More Electric Aircraft Market Size, Share, Segmentation, Trends, Growth Opportunities, and Forecast 2030

More Electric Aircraft Market

More Electric Aircraft Market - by Platform (Fixed Wing, Rotary Wing) System (Power Electronics, Energy Storage Equipment, Thermal Management System) Application (Power Distribution, Flight Control & Operations, Passenger Comfort, Air Pressurization & Conditioning): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026

Published Date: 07-Oct-2020 Category: Defense & Security Report Format : PDF Pages: 110 Report Code: ZMR-4275 Status : Published

The more electric aircraft market is set for a rapid growth over the forecast period. In terms of revenue, the global more electric aircraft market accounted for USD 9,441.46 Million in 2019 and is expected to Reach USD 15,663.84 Million by 2026, growing at a CAGR of around 7.5%.

Overview

The more electric aircraft market is set for a rapid growth over the forecast period. In terms of revenue, the global more electric aircraft market accounted for USD 9,441.46 Million in 2019 and is expected to Reach USD 15,663.84 Million by 2026, growing at a CAGR of around 7.5%.

The product is the next-gen airplane that is fitted with electrical systems to reduce the non-propulsive power systems including pneumatic, mechanical, and hydraulic systems. In fact, more electric aircraft is a low weight airplane with less fuel usage and reduced emissions. This results in lowered ownership costs and enhances dependability. Due to low mass, the product is the best alternative for the aircraft manufacturers and hence has gained massive popularity across the aviation & aerospace sector.

Need for reducing operational as well as maintenance costs to a large extent in aircraft will boost the more electric aircraft market trends. Apart from this, a massive requirement for fuel conserving, lightweight and durable airplane coupled with the necessity of minimizing maintenance & operating expenditure will vitalize the growth of the business over the years to come.  Additionally, the growing inclination among the mammoth aircraft manufacturers to reduce dependence on traditional aircraft parts as a result of its high prices is touted to further elevate the industry expansion.

Furthermore, strict laws governing GHG emissions along with the need for raising the number of air flights as a result of thriving tourism activities is likely to add significantly towards the industry size during the estimated timeline. Nonetheless, concerns raised over the electric motor stability at heights along with a huge generation of heat may curtail market demand. However, the industry participants are trying to build strong mechanisms and core technologies to overcome these loopholes of the electric systems, thereby further propelling the market progress.

The more electric aircraft market can be sectored into platform, system, and application. Based on the platform, the industry can be divided into fixed wing and rotary wing. On the basis of the system, the more electric aircraft market can be segregated into power electronics, energy storage equipment, thermal management system, and safety system & advanced material. Application wise, the more electric aircraft industry is classified into power distribution, flight control & operations, passenger comfort, and air pressurization & conditioning.

Region wise, the more electric aircraft market can be divided into five main regions: Europe, Asia Pacific, Latin America, North America, and the Middle East and Africa. More electric aircraft market in Europe is projected to witness a humungous surge due to the enforcement of strict laws addressing the need for curbing fuel emissions from aircraft. In addition to this, favorable schemes supporting product adoption are likely to expedite the business space over the next decade.

Global More Electric Aircraft Market: Report Scope:

Report Attributes Report Details
Report Name More Electric Aircraft Market
Market Size in 2019 USD 9,441.46 Million
Market Forecast in 2026 USD 15,663.84 Million
Compound Annual Growth Rate CAGR of 7.5%
Number of Pages 150
Forecast Units Value (USD Million), and Volume (Units)
Key Companies Covered Raytheon Company, Boeing, Zodiac Aerospace, Airbus S.A.S, Lockheed Martin, United Technologies Corporation, Honeywell International Inc., Thales Group, Safran SA, TTTech Computertechnik AG, Bombardier, United Technologies Corporation, and Thales Group
Segments Covered By Product Type, By Application Type And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latian America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2019
Historical Year 2015 to 2019
Forecast Year 2020 - 2026
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

North American region is prophesied to make remarkable contributions toward overall more electric aircraft market revenue, subject to large scale presence of aircraft producers in the countries such as the U.S. and Canada. Allocation of more funds for the defense activities in the region will further create demand for more electric fighter aircraft, thereby unveiling new growth facets for the more electric aircraft sector in North America.

Some of the major participants in more electric aircraft market are Raytheon Company, Boeing, Zodiac Aerospace, Airbus S.A.S, Lockheed Martin, United Technologies Corporation, Honeywell International Inc., Thales Group, Safran SA, TTTech Computertechnik AG, Bombardier, United Technologies Corporation, and Thales Group.

More Electric Aircraft Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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