in-service engine volume due to expanding aircraft fleet are speculated to generate an opportunity for aftermarket overhaul replacement in the aircraft ignition system market and expected to catalyze the aircraft ignition system market growth during the forecast period as well.
However, with several reforms and precautionary measures to tackle the outburst of COVID-19, aviation authorities, airlines, and ignition system providers foresee strong growth in the APAC aviation industry in the coming future. Due to this, several airlines are ordering newer aircraft models, which is expected to catalyze aircraft ignition system market growth during the forecast period. According to Airbus, Asia Pacific will require 17,620 new passenger and freighter aircraft by 2040. Nearly 30% of these will replace older less fuel efficient models due to the retirement of older less fuel efficient aircraft. CFM International was selected by IndiGo to supply its engines for total 310 new Airbus A320 aircraft family. Such strategic activities would drive aircraft ignition system market growth in region during the forecast period.
The demand for aircraft is high in North America due to actively proliferating commercial, general, and defense aviation industries in the major countries. Boeing delivered 157 and 340 commercial aircraft in 2020 and 2021, respectively. With a surge in the manufacturing of aircraft, the demand for aircraft engines is also increasing, thereby propelling the need for engine components, such as ignition systems, cylinders, vacuum pumps, carburetors, and alternators. North America is home to several engine manufacturers involved in the manufacturing of turboprop, turbofan, turbojet, and piston engines. A few of the aircraft engine manufacturers headquartered in the region include General Electric Company, Honeywell International Inc., Williams International, and Pratt & Whitney. These companies are entering into several contracts for supplying engines to commercial and military aircraft manufacturers which in turn is generating new opportunities for aircraft ignition system market players. For example, in November 2021, General Electric Company received a contract worth US$ 1.57 billion from the US Air Force to supply 29 USAF F-15EX jet engines, with the expected commencement of deliveries from 2023 onward. Additionally, as per the contract, the engine manufacturer would supply 329 additional engines to the air force in the final delivery phase in 2031. Thus, a rise in engine manufacturing is bolstering the aircraft ignition system market size in North America.
Some of the key global aircraft ignition system market players that are profiled in the market study include Champion Aerospace Inc, FADEC International LLC, Meggitt SA, Kelly Aerospace Inc, and Continental Aerospace Technologies Inc.
The overall aircraft ignition system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the aircraft ignition system market. The process also serves the purpose of obtaining an overview and forecast of the aircraft ignition system market size with respect to all aircraft ignition system market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants typically involved in this process include VPs, business development managers, aircraft ignition system market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the aircraft ignition system market.
With the surge in passenger traffic, aircraft production is likely to receive notable orders from major airliners. According to CAPA - Centre for Aviation, Airbus and Boeing are expected to deliver around 1,000 commercial aircraft by the end of 2022. They collaboratively delivered ~763 commercial aircraft worldwide till Q3 of 2022 and are likely to deliver over 200 units by the end of 2022 which is further expected to catalyze the aircraft ignition system market size. Some of the major contracts and developments in the aircraft ignition system market are mentioned below:
- In July 2022, Delta Air Lines announced that they had ordered CFM International LEAP-1B engines to power the new fleet of Boeing 737 aircraft. The order also included spare engines and an option to purchase around 60 additional engines.
- In August 2021, Indian Ministry of Defence announced that Hindustan Aeronautics Ltd (HAL) had ordered 99 engines worth US$ 716 million for the indigenous light combat aircraft (LCA).
- In July 2021, Pratt & Whitney, a Raytheon Technologies business, announced to have received an order of more than 800 units of GTF engines from different customers. Out of these, AerCap had ordered GTF Engines for 80 Airbus A320neo Family Aircraft.
- In January 2021, GE Aviation announced that to have received a contract worth US$ 111.9 million from the US Naval Air Systems Command (NAVAIR) for T408 engine to power a heavy-lift helicopter, the Sikorsky CH-53K King Stallion.
Thus, the rising orders for aircraft engines and increasing in-service engine volume due to expanding aircraft fleet are speculated to generate an opportunity for aftermarket overhaul replacement in the aircraft ignition system market and expected to catalyze the aircraft ignition system market growth during the forecast period as well.
