More Electric Aircraft Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Aircraft Type (Fixed, Rotary, Hybrid), By System Type (Propulsion, Airframe), By Application Type (Power Distribution, Passenger Comfort, Air Pressurization & Conditioning, Flight Control & Operations), By Region, By Competition, 2019-2029F

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Summary

Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 8.48 Billion

CAGR (2024-2029)

6.51%

Fastest Growing Segment

Airframe system

Largest Market

North America

Market Size (2029)

USD 12.36 Billion





Market Overview

Global More Electric Aircraft Market was valued at USD 8.48 Billion in 2023 and is expected to reach USD 12.36 Billion by 2029 with a CAGR of 6.51% during the forecast period. The global more electric aircraft (MEA) market represents a transformative shift in aviation, driven by advancements in technology and increasing environmental and economic pressures. More electric aircraft are designed to enhance efficiency by replacing traditional hydraulic and pneumatic systems with electric ones. This shift aims to reduce weight, improve fuel efficiency, and lower operational costs. As a result, MEA technology is becoming increasingly prevalent in both commercial and military aviation sectors.

The market is buoyed by several key factors. Environmental regulations are at the forefront, with governments worldwide imposing stringent standards to reduce greenhouse gas emissions and improve fuel efficiency. The aviation industry, which traditionally relies on fossil fuels and complex mechanical systems, faces mounting pressure to adopt cleaner and more sustainable technologies. MEAs, with their reduced reliance on fossil fuels and lower emissions, align well with these regulatory goals, making them an attractive option for airlines and manufacturers seeking to comply with environmental policies.

Technological advancements also play a critical role in the market's growth. Innovations in electric propulsion, energy storage systems, and lightweight materials are driving the development and deployment of more electric aircraft. Electric propulsion systems, including hybrid-electric and fully electric engines, are becoming more viable due to improvements in battery technology and power electronics. These advancements are not only enhancing the performance and range of MEAs but also making them more economically feasible for commercial use.

Cost efficiency is another significant driver. By reducing the reliance on traditional mechanical systems, which often require extensive maintenance and incur high operational costs, MEAs offer potential savings for airlines. The simplification of aircraft systems can lead to lower maintenance costs and improved reliability, further incentivizing the adoption of more electric technologies. As the technology matures and scales, the cost of electric components and systems is expected to decrease, making MEAs more accessible and cost-effective for a broader range of operators.

The market is also influenced by the growing interest and investment from aerospace manufacturers and technology developers. Major aerospace companies are investing in research and development to advance MEA technologies and bring new products to market. This includes partnerships and collaborations aimed at accelerating innovation and overcoming technical challenges associated with electric aircraft.

Key Market Drivers

Environmental Regulations

The drive towards more electric aircraft is significantly fueled by stringent environmental regulations aimed at reducing aviation's carbon footprint. Governments and regulatory bodies worldwide are increasingly enforcing stricter emissions standards to combat climate change and promote sustainability. For instance, the International Civil Aviation Organization (ICAO) and various national agencies have set ambitious targets for reducing greenhouse gas emissions from aircraft. These regulations are compelling airlines and manufacturers to explore and invest in cleaner technologies. More electric aircraft (MEAs) are seen as a viable solution because they minimize reliance on traditional fossil fuels and reduce overall emissions. By integrating electric propulsion and advanced energy systems, MEAs can help meet regulatory requirements for lower emissions, offering a competitive edge in a market that is increasingly prioritizing environmental responsibility. Additionally, regulatory incentives such as tax breaks and subsidies for adopting green technologies further encourage the development and deployment of MEAs. As environmental regulations become more stringent, the demand for MEAs is expected to grow, driving innovation and accelerating their adoption across the aviation industry.

Technological Advancements

Technological advancements are a major driver for the growth of the more electric aircraft market. Innovations in electric propulsion systems, energy storage technologies, and lightweight materials are transforming the feasibility and performance of electric aircraft. Significant progress has been made in battery technology, which now offers higher energy densities and faster charging times, essential for extending the range and operational efficiency of electric aircraft. Developments in power electronics and electric motors are also contributing to improved performance and reliability of MEAs. Moreover, the integration of advanced avionics and control systems enhances the efficiency and safety of electric aircraft operations. These technological breakthroughs are not only making MEAs more viable but also reducing the cost of production and operation. As technology continues to advance, the capabilities of MEAs are expected to improve, leading to broader adoption in both commercial and military aviation. The ongoing research and development in these areas are crucial for overcoming the existing technical challenges and unlocking the full potential of more electric aircraft.

