Stratview Research has launched a new report, titled Aircraft Circuit Breakers Market segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Helicopter, Military Aircraft, and UAV), by System Type (AC and DC), by Voltage Type (High Voltage, Medium Voltage, and Low Voltage), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, the aerospace industry has been battling with several unforeseen challenges. The grounding of the B737 max first paused the industry growth trajectory, affected the entire value chain for a short period of time. The industry stakeholders were hammering hard to realign the industry wheels on the track but the onset of the pandemic derailed the industry to almost a decade back. Other noticeable setbacks are the temporary halt in the production of B787 and delays in the market entries of B777x, C919, and MC21 that subdued the recovery trajectory. The impact of these challenges has been recorded in an entire aerospace ecosystem including the circuit breaker, a small but extremely useful electrical device. The market for circuit breakers in the aerospace industry recorded a massive decline of over 20% in the year 2020.
However, the industry stakeholders are still optimistic about the quick recovery, close to the year 2024 or 2025. Narrow-body aircraft may record the prompt recovery supported by the increase in the production rate of A320 and A220 paired with the resumption in B737Max deliveries. Furthermore, entries of C919 and MC-21 assist the market to log the faster recovery. On the other hand, wide-body aircraft, the fatty aircraft category, may undergo a couple of more challenging years in the wake of B787 challenges paired with delays in B777x entry. Overall, the aircraft circuit breakers market is likely to grow at a significant CAGR of 7% in the long run to reach a value of US$ 135.1 million in 2026.
Market Segments' Analysis
Based on the Aircraft type, the market is segmented into 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. An expected increase in production rates of key aircraft programs, such as A320 family and A220; re-entry of B737Max; and introduction of variants of existing and upcoming aircraft programs, such as A321XLR, Irkut MC-21, and COMAC C919, are likely to create a strong demand for circuit breakers in the commercial aircraft segment over the next five years. Furthermore, both, Boeing and Airbus, are optimistic about the market recovery and have been projecting over 40,000 commercial and regional aircraft deliveries over the next twenty years, assuring a healthy demand for circuit breakers in the long run.
Based on the end-user type, the aircraft circuit breakers market is classified as AC and DC circuit breakers. The AC circuit breakers segment is expected to remain the larger and the faster growth in the market during the forecast period, owing to the reason that they are the primary source of electrical power in an aircraft.
In terms of region, North America is expected to remain the largest market for aircraft circuit breakers during the forecast period. The region is home to a large number of aircraft manufacturers, driven by a strong supply chain network and extraordinary technological capabilities. The USA is the growth engine of the region's market. Canada, a relatively small market, is also likely to contribute to the region’s market growth, mainly propelled by the A220 assembly base in the country.
Key Players
The following are the key players in the Aircraft Circuit Breakers Market.
· Safran Group
· Collins Aerospace (Raytheon Technologies Corporation)
· Eaton Aerospace
· Sensata Technologies, Inc.
· AMETEK.Inc.
· Crouzet
· Astronics Corporation
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Aircraft Circuit Breakers Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Aircraft Circuit Breakers Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report: here
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Aircraft Circuit Breakers Market
