PUBLISHER: IMARC | PRODUCT CODE: 1370236
PUBLISHER: IMARC | PRODUCT CODE: 1370236
More Electric Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Abstract
Market Overview:
The global more electric aircraft market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.6 Billion by 2028, exhibiting a growth rate (CAGR) of 16.53% during 2023-2028. Rising construction of airports, increasing utilization to reduce noise pollution and fuel dependency, and growing environment consciousness among the masses represent some of the key factors driving the market.
More electric aircraft (MEA) refers to an efficient airplane system that utilizes advanced electrical units to operate an aircraft by replacing generic pneumatic and hydraulic equipment. It comprises an efficient electric propulsion system integrated with motors, controllers, hardware and software, gearboxes, and cooling systems. It also consists of large lithium-ion batteries, which release electrons that power the propellers of the aircraft. It provides safer, more comfortable, and pollution-free operation. It also reduces the fuel dependency of aircraft and enables sustainable aviation. It does not include complex internal combustion engines and requires minimum maintenance and operational costs. MEA offers better functioning and reduced complexity, vulnerability, and redundancy compared to conventional aircraft due to the removal of hydraulic systems. It produces little or no noise, which is beneficial for the passengers inside the aircraft, employees in the airport, and residents around the airport. Furthermore, as it is efficient, easy to maintain, and affordable, the demand for MEA is rising around the world.
More Electric Aircraft Market Trends:
At present, the increasing demand for MEAs due to their energy-efficient properties represents one of the primary factors influencing the market positively. Besides this, the rising number of airports and scheduled flights to accommodate passengers daily is propelling the growth of the market. In addition, the growing environmental consciousness among individuals due to the rising levels of air pollution and depletion of natural resources is offering a favorable market outlook. Apart from this, there is an increase in the integration of electrical systems in aircraft to reduce the incorporation of movable parts, which are susceptible to wear and tear. This, coupled with the rising utilization of no-bleed architecture to improve power efficiency in airplanes, is contributing to the growth of the market. Additionally, governing agencies of various countries are implying stringent policies on aviation companies to reduce noise pollution caused by aircraft, which is supporting the market growth. Moreover, the increasing utilization of MEAs by aviation companies to operate near cities and dwellings throughout the day without disturbing communities is bolstering the market growth. Furthermore, key market players are manufacturing MEAs integrated with fault-tolerant electric machines, electro-hydrostatic actuators, electromechanical actuators, and fault-tolerant electrical power systems to improve their functionalities.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global more electric aircraft market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application, technology and aircraft type.
Application Insights:
Air Pressurization and Conditioning
Configuration Management
Flight Control Operations Management
Power Generation Management
Power Distribution Management
Others
The report has provided a detailed breakup and analysis of the more electric aircraft market based on the application. This includes air pressurization and conditioning, configuration management, flight control operations management, power generation management, power distribution management, and others. According to the report, power distribution management represented the largest segment.
Technology Insights:
Safety Systems and Advanced Materials
Power Electronics
Energy Storage Devices
Thermal Management Systems
Others
A detailed breakup and analysis of the more electric aircraft market based on the technology has also been provided in the report. This includes safety systems and advanced materials, power electronics, energy storage devices, thermal management systems, and others.
Aircraft Type Insights:
Fixed Wing (Narrow Body/Wide Body/Very Large Body) Aircraft
Rotary Wing Aircraft
Unmanned Aerial Vehicles
Others
A detailed breakup and analysis of the more electric aircraft market based on the aircraft type has also been provided in the report. This includes fixed wing (narrow body/wide body/very large body) aircraft, rotary wing aircraft, unmanned aerial vehicles, and others. According to the report, fixed wing (narrow body/wide body/very large body) accounted for the largest market share.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for more electric aircraft. Some of the factors driving the North America more electric aircraft market included its rising initiatives to reduce carbon footprint, increasing demand for low maintenance aircrafts, growing number of airports, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global more electric aircraft market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Airbus SE, Bombardier Inc., Honeywell International Inc., Lockheed Martin Corporation, Raytheon Technologies Corporation, Rolls-Royce Holdings Plc, Safran S.A., Thales Group, The Boeing Company, TTTech Computertechnik AG, United Technologies Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global more electric aircraft market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global more electric aircraft market?
- What is the impact of each driver, restraint, and opportunity on the global more electric aircraft market?
- What are the key regional markets?
- Which countries represent the most attractive more electric aircraft markets?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the more electric aircraft market?
- What is the breakup of the market based on technology?
- Which is the most attractive technology in the more electric aircraft market?
- What is the breakup of the market based on the aircraft type?
- Which is the most attractive aircraft type in the more electric aircraft market?
- What is the competitive structure of the global more electric aircraft market?
