Global More Electric Aircraft Market Share, Size, Trends, Industry Analysis Report, By Type, By Material, By End-User, By Region, Segment Forecast, 2024 - 2031
- Published Date : 2024-12-04
- Pages : 100
- Report Id : 40558
- Categories : Aerospace & Defense
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
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TABLE OF CONTENTS
Market Taxonomy
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis and Recommendations
1.3. RA Analysis and Recommendations
2. Market Introduction
2.1. Market Definition
3. Market Background
3.1. Market Overview
3.1.1. Global Global More Electric Aircraft Market Outlook
3.1.2. Global Global More Electric Aircraft Market Overview
3.2. Macro-Economic Overview
3.2.1. GDP Growth
3.2.2. Retail Industry Growth
3.3. Pricing Analysis
3.4. Challenges related to the adoption of Global Global More Electric Aircraft Market
3.5. Regulations of Global Global More Electric Aircraft Market
3.6. Forecast Factors: Relevance and Impact
3.7. Market Dynamics
3.7.1. Drivers
3.7.2. Restraints
3.7.3. Opportunity
3.7.4. Trends
3.7.5. SWOT Analysis
4. Market Forecast
4.1. Market Value Projections
4.2. Market Size Projections
4.3. Y-o-Y Projections
4.4. Absolute Opportunity Analysis
5. Global Global More Electric Aircraft Market Analysis By Type
5.1. Introduction
5.1.1. Market Value Share Analysis By Type
5.1.2. Y-o-Y Growth Analysis By Type
5.2. Historical Market Size (USD Mn) Analysis 2018-2022 By Type
5.3. Market Attractiveness Analysis By Type
6. Global Global More Electric Aircraft Market Analysis By Material
6.1. Introduction
6.1.1. Market Value Share Analysis By Material
6.1.2. Y-o-Y Growth Analysis By Material
6.2. Historical Market Size (USD Mn) Analysis 2018-2022 By Material
6.3. Market Attractiveness Analysis By Material
7. Market Structure Analysis
7.1. Market Analysis by Tier of Companies
7.2. Market Concentration
8. Competition Analysis
8.1. Competition Dashboard
8.2. Company Profiles (15 Companies)
8.2.1 Airbus
8.2.1.1. Overview
8.2.1.2. Technology Portfolio
8.2.1.3. Financial Overview
8.2.2. Boeing
8.2.2.1. Overview
8.2.2.2. Technology Portfolio
8.2.2.3. Financial Overview
8.2.3. Rolls-Royce
8.2.3.1. Overview
8.2.3.2. Technology Portfolio
8.2.3.3. Financial Overview
8.2.4. General Electric (GE) Aviation
8.2.4.1. Overview
8.2.4.2. Technology Portfolio
8.2.4.3. Financial Overview
8.2.5. Honeywell International
8.2.5.1. Overview
8.2.5.2. Technology Portfolio
8.2.5.3. Financial Overview
8.2.6. MagniX
8.2.6.1. Overview
8.2.6.2. Technology Portfolio
8.2.6.3. Financial Overview
8.2.7. Pipistrel
8.2.7.1. Overview
8.2.7.2. Technology Portfolio
8.2.7.3. Financial Overview
8.2.8. Vertical Aerospace
8.2.8.1. Overview
8.2.8.2. Technology Portfolio
8.2.8.3. Financial Overview
8.2.9. Eviation Aircraft
8.2.9.1. Overview
8.2.8.2. Technology Portfolio
8.2.9.3. Financial Overview
8.2.10. Zunum Aero
8.2.10.1. Overview
8.2.10.2. Technology Portfolio
8.2.10.3. Financial Overview
8.2.11. Joby Aviation
8.2.11.1. Overview
8.2.11.2. Technology Portfolio
8.2.11.3. Financial Overview
8.2.12. Lilium
8.2.12.1. Overview
8.2.12.2. Technology Portfolio
8.2.12.3. Financial Overview
8.2.13. AeroVironment
8.2.13.1. Overview
8.2.13.2. Technology Portfolio
8.2.13.3. Financial Overview
8.2.14. Safran
8.2.14.1. Overview
8.2.14.2. Technology Portfolio
8.2.14.3. Financial Overview
8.2.15.Siemens
8.2.15.1. Overview
8.2.15.2. Technology Portfolio
8.2.15.3. Financial Overview
9. Global Global More Electric Aircraft Market Analysis By Region
9.1. Introduction
