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Aircraft Electrification Market Report
Aircraft Electrification Market Size, Share, Trend, Forecast, & Industry Analysis
The Aircraft Electrification Market is Segmented by Platform Type (Commercial Aircraft, Military Aircraft, and General Aviation), by Technology Type (More Electric, Hybrid Electric, and Fully Electric), by Application Type ...
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 |
12.5% for the next five years |
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Major System Type |
Propulsion Systems |
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Region with the highest demand |
Europe |
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Key Players |
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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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.
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.
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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 |
6 |
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Regions Covered |
4 |
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Countries/Sub-Regions Covered |
15 |
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No. of Figures & Tables |
>150 |
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Company Profiles |
10 |
The aircraft electrification market is segmented into the following categories.
Some of the major players in the aircraft electrification market are-
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.
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:
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Market Segmentation
Competitive Benchmarking
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 sales@stratviewresearch.com.
Driven by the factors like demand for electric aircraft propulsion systems and emergence of electric-powered aircraft, the aircraft electrification market is expected to witness an impressive growth of 12.5% CAGR.
Europe is estimated to be the largest market for aircraft electrification during the next five years.
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 are among the key players in the Aircraft Electrification Market.
The propulsion systems segment is expected to hold the larger share of the aircraft electrification market in the coming years.
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 the factors driving the growth of aircraft electrification market.
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