More Electric Aircraft

More Electric Aircraft

Global More Electric Aircraft Market to Reach US$11.2 Billion by 2030

The global market for More Electric Aircraft estimated at US$3.7 Billion in the year 2023, is expected to reach US$11.2 Billion by 2030, growing at a CAGR of 17.2% over the analysis period 2023-2030. Power Distribution Solutions, one of the segments analyzed in the report, is expected to record a 17.2% CAGR and reach US$4.4 Billion by the end of the analysis period. Growth in the Power Generation Solutions segment is estimated at 18.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.0 Billion While China is Forecast to Grow at 16.3% CAGR

The More Electric Aircraft market in the U.S. is estimated at US$1.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.7 Billion by the year 2030 trailing a CAGR of 16.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 15.2% and 14.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.4% CAGR.

Global More Electric Aircraft Market - Key Trends & Drivers Summarized

What Defines More Electric Aircraft and Their Impact on Aviation?

More Electric Aircraft (MEA) represent a transformative evolution in aircraft design, focusing on replacing hydraulic, pneumatic, and mechanical systems with advanced electrical systems. This shift is motivated by the pursuit of enhanced efficiency, reliability, and reduced operational costs. MEAs leverage electrical power for functions traditionally operated by other means, including actuation, deicing, cooling, and cabin pressurization. The shift not only reduces the weight of the aircraft—leading to lower fuel consumption—but also decreases the environmental impact, aligning with global sustainability goals in aviation. As regulatory pressure to cut emissions grows, MEAs are becoming pivotal in modern aerospace engineering.

How Are Technological Advancements Propelling MEA Development?

Technological innovations play a crucial role in the advancement of more electric aircraft. Key developments include improvements in electrical power systems, high-capacity batteries, and more efficient power electronics, which collectively enhance the performance and safety of these aircraft. Moreover, the integration of advanced materials such as high-performance composites reduces the overall weight and improves the energy efficiency of MEAs. As aerospace technology continues to evolve, the capability of MEAs to handle more on-board systems electrically will likely expand, further solidifying their role in the future of aviation.

What Market Trends Are Influencing the Adoption of More Electric Aircraft?

The global push towards sustainability and stricter emission regulations in the aviation industry drives the adoption of more electric aircraft. Airlines are increasingly prioritizing fuel efficiency due to rising fuel costs and environmental levies. This economic pressure, combined with consumer preference for greener travel options, compels aircraft manufacturers to innovate and adopt electric technologies. The growing feasibility of electric propulsion systems, supported by advancements in battery technology and renewable energy integration, also supports this shift, indicating a robust trajectory for the expansion of the MEA market.

What Drives the Growth in the More Electric Aircraft Market?

The growth in the more electric aircraft market is driven by several factors, chiefly the need to enhance aircraft efficiency and meet stringent global emissions targets. Technological breakthroughs that facilitate safer, more efficient, and sustainable flight operations are critical. The economic benefits associated with reduced fuel consumption and lower maintenance costs offer significant incentives for airlines to invest in MEAs. Additionally, regulatory frameworks favoring environmentally friendly technologies further propel this market, as they align with broader environmental policies aimed at reducing aviation`s carbon footprint. These combined factors make a compelling case for the continued relevance and expansion of more electric aircraft in the global aviation landscape.

Select Competitors (Total 44 Featured) -

• Airbus Group
• Bombardier, Inc.
• Honeywell International, Inc.
• Raytheon Company
• Safran Group
• Thales Group
• The Boeing Company
• TTTech Computertechnik AG
• United Technologies Corporation (UTC)
• Zodiac Aerospace SA

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