The aircraft ignition system market size is expected to reach US$ 596.28 million by 2028; registering at a CAGR of 5.4% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Rising Aircraft Engine Orders to Provide Growth Opportunities for Aircraft Ignition System Market During 2022–2028
An ignition system is completely separate from the airplane's electrical system. Two types of ignition systems are available in the market electric ignition systems and magneto ignition systems. The magneto ignition system is used on most reciprocating aircraft engines, while an electric ignition system is used to ignite air fuel by providing heat in the form of a spark for ignition. As an electric ignition system is more fuel efficient and delivers better engine efficiency, its demand is increasing in the aircraft ignition system market.
Aircraft Ignition System Market — by Region, 2022
Aircraft Ignition System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Electric Ignition and Magneto Ignition), Component (Ignition Leads, Igniters, Spark Plugs, Exciters, and Others), and Engine Type (Turboprop Engine, Turbofan Engine, Turbojet Engine, and Piston Engine)
Aircraft Ignition System Market Size, Statistics Report 2022, 2028
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Source: The Insight Partners Analysis
The growing aircraft production worldwide is one of the key factors fueling the deployment of aircraft engines. In addition, technological advancements in aircraft ignition systems and the rising adoption of fully authority digital engine control (FADEC) systems are contributing to the aircraft ignition system market growth. Most of the narrow-body and wide-body airplanes—such as the A320 family, A350, B737 family, B777X, and B787 family—use different types of engines that are compatible with FADEC systems. In July 2021, Pratt & Whitney, a Raytheon Technologies business, announced that it received orders for more than 800 units of GTF engines from different aircraft manufacturers. Such a rise in the number of engine orders across the world for the production of new aircraft is further creating an opportunity for the aircraft ignition system industry players. Thus, the rise in engine orders is also fueling the demand for aircraft ignition systems leading to its aircraft ignition system market growth.
The growing production of piston engine aircraft models is driving the demand for magneto aircraft ignition systems across the world. Cirrus SR22-G6 Turbo, Cessna 303, Cessna 310, Cessna 320, and Cessna Skyhawk are among the major piston engine-based aircraft that have been generating a high demand for the Continental series of aircraft piston engines such as O-300 and O-520. These engines are compatible with magneto aircraft ignition systems.
Further, the rise in aircraft production for future deliveries is expected to propel the demand for aircraft ignition systems worldwide, which is also catalyzing the current aircraft fleet of around 25,500 aircraft. According to the Boeing and Airbus forecasts, there will be around 24,000 new commercial aircraft delivered by the end of 2041, which will also generate new opportunities for engine deployment and ignition systems across the world during the forecast period as well.
The global aircraft ignition system market players include 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, and Continental Aerospace Technologies Inc. Strategic initiatives by these companies to expand their geographic presence and product portfolio are contributing to the aircraft ignition system market growth.
The major stakeholders in the global aircraft ignition system market ecosystem include component providers, ignition system manufacturers, and end users. The component manufacturers operating in the market offer batteries, distributor caps, rotors, ignition coils, spark plugs, ignition modules, etc. The aircraft ignition system market has many small players engaged in the component business, collectively holding a significant share of the global market. They are also involved in R&D activities for developing new technologies. The end users are the final stakeholders in the value chain of the aircraft ignition systems market. These include engine manufacturers (General Electric, Rolls-Royce, Pratt & Whitney, etc.), OEMs (Airbus, Boeing, Bombardier, etc.), aircraft MROs (AAR Corporation, Aviation Technical Services, Airbus SAS, etc.), and military forces.
The presence of market vendors such as Champion Aerospace Inc, FADEC International LLC, and Meggitt SA that have larger aircraft market share is acting another major factor possessing higher competitive rivalry in the market. Moreover, major vendors are focusing on acquiring emerging players that have a very limited aircraft ignition system market share. This is also leading to market consolidation among the major vendors.
The aircraft ignition system market size is derived by type, component, and engine type segments. In terms of type, the market is bifurcated into electric ignition and magneto ignition. From component point of reference, the market is categorized into ignition leads, igniters, spark plugs, exciters, and others. Based on engine type, the aircraft ignition system market is divided into turboprop, turbofan, turbojet, and piston engine.
Champion Aerospace Inc, FADEC International LLC, Meggitt SA, Kelly Aerospace Inc, and Continental Aerospace Technologies Inc are a few key aircraft ignition system market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the market size and its ecosystem. The market report provides detailed market insights, which helps the aircraft ignition system market players strategize their growth.
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