Press release
Aircraft Ignition System Market report explores the huge growth in future scope 2022-2028
Aircraft Ignition System Market
This research report provides insights into the "Aircraft Ignition System Market." This report summarizes the results of the assessment carried out by Business Market Insights in the field of the Benefits Management Platform for the global perspective. The report provides an analysis of the Benefits Aircraft Ignition System Market by deployment, application, and geography.
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The List of Companies
- 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
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..
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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.
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TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Production of Aircraft
5.1.2 Rising Adoption of FADEC Systems
5.2 Market Restraints
5.2.1 Discontinuation of Quadjet Production
5.2.2 Introduction of Electric Aircraft
5.3 Market Opportunities
5.3.1 Future Engine Orders to Propel Ignition System Demand
5.4 Future Trends
5.4.1 Product Development and Expansion of Distribution Channels
5.5 Impact Analysis of Drivers and Restraints
6. Global Market Analysis
6.1 Global Overview
6.2 Forecast and Analysis
6.3 Market Positioning- Top Five Players
6.4 Competitive Benchmarking
6.4.1 Competitive Benchmarking
6.5 Growth Matrix
7. By Type
7.1 Overview
7.2 by Type (2021 & 2028)
7.3 Electric Ignition
7.3.1 Overview
7.3.2 Electric Ignition: Revenue and Forecast to 2028 (US$ Million)
7.4 Magneto Ignition
7.4.1 Overview
7.4.2 Magneto Ignition: Revenue and Forecast to 2028 (US$ Million)
8. By Component
8.1 Overview
8.2 by Component (2021 & 2028)
8.3 Ignition Leads
8.3.1 Overview
8.3.2 Ignition Leads: Revenue and Forecast to 2028 (US$ Million)
8.4 Igniters
8.4.1 Overview
8.4.2 Igniters: Revenue and Forecast to 2028 (US$ Million)
8.5 Spark Plugs
8.5.1 Overview
8.5.2 Spark Plugs: Revenue and Forecast to 2028 (US$ Million)
8.6 Exciters
8.6.1 Overview
8.6.2 Exciters: Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Revenue and Forecast to 2028 (US$ Million)
9. Analysis - By Engine Type
9.1 Overview
9.2 by Engine Type (2021 & 2028)
9.3 Turboprop Engine
9.3.1 Overview
9.3.2 Turboprop Engine: Revenue and Forecast to 2028 (US$ Million)
9.4 Turbofan Engine
9.4.1 Overview
9.4.2 Turbofan Engine: Revenue and Forecast to 2028 (US$ Million)
9.5 Turbojet Engine
9.5.1 Overview
9.5.2 Turbojet Engine: Revenue and Forecast to 2028 (US$ Million)
9.6 Piston Engine
9.6.1 Overview
9.6.2 Piston Engine: Revenue and Forecast to 2028 (US$ Million)
Continuedβ¦
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