More Electric Aircraft Market by Applications (Military, Commercial, and General Aviation) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
actuator system into The global more electric aircraft market size is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing aircraft emissions.
The more electric aircraft emphasis on the use of electrical ability to drive the non-propulsive airplane frameworks. The utilization of the electrical framework for applications such as slowing down, control surface tasks, and other activation activities adds sustainability to aircraft operations. The adoption of flyby wire frameworks and innovative progressions in aircraft power generation and transformation systems is one of the key factors driving the market growth. Various airline companies are planning to overhaul their planes with cutting edge electrical frameworks. These systems iincrease the overall quality and decrease the support cost of aircraft.
During the more electric aircraft implementation, hydraulic and pneumatic power is replaced with electric power. As the replaced components require a high electric input, the electric energy required in more electric aircraft is much higher than in a conventional aircraft. The adoption of electrical parts related to different frameworks and sub-frameworks in aircraft has generously expanded the interest of more electric aircrafts. However, these frameworks are exorbitant and require high capital to run their operations.
Market Trends, Drivers, Restraints, and Opportunities
- Rising adoption of electric components for crucial systems is expected to drive the market growth.
- Growing use of electric systems to cut down noise pollution and emissions is estimated to contribute to the growth of the market during the forecast period.
- Electrification of propulsion and airframe systems is estimated to facilitate the market development in the coming years.
- The relaxations on the restrictions on air travel is expected to positively influence the market growth.
- High cost of components and devices can restrain the market development.
- Stringent government regulations can hinder the market development.
- Increasing focus on development of electrically powered aircrafts can create lucrative opportunities for the industry players in the projected timeline.
Scope of the Report
The report on the global more electric aircraft market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Report Title | More Electric Aircraft Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
| Base Year | 2020 |
| Historic Data | 2018–2019 |
| Forecast Period | 2021–2028 |
| Segmentation | Applications (Military, Commercial, and General Aviation) |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
| Key Players Covered in the Report | The Boeing Company; Airbus SE; Lockheed Martin Corporation; Honeywell International Inc.; and Safran SA |
More Electric Aircraft Market Segment Insights
Commercial segment is expected to grow at a robust rate
Based on applications, the market is divided into military, commercial, and general aviation. The commercial segment is expected to grow at a rapid pace during the forecast period. An aircraft utilizes electric frameworks to bleed air from engines. New airplane models are being consolidated with more electric design. However, the military segment is anticipated to hold a key share of the market in the coming years due to increasing use of developed electrical systems in military air lifters for medical evacuation and aerial refueling. Moreover, growing investment of government agencies on the military is anticipated to propel the growth of the market segment.
North America is anticipated to constitute a key market share
In terms of regions, the more electric aircraft market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected timeline. Increasing environmental concerns and stringent regulations regarding aircraft emissions are majorly responsible for the domination of more electric aircraft market in the region. Original equipment manufacturers (OEMS) are funding research and development projects, even at university level to developed advanced technologies.
Segments
Segments Covered in the Report
The more electric aircraft market has been segmented on the basis of
Applications
- Military
- Commercial
- General Aviation
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- The Boeing Company
- Airbus SE
- Lockheed Martin Corporation
- Honeywell International Inc.
- Safran SA
Competitive Landscape
Key players competing in the more electric aircraft market are The Boeing Company; Airbus SE; Lockheed Martin Corporation; Honeywell International Inc.; and Safran SA.
Organizations are focusing on research and development in order to make more advanced electric architecture platforms. Increasing focus on renewable sources allowed the industries to reduce propulsion thrust and to do so they are working on conversion of pneumatic/mechanical/hydraulic actuator system into power electronics.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. More Electric Aircraft Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. More Electric Aircraft Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. More Electric Aircraft Market - Supply Chain
4.5. Global More Electric Aircraft Market Forecast
4.5.1. More Electric Aircraft Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. More Electric Aircraft Market Size (000’ Units) and Y-o-Y Growth
4.5.3. More Electric Aircraft Market Absolute $ Opportunity
5. Global More Electric Aircraft Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. More Electric Aircraft Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global More Electric Aircraft Demand Share Forecast, 2019-2026
6. North America More Electric Aircraft Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America More Electric Aircraft Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America More Electric Aircraft Demand Share Forecast, 2019-2026
7. Latin America More Electric Aircraft Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America More Electric Aircraft Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America More Electric Aircraft Demand Share Forecast, 2019-2026
8. Europe More Electric Aircraft Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe More Electric Aircraft Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe More Electric Aircraft Demand Share Forecast, 2019-2026
9. Asia Pacific More Electric Aircraft Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific More Electric Aircraft Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific More Electric Aircraft Demand Share Forecast, 2019-2026
10. Middle East & Africa More Electric Aircraft Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa More Electric Aircraft Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa More Electric Aircraft Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global More Electric Aircraft Market: Market Share Analysis
11.2. More Electric Aircraft Distributors and Customers
11.3. More Electric Aircraft Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
2. Assumptions and Acronyms Used
3. Research Methodology
4. More Electric Aircraft Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. More Electric Aircraft Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. More Electric Aircraft Market - Supply Chain
4.5. Global More Electric Aircraft Market Forecast
4.5.1. More Electric Aircraft Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. More Electric Aircraft Market Size (000’ Units) and Y-o-Y Growth
4.5.3. More Electric Aircraft Market Absolute $ Opportunity
5. Global More Electric Aircraft Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. More Electric Aircraft Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global More Electric Aircraft Demand Share Forecast, 2019-2026
6. North America More Electric Aircraft Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America More Electric Aircraft Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America More Electric Aircraft Demand Share Forecast, 2019-2026
7. Latin America More Electric Aircraft Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America More Electric Aircraft Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America More Electric Aircraft Demand Share Forecast, 2019-2026
8. Europe More Electric Aircraft Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe More Electric Aircraft Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe More Electric Aircraft Demand Share Forecast, 2019-2026
9. Asia Pacific More Electric Aircraft Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific More Electric Aircraft Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific More Electric Aircraft Demand Share Forecast, 2019-2026
10. Middle East & Africa More Electric Aircraft Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa More Electric Aircraft Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa More Electric Aircraft Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global More Electric Aircraft Market: Market Share Analysis
11.2. More Electric Aircraft Distributors and Customers
11.3. More Electric Aircraft Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
Segments Covered in the Report
The more electric aircraft market has been segmented on the basis of
Applications
- Military
- Commercial
- General Aviation
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- The Boeing Company
- Airbus SE
- Lockheed Martin Corporation
- Honeywell International Inc.
- Safran SA
Key players competing in the more electric aircraft market are The Boeing Company; Airbus SE; Lockheed Martin Corporation; Honeywell International Inc.; and Safran SA.
Organizations are focusing on research and development in order to make more advanced electric architecture platforms. Increasing focus on renewable sources allowed the industries to reduce propulsion thrust and to do so they are working on conversion of pneumatic/mechanical/hydraulic actuator system into power electronics.
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