Aircraft Ignition System Market Size, Share, Growth Analysis, By Type (Electronic Ignition System, Magneto Ignition System), By Component (Exciters, Igniters), By Engine Type (Reciprocating Engine, Turbine Engine), By Platform, By End-User, By Region - Industry Forecast 2024-2031

Global Aircraft Ignition System Market size was valued at USD 375.02 million in 2022 and is poised to grow from USD 391.52 million in 2023 to USD 552.53 million by 2031, growing at a CAGR of 4.4% during the forecast period (2024-2031). 

The Global Aircraft Ignition System Market is predicted to grow during the forecasted period primarily due to the increase in aircraft deliveries. The growth of commercial aircraft movement due to the increase in air traffic and hence, the increase in the acquisition and leasing of more aircrafts is predicted to accelerate the market growth. For example, in June 2022, Irish aircraft leasing company, Griffin Global Asset Management announced purchase and leaseback of five Boeing 737-8 aircraft with the upcoming airline Akasa Air which will start flying from July end. The growing demand for fuel-efficient aircrafts and technological advancements in the aircraft ignition systems making it more environmentally friendly will drive the market to reduce the carbon emissions produced by flights worldwide. As per the Air Transport Action Group, the globally aviation is responsible for 12% of CO2 emissions from all transport sources as compared to 74% from road transport.

The increased application of unmanned aerial vehicles and growing integration of aircraft ignition systems in them will drive the market. As of May 2022, 865,505 drones were registered in the US as per data released by the Federal Aviation Administration. In addition, the growth of ignition control systems for unmanned aerial vehicles will further expand the market. Overall, the market for aircraft ignition systems is positively impacted by the increase in aviation safety standards, high acceptance of electronic ignition systems, rise in investments through research and development, increase in aircraft acquisition and leasing, rise in the number of commercial aircraft, and rise in consumer disposable income.
The Covid-19 crisis has clearly hampered the growth of the market due to the declared lockdowns and travel restrictions. Research and development in aircraft’s ignition systems was also affected as revenues of the companies were affected. The market for aircraft ignition systems was also influenced directly by the defence budget cuts made by major defence buyers as a result of COVID-19. Higher investments and stringent aircraft system design regulation and complexity are predicted to obstruct the growth of the aircraft ignition system market.

US Aircraft Ignition System Market is poised to grow at a sustainable CAGR for the next forecast year.