More Electric Aircraft Market Size and Trends 2028

Summary

Report Description

Forecast Period	2024-2028
Market Size (2022)	USD 8 billion
CAGR (2023-2028)	6.38%
Fastest Growing Segment	Airframe system
Largest Market	North America

Market Overview

Global More Electric Aircraft Market has valued at USD 8 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 6.38% through 2028. Aircraft are used to move goods and persons around the world, based on the needs of various industries such as tourism, logistics, and defense. Due to enormous maintenance and running costs, as well as the enormous purchase costs connected with an airplane, planes comprise a significant portion of an organization's investment. Aircraft also create noise and air pollutants that harm the environment, such as carbon dioxide (CO2), nitrogen oxides (NOX), sulfur oxides (SOX), and unburned hydrocarbons (HO). To solve the environmental issues provided by conventional jet-fuel-based aircraft and to comply with the constraints and requirements set by aviation regulators worldwide, aviation businesses are electrifying some or all aircraft functions. During the forecast period, the rise in innovations and development of new aircraft technologies is expected to fuel the expansion of the global more electric aircraft market. Honeywell International Inc., for example, announced a tiny fly-by-wire system in June 2019. The small technology eliminates the need for hefty pushrods, control cables, or hydraulics in the aircraft, improving the aircraft's stability. Furthermore, aviation industry leaders have installed more electric systems to compensate for the inadequacies of hydraulic, pneumatic, and mechanical systems. In the Boeing 787 Dreamliner, for example, a novel no-bleed system architecture was introduced to replace the previous conventional power source for bleed air functions with electrical power.

Key Market Drivers

Environmental Regulations and Sustainability Initiatives

One of the primary drivers of the More Electric Aircraft market is the increasing stringency of environmental regulations and the aviation industry's commitment to sustainability. The aviation sector has long been under scrutiny for its environmental impact, particularly in terms of carbon emissions. In response to global concerns about climate change, governments and international organizations have imposed strict regulations on aircraft emissions and noise levels. Aircraft powered by traditional jet engines are significant contributors to greenhouse gas emissions. MEA designs incorporate more efficient electric propulsion systems, such as electrically driven fans or distributed electric propulsion, which can significantly reduce fuel consumption and emissions. Electric motors are more energy-efficient and can be powered by cleaner energy sources, such as hydrogen or sustainable aviation fuels (SAFs), further reducing the carbon footprint of aviation. Electric propulsion systems tend to be quieter than traditional engines, reducing noise pollution around airports and communities. Noise reduction is a critical consideration for airports facing expansion challenges due to noise concerns. Emerging electric Vertical Take-Off and Landing (eVTOL) aircraft, which fall under the MEA category, have the potential to revolutionize urban air mobility. They offer low noise, zero emissions, and the ability to operate in congested urban environments, aligning with sustainability goals and urban planning efforts. Airlines and aircraft manufacturers are under increasing pressure to meet these stringent environmental requirements, making the adoption of More Electric Aircraft a strategic imperative. Governments and aviation authorities are also incentivizing the development and adoption of MEA technologies through grants, research funding, and tax benefits.

Fuel Efficiency and Operating Cost Reduction

The aviation industry is constantly seeking ways to enhance fuel efficiency and reduce operating costs. Fuel costs represent a significant portion of an airline's operating expenses, and improving fuel efficiency is essential for profitability. More Electric Aircraft offer several advantages in this regard: MEA designs often incorporate electric or hybrid-electric propulsion systems that are inherently more efficient than traditional jet engines. Electric motors provide precise control and better power-to-weight ratios, resulting in improved fuel efficiency. Beyond propulsion, MEA also focuses on electrifying secondary systems like environmental control systems, landing gear, and auxiliary power units (APUs). This reduces the reliance on hydraulic and pneumatic systems, which can be less energy-efficient and more prone to maintenance issues. Electric systems typically require less maintenance than their mechanical counterparts. Fewer moving parts mean fewer opportunities for wear and tear. This results in reduced maintenance downtime and lower overall operating costs. Electric systems can often be lighter than their traditional counterparts, contributing to improved fuel efficiency. Weight reduction is especially critical in the aviation industry, as every kilogram saved translates into fuel savings over time. Airlines are increasingly adopting MEA technologies to optimize their fleets, reduce operating costs, and gain a competitive edge in the market. This trend is particularly significant in the context of rising fuel prices and fluctuating market conditions.

