August 28, 2020
According to the research report titled ‘Aircraft Ignition System Market Size By Component, By Engine Type, By End-Use, By Ignition System, By Fit Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026’, available with Market Study Report LLC, global aircraft ignition system market is expected to register substantial growth during 2020-2026.
Technological advancements in aerospace sector is a major factor driving the growth of global aircraft ignition system market. Ignition systems play an important role in delivering an electrical spark in order to ignite the fuel in the engine cylinders.
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In fact, aircraft ignition technology such as a magneto system is widely used in reciprocating aircraft engines since these systems are primarily self-contained engine powered units which provide electrical current without the need of an external source. Besides this, technological advancements have allowed for development of innovative materials which address issues associated with high-tension magneto systems.
As per component type, aircraft ignition system industry is segmented into exciters, spark plugs, ignition leads, and igniters. The report cites that igniters segment is predicted to showcase high CAGR through 2026. Advancements in technology and availability of modernized igniters have led to improvement in their operational efficiency as well as lifecycle, thereby fueling the segmental growth.
On the other hand, ignition leads segment is expected to account for a considerable market share by the year 2026. These components offer multi-purpose operations in order to provide high tension voltage to the spark plug, which also protects other electrical parts of the aircraft from magnetic field.
Considering the geographical landscape, Latin America aircraft ignition system industry is estimated to generate significant revenues by the year 2026. Focus among North American companies towards establishing their aircraft manufacturing units across the region is favoring the market outlook in LATAM.
Meanwhile, Middle East & Africa market is slated to record high CAGR during the estimated timeframe. Flourishing tourism and increasing aerial recreational activities have impelled the demand for new aircraft models, which in turn is facilitating the business scenario in the region.
The prominent companies operating in global aircraft ignition system market are Woodward Inc., Unison Industries Ltd., TransDigm Group Incorporated, SureFly Technologies - Moog Inc., Sky Dynamics Corporation, Meggitt plc, Electroair Electronic Ignition Systems, and Champion Aerospace LLC among others.