Aircraft Electrification

Global Aircraft Electrification Market to Reach US$15.1 Billion by 2030

The global market for Aircraft Electrification estimated at US$7.7 Billion in the year 2024, is expected to reach US$15.1 Billion by 2030, growing at a CAGR of 12.0% over the analysis period 2024-2030. Aircraft Distribution Devices, one of the segments analyzed in the report, is expected to record a 14.2% CAGR and reach US$3.9 Billion by the end of the analysis period. Growth in the Aircraft Power Electronics segment is estimated at 10.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.1 Billion While China is Forecast to Grow at 16.6% CAGR

The Aircraft Electrification market in the U.S. is estimated at US$2.1 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$3.4 Billion by the year 2030 trailing a CAGR of 16.6% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 8.6% and 10.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.4% CAGR.

Global Aircraft Electrification Market - Key Trends & Drivers Summarized

What Is Aircraft Electrification and Why Does It Matter?
Aircraft electrification refers to the shift from traditional mechanical and hydraulic systems to advanced electrical systems in aircraft. This transformation includes the incorporation of electric power for propulsion, replacing or augmenting conventional combustion engines with electric motors, and using batteries or fuel cells as energy sources. The move towards aircraft electrification is driven by the need to reduce carbon emissions, enhance energy efficiency, and decrease dependency on fossil fuels, which are becoming increasingly critical as the global aviation industry seeks sustainable growth pathways. Electrification not only promises to lower operational costs through reduced fuel consumption and maintenance but also aims to significantly decrease the environmental impact of air travel by reducing noise levels and emissions.

How Are Technological Advancements Shaping the Aircraft Electrification Movement?
Technological advancements are at the heart of the push towards aircraft electrification. Innovations in battery technology, electric motors, and power electronics are crucial for overcoming the challenges associated with electric propulsion, including energy density, safety, and reliability. Developments in superconducting materials and hybrid-electric systems also play a pivotal role, offering ways to enhance the efficiency and performance of electrical systems while managing the weight penalties typically associated with electric components. Furthermore, advancements in software and digital systems allow for more sophisticated energy management and operational efficiency, integrating various subsystems in the aircraft to optimize power consumption and distribution in real-time.

What Are the Major Challenges Facing Aircraft Electrification?
Despite its potential benefits, aircraft electrification faces significant challenges that must be addressed to realize widespread adoption. One of the primary barriers is the current limitation in battery technology, particularly concerning energy density and weight, which significantly impacts the range and payload capabilities of electric aircraft. Safety concerns related to high-voltage electrical systems and battery fires also pose considerable challenges, necessitating rigorous standards and innovative solutions to ensure reliability and passenger safety. Additionally, the lack of existing infrastructure to support electric aircraft, such as charging stations at airports and maintenance facilities equipped to handle electric systems, further complicates the transition from conventional aircraft designs.

What Are the Growth Drivers for the Aircraft Electrification Market?
The growth in the aircraft electrification market is driven by several factors, including stringent global regulations on carbon emissions pushing the aviation industry to adopt cleaner technologies. Increasing fuel prices are also a significant economic factor, as airlines seek more fuel-efficient technologies to reduce operating costs. Additionally, public and governmental pressure for greener transportation modes has led to greater investment and funding for research and development in electric aviation solutions. The rising interest in urban air mobility solutions, such as drones and electric vertical takeoff and landing (eVTOL) aircraft, for commercial and personal transport in congested urban centers, provides a substantial push for the industry. Technological breakthroughs in related fields, such as autonomous flight and advanced materials, further enable this shift by making electric aircraft more viable and attractive. These drivers, combined with the evolving consumer behavior favoring sustainability, ensure that aircraft electrification remains a key focus area for innovation and development in the aerospace sector.

SCOPE OF STUDY:

The report analyzes the Aircraft Electrification market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Aircraft Distribution Devices, Aircraft Power Electronics, Aircraft Generators, Aircraft Electric Actuators, Aircraft Batteries, Aircraft Motors, Aircraft Fuel Cells, Other Components); Technology (More Electric Technology, Hybrid Electric Technology, Fully Electric Technology); Application (Power Generation Application, Power Distribution Application, Power Conversion Application, Energy Storage Application)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 52 Featured) -

• Airbus SE
• Astronics Corporation
• BAE Systems Plc
• Crane Aerospace & Electronics
• Cyient Ltd.
• Eaton Corporation Plc
• Eviation
• GE Aerospace
• Honeywell Aerospace Technologies
• Honeywell International, Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.