Global More Electric Aircraft Market, By Aircraft System (Propulsion System, Airframe System), Component (Engines, Batteries, Fuel Cells, Solar Cells, Generators, Actuators, Electric Pumps, Power Electronics, Distribution Devices, Valves, Landing Gear), Application (Power Generation, Power Distribution, Power Conversion, Energy Storage), Aircraft Type (Fixed Wing, Rotary Wing), End User (Civil, Military), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The more electric aircraft market is expected to witness market growth at a rate of 17.30% in the forecast period of 2021 to 2028 and is estimated to reach 5997.32 USD billion by 2028. Data Bridge Market Research report on more electric aircraft market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
In more electric aircraft (MEA), electrical systems substitute for most of the pneumatic systems found on the traditional commercial airplanes. In more electric aircraft (MEA), hydraulic systems are powered by engines, and electric-motor-driven hydraulic pumps and electrical systems are guided by engines and auxiliary-power-unit (APU)-driven generators.
Major factors that are expected to boost the growth of the more electric aircraft market in the forecast period are the optimized aircraft performance, decrease in the operational and maintenance prices and less emissions and noise pollution. On the other hand, the increase in the investments and more clearance period are couple of factors obstructing the more electric aircraft market growth in the timeline period. In addition, the developments in the high-density battery solutions, advancement of substitute power sources for electric power generation and expansion of advanced power electronic components will further provide growth opportunities for the more electric aircraft market in the coming years.
However, the thermal management in the electrical systems, dependability of the electrical systems in rough environments and economic challenges faced by the aviation industry because of the COVID-19 pandemic outbreak might further create obstructions for the growth of the more electric aircraft market in the near future.
This more electric aircraft market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the more electric aircraft market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
More Electric Aircraft Market Scope and Market Size
The more electric aircraft market is segmented on the basis of aircraft system, Component, application, aircraft type and end user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of aircraft system, the more electric aircraft market is segmented into propulsion system and airframe system environmental control system. Propulsion system is further sub segmented into fuel management system and thrust reverser system. Airframe system environmental control system is further sub segmented into accessory drive system, power management system, cabin interior system and flight control system.
- On the basis of component, the more electric aircraft market is segmented into engines, batteries, generators, actuators, electric pumps, power electronics, distribution devices, valves and landing gear. Batteries is further sub segmented into nickel-based lead-acid-based, lithium-based, fuel cells, solar cells. Generators is further sub segmented into starter generator, auxiliary power unit (APU) and variable speed constant frequency (VSCF) generator. Actuators is further sub segmented into electric and hybrid electric. Hybrid electric is further sub segmented into electro-hydro-static actuator (EHA), electro-mechanical actuator (EMA) and electrical-backup hydraulic actuator. Power electronics is further sub segmented into rectifiers, inverters and converters. Distribution devices is further sub segmented into wires and cables, connectors and connector accessories and bus bars.
- On the basis of application, the more electric aircraft market is segmented into power generation, power distribution, power conversion, energy storage.
- On the basis of aircraft type, the more electric aircraft market is segmented into fixed wing and rotary wing. Fixed wing is further sub segmented into narrow body aircraft (NBA), wide body aircraft (WBA), regional aircraft, fighter jets and business jets. Rotary wing is further sub segmented into medium helicopters and heavy helicopters.
- On the basis of end user, the more electric aircraft market is segmented into civil, military.
More Electric Aircraft Market Country Level Analysis
The more electric aircraft market is analysed and market size, volume information is provided by country, aircraft system, component, application, aircraft type and end user as referenced above.
The countries covered in the more electric aircraft market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Europe dominates the more electric aircraft market due to the strict governing guidelines and rules. Furthermore, the encouraging initiatives and research programs taken by the governing bodies and the rise in the GHG emissions will further boost the growth of the more electric aircraft market in the region during the forecast period. North America is projected to observe significant amount of growth in the more electric aircraft market due to the larger concentration of aircraft manufacturers engaged in developing more electric aircrafts. Moreover, the increase in the defense expenses and occurrences of some major key players is further anticipated to propel the growth of the more electric aircraft market in the region in the coming years.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and More Electric Aircraft Market Share Analysis
The more electric aircraft market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to automotive vehicle scanner market.
The major players covered in the more electric aircraft market report are AMETEK.Inc., Safran S.A., Astronics Corporation., Amphenol Corporation., Honeywell International Inc., Meggitt PLC., Thales Group, Boeing., Airbus S.A.S., Lockheed Martin Corporation., Textron Inc., Elbit Systems Ltd., Raytheon Technologies Corporation, Collins Aerospace., General Electric Company, Moog Inc., Parker Hannifin Corp., Eaton., BAE Systems., Rolls-Royce plc, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.