- Who are the key players/companies in the global more electric aircraft market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global More Electric Aircraft Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Application
- 6.1 Air Pressurization and Conditioning
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Configuration Management
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Flight Control Operations Management
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Power Generation Management
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Power Distribution Management
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Technology
- 7.1 Safety Systems and Advanced Materials
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Power Electronics
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Energy Storage Devices
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Thermal Management Systems
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Others
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
8 Market Breakup by Aircraft Type
- 8.1 Fixed Wing (Narrow Body/Wide Body/Very Large Body) Aircraft
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Rotary Wing Aircraft
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Unmanned Aerial Vehicles
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Indicators
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Airbus SE
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Bombardier Inc.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 Honeywell International Inc.
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Lockheed Martin
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 Raytheon Company
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Rolls-Royce Holdings Plc
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Safran S.A.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.8 Thales Group
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.9 The Boeing Company
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 TTTech Computertechnik AG
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.11 United Technologies Corporation
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.1 Airbus SE
List of Figures
- Figure 1: Global: More Electric Aircraft Market: Major Drivers and Challenges
- Figure 2: Global: More Electric Aircraft Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: More Electric Aircraft Market: Breakup by Application (in %), 2022
- Figure 4: Global: More Electric Aircraft Market: Breakup by Technology (in %), 2022
- Figure 5: Global: More Electric Aircraft Market: Breakup by Aircraft Type (in %), 2022
- Figure 6: Global: More Electric Aircraft Market: Breakup by Region (in %), 2022
- Figure 7: Global: More Electric Aircraft Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 8: Global: More Electric Aircraft (Air Pressurization and Conditioning) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: More Electric Aircraft (Air Pressurization and Conditioning) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: More Electric Aircraft (Configuration Management) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: More Electric Aircraft (Configuration Management) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: More Electric Aircraft (Flight Control Operations Management) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: More Electric Aircraft (Flight Control Operations Management) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: More Electric Aircraft (Power Generation Management) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: More Electric Aircraft (Power Generation Management) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: More Electric Aircraft (Power Distribution Management) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: More Electric Aircraft (Power Distribution Management) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: More Electric Aircraft (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: More Electric Aircraft (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: More Electric Aircraft (Safety Systems and Advanced Materials) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: More Electric Aircraft (Safety Systems and Advanced Materials) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: More Electric Aircraft (Power Electronics) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: More Electric Aircraft (Power Electronics) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: More Electric Aircraft (Energy Storage Devices) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: More Electric Aircraft (Energy Storage Devices) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: More Electric Aircraft (Thermal Management Systems) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: More Electric Aircraft (Thermal Management Systems) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: More Electric Aircraft (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: More Electric Aircraft (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: More Electric Aircraft (Fixed Wing- Narrow Body/Wide Body/Very Large Body) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: More Electric Aircraft (Fixed Wing- Narrow Body/Wide Body/Very Large Body) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: More Electric Aircraft (Rotary Wing Aircraft) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: More Electric Aircraft (Rotary Wing Aircraft) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: Global: More Electric Aircraft (Unmanned Aerial Vehicles) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: Global: More Electric Aircraft (Unmanned Aerial Vehicles) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: Global: More Electric Aircraft (Others) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: Global: More Electric Aircraft (Others) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: North America: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: North America: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: United States: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: United States: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: Canada: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: Canada: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Asia Pacific: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Asia Pacific: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: China: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: China: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: Japan: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: Japan: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: India: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: India: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: South Korea: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: South Korea: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Australia: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Australia: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Indonesia: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Indonesia: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Others: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Others: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: Europe: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: Europe: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: Germany: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: Germany: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: France: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: France: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: United Kingdom: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: United Kingdom: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Italy: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Italy: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Spain: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Spain: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Russia: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Russia: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Others: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Others: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Latin America: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Latin America: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Brazil: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Brazil: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Mexico: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 81: Mexico: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 82: Others: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 83: Others: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 84: Middle East and Africa: More Electric Aircraft Market: Sales Value (in Million US$), 2017 & 2022
- Figure 85: Middle East and Africa: More Electric Aircraft Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 86: Global: More Electric Aircraft Industry: SWOT Analysis
- Figure 87: Global: More Electric Aircraft Industry: Value Chain Analysis
- Figure 88: Global: More Electric Aircraft Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: More Electric Aircraft Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: More Electric Aircraft Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 3: Global: More Electric Aircraft Market Forecast: Breakup by Technology (in Million US$), 2023-2028
- Table 4: Global: More Electric Aircraft Market Forecast: Breakup by Aircraft Type (in Million US$), 2023-2028
- Table 5: Global: More Electric Aircraft Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: More Electric Aircraft Market Structure
- Table 7: Global: More Electric Aircraft Market: Key Players
