Aircraft Generators Global Market Report 2024

The aircraft generators market size has grown strongly in recent years. It will grow from $5.43 billion in 2023 to $5.9 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth observed during the historical period can be attributed to early aircraft electrification initiatives, the demands of military aviation, the expansion of commercial aviation, and efforts toward standardization and regulatory compliance.

The aircraft generators market size is expected to see strong growth in the next few years. It will grow to $7.92 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The anticipated growth in the forecast period can be attributed to the rapid expansion of the aviation sector, the ongoing electrification of aircraft systems, a heightened focus on fuel efficiency and sustainability, an increasing demand for lightweight components, and the integration of hybrid propulsion systems. Major trends expected during the forecast period include market shifts driven by the introduction of new aircraft models, the incorporation of sustainable power solutions, advancements in power generation technologies, a growing demand for lightweight and compact systems, and the rise of electric propulsion systems.

The anticipated growth of the aircraft generators market is fueled by the increasing demand for air travel. Air travel, involving the movement of passengers or cargo by aircraft through the atmosphere, relies significantly on aircraft generators for essential functions such as navigation, communication radios, intercoms, and in-flight entertainment systems. A notable increase in air travel demand was reported by the Bureau of Transportation Statistics in March 2023, indicating a 30% year-on-year rise in US airlines transporting 853 million passengers, up from 658 million in 2021 and 388 million in 2020. This surge underscores the pivotal role of aircraft generators, contributing to the market's growth.

The growth trajectory of the aircraft generator market is further propelled by the escalating demand for commercial aircraft. As airlines and cargo carriers strive to expand their fleets to meet the rising air travel and cargo transportation needs, there is a parallel surge in the demand for aircraft components, including generators. In January 2023, Airbus SE reported a notable 8% increase in commercial aircraft deliveries, totaling 661 units to 84 customers in 2022, up from 611 units in 2021. This surge in commercial aircraft demand directly fuels the demand for aircraft generators, driving the overall market growth.

The growth of the aircraft generators market faces challenges due to government regulations. Stringent regulatory frameworks can necessitate changes to existing generators to meet compliance standards, resulting in additional costs for manufacturers. Notably, the Federal Aviation Administration outlined policy measures in November 2021 to drive innovation and achieve ambitious climate goals, potentially impacting the design and usage of aircraft generators in the future. Such regulatory constraints pose hurdles to the growth of the aircraft generators market.

Major players in the aircraft generators market are strategically focusing on innovation to maximize revenues. One such innovation is the development of high-specific power generators, which produce significant power relative to their weight, measured in kilowatts per kilogram (kW/kg). In August 2021, LaunchPoint Electric Propulsion Solutions Inc. introduced the LaunchPoint HPS055 GenSet, a 5.5kW high-specific power generator and hybrid electric power/engine controller system. This technology enhances the capabilities of drones, allowing for extended flight distances and increased payload capacity in both military and commercial applications.

In September 2022, Parker-Hannifin Corporation acquired Meggitt PLC for $7.93 billion. This move enhances Parker-Hannifin Corporation's portfolio and capabilities in motion and control technologies, leveraging Meggitt PLC's expertise in aerospace and defense components, including aircraft generators. These strategic initiatives underscore the industry's commitment to innovation and growth in the aircraft generators market.

Major companies operating in the aircraft generators market report are General Electric Company, RTX Corporation, Boeing Co., Honeywell International Inc., Safran S.A., Thales Group, Ametek Inc., TransDigm Group Inc., Regal Beloit Corporation, Diehl Stiftung & Co. KG, Smiths Group PLC, Woodward Inc., HEICO Corporation, Sinfonia Technology Co. Ltd., Crane Aerospace & Electronics LLC, Astronics Corporation, PBS Aerospace Inc., Dayton-Granger Inc., Calnetix Technologies LLC, Chelton Limited, Aerolec Technology Corporation, Arc Systems Inc., Duryea Technologies Inc., Epropelled Systems Private Limited, Motor Magnetics Inc., Technodinamika Corporation, Plane Power Alternators LLC.

North America was the largest region in the aircraft generators market in 2023. The regions covered in the aircraft generators market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the aircraft generators market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The aircraft generators market consists of sales of ram air turbine (RAT) generators, hydraulic motor generators, brushless generators, and belt-driven generators. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The main types of aircraft generators include variable-speed generators, constant frequency generators, auxiliary power unit generators, starter generators, integrated drive generators, and alternators. A variable-speed generator is capable of adjusting its speed within specific limits through a regulation method that maintains a constant voltage output. These generators are utilized in various aircraft technologies, including conventional and hybrid electric aircraft, and can produce alternating current (AC) or direct current (DC). The platforms involved encompass fixed-wing and rotary-wing aircraft, catering to end users such as original equipment manufacturers and the aftermarket.

The aircraft generators market research report is one of a series of new reports that provides aircraft generators market statistics, including aircraft generators industry global market size, regional shares, competitors with a aircraft generators market share, detailed aircraft generators market segments, market trends and opportunities, and any further data you may need to thrive in the aircraft generators industry. This aircraft generators market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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