Advancements in Electric Propulsion and Power Systems

Technological advancements in electric propulsion and power systems are driving the rapid development and adoption of More Electric Aircraft. These advancements are the result of significant research and development efforts by aerospace companies, as well as collaborations with academic institutions and technology startups. High-performance electric motors, including permanent magnet synchronous motors (PMSMs) and electric fans, have made significant strides in terms of power density, efficiency, and reliability. These motors are crucial for electric propulsion and distributed propulsion systems in MEA. Advances in battery technology, particularly in energy density and safety, have enabled the development of electric and hybrid-electric aircraft. Lithium-ion batteries, as well as emerging battery chemistries like solid-state batteries, are being explored for their potential to power electric aircraft. Power electronics play a critical role in converting and managing electrical power in aircraft systems. Innovations in power electronics enable more efficient energy conversion and distribution within MEA. Advanced control systems and software are essential for managing the complex electrical systems in More Electric Aircraft. These systems ensure seamless operation, fault tolerance, and safety. Aerospace companies are investing heavily in these technologies to stay at the forefront of the MEA market. Startups focused on electric propulsion and energy storage are also emerging, contributing to the overall growth of the industry.

Urban Air Mobility and eVTOLs

The emergence of Urban Air Mobility (UAM) and Electric Vertical Take-Off and Landing (eVTOL) aircraft represents a unique opportunity and driver for the MEA market. UAM envisions on-demand, point-to-point air transportation within urban areas, and eVTOLs are a key enabler of this concept. UAM and eVTOL aircraft are inherently electric, designed to operate quietly and efficiently in urban environments. They are seen as a solution to urban congestion and pollution, aligning with city planners' goals for sustainable urban transportation. Major technology companies, including Uber, Airbus, and Boeing, are heavily investing in eVTOL development. These investments are driving technological advancements in electric propulsion, battery technology, and autonomous flight systems, which have broader applications beyond UAM. UAM and eVTOLs could introduce new business models for air travel, including air taxi services and urban logistics. These models rely on electric propulsion and advanced automation, making them a natural fit for the MEA market. The growth of UAM and eVTOLs is not only opening new markets for MEA but also accelerating the development of electric aviation technologies. As these vehicles become more prevalent, the demand for advanced electric propulsion and power systems will rise.

Advancements in Materials and Manufacturing

Materials and manufacturing processes are critical drivers in the development of More Electric Aircraft. Advanced materials offer benefits such as weight reduction, improved strength, and better thermal management. Moreover, innovative manufacturing techniques are enabling the production of complex electrical systems and components. The aviation industry is increasingly using lightweight composite materials for aircraft structures. These materials reduce weight, improve fuel efficiency, and enhance overall aircraft performance. Additive manufacturing techniques allow to produce intricate components with reduced weight and improved performance. This technology is being applied to create electric motor components, heat exchangers, and other critical MEA elements. Efficient thermal management is crucial for electrical systems in aircraft. Advances in materials like thermally conductive composites and improved cooling techniques contribute to the overall efficiency and reliability of MEA. Aerospace companies are continually researching and adopting these materials and manufacturing processes to optimize the design and production of More Electric Aircraft.

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Key Market Challenges

Battery Technology Limitations

One of the most prominent challenges in the MEA market is the limitation of battery technology. Batteries play a crucial role in electric and hybrid-electric aircraft by storing and providing electrical power for propulsion and various aircraft systems. However, several limitations hinder their widespread adoption in aviation: Current battery technology, predominantly lithium-ion batteries, has limited energy density. This means that batteries are relatively heavy for energy they can store. In aviation, weight is a critical factor, and heavy batteries can significantly reduce the range and payload capacity of aircraft. Aircraft require rapid charging and discharging of electrical energy, especially during takeoff and landing phases. Existing batteries may not provide the required power output for these critical moments, limiting the feasibility of all-electric propulsion systems. The aviation industry demands high levels of reliability and durability. Batteries degrade over time, leading to reduced capacity and performance. Ensuring the longevity and safety of aviation batteries is a significant challenge. Safety is paramount in aviation, and battery fires or thermal runaway events can be catastrophic. Developing battery chemistries that are both energy-dense and safe remains a challenge.

