Aircraft Electrification Market Insights
Aircraft electrification market is likely to witness an impressive CAGR of 12.5% during the forecast period. Factors such as surge in demand for electric aircraft propulsion systems, emergence of electric-powered aircraft, increasing initiatives to reduce environmental emissions through aircraft and strict regulations concerning carbon emissions by aircraft are bolstering the growth of the aircraft electrification market, globally.
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Aircraft Electrification Market – Snapshot
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Growth
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12.5% for the next five years
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Major System Type
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Propulsion Systems
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Region with the highest demand
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Europe
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Key Players
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Honeywell International Inc., Safran S.A., Thales Group, United Technologies Corporation, GE Aviation, Avionic Instruments, LLC, AMETEK Inc., Meggitt PLC, BAE Systems, Radiant Power Corporation
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Market Share Analysis
Aircraft Electrification Market Share: By System Type
Based on the system type, the market is segmented as propulsion systems and aircraft systems. The propulsion systems segment is expected to hold the larger share of the market during the forecast period. Increasing concerns towards reduction in fuel consumption and carbon emissions are fueling the adoption of electrical propulsion systems. Further, surge in penetration of electric components in the aircraft propulsion systems is expected to reduce fuel burn substantially that will lead to reduce the environmental emissions.
Aircraft Electrification Market Share: By Region
In terms of regions, Europe is estimated to be the largest market for aircraft electrification during the forecast period, with France, Germany, The UK, and Switzerland being the major countries with lucrative growth opportunities. Increasing passenger traffic in the region, along with increasing concerns regarding passenger safety, carbon emissions, and noise pollution in various government regulatory bodies, such as the European Defense Agency (EDA), the European Union Aviation Safety Agency (EASA), the European Air Transport Command, and the UK Civil Aviation Authority (CAA), is fueling the demand for aircraft electrification. Further, presence of key electric aircraft manufacturers, such as Rolls Royce plc, Safran S.A., GKN plc, and Thales Group is driving the growth of the region’s market.
Some of the major players in the aircraft electrification market are Honeywell International Inc., Safran S.A., Thales Group, United Technologies Corporation, GE Aviation, Avionic Instruments, LLC, AMETEK Inc., Meggitt PLC, BAE Systems, and Radiant Power Corporation.
Market Scope & Segmentation
Carbon-based fuels such as kerosene or gasoline have been the primary source of fuel for aircraft. These fuels are used to power the aircraft engines to lift the largest airliners. Aviation fuels are also the major contributors of CO2 emissions, and with the decreasing oil resources, the aviation industry is constantly finding an alternative power source. Increasing research & development for electric propulsion in aircraft is one way to reduce the environmental emissions and increase the fuel efficiency of aircraft.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Aircraft Electrification Market Research Report – Features
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Market Segmentation
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6
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Regions Covered
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4
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Countries/Sub-Regions Covered
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15
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No. of Figures & Tables
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>150
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Company Profiles
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10
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The aircraft electrification market is segmented into the following categories.
Aircraft Electrification Market Size, Share, & Forecast, by Platform Type:
- Commercial Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Military Aircraft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- General Aviation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Electrification Market Size, Share, & Forecast, by Technology Type:
- More Electric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Hybrid Electric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fully Electric (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Electrification Market Size, Share, & Forecast, by Application Type:
- Power Generation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Power Distribution (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Power Conversion (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Energy Storage (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Electrification Market Size, Share, & Forecast, by System Type:
- Propulsion Systems (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Aircraft Systems (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Electrification Market Size, Share, & Forecast, by Component Type:
- Batteries (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Fuel Cells (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Solar Cells (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Electric Actuators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Electric Pumps (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Generators (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Motors (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Power Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Distribution Devices (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Aircraft Electrification Market Size, Share, & Forecast, by Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Switzerland, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the platform types by application type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