9.1.1. Market Value Share Analysis By Region
9.1.2. Y-o-Y Growth Analysis By Region
9.2. Historical Market Size (USD Mn) Analysis 2018-2022 By Region
9.2.1. North America
9.2.2. Middle East and Africa
9.2.3. South America
9.2.4. Asia-Pacific
9.2.5. Others
9.3. Current Market Size (USD Mn) Forecast 2023-2030 By Region
9.3.1. North America
9.3.2. Middle East and Africa
9.3.3. South America
9.3.4. Asia-Pacific
9.3.5. Others
9.4. Market Attractiveness Analysis By Region
10. North America Global Global More Electric Aircraft Market Analysis
10.1. Introduction
10.2. Historical Market Size (USD Mn) Analysis 2018-2022 By Country
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.2.4. Rest of North America
10.3. Current Market Size (USD Mn) Forecast 2023-2030 By Country
10.3.1. U.S.
10.3.2. Canada
10.3.3. Mexico
10.3.4. Rest of North America
10.4. Historical Market Size (USD Mn) Analysis 2018-2022 By Type
10.5. Current Market Size (USD Mn) Forecast 2023-2030 By Type
10.6. Historical Market Size (USD Mn) Analysis 2018-2022 By Material
10.7. Current Market Size (USD Mn) Forecast 2023-2030 By Material
11. South America Global Global More Electric Aircraft Market Analysis
11.1. Introduction
11.2. Regional Pricing Analysis
11.3. Historical Market Size (USD Mn) Analysis 2018-2022 By Country
11.3.1. Brazil
11.3.2. Argentina
11.3.3. Rest of South America
11.4. Current Market Size (USD Mn) Forecast 2023-2030 By Country
11.4.1. Brazil
11.4.2. Argentina
11.4.3. Rest of South America
11.5. Historical Market Size (USD Mn) Analysis 2018-2022 By Type
11.6. Current Market Size (USD Mn) Forecast 2023-2030 By Type
11.7. Historical Market Size (USD Mn) Analysis 2018-2022 By Material
11.8. Current Market Size (USD Mn) Forecast 2023-2030 By Material
12. Europe Global Global More Electric Aircraft Market Analysis
12.1. Introduction
12.2. Regional Pricing Analysis
12.3. Historical Market Size (USD Mn) Analysis 2018-2022 By Country
12.3.1. Germany
12.3.2. Italy
12.3.3. France
12.3.4. Spain
12.3.5. U.K.
12.3.6. Rest of Europe
12.4. Current Market Size (USD Mn) Forecast 2023-2030 By Country
12.4.1. Germany
12.4.2. Italy
12.4.3. France
12.4.4. Spain
12.4.5. U.K.
12.4.6. Rest of Europe
12.5. Historical Market Size (USD Mn) Analysis 2018-2022 By Type
12.6. Current Market Size (USD Mn) Forecast 2023-2030 By Type
12.7. Historical Market Size (USD Mn) Analysis 2018-2022 By Material
12.8. Current Market Size (USD Mn) Forecast 2023-2030 By Material
13. Middle East and Africa Global Global More Electric Aircraft Market Analysis
13.1. Introduction
13.2. Regional Pricing Analysis
13.3. Historical Market Size (USD Mn) Analysis 2018-2022 By Country
13.3.1. Saudi Arabia
13.3.2. U.A.E.
13.3.3. South Africa
13.3.4. Turkey
13.3.5. Rest of Middle East and Africa
13.4. Current Market Size (USD Mn) Forecast 2023-2030 By Country
13.4.1. Saudi Arabia
13.4.2. U.A.E.
13.4.3. South Africa
13.4.4. Turkey
13.4.5. Rest of Middle East and Africa
14. Asia-Pacific Global Global More Electric Aircraft Market Analysis
14.1. Introduction
14.2. Regional Pricing Analysis
14.3. Historical Market Size (USD Mn) Analysis 2018-2022 By Country
14.3.1. China
14.3.2. India
14.3.3. Japan
14.3.4. South Korea
14.3.5. Singapore
14.3.6. Australia and New Zealand
14.3.7. Rest of Asia-Pacific
14.4. Current Market Size (USD Mn) Forecast 2023-2030 By Country
14.4.1. China
14.4.2. India
14.4.3. Japan
14.4.4. South Korea
14.4.5. Singapore
14.4.6. Australia and New Zealand
14.4.7. Rest of Asia-Pacific
i. Research Methodology
ii. Assumptions & Acronyms
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