Aircraft Electrification - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Aircraft Electrification Market is accounted for $2.15 billion in 2018 and is expected to reach $6.81 billion by 2027 growing at a CAGR of 13.7% during the forecast period. While the factors like, reduced emission and aircraft noise and low operational costs are propelling the market growth. However, factor such as limited range of electric aircraft is hampering the market growth.
Aircraft electrification technology is installed to allow the development of conventional aircraft operating on conservative fossil fuels into electrically operated aircraft. For the development of commercially viable electric aircraft there has been a quick increase in research activities. The introduction of new electric aircraft in the market are the various advantages of aircraft electrification over other traditional technologies such as noise reduction, reduced carbon emissions, and simpler design for manufacture and maintenance.
Based on the platform, the business & general aviation segment is likely to have a huge demand due to growing aircraft electrification projects for domestic air transport. The increasing focus of leading bodies on the decrease of emissions in household air transport is pouring the market for the business & general segment.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to upgrading different capabilities in the field of aircraft electrification, which offers important potential for the manufacturers of electric components. A rise in command for low-cost carriers is one of the factors pouring growth of the market in the Asia Pacific.
Some of the key players profiled in the Aircraft Electrification Market include Ametek, Astronics Corporation, Avionic Instruments, LLC, BAE Systems, Carlisle Interconnect Technologies, Crane Aerospace & Electronics, Eaglepicher Technologies, LLC, Esterline Technologies (Transdigm Group), GE Aviation, Hartzell Engine Technologies, Honeywell International Inc., Meggitt PLC., Nabtesco Corporation, PBS Aerospace, Pioneer Magnetics, Radiant Power Corporation, Raytheon Company, Safran, Thales Group and United Technologies Corporation.
• Aircraft Systems
• Propulsion Systems
• Distribution Devices
• Electric Actuators
• Electric Pumps
• Fuel Cells
• Power Electronics
• Solar Cells
• Commercial Aviation
• Business & General Aviation
• Military Aviation
• More Electric
• Fully Electric
• Hybrid Electric
• Energy Storage
• Power Conversion
• Power Distribution
• Power Generation
End Users Covered:
• Business Use
• Military Use
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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o Comprehensive profiling of additional market players (up to 3)
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o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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