Electric Aircraft Market, By Type (Ultralight Aircraft and Light Jet), by Component (Battery, Electric Motor, and Others), By Technology (Hybrid and All Electric), By Power Range (Less than 500 Km and More than 500 Km), By Application (Commercial, Militar

Electric Aircraft Market, By Type (Ultralight Aircraft and Light Jet), by Component (Battery, Electric Motor, and Others), By Technology (Hybrid and All Electric), By Power Range (Less than 500 Km and More than 500 Km), By Application (Commercial, Military, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Electric aircraft is driven by the use of electric motors and are equipped with electrical systems. These aircraft are light in weight with less fuel usage and reduced emissions. The non-propulsive power systems such as mechanical, hydraulic, and pneumatic are replaced with an electrical system that helps in reducing the operating cost of the electric aircraft. The absence of heavy machines that require proper maintenance provides better efficiency and it makes electrical system a suitable option for both aircraft manufacturers and aircraft carriers. Electric aircraft are highly innovative with respect to technology and functioning. Electric aircraft uses different sources of energy in order to preserve non-renewable energy and it is considered better than traditional aircraft, which is expected to drive the market growth during the forecast period.
Market Dynamics
The global electric aircraft market is expected to grow significantly during the forecast period, owing to the increasing airline passengers. This is attributed to the rising disposable income of people in emerging and developed countries. For instance, in China, according to the National Bureau of Statistics (NBS), rural and urban per capita disposable income reached US$ 5,658.45 from US$ 2,107.2 in 2018. Moreover, according to the U.S. Bureau of Economic Analysis (BEA), disposable personal income increased to US$ 16,706.40 million in December 2021 from US$ 16,675.80 million in November 2021 in the U.S. Furthermore, the tourism industry continues to expand and it became vital for manufacturers to find alternatives that will not only boost the capacity of electric aircraft and also protect the environment from air, noise, and ground pollution due to increased air traffic. For instance, regulatory bodies such as International Civil Aviation Organization (ICAO), International Air Transport Association (IATA), and Federal Aviation Administration (FAA) introduced several regulatory policies to minimize carbon emission. Furthermore, in February 2020, Thales Group launched PUREFLYT, a flight management system (FMS) that is designed to provide safety, security, reduces the consumption of fuel, and increase operational efficiency. Due to this, electric aircraft manufacturers are integrating a single electric system into planes instead of a heavy mechanical system that consist of several individual parts.
Moreover, several global players across different regions are focusing on developing new products with new features and technologies to gain a competitive edge in the market. Industries are focusing on developing new products with new features to cater to the demand from the end users. For instance, in April 2021, Collins Aerospace, a subsidiary of Raytheon Technologies Corporation, the largest supplier of aerospace & defense products, launched The Grid, the most advanced electric power system laboratory. Various systems such as high-power generators are designed and tested in this laboratory.

Key features of the study:
This report provides in-depth analysis of the global electric aircraft market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by the leading market players
It profiles leading players in the global electric aircraft market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, market capital, key developments, strategies, and future plans
Companies covered as a part of this study include Boeing, Airbus, Raytheon Technologies Corporation, Honeywell International Inc., Thales Group, Lockheed Martin Corporation, Zunum Aero, YUNEEC, Elektra Solar GmbH, PIPISTREL, BYE AEROSPACE, DELOREAN AEROSPACE, LLC, Joby Aviation, Siemens, Safran, Bombardier, TTTech Computertechnik AG, and AgustaWestland
Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, product upgrades, market expansion, and marketing tactics
The global electric aircraft market report caters to various stakeholders in this industry including investors, suppliers, managed service providers, third-party service providers, distributors, new entrants, and value-added resellers
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global electric aircraft market
Detailed Segmentation
Global Electric Aircraft Market, By Type:
Ultralight Aircraft
Light Jet
Global Electric Aircraft Market, By Component:
Battery
Electric Motor
Others
Global Electric Aircraft Market, By Technology:
Hybrid
All Electric
Global Electric Aircraft Market, By Power Range:
Less than 500 Km
More than 500 Km
Global Electric Aircraft Market, By Application:
Commercial
Military
Others
Global Electric Aircraft Market, By Region:
North America
By Type:
Ultralight Aircraft
Light Jet
By Component:
Battery
Electric Motor
Others
By Technology:
Hybrid
All Electric
By Power Range:
Less than 500 Km
More than 500 Km
By Application:
Commercial
Military
Others
By Country:
U.S.
Canada
Europe
By Type:
Ultralight Aircraft
Light Jet
By Component:
Battery
Electric Motor
Others
By Technology:
Hybrid
All Electric
By Power Range:
Less than 500 Km
More than 500 Km
By Application:
Commercial
Military
Others
By Country:
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Type:
Ultralight Aircraft
Light Jet
By Component:
Battery
Electric Motor
Others
By Technology:
Hybrid
All Electric
By Power Range:
Less than 500 Km
More than 500 Km
By Application:
Commercial
Military
Others
By Country:
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
By Type:
Ultralight Aircraft
Light Jet
By Component:
Battery
Electric Motor
Others
By Technology:
Hybrid
All Electric
By Power Range:
Less than 500 Km
More than 500 Km
By Application:
Commercial
Military
Others
By Country:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East and Africa
By Type:
Ultralight Aircraft
Light Jet
By Component:
Battery
Electric Motor
Others
By Technology:
Hybrid
All Electric
By Power Range:
Less than 500 Km
More than 500 Km
By Application:
Commercial
Military
Others
By Country/Region:
GCC Countries
South Africa
Rest of Middle East and Africa
Company Profiles
Boeing*
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments/ Updates
Airbus
Raytheon Technologies Corporation
Honeywell International Inc.
Thales Group
Lockheed Martin Corporation
Zunum Aero
YUNEEC
Elektra Solar GmbH
PIPISTREL
BYE AEROSPACE
DELOREAN AEROSPACE, LLC
Joby Aviation
Siemens
Safran
Bombardier
TTTech Computertechnik AG
AgustaWestland
“*” marked represents similar pointers for each company.