Aircraft Ignition System Market Rapid Technological Advancements During The Forecast Period

According to a new market report published by Transparency Market Research entitled

“Aircraft Ignition System Market–Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026,” the global aircraft ignition system market was valued at US$ 1,862.8Mn in 2017 and is expected to expand at a CAGR of 5.8% from 2018 to 2026, reaching US$ 3,073.6 Mn by the end of the forecast period. This market growth can be attributed to the increasing number of aircraft deliveries across the globe arising out of increase in air traffic.

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Increasing number of aircraft deliveries across the globe to fuel market growth

One of the prominent reasons for the growth of the aircraft ignition system market is the spike in the number of aircraft deliveries across the globe. According to the General Aviation Manufacturers Association (GAMA) and Market Outlook Report by Boeing, aircraft deliveries of new airplanes is estimated to grow over 30,000 in the next couple of years. Furthermore, the increasing adoption of advanced technologies in aircraft ignition systems is assisting market growth across the globe.