The aircraft industry is developing the More Electric Aircraft with an ultimate goal of distributing only electrical power across the airframe. Increasing use of Electrical Power is seen as the direction of technological opportunity for aircraft power systems based on rapidly evolving advancements in power electronics, fault tolerant power distribution systems and electrically driven actuators. The market is consolidated to the extent of 70% which makes it a very niche market with a few dominant players. With increasing applications this market is expected to grow to a value of approximately US$ 24 billion by 2017.