Cost Efficiency

Cost efficiency is a pivotal driver in the adoption of more electric aircraft. Traditional aircraft systems often involve complex mechanical components that require frequent maintenance and incur high operational costs. By shifting to electric systems, MEAs can significantly reduce maintenance requirements and associated costs due to their simpler, fewer-moving-part design. Electric propulsion systems eliminate the need for traditional hydraulic and pneumatic systems, which not only cuts down on maintenance but also reduces the overall weight of the aircraft, leading to improved fuel efficiency. As the technology matures and economies of scale come into play, the costs of electric components and systems are expected to decrease, making MEAs more affordable for a wider range of operators. Furthermore, the long-term operational savings from reduced fuel consumption and maintenance costs make MEAs an attractive investment for airlines looking to optimize their fleet operations. As these cost benefits become more pronounced, the adoption of MEAs is likely to accelerate, driving further growth in the market.

 

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Key Market Challenges

High Initial Investment and Development Costs

One of the significant challenges facing the global more electric aircraft (MEA) market is the high initial investment and development costs associated with electric propulsion technology. The transition from traditional aircraft systems to more electric solutions involves substantial expenditures in research and development, as well as in the production of advanced components. Developing new electric propulsion systems, energy storage solutions, and lightweight materials requires significant capital investment. For many aerospace companies, especially smaller or new entrants, these costs can be a major barrier to entry. Furthermore, the high cost of advanced batteries and electric motors, which are crucial for the performance of MEAs, adds to the financial burden. While these technologies hold the promise of long-term cost savings, the upfront financial commitment required can deter investment and slow the pace of innovation. Consequently, this challenge affects the speed at which MEAs can be developed and brought to market, potentially hindering the broader adoption of more electric technologies in the aviation sector.

Limited Infrastructure and Support Systems

Another challenge for the global MEA market is the current lack of infrastructure and support systems needed to fully integrate electric aircraft into existing aviation ecosystems. The widespread deployment of MEAs necessitates significant changes in ground support infrastructure, including the development of specialized charging stations, maintenance facilities, and supply chains for electric components. Existing airports and maintenance facilities are predominantly equipped for conventional aircraft, and transitioning to support MEAs requires substantial upgrades. The development of such infrastructure involves collaboration between various stakeholders, including airport authorities, airlines, and government agencies, which can be complex and time-consuming. Additionally, the current lack of standardization in charging and maintenance protocols for electric aircraft further complicates the integration process. Without a robust support system in place, the operational efficiency and scalability of MEAs could be compromised, limiting their adoption and growth in the market.

Technical and Safety Challenges

The integration of more electric technologies into aircraft brings with it several technical and safety challenges. Electric propulsion systems and high-energy batteries are still relatively new in aviation, and ensuring their reliability and safety is crucial. Issues such as battery thermal management, electromagnetic interference, and the robustness of electrical systems under various operating conditions need to be thoroughly addressed. The aviation industry has rigorous safety standards, and electric aircraft must meet these standards to gain regulatory approval and market acceptance. Additionally, the development of fail-safe mechanisms and redundancy systems for critical electric components is essential to prevent potential failures and ensure the safety of passengers and crew. As the technology evolves, addressing these technical and safety concerns is vital for the successful deployment of MEAs. Ensuring that these new technologies are as reliable and safe as traditional aircraft is a key challenge that must be overcome to achieve widespread adoption.

Key Market Trends

Increasing Adoption of Hybrid-Electric Propulsion Systems

A prominent trend in the global more electric aircraft (MEA) market is the increasing adoption of hybrid-electric propulsion systems. Hybrid-electric propulsion integrates traditional jet engines with electric motors, offering a balanced approach to transitioning towards full electric aircraft. This hybrid model leverages the benefits of both systems: the efficiency and range of conventional engines and the reduced emissions and operational costs of electric motors. By combining these technologies, hybrid-electric aircraft can operate efficiently over longer distances and with greater flexibility compared to fully electric aircraft, which may face limitations due to current battery technology. Leading aerospace companies and startups are actively developing hybrid-electric prototypes and conducting flight tests to demonstrate their viability. This trend reflects a strategic approach to bridge the gap between existing technology and future fully electric aircraft, allowing for incremental advancements and broader market acceptance. Hybrid-electric systems are expected to play a critical role in the near-term adoption of more electric technologies, contributing to a gradual but significant shift towards more sustainable aviation.