Electromagnetic Interference (EMI) and Compatibility

The electrification of aircraft systems introduces the risk of electromagnetic interference (EMI) and electromagnetic compatibility (EMC) issues. EMI refers to the unintentional generation, propagation, and reception of electromagnetic energy that can disrupt the normal operation of electronic systems. EMC, on the other hand, is the ability of systems to operate without causing EMI or being susceptible to it. In aviation, EMI and EMC are critical concerns for safety and reliability: As aircraft systems become more electric, the number of electrical components and systems on board increases. This complexity can lead to higher EMI risks, as electromagnetic emissions from one system can interfere with others. Modern aircraft rely heavily on sensitive avionics systems, including navigation, communication, and flight control systems. EMI can disrupt these systems, potentially leading to safety-critical failures. Meeting stringent EMC standards for aviation is a complex and costly process. Ensuring that all electrical components and systems comply with these standards is a significant challenge for aircraft manufacturers. Retrofitting older aircraft with more electric systems can be particularly challenging. Ensuring that new and old systems work together without causing EMI issues is a complex task. Addressing EMI and EMC challenges requires careful system design, shielding, and testing. Aircraft manufacturers must invest in research and development to ensure that MEA systems can operate safely and reliably in the presence of electromagnetic interference.

Regulatory and Certification Hurdles

The aviation industry is subject to stringent regulatory requirements and certification processes designed to ensure the safety of passengers, crew, and the public. These regulations are essential but can pose significant challenges for the adoption of More Electric Aircraft: Aviation regulators impose rigorous safety standards that aircraft must meet before they can be certified for operation. Ensuring that MEA systems meet these standards can be complex and time-consuming. MEA technologies, such as electric propulsion and advanced power distribution systems, may not have well-established certification guidelines. Developing these guidelines and gaining regulatory approval is a lengthy process. Aircraft manufacturers must conduct extensive testing and validation to demonstrate the safety and reliability of MEA systems. This requires significant resources and time. The global nature of aviation requires alignment of certification standards across different countries and regions. Achieving this harmonization can be challenging. Regulatory authorities, aircraft manufacturers, and industry stakeholders must collaborate closely to streamline the certification process for MEA technologies. This involves developing clear guidelines and ensuring that safety standards are met without stifling innovation.

Infrastructure and Charging

The transition to electric aviation requires significant changes in infrastructure and charging capabilities. Unlike traditional fossil-fuel-powered aircraft, electric and hybrid-electric aircraft need access to charging infrastructure, which poses several challenges: Charging Infrastructure Development: Building a network of charging stations at airports and other relevant locations is a considerable undertaking. Ensuring that these facilities can accommodate the unique needs of electric aircraft, including rapid charging, is a challenge. Managing the storage and distribution of electrical energy at airports requires careful planning. This includes grid upgrades, energy storage solutions, and the integration of renewable energy sources. Electric aircraft may require longer turnaround times for charging compared to refueling with conventional fuels. This can impact airline schedules and operations. Ensuring that charging infrastructure is compatible with various aircraft types and models can be challenging, as different aircraft may have different power requirements and connector standards. The development of charging infrastructure is a collaborative effort between airports, aviation authorities, and aircraft manufacturers. It requires substantial investment and coordination to support the growth of electric aviation.

Cost Considerations

While the long-term operational cost benefits of More Electric Aircraft are significant, the initial costs of research, development, and acquisition can be substantial. This presents challenges in several areas: Aircraft manufacturers must invest heavily in research and development to design and certify MEA systems. This can strain budgets and require long-term commitments. Electric and hybrid-electric aircraft can be more expensive upfront than their traditional counterparts. Airlines may hesitate to invest in MEA without clear economic benefits. As previously mentioned, batteries represent a significant cost factor in electric aircraft. Reducing battery costs while improving performance is a critical challenge. Retrofitting existing fleets with MEA systems or transitioning to electric aviation may involve operational disruptions and additional costs for training and maintenance.

Key Market Trends

Electrification of Propulsion Systems

One of the most prominent trends in the MEA market is the electrification of propulsion systems. Traditional aircraft rely on jet engines powered by fossil fuels, which contribute to greenhouse gas emissions and are subject to volatility in oil prices. In response to environmental concerns and the need for greater fuel efficiency, aircraft manufacturers are increasingly exploring electric and hybrid-electric propulsion systems. Electric motors are becoming a central component of MEA designs. These motors are more efficient and environmentally friendly than traditional engines. They can be powered by various sources, including batteries, hydrogen fuel cells, and hybrid configurations. Electric propulsion systems produce fewer emissions, contributing to the aviation industry's efforts to reduce its carbon footprint. This trend aligns with global initiatives to combat climate change. Electric propulsion systems offer the potential for improved fuel efficiency, reducing operational costs for airlines and making air travel more sustainable. Electric Vertical Take-Off and Landing (eVTOL) aircraft, which are part of the MEA category, are gaining traction. These electric aircraft are designed for urban air mobility, short-haul flights, and on-demand transportation services, addressing the growing demand for efficient urban transportation. As electrification technologies continue to advance, we can expect to see more electric and hybrid-electric aircraft models entering commercial service, ultimately transforming the aviation industry.

