Aircraft Electrical Solid-State Power Controller (SSPC) Market is Expected to Grow at 9.3% During 2022-2027
Aircraft Electrical Solid-State Power Controller (SSPC) market is expected to reach $783.9 million in 2027, growing at a CAGR of 9.3% during 2022- 2027, reports Stratview Research
RAIPUR, India, Feb. 16, 2022 /PRNewswire/ -- Stratview Research, a leading market research firm has launched a report on the Aircraft Electrical Solid-State Power Controller Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
Click Here to get the free sample pdf: https://www.stratviewresearch.com/Request-Sample/2459/aircraft-electrical-solid-state-power-controller-SSPC-market.html#form
How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Aircraft Electrical Solid-State Power Controller market is driven by a host of factors, some of which are noted below:
- Faster operation and high service life expectancy as compared to contactors and circuit breakers.
- Stable long-term demand for Commercial Aircraft.
The report also includes growth rate estimates based upon the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.
Aircraft Electrical Solid-State Power Controller Market Segmentation:
Stratview Research has segmented the market in the following 4 ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- Phase Type (Single Phase and Three Phase)
- Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV)
- Fit Type (Original Equipment and Aftermarket)
- Region (North America, Europe, Asia-Pacific, and Rest of the World).
Aircraft Electrical Solid-State Power Controller Market Insights
Market Trends by Phase Type:
Based on the phase-type, the aircraft electrical SSPC market is classified as single-phase and three-phase systems.
Between system types, three-phase system is expected to remain the dominant segment of the market during the forecast period as these systems require less assembly time and can transmit more power at a lower cost.
Market Trends by Aircraft Type:
Similarly, based on the aircraft type, the market is segmented as commercial aircraft, regional aircraft, general aviation, helicopter, military aircraft, and UAV.
Among these aircraft types, commercial aircraft is expected to remain the dominant as well as the fastest-growing segment of the market during the forecast period.
Commercial aircraft has been under immense pressure due to several setbacks including the grounding of B737Max in 2019 followed by the onset of the pandemic
Despite short-term market challenges, it is estimated that the long-term demand remains sustainable. Boeing, in its outlook 2021-2040, estimates that 43,610 commercial and regional aircraft are likely to be delivered in the next 20 years, assuring a healthy demand in the years to come.
General Aviation and military aircraft are other market segments that are likely to generate sizeable demand for SSPCs in the years to come.
Which region offers the best opportunity and growth?
In terms of regions, North America is expected to remain the largest market for aircraft electrical SSPCs during the forecast period. This is primarily due to the large usage of aircraft for regional, commercial, as well as military applications in the region. Moreover, the regional investments in military aircraft (fighter aircraft and helicopters) are the largest across the globe.
Concurrently, Asia-Pacific is also likely to create significant market opportunities in the upcoming years, driven by the expected rebound in air passenger traffic paired with the opening of assembly plants in the region, mainly in China, Japan, and India.
COVID-19 Impact on the Aircraft Electrical Solid-State Power Controller Market
COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.
To know more about the covid-19 impact, get a free sample report, here:
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed few key players and discussed company profiles of below-given players -
- GE Aviation
- Safran Group
- Collins Aerospace (Raytheon Technologies Corporation)
- TransDigm Group, Inc.
What deliverables will you get in this report?
- In-depth analysis of the Aircraft Electrical Solid-State Power Controller Market.
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
Related reports which might be useful:
1. Avionics and Radio Test Market
2. Aircraft Circuit Breakers Market
About us –
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
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