For instance, in October 2023, Collins Aerospace unveiled ‘The Grid,’ a $50 million laboratory for electric power systems. Situated in Rockford, Illinois, this 25,000 square foot facility started with an 8MW testing capacity for hybrid-electric propulsion components. The initial projects tested included Collins’ 1MW motor for the RTX hybrid-electric flight demonstrator, the EU’s Clean Aviation SWITCH program, and a 1MW generator for the US Air Force Research Laboratory.

Expansion of Electrification in Regional and Urban Air Mobility

The global MEA market is witnessing a growing trend in the expansion of electrification for regional and urban air mobility solutions. Regional aircraft and urban air mobility (UAM) vehicles, such as electric vertical takeoff and landing (eVTOL) aircraft, are increasingly being developed to address the demand for more efficient, low-emission transportation options. These vehicles aim to provide short-haul flights within cities and between regional hubs, offering reduced travel times and alleviating ground traffic congestion. The electrification of these aircraft supports the goals of reducing urban air pollution and improving connectivity in densely populated areas. Various companies are investing in eVTOL technology and regional electric aircraft, driven by advancements in battery technology and electric propulsion. The rise of urban air mobility as a trend reflects the growing interest in integrating electric aircraft into everyday transportation networks, promising a new era of aviation that complements existing transportation infrastructure while addressing environmental and logistical challenges.

For instance, in March 2024, Alaka’i Technologies unveiled its Skai eVTOL, powered by hydrogen fuel cells, advancing the field of more electric aircraft. Unlike battery-electric and hybrid systems, the Skai offers a cleaner, emissions-free solution. Designed to carry four passengers with a range of 200 miles, it represents a major step forward in sustainable air travel.

Growth of Collaborative Partnerships and Ecosystems

A significant trend in the MEA market is the growth of collaborative partnerships and ecosystems involving aerospace manufacturers, technology developers, and governmental bodies. The development and deployment of more electric aircraft require a multi-faceted approach involving expertise from various sectors, including aviation, energy, and materials science. Collaborative efforts are essential for advancing technology, overcoming technical challenges, and establishing the necessary infrastructure for electric aircraft. Partnerships between established aerospace companies and innovative startups are becoming increasingly common, facilitating the sharing of knowledge, resources, and technology. Additionally, government and regulatory agencies are working closely with industry players to create supportive policies and incentives that promote the adoption of electric aviation. These collaborations aim to accelerate research and development, streamline certification processes, and support the creation of infrastructure needed for electric aircraft. The growth of these ecosystems highlights the collective effort required to drive the transition to more electric aviation and reflects the industry's commitment to advancing sustainable and efficient air transport solutions.

Segmental Insights

System Type Analysis

The airframe system has emerged as the fastest-growing segment by system type in the global more electric aircraft (MEA) market, reflecting a significant shift towards integrating advanced electrical systems into aircraft structures. This growth is driven by the increasing emphasis on enhancing aircraft efficiency, reducing operational costs, and meeting stringent environmental regulations. The transition to more electric aircraft represents a transformative shift from traditional hydraulic and pneumatic systems to electrically driven alternatives, which offer numerous benefits, including weight reduction, improved reliability, and lower maintenance requirements.

One of the primary factors contributing to the rapid growth of the airframe system segment is the growing demand for fuel efficiency and reduced emissions. As airlines and manufacturers strive to comply with international regulations aimed at minimizing carbon footprints, electric systems are increasingly seen as a viable solution. Electrical actuation systems for flight controls, landing gear, and braking systems are replacing conventional hydraulic systems, resulting in significant weight savings and increased fuel efficiency. This transition is not only environmentally beneficial but also economically advantageous, as reduced weight translates to lower fuel consumption and operational costs.

Technological advancements play a crucial role in the expansion of the airframe system segment. Innovations in electric motors, power electronics, and battery technologies have made it feasible to implement electrical systems across various components of the airframe. The development of high-efficiency electric actuators and advanced energy storage solutions has facilitated the integration of electric systems in aircraft, enhancing their overall performance and operational capabilities. Advancements in lightweight materials and manufacturing techniques contribute to the efficiency of electric airframe systems, making them more competitive compared to traditional systems.

The drive towards more electric aircraft is also fueled by the need for improved maintenance and operational reliability. Electrical systems generally require less maintenance compared to their hydraulic and pneumatic counterparts, as they have fewer moving parts and are less susceptible to leaks and failures. This reliability enhances aircraft safety and reduces downtime, which is particularly important in commercial aviation where operational efficiency is critical.