Integration of Advanced Power Distribution Systems

Another significant trend in the MEA market is the integration of advanced power distribution systems. As aircraft systems become more electric, the demand for efficient, reliable, and intelligent power distribution is growing. These systems are crucial for managing electrical energy flow throughout the aircraft. MEA designs prioritize the use of electrical power for various aircraft systems, including environmental control, landing gear, and auxiliary power units (APUs). Advanced power distribution systems ensure that electrical energy is distributed efficiently and reliably to these subsystems. Traditional aircraft rely on hydraulic systems for functions like landing gear retraction and braking. MEA architectures often replace hydraulic systems with electrically actuated systems, leading to weight savings and reduced maintenance requirements. Advanced power distribution systems incorporate redundancy and fault tolerance mechanisms to ensure uninterrupted operation of critical aircraft systems. This enhances overall reliability and safety. MEA designs include intelligent control systems that monitor and manage electrical power distribution in real-time, optimizing energy usage and improving system responsiveness. The integration of advanced power distribution systems is a critical enabler of the MEA concept, contributing to increased efficiency, reduced maintenance costs, and improved safety.

Digitalization and Connectivity

Digitalization and connectivity are reshaping the aviation industry, including the MEA market. Aircraft are becoming increasingly connected, both internally and externally, through data-sharing and communication technologies. This trend offers several benefits: Connected MEA systems can transmit real-time data to ground crews, enabling predictive maintenance. Airlines can proactively address maintenance issues, reducing downtime and improving aircraft reliability. In-flight connectivity and entertainment systems are becoming standard features in modern aircraft. Passengers can stay connected, stream content, and access information, enhancing the overall travel experience. Airlines are using data analytics to optimize flight routes, reduce fuel consumption, and improve operational efficiency. These data-driven decisions contribute to cost savings and reduced environmental impact. Connectivity enables flight crews to access real-time weather data, navigation information, and aircraft performance data, enhancing their ability to make informed decisions during flights. As digitalization and connectivity continue to evolve, we can expect to see even more innovative solutions that improve aircraft efficiency, safety, and passenger satisfaction in the MEA market.

Advancements in Energy Storage Solutions

Energy storage solutions, particularly batteries, are a focal point of innovation in the MEA market. Batteries play a crucial role in electric and hybrid-electric aircraft, and advancements in energy storage technology are driving the following trends: Researchers and manufacturers are working to develop batteries with higher energy density, which allows for longer flight ranges and improved aircraft performance. Lightweight battery materials and designs are a priority to mitigate the weight penalty associated with electric propulsion. Lighter batteries contribute to fuel efficiency and payload capacity. Rapid charging technologies are under development to minimize aircraft turnaround times. Faster charging enables more efficient and frequent flight operations. Solid-state batteries, which promise higher energy density, improved safety, and longer cycle life, are a key area of research for electric aviation. Hydrogen fuel cells are emerging as an alternative to traditional batteries. They offer the advantage of quick refueling and longer endurance, making them suitable for specific aviation applications. Advancements in energy storage solutions are pivotal in overcoming the limitations of current battery technology and driving the adoption of electric and hybrid-electric aircraft.

Environmental Sustainability and Regulatory Pressure

Environmental sustainability is a driving force in the MEA market, with regulatory pressure and consumer expectations pushing the aviation industry toward cleaner and more efficient aircraft: Aviation contributes to carbon emissions, and the industry is under pressure to reduce its environmental impact. MEA technologies, such as electric propulsion and advanced power distribution, support the industry's efforts to meet emission reduction goals. Governments and international organizations are implementing stricter regulations on aircraft emissions and noise levels. MEA solutions, including electric propulsion and quieter electric motors, align with these mandates. Eco-conscious consumers are increasingly choosing airlines that demonstrate a commitment to sustainability. Airlines that operate more fuel-efficient and environmentally friendly MEA aircraft gain a competitive advantage. The MEA market is also exploring the use of sustainable aviation fuels (SAFs) in conjunction with electric propulsion. SAFs can further reduce the carbon footprint of aviation. As environmental concerns continue to drive regulatory action and consumer preferences, MEA technologies will play a pivotal role in the aviation industry's sustainability efforts.

