More Electric Aircraft Market Overview
The global More Electric Aircraft market is expected to rise at a significant rate in the forthcoming years. The reduction in operational and maintenance costs in more electric aircraft is a crucial element affecting the market for more electric aircraft. The use of electrical appliances in aircraft decreases the effort required to maintain the aircraft's many mechanical and hydraulic components, lowering maintenance costs. Electrical appliances aid in enhancing operating efficiency and, as a result, lowering operational costs. This aspect has a beneficial impact on the market's growth over time. Furthermore, the worldwide aerospace sector is experiencing a surge in aircraft demand, prompting manufacturers to embrace the electric aircraft concept. The increased demand for aircraft to handle rising air traffic is boosting the growth of the global More Electric Aircraft market.
The reliability of electrical systems or appliances in harsh environments is a major obstacle to the growth of the More Electric Aircraft market. Under normal conditions, the electrical systems or appliances integrated on an aeroplane to decrease operational and maintenance costs perform efficiently. In adverse weather circumstances, however, the efficiency of more electric aircraft decreases or even fails. This is a big source of concern for aircraft makers and airlines, and it will have a detrimental impact on future industry growth.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Technology, Platform, Application, and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Boeing, Honeywell International Inc., Airbus Group, Safran SA, Bombardier Inc., Raytheon Company, Zodiac Aerospace, United Technologies Corporation, Thales Group, TTTech Computertechnik AG. |
Covid-19 Impact on More Electric Aircraft Market
As the COVID-19 pandemic continuing its effect around the world, many defense and aerospace companies are facing its impact during this time around the world. For instance, commercial aviation companies in the U.S., France, Germany, and Canada are facing disruption in the production process and reduced demand as workforces staying at home, passengers stop traveling, and delay in delivery of new aircraft. Analysts expecting a drop from 3,000 to 4,000 aircraft during the pandemic period. On the defense side, contractors operating in the sector are in a better position, hence the impact of the pandemic is likely low in the short to mid-term. However, low demand due to budget constraints affecting the production as in aircraft manufacturing.
More Electric Aircraft Market Segment Overview
Based on Technology, the Power Electronics segment held the largest share in the global More Electric Aircraft market. This is because of the increased usage of power electronics in power generators, distributors, and convertors. As well, the result of increased use of power electronics is high efficiency, reduction in weight, and variable power. According to the Application, the Power Generation Management segment is the major segment in the market.
More Electric Aircraft Market, By Technology
- Power Electronics
- Safety Systems And Advanced Material
- Thermal Management Systems
- Energy Storage Devices
- Fuel Cell Systems
- Battery Systems
More Electric Aircraft Market, By Platform
- Fixed Wing
- Commercial Aircrafts
- Defense Aircrafts
- Unmanned Aerial Vehicle
- Rotary Wing
More Electric Aircraft Market, By Application
· Power Generation Management
· Air Conditioning and Pressurization
· Passenger Comfort
· Flight Control and Command
· Configuration Management
More Electric Aircraft Regional Overview
Geography, North America, Europe, Asia Pacific, Middle East and Africa, and Latin America are the five strategic areas in which the market for more electric aircraft is divided. North America dominates the market due to the huge number of major competitors, while increased defense budgets in Germany, Russia, and France, among others, are driving the European area to develop at a high CAGR over the years.
More Electric Aircraft Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
More Electric Aircraft Market Competitor overview
Some key developments and strategies adopted by manufacturers in More Electric Aircraft are highlighted below.
· In October 2021, Diamond Aircraft, a subsidiary of Zhejiang Wanfeng Auto Wheel (002085), has announced the development of an all-electric eDA40 training aircraft that deploys Electric Power Systems’ EPiC battery technology.
More Electric Aircraft Market, Key Players
· Boeing
· Honeywell International Inc.
· Airbus Group
· Safran SA
· Bombardier Inc.
· Raytheon Company
· Zodiac Aerospace
· United Technologies Corporation
· Thales Group
· TTTech Computertechnik AG
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the More Electric Aircraft market?
The reduction in operational and maintenance costs in more electric aircraft and the increased demand for aircraft to handle rising air traffic are some key factors that boost the growth of the More Electric Aircraft market.
Q2. What are the restraining factors for the More Electric Aircraft market?
The reliability of electrical systems or appliances in harsh environments is the key factor that hindering the growth of the market.
Q3. Which Segments are covered in the More Electric Aircraft market report?
Technology, Platform, Application, and Region, these segments are covered in the More Electric Aircraft market report.
Q4. Which segment is projected to hold the largest share in the More Electric Aircraft Market. ?
