More Electric Aircraft Market

More Electric Aircraft Market Size Valued at USD 4256.87 Billion, market Grow at a CAGR Of 13.04% by 2020 -2030.

The technological advances in the field of power electronics, high-density electric motors, flight control systems, fault-tolerant architecture, power generation and conversion systems have ushered the era of the More Electric Aircraft (MEA).

The adoption of MEA is enabling the aircraft industry to unlock significant developments such as aircraft reliability, lesser oil consumption, etc. The utilization of electrical appliances in aircraft has elevated the performance level and lowered the associated operational cost. Other factors that are responsible for the growth of the market are enhanced reliability, reduction in weight of the aircraft, reduced loss in propulsion, etc.

The adoption of MEA is accelerating in the defense sector which is expected to amplify demand in the global MEA market over the next couple of years. The widespread acceptance of the technology in military operations is due to its silent electric engine operation which enables them to fly low without being detected. The initiatives taken by governments for reducing carbon emissions has introduced developments in the performances of More Electric Aircraft Market

The major restraints to the growth of the market which will affect the market expansion adversely over the assessment period are requirement for enormous electric power, thermal management, etc.

Competitive Dashboard:

The key players participating in the growth and expansion of the market have been profiled by MRFR in its report which include Rolls Royce (U.S.), United Technologies Corporation (U.S.), Honeywell International, Inc. (U.S.), Safran SA (France), Lockheed Martin (U.S.), Bombardier Inc. (Canada), Raytheon Company (U.S.), Thales Group (France), Airbus (France), Boeing (U.S.), and, Zodiac Aerospace SA (France). The players strive to introduce developments in the market for gaining a competitive edge over others by undertaking initiatives such as product innovation, acquisitions mergers, joint ventures, agreements, technological advancements, etc.

Regional Analysis Outlook:

By region, the global more electric aircraft market has been segmented into North America, Europe, Asia Pacific, Middle East Africa, and South America. In 2013, America- North America and South America had 8,030 aircraft in service, out of which 6,650 belonged to North America market, and the remaining 1380 were under the South America market. The demand for aircrafts is expected to reach 10,500 within the next two decades boosting the aviation industry in the North America and South America markets. The booming aviation industry is creating demand for more electric aircraft in the regions. The technological advancements and the concentration of major players in North America region will favor the steeper rise in the market compared to South America market.

The strategies undertaken by the prominent players of the market in the region will complement the growth and expansion of the market. The Clean Sky Initiative launched by the European Commission, and the European aeronautics industry is the most extensive European research program which has announced plans for optimizing the performance of MEAs. The initiative has accelerated the demand for MEA in the region and is poised to persistently fuel demand in the region over the assessment period.

The acceleration in air traffic and growing demand from the defense sector will be the driving factors of the market expansion of Asia Pacific region. Middle East Africa is expected to exhibit sluggish growth throughout the projection period.

Market Segmentation Outlook:

By application, the global more electric aircraft market has been segmented into commercial, and, military.

By platform, the global market for more electric aircraft is segmented into fixed wing aircraft, rotary wing aircraft, and, unmanned aerial vehicle (UAV).

Industry Developments:

JetSuite, US scheduled charter operator, will be the launch partner for Zunum Aero’s hybrid-electric regional aircraft. Zunum Aero is an aviation startup backed by Boeing and JetBlue. The delivery is scheduled to start from the beginning of 2022.

More Electric Aircraft Market Report Information by Application (Commercial and Military), By Platform (Fixed Wing Aircraft, Rotary Wing Aircraft and UAV) and By Region - Forecast to 2030 @https://www.marketresearchfuture.com/reports/more-electric-aircraft-market-1245

Related Links:

• Aircraft Aftermarket Parts Market: Information by Parts (MRO Parts, Rotatable Scrap Replacement Parts, Consumable, Expendable), By Application (Commercial and Military) - Forecast till 2030
• Electronic Warfare Market Research Report: Information By Category (Electronic Attack (EA), Electronic Support (ES) and Electronic Protection (EP)), Product (Jammers, Countermeasure System, Decoy, Directed Energy Weapon, 2G Antennas, 3G Antennas, 4G Antennas, 5G Antennas and Others), Platform (Land-based, Airborne and Naval) and Region (North America, Europe, Asia-Pacific, Latin America and the Middle East Africa) - Forecast to 2030
• Commercial Aircraft Cabin Interior Market by Product Type (Seating, Lighting, Windows, Galley, In-Flight Entertainment and Lavatory), by Aircraft Type (Wide Body Aircraft and Narrow Body Aircraft), by Fit (Line Fit and Retro Fit), and by Region – Forecast To 2030

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact:

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Website: https://www.marketresearchfuture.com