Segmental Insights

System Type Analysis

The electric aircraft market size is divided into propulsion and airframe systems based on aircraft system. Air transportation can reduce carbon emissions and operational costs by electrifying key engine and airframe systems. This is expected to increase the use of electric aircraft in the next years. During the anticipated period, the airframe system will continue to be the dominant section.

Application Type Analysis

The more electric aircraft market is divided into four applications: power distribution, passenger comfort, air pressurization and conditioning, and flight control and operations. Passenger comfort is an important development for driver since it has a direct impact on consumer satisfaction and airline competitiveness. MEAs provide quieter and smoother rides since their electric systems reduce noise and vibrations. Furthermore, the improved environmental control systems in MEAs can keep the cabin temperature and air quality more comfortable. These planes have better cabin amenities, lighting, and entertainment options, making air travel more enjoyable.

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Regional Insights

North America is likely to dominate the market because to the presence of key companies such as Honeywell International Inc. and Raytheon Technologies Corporation. Furthermore, the region's market growth can be ascribed to the increasing use of contemporary aircraft for military and commercial uses. Because of the huge number of deliveries of aircraft with more electric architecture to the US, North America is a large market for more electric aircraft. The essential infrastructure, as well as a strong emphasis on research and development in the electrification of aircraft subsystems, are projected to promote the emergence of more electric aircraft markets in the North American region.

Lockheed Martin Corporation will deploy 142 F-35 fighter jets to the United States and its allies in 2021. The F-35's power-by-wire system is a significant step forward in more electric aircraft technology. It incorporates self-contained electro-hydrostatic actuators (EHAs) to control the principal flight surfaces.

Because of the existence of important key players and OEMs like as Airbus, Thales Group, and Safran Sa, the market in Europe is expected to develop moderately. These businesses are among the best in the region, with prospective consumers all over the world. The Asia-Pacific market is expected to increase significantly during the forecast period. Countries like China and Japan are anticipated to remain key players in this region.

Recent Developments

Safran Electrical & Power, a Safran SA subsidiary, and AURAAERO (France), a digital and environmentally friendly aircraft manufacturer, signed a collaboration agreement in April 2022 to collaborate on the architecture and electric propulsion systems of two aircraft: the INTEGRAL E training aircraft and the ERA (Electric Regional Aircraft). INTEGRAL E is expected to receive roughly 60 orders. The first flight is anticipated for 2022, followed by deliveries in 2023.
GE Aviation hired BAE Systems to provide energy management solutions for its newly announced hybrid electric technology demonstrator program in April 2022. As part of the NASA research project, BAE Systems will develop, test, and deliver energy management components for megawatt-class electric aircraft.
January 20, 2022 Wisk, a well-known Advanced Air Mobility (AAM) firm and the creator of the first all-electric, self-flying air taxi in the United States, has successfully raised USD 450 million in funding from The Boeing firm. Wisk's continuous efforts to create cutting-edge AAM technology and change the transportation industry are likely to be bolstered by this large investment.
January 2022: Lockheed Martin Corporation's venture capital arm made a significant investment in Electra Inc., providing the electric short takeoff and landing (eSTOL) aircraft concept with a cash and credibility boost. This move is likely to hasten the development of Electra's unique eSTOL aircraft, which has the potential to transform short-haul transportation and make substantial progress toward sustainable aviation.

Key Market Players

The Boeing Company
Airbus SE
Lockheed Martin Corporation
Safran SA
Honeywell International Inc.
Raytheon Technologies Corporation
General Electric Company
Moog Inc.
Parker-Hannifin Corporation
Eaton Corporation plc

By Aircraft Type	By System Type	By Application Type	By Region
Fixed Rotary Hybrid	Propulsion Airframe	Power Distribution Passenger Comfort Air Pressurization & conditioning Flight control & Operations	North America Europe & CIS Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global More Electric Aircraft Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

More Electric Aircraft Market, By Aircraft Type:

o Fixed

o Rotary

o Hybrid

More Electric Aircraft Market, By System Type:

o Propulsion

o Airframe

More Electric Aircraft Market, By Application Type:

o Power Distribution

o Passenger Comfort

o Air Pressurization & conditioning

o Flight control & Operations

More Electric Aircraft Market, By Region:

o Asia-Pacific

§ China

§ India

§ Japan

§ Indonesia

§ Thailand

§ South Korea

§ Australia

o Europe & CIS

§ Germany

§ Spain

§ France

§ Russia

§ Italy

§ United Kingdom

§ Belgium

o North America

§ United States

§ Canada

§ Mexico

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Turkey

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global More Electric Aircraft Market.

