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A new two seat airplane can start at 250K and up. Much of that difference in cost is building in reliability. Maybe Chuck will be able to post how they go about it. GliderJohn
Aircraft engines typically run on magnetos, not connected to the aircraft electrical system.
Aircraft are mostly made reliable through simplicity and simple, established techniques, not so much innovation or special details.
Most piston aircraft now days are relegated to hobbists and VFR conditions so unlikely to encounters lots of water
Weather proof automotive connectors have come a long way in the last 20 years or so too. Have a look at the molex style fitted to an 80's Lemans or something of similar era and compare it to any Guzzi that was built in the last 10 years. Things that used to have moving parts like alternators with brushes and regulators that use contacts are now brushless and solid state.
Chuck, I'm closely connected with people doing IFR and 1000 mile legs in single engine aircraft outside of the US. It is a bureaucratic, cost and logistical nightmare, nothing like US operations, and getting worse not better every year. So the statement has validity as long as you ignore the part of the world where most light aircraft operations occur.To provide just a taster I selected this thread at random, describing a flight of a few hundred miles. There are many worse! https://www.euroga.org/forums/trips-airports/9621-edkb-egka-flight-planning-helpRegardless, piston engine planes are flown reliably by many for transport in bad weather, so the OPs question is entirely valid.
As far as the original question goes, most of the electrics and all of the electronics are in the cabin. In general though it is all of much higher quality than you'll find in automotive applications.in general the only thing firewall forward are starter generator voltage regulator and two Magneto's.Also, there are normally two inlets in the cowl. Ram air is forced over through the cylinders and down exhausted out the bottom of the cowling. What electrical gear firewall forward doesn't get very wet..