This report provides a comprehensive analysis of the Global More Electric Aircraft Market, including historical market sizes from 2019 to 2022 and forecasts for 2024 to 2031. The market is estimated to be valued at USD 17,000 Million in 2023 and is projected to grow to approximately USD 40,330 Million by 2031, reflecting a compound annual growth rate (CAGR) of 15.40% during the forecast period. This growth underscores the increasing demand for advanced data management solutions and highlights the importance of technological innovations in the sector.
The Global More Electric Aircraft (MEA) Market is rapidly evolving as the aviation industry shifts towards more sustainable and efficient technologies. MEA refers to aircraft that integrate electric and hybrid-electric systems to replace or reduce traditional hydraulic, pneumatic, and mechanical systems, leading to lower fuel consumption and reduced emissions. The increasing emphasis on environmental sustainability, coupled with rising fuel costs and regulatory pressures for greener solutions, is driving the demand for more electric aircraft. Advancements in battery technology, electric propulsion systems, and energy storage solutions are playing a key role in making electric and hybrid-electric aircraft more viable for commercial and military use. The market is also fueled by innovations in electric aircraft components such as electric motors, power electronics, and high-capacity batteries. These technologies promise not only to reduce carbon footprints but also to lower operational costs, enhance performance, and improve reliability. As governments and organizations push for decarbonization, the market for MEAs is expected to see substantial growth, with significant investments in research, development, and infrastructure. Aircraft manufacturers and suppliers are collaborating with technology providers to bring hybrid-electric and fully electric aircraft into commercial operation, targeting regional air travel and urban air mobility applications. The growing trend towards autonomous flight also complements the development of electric aviation, as electric systems are often easier to integrate with automated technologies.
For the geography segment, regional supply, demand, major players, and price are presented from 2019 to 2031. This report covers the following regions:
North America
Asia-Pacific
Europe
Middle East and Africa
South America
Segments-
By Type:
Fully Electric Aircraft
Hybrid-Electric Aircraft
Others
The By Type segment in the Global More Electric Aircraft (MEA) Market focuses on the classification of electric aircraft into fully electric and hybrid-electric aircraft. Fully Electric Aircraft are powered entirely by electric propulsion systems, using batteries or hydrogen fuel cells, and are most suited for short-range flights. These aircraft aim to replace traditional jet engines, offering zero emissions during flight. On the other hand, Hybrid-Electric Aircraft combine conventional fuel-based engines with electric propulsion, allowing for longer ranges while benefiting from the fuel efficiency and reduced emissions of electric systems. Hybrid systems are particularly attractive for medium to long-range flights, as they reduce dependency on fossil fuels while still providing operational flexibility. The hybrid-electric systems allow for more gradual integration into the existing infrastructure of airlines. As battery technology improves, fully electric aircraft are expected to gradually expand their market share, particularly in short-haul flights and regional travel, where operational costs and environmental concerns are major driving factors.
By Material-
Lightweight Composite Materials
Battery Materials
Electrical Conductive Materials
Advanced Insulation Materials
Others
The By Material segment covers the use of specialized materials in the construction of more electric aircraft to enhance performance, reduce weight, and increase efficiency. Lightweight Composite Materials such as carbon fiber are increasingly used in aircraft structures to replace traditional metals like aluminum, which reduces overall weight and fuel consumption. Advanced Insulation Materials are essential for electric systems to ensure safety and energy efficiency, particularly in batteries and electric motors. In the electrical systems, Conductive Materials like copper and aluminum alloys are crucial for power transmission, as they support the high currents required for electric propulsion. Additionally, Battery Materials, including lithium, cobalt, and solid-state batteries, are critical in ensuring efficient energy storage and longer flight ranges for electric aircraft. As material science advances, lighter and more durable materials will further optimize the design and performance of electric aircraft, supporting the broader adoption of MEAs in the aviation industry.
By End-User-
Commercial Aviation
Military Aviation
Urban Air Mobility
Others
The By End User segment focuses on the various customers and industries adopting more electric aircraft, primarily split into Commercial Aviation, Military Aviation, and Urban Air Mobility. Commercial Aviation is expected to be the largest end-user segment, with airlines seeking to reduce operational costs and carbon emissions. Airlines are increasingly interested in hybrid and fully electric aircraft for regional flights, as these can offer savings on fuel and maintenance. Military Aviation is also adopting electric and hybrid-electric systems, particularly for unmanned aerial vehicles (UAVs) and lighter aircraft used for reconnaissance and short-range missions. Electric propulsion systems offer lower noise and thermal signatures, making them suitable for stealth operations. Urban Air Mobility (UAM) is an emerging end user, focusing on electric vertical takeoff and landing (eVTOL) aircraft for short urban commutes. UAM solutions are expected to reduce congestion and offer environmentally friendly transportation alternatives in cities. Each of these end users is driving innovation in the MEA market, as the demand for sustainable, efficient, and cost-effective air travel solutions grows.
Key Players
Airbus
Boeing
Rolls-Royce
General Electric (GE) Aviation
Honeywell International
MagniX
Pipistrel
Vertical Aerospace
Eviation Aircraft
Zunum Aero
Joby Aviation
Lilium
AeroVironment
Safran
Siemens
For the competitor segment, the report includes global key players and some small players. The information for each competitor includes:
Company Profile
Main Business Information
Financial Analysis
Market Share
Please ask for sample pages for the full company list
Base Year: 2023
Historical Data: from 2019 to 2022
Forecast Data: from 2024 to 2031
Any special requirements about this report, please let us know and we can provide a custom report.
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