The airframe system segment benefits from significant investments in research and development by aerospace companies and regulatory bodies. These investments aim to advance electric technologies, improve system integration, and address challenges related to power management and system reliability. Collaborations between aircraft manufacturers, technology providers, and research institutions are accelerating the development and adoption of electric airframe systems, driving their growth in the MEA market.

 

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Regional Insights

North America is the leading region in the global more electric aircraft (MEA) market due to its technological leadership, significant investments, and strong regulatory support. The region's dominance is largely attributed to the presence of major aerospace manufacturers such as Boeing, Airbus, and Honeywell, which are at the forefront of developing and implementing more electric aircraft technologies. These companies invest heavily in research and development to advance electric propulsion systems, battery technologies, and integrated aircraft systems, aiming to enhance fuel efficiency, reduce emissions, and improve overall aircraft performance.

The regulatory framework in North America also plays a crucial role in supporting the MEA market. Agencies like the Federal Aviation Administration (FAA) and Transport Canada have established clear standards and incentives for electric and hybrid-electric aircraft, facilitating their certification and ensuring safety. This regulatory support fosters innovation and collaboration between industry stakeholders, accelerating the commercialization of electric aircraft technologies.

North America's infrastructure for aviation and aerospace research, supported by partnerships between government agencies, academic institutions, and private companies, further strengthens its position in the MEA market. Research institutions such as NASA and various universities are engaged in advanced projects focused on electric propulsion and system integration, providing valuable innovations to the industry. This collaborative approach contributes to the rapid development of more electric aircraft technologies and reinforces the region's market leadership.

The growing emphasis on environmental sustainability and reducing aviation’s carbon footprint drives demand for more energy-efficient aircraft solutions in North America. Airlines and operators are increasingly adopting electric aircraft technologies to meet stringent environmental regulations and achieve sustainability goals, solidifying North America’s leading role in the MEA market.

Recent Developments

  • In July 2023, Microchip Technology Inc. unveiled its Hybrid Power Drive (HPD) modules, designed to enhance flight control systems for more electric aircraft (MEA). These modules supported the shift from hydraulic to electric systems, enabling aircraft manufacturers to cut weight and streamline designs. The HPD modules offered silicon carbide technology for increased power density, stable temperature performance, and durable, eco-friendly packaging. Additionally, they featured solderable terminals and effective thermal management to optimize performance in electric aircraft.
  • In January 2023, Microchip introduced a new range of integrated power modules for more-electric aircraft (MEA), beginning with a 5kVA power rating. The series offers 12 different variants, featuring either silicon carbide MOSFETs or IGBTs. These modules are designed to enhance the performance and efficiency of hybrid-electric aircraft systems. The announcement highlights Microchip’s dedication to advancing technology for the future of aviation.
  • In August 2023, GE Aerospace revealed its latest design for a hybrid electric aircraft test bench at the Oshkosh air show. The company introduced the test bed for NASA's Electrified Powertrain Flight Demonstration (EPFD) project, collaborating with Boeing and Aurora Flight Sciences. A Saab 340B aircraft will be adapted with both hybrid electric and conventional CT7 engines. This project aims to showcase innovations in electric propulsion and energy management systems.

Key Market Players

  • The Boeing Company
  • Airbus SE
  • Lockheed Martin Corporation
  • Safran SA
  • Honeywell International Inc.
  • RTX 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).

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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, 2023)

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 Analysis

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. RTX 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

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global More Electric Aircraft Market was estimated to be USD 8.48 billion in 2023.

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In 2023, the airframe system was the fastest growing segment by system type in the global more electric aircraft market. This growth was driven by advancements in aircraft design and the increasing adoption of electric technologies in structural components. The trend reflects a shift towards more efficient and environmentally friendly aircraft systems.

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North America was the dominant region in the global more electric aircraft market. This dominance is attributed to the presence of major aircraft manufacturers, significant investments in electric aircraft technology, and strong support from regulatory bodies. The region's leadership underscores its commitment to advancing aerospace innovation and sustainability.

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The major drivers for the global more electric aircraft market include advancements in electric propulsion technology, rising environmental regulations demanding lower emissions, and the need for operational cost savings through fuel efficiency. Additionally, increased investment in research and development supports innovation and adoption in the aerospace sector.

Related Reports

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Srishti Verma

Business Consultant
Press Release

More Electric Aircraft Market to Grow with a CAGR of 6.51% Globally through 2029

Jul, 2024

The growing focus on reducing carbon emissions, advancements in battery technology, and increasing government incentives for green aviation are the factors driving the market in the forecast period.

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