Available Customizations:

Global More Electric Aircraft market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

It is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global More Electric Aircraft Market

5. Global More Electric Aircraft Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Aircraft Type Market Share Analysis (Fixed, Rotary, Hybrid)

5.2.2. By System Type Market Share Analysis (Propulsion, Airframe)

5.2.3. By Application Type Market Share Analysis (Power Distribution, Passenger Comfort, Air Pressurization & conditioning, Flight control & Operations)

5.2.4. By Regional Market Share Analysis

5.2.4.1. Asia-Pacific Market Share Analysis

5.2.4.2. Europe & CIS Market Share Analysis

5.2.4.3. North America Market Share Analysis

5.2.4.4. South America Market Share Analysis

5.2.4.5. Middle East & Africa Market Share Analysis

5.2.5. By Company Market Share Analysis (Top 5 Companies, Others - By Value & Volume, 2022)

5.3. Global More Electric Aircraft Market Mapping & Opportunity Assessment

5.3.1. By Aircraft Type Market Mapping & Opportunity Assessment

5.3.2. By System Type Market Mapping & Opportunity Assessment

5.3.3. By Application Type Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific More Electric Aircraft Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Aircraft Type Market Share Analysis

6.2.2. By System Type Market Share Analysis

6.2.3. By Application Type Market Share Analysis

6.2.4. By Country Market Share Analysis

6.2.4.1. China Market Share Analysis

6.2.4.2. India Market Share Analysis

6.2.4.3. Japan Market Share Analysis

6.2.4.4. Indonesia Market Share Analysis

6.2.4.5. Thailand Market Share Analysis

6.2.4.6. South Korea Market Share Analysis

6.2.4.7. Australia Market Share Analysis

6.2.4.8. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Country Analysis

6.3.1. China More Electric Aircraft Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Aircraft Type Market Share Analysis

6.3.1.2.2. By System Type Market Share Analysis

6.3.1.2.3. By Application Type Market Share Analysis

6.3.2. India More Electric Aircraft Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Aircraft Type Market Share Analysis

6.3.2.2.2. By System Type Market Share Analysis

6.3.2.2.3. By Application Type Market Share Analysis

6.3.3. Japan More Electric Aircraft Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Aircraft Type Market Share Analysis

6.3.3.2.2. By System Type Market Share Analysis

6.3.3.2.3. By Application Type Market Share Analysis

6.3.4. Indonesia More Electric Aircraft Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Aircraft Type Market Share Analysis

6.3.4.2.2. By System Type Market Share Analysis

6.3.4.2.3. By Application Type Market Share Analysis

6.3.5. Thailand More Electric Aircraft Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Aircraft Type Market Share Analysis

6.3.5.2.2. By System Type Market Share Analysis

6.3.5.2.3. By Application Type Market Share Analysis

6.3.6. South Korea More Electric Aircraft Market Outlook

6.3.6.1. Market Size & Forecast

6.3.6.1.1. By Value

6.3.6.2. Market Share & Forecast

6.3.6.2.1. By Aircraft Type Market Share Analysis

6.3.6.2.2. By System Type Market Share Analysis

6.3.6.2.3. By Application Type Market Share Analysis

6.3.7. Australia More Electric Aircraft Market Outlook

6.3.7.1. Market Size & Forecast

6.3.7.1.1. By Value

6.3.7.2. Market Share & Forecast

6.3.7.2.1. By Aircraft Type Market Share Analysis

6.3.7.2.2. By System Type Market Share Analysis

6.3.7.2.3. By Application Type Market Share Analysis

7. Europe & CIS More Electric Aircraft Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Aircraft Type Market Share Analysis

7.2.2. By System Type Market Share Analysis

7.2.3. By Application Type Market Share Analysis

7.2.4. By Country Market Share Analysis

7.2.4.1. Germany Market Share Analysis

7.2.4.2. Spain Market Share Analysis

7.2.4.3. France Market Share Analysis

7.2.4.4. Russia Market Share Analysis

7.2.4.5. Italy Market Share Analysis

7.2.4.6. United Kingdom Market Share Analysis

7.2.4.7. Belgium Market Share Analysis

7.2.4.8. Rest of Europe & CIS Market Share Analysis

7.3. Europe & CIS: Country Analysis

7.3.1. Germany More Electric Aircraft Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Aircraft Type Market Share Analysis

