Report : North America Aircraft Ignition System Market Forecast to 2028 - COVID-19 Impact and Regional 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)
At 4.7% CAGR, the North America Aircraft Ignition System Market is speculated to be worth US$ 176.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America aircraft ignition system market was valued at US$ 134.21 million in 2022 and is expected to reach US$ 176.89 million by 2028, registering a CAGR of 4.7% from 2022 to 2028. Growing production of aircraft and growing adoption of fully authority digital engine control (FADEC) systems are the critical factors attributed to the North America aircraft ignition system market expansion.
Commercial airlines experienced a significant rise in the annual air passenger volume until early 2020. The aircraft manufacturing industry witnessed constant pressure from the commercial aviation sector to deliver the required volume of aircraft fleet of various models to accommodate more travelers. The growing demand for aircraft models among the commercial airlines is attributed to the increasing number of low-cost carriers (LCCs) and fleet expansion strategies adopted by full-service carriers. Aircraft manufacturers, such as Airbus and Boeing, are receiving increasing order volumes and adding a substantial number of LCCs to their fleets. Currently, the demand for wide-body and narrow-body aircraft fleet is high. However, the inclination toward long-range, narrow-body type is increasing as most commercial aviation companies are focusing on enlarging fleet size and lowering operational costs. The demand for charter operations is growing across different countries. Charter operators are constantly expanding their routes and adding new aircraft models to their fleets due to growing need for non-scheduled business travel. This bolstered the demand for business jets and turboprops across the region. Besides, the demand for light-sport and trainer aircraft remained high. The rising interest of millennials in aircraft pilot training is also propelling the demand for general aviation aircraft deliveries across different countries. The aircraft engine manufacturers are manufacturing next-generation engines that are compatible with the electric ignition system and provide better spark to power the engine even at low speed. Also, the reduced emission due to the system makes it environment friendly, in turn, leading to increased production. It increases the engine's efficiency and makes it fuel-efficient compared to magneto ignition system. Thus, the growing production of aircraft and engines is driving the North America aircraft ignition system market growth.
On the contrary, discontinuation of quadjet production hurdles the growth of North America aircraft ignition system market.
Based on component, the North America aircraft ignition system market is segmented into ignition leads, igniters, spark plugs, exciters, and others. The spark plugs segment held 28.7% share of North America aircraft ignition system market in 2022, amassing US$ 38.53 million. It is projected to garner US$ 55.02 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on type, the North America aircraft ignition system market is bifurcated into electric ignition and magneto ignition. The electric ignition segment held 66.9% share of North America aircraft ignition system market in 2022, amassing US$ 89.76 million. It is projected to garner US$ 122.87 million by 2028 to expand at 5.4% CAGR during 2022–2028.
Based on engine type, the North America aircraft ignition system market is segmented into turboprop engine, turbofan engine, turbojet engine, and piston engine. The turbofan engine segment held 42.8% share of North America aircraft ignition system market in 2022, amassing US$ 57.48 million. It is projected to garner US$ 80.41 million by 2028 to expand at 5.8% CAGR during 2022–2028.
Based on country, the North America aircraft ignition system market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 69.6% share of North America aircraft ignition system market in 2022. It was assessed at US$ 93.36 million in 2022 and is likely to hit US$ 125.65 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.
Key players dominating the North America aircraft ignition system market are Champion Aerospace Inc, Continental Aerospace Technologies Inc, Electroair Acquisition Corp, FADEC International LLC, Kelly Aerospace Inc, PBS Group AS, Sonex LLC, Surefly Partners Ltd, Tempest Aero Group LLC, and Unison Industries LLC among others.
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