COVID-19 Pandemic Impact on Aircraft Ignition System Market
The COVID-19 pandemic disrupted the economy of Asia Pacific and the aircraft ignition system market in the region. The region witnessed a significant decline in air transportation since the beginning of the pandemic. From the aircraft manufacturing and assembly viewpoint, China is one of the leading aerospace manufacturing countries in the region. Also, it had been one of APAC's most affected countries during Q1-Q2 of 2020. Therefore, production facilities have witnessed severe conditions in aircraft and ignition system facilities. Airbus and Boeing manufacturing facilities in China were shut temporarily for a longer period, which hampered the demand for aircraft ignition systems. All these factors negatively affected the aircraft ignition system market growth in Asia Pacific.However, with several reforms and precautionary measures to tackle the outburst of COVID-19, aviation authorities, airlines, and ignition system providers foresee strong growth in the APAC aviation industry in the coming future. Due to this, several airlines are ordering newer aircraft models, which is expected to catalyze aircraft ignition system market growth during the forecast period. According to Airbus, Asia Pacific will require 17,620 new passenger and freighter aircraft by 2040. Nearly 30% of these will replace older less fuel efficient models due to the retirement of older less fuel efficient aircraft. CFM International was selected by IndiGo to supply its engines for total 310 new Airbus A320 aircraft family. Such strategic activities would drive aircraft ignition system market growth in region during the forecast period.
The demand for aircraft is high in North America due to actively proliferating commercial, general, and defense aviation industries in the major countries. Boeing delivered 157 and 340 commercial aircraft in 2020 and 2021, respectively. With a surge in the manufacturing of aircraft, the demand for aircraft engines is also increasing, thereby propelling the need for engine components, such as ignition systems, cylinders, vacuum pumps, carburetors, and alternators. North America is home to several engine manufacturers involved in the manufacturing of turboprop, turbofan, turbojet, and piston engines. A few of the aircraft engine manufacturers headquartered in the region include General Electric Company, Honeywell International Inc., Williams International, and Pratt & Whitney. These companies are entering into several contracts for supplying engines to commercial and military aircraft manufacturers which in turn is generating new opportunities for aircraft ignition system market players. For example, in November 2021, General Electric Company received a contract worth US$ 1.57 billion from the US Air Force to supply 29 USAF F-15EX jet engines, with the expected commencement of deliveries from 2023 onward. Additionally, as per the contract, the engine manufacturer would supply 329 additional engines to the air force in the final delivery phase in 2031. Thus, a rise in engine manufacturing is bolstering the aircraft ignition system market size in North America.
Some of the key global aircraft ignition system market players that are profiled in the market study include Champion Aerospace Inc, FADEC International LLC, Meggitt SA, Kelly Aerospace Inc, and Continental Aerospace Technologies Inc.
The overall aircraft ignition system market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the aircraft ignition system market. The process also serves the purpose of obtaining an overview and forecast of the aircraft ignition system market size with respect to all aircraft ignition system market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. The participants typically involved in this process include VPs, business development managers, aircraft ignition system market intelligence managers, national sales managers, and external consultants - such as valuation experts, research analysts, and key opinion leaders - specializing in the aircraft ignition system market.
Table of Contents
1. Introduction
3. Research Methodology
4. Aircraft Ignition System Market Landscape
5. Aircraft Ignition System Market - Key Market Dynamics
6. Aircraft Ignition System Market - Global Market Analysis
7. Aircraft Ignition System Market Analysis - By Type
8. Aircraft Ignition System Market Analysis - By Component
9. Aircraft Ignition System Market Analysis - By Engine Type
10. Aircraft Ignition System Market - Geographic Analysis
11. Aircraft Ignition System Market - COVID-19 Impact Analysis
12. Industry Landscape
13. COMPANY PROFILES
14. Appendix
List of Figures
Companies Mentioned
- Sonex LLC
- Champion Aerospace Inc
- Electroair Acquisition Corp
- PBS Group AS
- Tempest Aero Group LLC
- Surefly Partners Ltd
- Unison Industries LLC
- FADEC International LLC
- Kelly Aerospace Inc
- Continental Aerospace Technologies Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 161 |
| Published | December 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 433.75 Million |
| Forecasted Market Value ( USD | $ 596.28 Million |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