7.3.1.2.2. By System Type Market Share Analysis

7.3.1.2.3. By Application Type Market Share Analysis

7.3.2. Spain More Electric Aircraft Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Aircraft Type Market Share Analysis

7.3.2.2.2. By System Type Market Share Analysis

7.3.2.2.3. By Application Type Market Share Analysis

7.3.3. France More Electric Aircraft Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Aircraft Type Market Share Analysis

7.3.3.2.2. By System Type Market Share Analysis

7.3.3.2.3. By Application Type Market Share Analysis

7.3.4. Russia More Electric Aircraft Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Aircraft Type Market Share Analysis

7.3.4.2.2. By System Type Market Share Analysis

7.3.4.2.3. By Application Type Market Share Analysis

7.3.5. Italy More Electric Aircraft Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Aircraft Type Market Share Analysis

7.3.5.2.2. By System Type Market Share Analysis

7.3.5.2.3. By Application Type Market Share Analysis

7.3.6. United Kingdom More Electric Aircraft Market Outlook

7.3.6.1. Market Size & Forecast

7.3.6.1.1. By Value

7.3.6.2. Market Share & Forecast

7.3.6.2.1. By Aircraft Type Market Share Analysis

7.3.6.2.2. By System Type Market Share Analysis

7.3.6.2.3. By Application Type Market Share Analysis

7.3.7. Belgium More Electric Aircraft Market Outlook

7.3.7.1. Market Size & Forecast

7.3.7.1.1. By Value

7.3.7.2. Market Share & Forecast

7.3.7.2.1. By Aircraft Type Market Share Analysis

7.3.7.2.2. By System Type Market Share Analysis

7.3.7.2.3. By Application Type Market Share Analysis

8. North America More Electric Aircraft Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Aircraft Type Market Share Analysis

8.2.2. By System Type Market Share Analysis

8.2.3. By Application Type Market Share Analysis

8.2.4. By Country Market Share Analysis

8.2.4.1. United States Market Share Analysis

8.2.4.2. Mexico Market Share Analysis

8.2.4.3. Canada Market Share Analysis

8.3. North America: Country Analysis

8.3.1. United States More Electric Aircraft Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Aircraft Type Market Share Analysis

8.3.1.2.2. By System Type Market Share Analysis

8.3.1.2.3. By Application Type Market Share Analysis

8.3.2. Mexico More Electric Aircraft Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Aircraft Type Market Share Analysis

8.3.2.2.2. By System Type Market Share Analysis

8.3.2.2.3. By Application Type Market Share Analysis

8.3.3. Canada More Electric Aircraft Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Aircraft Type Market Share Analysis

8.3.3.2.2. By System Type Market Share Analysis

8.3.3.2.3. By Application Type Market Share Analysis

9. South America More Electric Aircraft Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Aircraft Type Market Share Analysis

9.2.2. By System Type Market Share Analysis

9.2.3. By Application Type Market Share Analysis

9.2.4. By Country Market Share Analysis

9.2.4.1. Brazil Market Share Analysis

9.2.4.2. Argentina Market Share Analysis

9.2.4.3. Colombia Market Share Analysis

9.2.4.4. Rest of South America Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil More Electric Aircraft Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Aircraft Type Market Share Analysis

9.3.1.2.2. By System Type Market Share Analysis

9.3.1.2.3. By Application Type Market Share Analysis

9.3.2. Colombia More Electric Aircraft Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Aircraft Type Market Share Analysis

9.3.2.2.2. By System Type Market Share Analysis

9.3.2.2.3. By Application Type Market Share Analysis

9.3.3. Argentina More Electric Aircraft Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Aircraft Type Market Share Analysis

9.3.3.2.2. By System Type Market Share Analysis

9.3.3.2.3. By Application Type Market Share Analysis

10. Middle East & Africa More Electric Aircraft Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Aircraft Type Market Share Analysis

10.2.2. By System Type Market Share Analysis

10.2.3. By Application Type Market Share Analysis

10.2.4. By Country Market Share Analysis

10.2.4.1. South Africa Market Share Analysis

10.2.4.2. Turkey Market Share Analysis

10.2.4.3. Saudi Arabia Market Share Analysis

10.2.4.4. UAE Market Share Analysis

10.2.4.5. Rest of Middle East & Africa Market Share Africa

10.3. Middle East & Africa: Country Analysis

10.3.1. South Africa More Electric Aircraft Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Aircraft Type Market Share Analysis

10.3.1.2.2. By System Type Market Share Analysis

10.3.1.2.3. By Application Type Market Share Analysis

10.3.2. Turkey More Electric Aircraft Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Aircraft Type Market Share Analysis

