About More Electric Aircraft
The More Electric Aircraft underlines the utilization of electrical power to drive the non-propulsive aircraft systems. The aircraft is powered by electricity, almost always via one or more electric motors that drive propellers, which may be supplied by a variety of methods like batteries or solar cells. It is developed in order to reduce noise, fuel consumption, and carbon emission. In today’s time, the aviation industry is rapidly moving towards the MEA concept and replacing the hydraulic and pneumatic systems equipping current aircraft with electrical systems.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global More Electric Aircraft market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Safran Group (France), Collins Aerospace (United States), The Boeing (United States), The Airbus (France), Honeywell International (United States), United Technologies (United States), Thales Group (France), Zodiac Aerospace (France) and Raytheon (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Tttech Computertechnik (Austria) and Others.
Segmentation Overview
AMA Research has segmented the market of Global More Electric Aircraft market by Type (Power Electronics, Thermal Management and Energy Storage), Application (Power Generation, Air Pressurization, Power Distribution and Power Conversion) and Region.
On the basis of geography, the market of More 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). If we see Market by End-user, the sub-segment i.e. Commercial Aviation will boost the More Electric Aircraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Technological Advancements and Development of innovative Electronic Systems
Market Growth Drivers:
Increasing Demand to Optimize Aircraft Performance, Decrease Operating, and Maintenance Costs, and Reduce Fuel Consumption
Challenges:
The Electronic Power Motors Installed in the Electric Aircraft are Heavier
Restraints:
High Investment for the Installation of Electrical Systems and Long Clearance Period
Opportunities:
Increasing Initiatives by Military Aviation for Converting Most of the Pneumatic and Hydraulic Systems in the Electrical Systems
Market Leaders and their expansionary development strategies
In August 2021, US manufacturer Parker Hannifin announced the acquisition of UK-based aerospace company Meggitt. Meggitt produces a variety of aircraft components, including brakes, fire and safety systems, power and sensing systems, fuel systems, composites, and polymer seals. The Acquisition will help Parker Hannifin to expand and develop core product lines, add new capabilities and enable innovations on more electric, low-carbon, and other key technologies.
In November 2023, Norfolk-based private charter operator SaxonAir announced the launch of an "Electiflying" pleasure flight on board the world's first certified electric aircraft.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, More Electric Aircraft Providers, Aircraft Manufacturers, Raw materials Suppliers & Manufacturers of Electric Components, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others
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.