About Electric Aircraft
An electric aircraft is an aircraft powered by electric motors through electricity supplied by a variety of methods, such as batteries, fuel cells, solar cells, ultracapacitors, and power beaming. The global electric aircraft market is expected to register the high growth during the forecast period compared to traditional aircraft as well as lower cost of ownership of electric aircraft. Rising fuel prices have become increasing concern for aviation companies, thus, the focus on electrical energy as an efficient and eco-friendly substitute to conventional fuel may boost the global electric aircraft market demand in near future. Moreover, it is aid in reducing air, noise and ground pollution which reduces hazards of global warming
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Electric Aircraft is highly competitive, with several key players dominating the industry. The market players are focused on developing a variety of features and benefits to meet the needs. Thus, constantly introducing new innovation in processing to meet the changing needs and preferences of consumers. The companies are also planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Electric Aircraft market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Yuneec International (China), Zunum Aero (United States), PC Aero (Germany), Pipistrel (Italy), Lilium (Germany), Eviation Aircraft (Israel), Schempp-Hirth (Germany), Volta-Volaré (United States), Electric Aircraft Corporation (United States) and Bye Aerospace (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are DeLorean Aerospace (United States), Joby Aviation (United States), Siemens (Germany) and Evektor (Czech Republic).
Segmentation Overview
AMA Research has segmented the market of Global Electric Aircraft market by Type (Ultralight Aircraft and Light Jet) and Region.
On the basis of Type, Ultralight Aircraft are dominating the market in the year 2023 where as Light Jet stood as second largest market share.
On the basis of geography, the market of Electric Aircraft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Hybrid will boost the Electric Aircraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Battery will boost the Electric Aircraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Advanced Technologies in Electric Aircraft Market and Acceptance of Electrical Systems by Diverse Aircraft Type
Market Growth Drivers:
Benefits of Electric Aircraft over Traditional Aircraft and Ownership of Lower Cost of Electric Aircraft
Challenges:
Reliability of Electrical Systems in Cruel Environment and Optimization in Electrical Systems
Restraints:
Several regulatory issues
Opportunities:
Development of High-Density Battery Solutions for Electric Aircraft
Market Leaders and their expansionary development strategies
In Oct, 2018, Hybrid-to-electric airplane manufacturer Zunum Aero and France’s Safran Helicopter Engines are teaming up to create the airplane of the future fuel efficient, cost efficient, and better for the planet.
In May 2018, Zunum Aero, a pioneer in electric aviation, and JetSuite, Inc., a leading private aviation company, revealed today that JetSuite will be the launch customer for Zunum’s hybrid-to-electric aircraft. The aircraft, the first of a planned family of regional platforms, seats up to 12 passengers and is slated for delivery in 2022.
In the United States, the Environmental Protection Agency announced that it is going to study aircraft emissions to determine whether they are a risk to public health or the environment and potentially move to control them. Reducing emissions could be as simple as improving flight path efficiency and fuel burn. These would result in carbon-neutral growth in America by 2020, and save 1.4 billion gallons of fuel. and The European Aviation Safety Agency (EASA) is responsible for developing technical aviation rule
Key Target Audience
Manufacturers of electric aircraft, Suppliers of electric aircraft parts, Wholesalers, distributers and retailers of electric aircraft, Aerospace industry and Governmental bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.