The Power Electronics segment is projected to hold the largest share in the More Electric Aircraft Market.
Q5. Which are the prominent players in the More Electric Aircraft Market?
Boeing, Honeywell International Inc., Airbus Group, Safran SA, Bombardier Inc., Raytheon Company, Zodiac Aerospace, United Technologies Corporation, Thales Group, TTTech Computertechnik AG. are some key players in the More Electric Aircraft Market.
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global More Electric Aircraft Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Technology
- 5.2.1. Power Electronics
- 5.2.2. Safety Systems And Advanced Material
- 5.2.3. Thermal Management Systems
- 5.2.4. Energy Storage Devices
- 5.2.4.1. Fuel Cell Systems
- 5.2.4.2. Battery Systems
- 5.3.1. Fixed Wing
- 5.3.1.1. Commercial Aircrafts
- 5.3.1.2. Defense Aircrafts
- 5.3.1.3. Unmanned Aerial Vehicle
- 5.3.2. Rotary Wing
- 5.4.1. Power Generation Management
- 5.4.2. Air Conditioning and Pressurization
- 5.4.3. Passenger Comfort
- 5.4.4. Flight Control and Command
- 5.4.5. Configuration Management
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America More Electric Aircraft Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Technology
- 6.2.1. Power Electronics
- 6.2.2. Safety Systems And Advanced Material
- 6.2.3. Thermal Management Systems
- 6.2.4. Energy Storage Devices
- 6.2.4.1. Fuel Cell Systems
- 6.2.4.2. Battery Systems
- 6.3.1. Fixed Wing
- 6.3.1.1. Commercial Aircrafts
- 6.3.1.2. Defense Aircrafts
- 6.3.1.3. Unmanned Aerial Vehicle
- 6.3.2. Rotary Wing
- 6.4.1. Power Generation Management
- 6.4.2. Air Conditioning and Pressurization
- 6.4.3. Passenger Comfort
- 6.4.4. Flight Control and Command
- 6.4.5. Configuration Management
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe More Electric Aircraft Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Technology
- 7.2.1. Power Electronics
- 7.2.2. Safety Systems And Advanced Material
- 7.2.3. Thermal Management Systems
- 7.2.4. Energy Storage Devices
- 7.2.4.1. Fuel Cell Systems
- 7.2.4.2. Battery Systems
- 7.3.1. Fixed Wing
- 7.3.1.1. Commercial Aircrafts
- 7.3.1.2. Defense Aircrafts
- 7.3.1.3. Unmanned Aerial Vehicle
- 7.3.2. Rotary Wing
- 7.4.1. Power Generation Management
- 7.4.2. Air Conditioning and Pressurization
- 7.4.3. Passenger Comfort
- 7.4.4. Flight Control and Command
- 7.4.5. Configuration Management
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific More Electric Aircraft Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Technology
- 8.2.1. Power Electronics
- 8.2.2. Safety Systems And Advanced Material
- 8.2.3. Thermal Management Systems
- 8.2.4. Energy Storage Devices
- 8.2.4.1. Fuel Cell Systems
- 8.2.4.2. Battery Systems
- 8.3.1. Fixed Wing
- 8.3.1.1. Commercial Aircrafts
- 8.3.1.2. Defense Aircrafts
- 8.3.1.3. Unmanned Aerial Vehicle
- 8.3.2. Rotary Wing
- 8.4.1. Power Generation Management
- 8.4.2. Air Conditioning and Pressurization
- 8.4.3. Passenger Comfort
- 8.4.4. Flight Control and Command
- 8.4.5. Configuration Management
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa More Electric Aircraft Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Technology
- 9.2.1. Power Electronics
- 9.2.2. Safety Systems And Advanced Material
- 9.2.3. Thermal Management Systems
- 9.2.4. Energy Storage Devices
- 9.2.4.1. Fuel Cell Systems
- 9.2.4.2. Battery Systems
- 9.3.1. Fixed Wing
- 9.3.1.1. Commercial Aircrafts
- 9.3.1.2. Defense Aircrafts
- 9.3.1.3. Unmanned Aerial Vehicle
- 9.3.2. Rotary Wing
- 9.4.1. Power Generation Management
- 9.4.2. Air Conditioning and Pressurization
- 9.4.3. Passenger Comfort
- 9.4.4. Flight Control and Command
- 9.4.5. Configuration Management
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Boeing
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Honeywell International Inc.
- 10.6. Airbus Group
- 10.7. Safran SA
- 10.8. Bombardier Inc.
- 10.9. Raytheon Company
- 10.10. Zodiac Aerospace
- 10.11. United Technologies Corporation
- 10.12. Thales Group
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
