The global more electric aircraft market grew at a CAGR of 6.5% during 2014-2019. More electric aircraft (MEA) involves the utilization of advanced electrical systems to replace the commonly used pneumatic equipment. In these aircraft, non-propulsive functions, such as pressurization, de-icing, engine starting, flight controls and actuation of the landing gear, are electrified, thereby making them highly energy efficient. They also utilize power electronics, energy storage devices, and thermal management, safety, battery and fuel cell systems. In comparison to the traditionally used aircraft, MEA are safer, environment-friendly and cause minimal noise pollution and generate lower carbon emissions.
Significant growth in the aviation industry, along with a growing need to optimize aircraft performance, is among the key factors driving the growth of the market. In line with this, widespread adoption of MEA, owing to associated benefits such as reduced operating and maintenance costs and increased reliability, is contributing to the market growth. This has further enabled the utilization of technologically advanced power electronics, fault-tolerant equipment, electro-hydrostatic actuators and flight control systems. Apart from this, various high-density electric motors, power conversion and generation systems are also used in the MEA. Additionally, the growing adoption of these aircraft in the commercial sector is also providing a boost to the market growth. New aircraft are now increasingly being integrated with more electric architecture that has potential advantages, such as improved fuel efficiency, aircraft reliability and minimal dependency on fossil fuels. Other factors, including the growing adoption of unmanned aerial vehicles (UAV) in the defense sector, along with the implementation of favorable government policies to ensure the continual research and development (R&D) and launch of effective and advanced product variants, are projected to drive the market further.
Breakup by Application:
- Air Pressurization and Conditioning
- Configuration Management
- Flight Control Operations Management
- Power Generation Management
- Power Distribution Management
Breakup by Technology:
- Safety Systems and Advanced Materials
- Power Electronics
- Energy Storage Devices
- Thermal Management Systems
Breakup by Aircraft Type:
- Fixed Wing (Narrow Body/Wide Body/Very Large Body) Aircraft
- Rotary Wing Aircraft
- Unmanned Aerial Vehicles
Breakup by Region:
- North America
- United States
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being Airbus SE, Bombardier Inc., Honeywell International Inc., Lockheed Martin, Raytheon Company, Rolls-Royce Holdings Plc., Safran S.A., Thales Group, The Boeing Company, TTTech Computertechnik AG, United Technologies Corporation, etc.
Key questions answered in this report:
- How has the global more electric aircraft market performed so far and how will it perform in the coming years?
- What are the key regional markets?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the aircraft type?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global more electric aircraft market and who are the key players?
- What is the degree of competition in the industry?