10.3.2.2.2. By System Type Market Share Analysis

10.3.2.2.3. By Application Type Market Share Analysis

10.3.3. Saudi Arabia More Electric Aircraft Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Aircraft Type Market Share Analysis

10.3.3.2.2. By System Type Market Share Analysis

10.3.3.2.3. By Application Type Market Share Analysis

10.3.4. UAE More Electric Aircraft Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Aircraft Type Market Share Analysis

10.3.4.2.2. By System Type Market Share Analysis

10.3.4.2.3. By Application Type Market Share Analysis

11. SWOT Analysis

11.1. Strength

11.2. Weakness

11.3. Opportunities

11.4. Threats

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Company Profiles (Up to 10 Major Companies)

14.1.1. The Boeing Company

14.1.1.1. Company Details

14.1.1.2. Key Product Offered

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Recent Developments

14.1.1.5. Key Management Personnel

14.1.2. Airbus SE

14.1.2.1. Company Details

14.1.2.2. Key Product Offered

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Recent Developments

14.1.2.5. Key Management Personnel

14.1.3. Lockheed Martin Corporation

14.1.3.1. Company Details

14.1.3.2. Key Product Offered

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Recent Developments

14.1.3.5. Key Management Personnel

14.1.4. Safran SA

14.1.4.1. Company Details

14.1.4.2. Key Product Offered

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Recent Developments

14.1.4.5. Key Management Personnel

14.1.5. Honeywell International Inc.

14.1.5.1. Company Details

14.1.5.2. Key Product Offered

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Recent Developments

14.1.5.5. Key Management Personnel

14.1.6. Raytheon Technologies Corporation

14.1.6.1. Company Details

14.1.6.2. Key Product Offered

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Recent Developments

14.1.6.5. Key Management Personnel

14.1.7. General Electric Company

14.1.7.1. Company Details

14.1.7.2. Key Product Offered

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Recent Developments

14.1.7.5. Key Management Personnel

14.1.8. Moog Inc.

14.1.8.1. Company Details

14.1.8.2. Key Product Offered

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Recent Developments

14.1.8.5. Key Management Personnel

14.1.9. Parker-Hannifin Corporation

14.1.9.1. Company Details

14.1.9.2. Key Product Offered

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Recent Developments

14.1.9.5. Key Management Personnel

14.1.10. Eaton Corporation plc

14.1.10.1. Company Details

14.1.10.2. Key Product Offered

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Recent Developments

14.1.10.5. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Type

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Figures and Tables

Frequently asked questions

What was the market size of the Global More Electric Aircraft Market in 2022?

The market size of the Global More Electric Aircraft Market was estimated to be USD 8 billion in 2022.

Which was the dominant segment By Application Type in the Global More Electric Aircraft Market in 2022?

The more electric aircraft market is divided into four applications: power distribution, passenger comfort, air pressurization and conditioning, and flight control and operations. Passenger comfort is an important development for drivers since it has a direct impact on consumer satisfaction and airline competitiveness. MEAs provide quieter and smoother rides since their electric systems reduce noise and vibrations. Furthermore, the improved environmental control systems in MEAs can keep the cabin temperature and air quality more comfortable. These planes have better cabin amenities, lighting, and entertainment options, making air travel more enjoyable.

Which is the dominant region in the Global More Electric Aircraft Market?

North America is likely to dominate the market because of the presence of key companies such as Honeywell International Inc. and Raytheon Technologies Corporation. Furthermore, the region's market growth can be ascribed to the increasing use of contemporary aircraft for military and commercial uses. Because of the huge number of deliveries of aircraft with more electric architecture to the US, North America is a large market for more electric aircraft. The essential infrastructure, as well as a strong emphasis on research and development in the electrification of aircraft subsystems, are projected to promote the emergence of more electric aircraft markets in the North American region.

What are the major drivers for the Global More Electric Aircraft Market?

Environmental Regulations and Sustainability Initiatives, Fuel Efficiency and Operating Cost Reduction, Advancements in Electric Propulsion and Power Systems are the major drivers for the Global More Electric Aircraft Market.

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Business Consultant

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Press Release

More Electric Aircraft Market to Grow with a CAGR of 6.38% Globally through to 2028

Nov, 2023

Environmental Regulations and Sustainability Initiatives, Fuel Efficiency and Operating Cost Reduction, Advancements in Electric Propulsion and Power Systems are factors driving the Global More Elect

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