What is the key driver of the Global Aircraft Ignition System Market?

The market for aircraft ignition systems has been primarily driven by growth in aircraft deliveries and a rise in demand from unmanned aerial vehicles

Global Aircraft Ignition System Market Size, Share, Growth Analysis, By Type(Electronic Ignition System, Magneto Ignition System), By Component(Exciters, Igniters), By Engine Type(Reciprocating Engine, Turbine Engine), By Platform(Fixed-Wing Aircraft, Rotary-Wing Aircraft), By End-User(Aftermarket, Original Equipment Manufacturer (OEM)) - Industry Forecast 2024-2031

Q: What is the Global market size of the Aircraft Ignition System Market?

Global Aircraft Ignition System Market size was valued at USD 375.02 million in 2021 and is poised to grow from USD 391.42 million in 2022 to USD 564.14 million by 2030, growing at a CAGR of 4.4% in the forecast period (2023-2030).

Report ID: SQMIG20S2015 | Region: Global | Published Date: February, 2024
Pages: 284 | Tables: 143 | Figures: 78

Global Aircraft Ignition System Market Insights

Aircraft Ignition System Market size was valued at USD 375.02 million in 2019 and is poised to grow from USD 391.42 million in 2023 to USD 564.14 million by 2031, growing at a CAGR of 4.4% in the forecast period (2024-2031).

The Global Aircraft Ignition System Market is predicted to grow during the forecasted period primarily due to the increase in aircraft deliveries. The growth of commercial aircraft movement due to the increase in air traffic and hence, the increase in the acquisition and leasing of more aircrafts is predicted to accelerate the market growth. For example, in June 2022, Irish aircraft leasing company, Griffin Global Asset Management announced purchase and leaseback of five Boeing 737-8 aircraft with the upcoming airline Akasa Air which will start flying from July end. The growing demand for fuel-efficient aircrafts and technological advancements in the aircraft ignition systems making it more environmentally friendly will drive the market to reduce the carbon emissions produced by flights worldwide. As per the Air Transport Action Group, the globally aviation is responsible for 12% of CO2 emissions from all transport sources as compared to 74% from road transport.

The increased application of unmanned aerial vehicles and growing integration of aircraft ignition systems in them will drive the market. As of May 2022, 865,505 drones were registered in the US as per data released by the Federal Aviation Administration. In addition, the growth of ignition control systems for unmanned aerial vehicles will further expand the market. Overall, the market for aircraft ignition systems is positively impacted by the increase in aviation safety standards, high acceptance of electronic ignition systems, rise in investments through research and development, increase in aircraft acquisition and leasing, rise in the number of commercial aircraft, and rise in consumer disposable income.
The Covid-19 crisis has clearly hampered the growth of the market due to the declared lockdowns and travel restrictions. Research and development in aircraft’s ignition systems was also affected as revenues of the companies were affected. The market for aircraft ignition systems was also influenced directly by the defence budget cuts made by major defence buyers as a result of COVID-19. Higher investments and stringent aircraft system design regulation and complexity are predicted to obstruct the growth of the aircraft ignition system market.

US Aircraft Ignition System Market is poised to grow at a sustainable CAGR for the next forecast year.

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The market is extremely competitive, with participants striving for the biggest share. The businesses in this sector supply original equipment manufacturers (OEMs) and system integrators. Among the most common market methods used are long-term agreements for the delivery of parts and precisely designing these systems to meet client requirements. One of the most important factors taken into account by their customers is receiving compliance certification from various regulatory authorities to guarantee the quality of the product. In a highly competitive market climate, vendors must offer cutting-edge systems to aircraft OEMs if they want to survive. Due to a surge in product/service extensions and technological advancements, the competitive situation in the market is expected to intensify even further. 'Woodward Inc. (US)', 'Unison, LLC (US)', 'Champion Aerospace LLC', 'Meggitt PLC', 'Sky Dynamics Corporation', 'G3I srl', 'Aero Accessories, Inc.', 'Electroair', 'Tempest Plus Marketing Group, Inc.', 'Kelly Aerospace, Inc.', 'Transdigm Group Inc.', 'Denso Corporation', 'SureFly Partners Ltd.', 'Slick Magneto', 'Aerospace Components Inc.', 'Continental Motors Group', 'Hartzell Engine Technologies', 'Beilite Aerospace', 'Brisk USA Spark Plugs', 'Global Aviation Co.'

One of the key reasons propelling the growth of the aircraft ignition system market is the rise in the usage of electronic ignition systems throughout the aircraft industry. The increase in commercial aircraft movement brought on by increased air traffic and the resulting rise in demand for purchasing and leasing more aircrafts speed up market expansion. The market is also influenced by the expanding technological developments in aircraft ignition systems and the growing need for these systems in UAVs. Additionally, the market for aircraft ignition systems is positively impacted by rising aircraft safety requirements, widespread use of electronic ignition systems, growth in commercial aircraft, a rise in consumer disposable income, and an increase in investments.

Increasing need for controlling expanding air traffic to drive aircraft ignition system market. The demand for new aircraft has increased along with the number of commercial flights, which has boosted the market for aircraft ignition systems worldwide. The increase in the number of air travel across the globe is one of the obvious factors driving the growth of the aeroplane start framework market. Additionally, the growing adoption of cutting-edge innovations in aeroplane start frameworks is promoting market growth on a global scale. The primary trend driving the market for airplane start frameworks is the replacement of traditional magneto start frameworks with electronic start frameworks. Over the past few decades, the conventional magneto starts frameworks have gained a larger share of the market. The requirements for airplane motors are, however, rapidly evolving due to advancements in aviation technology. The increased popularity of the next generation hardware start frameworks is due to their smaller size, improved eco-friendliness, increased reliability, and lower support costs. Hence, this is likely to influence the market growth.

North America, Europe, Asia Pacific, and the rest of the world are the regions that make up the aviation ignition system market. In 2021, North America recorded a sizable market share. North America is predicted to maintain its dominance during the forecast period due to the presence of several important OEMs, such as Transdigm Group, Inc., Electroair electronic ignition system (EIS), Woodward Inc., and others. Moreover, the market expansion in North America is being driven by the quick uptake of novel, highly fuel-efficient technology-based systems. During the forecast period, Asia Pacific is anticipated to expand at a substantial growth rate due to the region's growing need for commercial aircraft as a result of the region's rapidly growing air traffic in countries like China, India, and South Korea. During the years forecasted years, the rest of the world's economy would expand slowly due to fewer commercial aircraft deliveries as a result of COVID-19's global expansion.

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