Selbyville, Delaware, May 18, 2020 (GLOBE NEWSWIRE) --
According to latest report “Aircraft Ignition System Market by Component (Igniters, Ignition Leads, Exciters, Spark Plugs), Engine Type (Turbine, Reciprocating), End-Use (Fixed Wing, Rotary Wing), Ignition System (Electro Ignition System, Magneto Ignition System), Fit (Line, Retro), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of aircraft ignition systems will reach $350 million by 2026.Reducing size of aircraft ignition system and rising adaptability of single model to different engine types will improve market opportunities.
The spark plug segment in aircraft ignition system market is expected to grow at a CAGR of over 6% till 2026. Spark plugs are one of the most important components of engine ignition system, and failure of spark plugs can lead to engine failure. Spark plugs require a specific amount of energy to operate effectively. Low energy can lead to inefficient spark, resulting in inefficient fuel combustion, whereas high energy can lead to overlapping. To avoid such instances, industry participants are engaged in developing aircraft ignition systems with maximum operational efficiency.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/4658
The turbine engine will capture more than 90% of aircraft ignition system market share by 2026. The high market penetration of turbine engines can be attributed to their vast scope of application. There are multiple types of turbine engines available in the market, which are used for aircraft types ranging from narrow body to wide body. Rising demand for commercial aircraft across the globe and increasing YoY aircraft deliveries will support market growth.
The rotary wing segment will observe around 4.5% growth through 2026 owing to gradually rising demand for small aircraft for general aviation and recreational purposes. These types of aircraft feature rotary wings and have limited flying altitude and range. Increasing impact of COVID-19 pandemic is rising the demand for transportation of medical and other essential goods, which is supported by general aviation, positively impacting the market revenue.
Make an Inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/4658
The North America aircraft ignition system market is poised to grow at a CAGR of more than 5% during the forecast timeframe due to presence of major aircraft and component manufacturers. Some of the major aircraft manufacturers present in North America include Boeing, GE Aviation, Textron Aviation, and Bombardier. Increasing backlog forcing companies to increase their pace of deliveries will also have a positive impact on market outlook.
Some major findings of the aircraft ignition system market report include:
- Lightweight, low cost, compact, and rugged aircraft ignition models will experience slightly high market penetration.
- Regulatory reforms and requirement of quality and airworthiness approval from various international regulatory bodies are a few major factors defining the market trend.
- Simple mounting, light rotating parts, moisture & fire resistance, and resistance to vibrations are some of the major technological developments, which will be witnessed over coming years.
- Integration of micro-controllers and other electronics components to improve operational efficiency will positively impact the market.
- The electronic ignition systems will witness maximum growth of over 5% between 2020 and 2026.
- Sudden outbreak of COVID-19 will negatively impact the market. Sudden decline in air travel except for medical and emergency services has significantly dropped the requirement of aircraft ignition system.
- The market statistics is expected to rapidly improve post-pandemic to cater the market gap in trade and essential supplies created by trade restrictions due to coronavirus pandemic.
Table of Contents (ToC) of the report:
Chapter 3. Aircraft Ignition System Market Insights
3.1. Introduction
3.2. Industry segmentation
3.3. Impact of COVID-19
3.4. Industry landscape, 2015 - 2026
3.5. Evolution of aircraft ignition system technology
3.6. Industry ecosystem analysis
3.7. Technology & innovation landscape
3.8. Regulatory landscape
3.8.1. North America
3.8.2. Europe
3.8.3. APAC
3.8.4. LATAM
3.8.5. MEA
3.9. Industry impact forces
3.9.1. Growth drivers
3.9.2. Industry pitfalls & challenges
3.10. Growth potential analysis
3.11. Porter's analysis
3.12. PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/aircraft-ignition-system-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.