Aircraft Ignition System Market Research Report and Outlook by 2028

The aircraft ignition system sector is projected to reach a value of US$ 596.28 million by 2028, with an anticipated compound annual growth rate (CAGR) of 5.4% from 2022 to 2028.

The increase in passenger traffic is expected to lead to significant orders for aircraft from major airlines. According to the CAPA - Centre for Aviation, Airbus and Boeing are on track to deliver approximately 1,000 commercial aircraft by the close of 2022. By the third quarter of 2022, they had already delivered around 763 commercial aircraft globally and are expected to complete the delivery of over 200 additional units by year-end, which is likely to boost the aircraft ignition system market. Below are some notable contracts and developments within the aircraft ignition system sector:

- In July 2022, Delta Air Lines revealed an order for CFM International LEAP-1B engines to equip its new fleet of Boeing 737 aircraft. This order also included spare engines and an option for an additional 60 engines.

- In August 2021, the Indian Ministry of Defence announced that Hindustan Aeronautics Ltd (HAL) had placed an order for 99 engines valued at US$ 716 million for its indigenous light combat aircraft (LCA).

- In July 2021, Pratt & Whitney, a division of Raytheon Technologies, announced it had secured an order for over 800 GTF engines from various customers, including AerCap, which ordered GTF engines for 80 Airbus A320neo Family aircraft.

- In January 2021, GE Aviation disclosed a contract worth US$ 111.9 million from the US Naval Air Systems Command (NAVAIR) for the T408 engine, intended for the heavy-lift Sikorsky CH-53K King Stallion helicopter.

The increasing demand for aircraft engines and the growing number of in-service engines due to an expanding fleet are expected to create opportunities for aftermarket overhaul replacements in the aircraft ignition system market, further driving growth during the forecast period.

Impact of the COVID-19 Pandemic on the Aircraft Ignition System Market

The COVID-19 pandemic significantly impacted the economy of the Asia Pacific region and the aircraft ignition system market therein. The region experienced a considerable drop in air travel since the onset of the pandemic. From a manufacturing perspective, China stands out as a leading aerospace manufacturing hub in the region and was one of the most affected countries during the first half of 2020. Consequently, production facilities faced severe challenges, particularly in aircraft and ignition system manufacturing. Both Airbus and Boeing's facilities in China were temporarily closed for extended periods, adversely affecting the demand for aircraft ignition systems. These factors collectively hindered the growth of the aircraft ignition system market in the Asia Pacific region.

Nevertheless, with various reforms and safety measures implemented to combat the COVID-19 outbreak, aviation authorities, airlines, and ignition system manufacturers anticipate robust growth in the APAC aviation sector in the near future. As a result, numerous airlines are placing orders for new aircraft models, which is expected to stimulate growth in the aircraft ignition system market during the forecast period. According to Airbus, the Asia Pacific region will require 17,620 new passenger and freighter aircraft by 2040, with nearly 30% of these needed to replace older, less fuel-efficient models due to the retirement of outdated aircraft. CFM International has been selected by IndiGo to provide engines for a total of 310 new Airbus A320 aircraft family, indicating strategic moves that will enhance the growth of the aircraft ignition system market in the region during the forecast period.

In North America, the demand for aircraft remains high, driven by the thriving commercial, general, and defense aviation sectors in key countries. Boeing delivered 157 and 340 commercial aircraft in 2020 and 2021, respectively. The increase in aircraft manufacturing has led to a corresponding rise in demand for aircraft engines, thereby boosting the need for engine components such as ignition systems, cylinders, vacuum pumps, carburetors, and alternators. North America hosts several engine manufacturers that produce turboprop, turbofan, turbojet, and piston engines. Notable aircraft engine manufacturers in the region include General Electric Company, Honeywell International Inc., Williams International, and Pratt & Whitney. These companies are entering into various contracts to supply engines to both commercial and military aircraft manufacturers, creating new opportunities for players in the aircraft ignition system market. For instance, in November 2021, General Electric Company secured a contract worth US$ 1.57 billion from the US Air Force to supply 29 F-15EX jet engines, with deliveries expected to commence in 2023. Additionally, the contract includes the provision of 329 more engines to the air force in the final delivery phase by 2031. Thus, the increase in engine manufacturing is positively impacting the aircraft ignition system market size in North America.

Key global players in the aircraft ignition system market include Champion Aerospace Inc, FADEC International LLC, Meggitt SA, Kelly Aerospace Inc, and Continental Aerospace Technologies Inc.

The overall size of the aircraft ignition system market has been determined through both primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the aircraft ignition system market. This approach also aimed to provide an overview and forecast of the market size across all segments. Additionally, multiple primary interviews were conducted with industry participants to validate the data and gain further analytical insights. Participants typically included VPs, business development managers, market intelligence managers, national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the aircraft ignition system market.