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More Electric Aircraft (MEA) Global Market Takes off To Glory By 2021At ~4% of CAGR

More Electric Aircraft (MEA) Global Market Takes off To Glory

More Electric Aircraft Market - Overview:

More Electric Aircraft (MEA) are future-generation aircraft that are equipped with more electrical systems to minimize non-propulsive power systems, such as mechanical, hydraulic, and pneumatic systems. This has resulted in a reduction in the weight of the aircraft, usage of less fuel, and reduction in emissions, leading to a low cost of ownership and increased reliability.
The replacement of mechanical and pneumatic systems with electrical systems results in a significant reduction in the cost of operating the aircraft. The absence of heavy machines that require constant repairs and maintenance to provide better efficiency, makes electrical systems a better option for both manufacturers and aircraft carriers.

The global MEA market has drastically grown because of the increase in global air traffic and demand for new aircraft.

The biggest challenge in the global MEA market is the need for huge amounts of electric power for systems, and with the current technologies in power electronics, it is difficult to achieve full efficiency. Moreover, there are technical issues with electrical generators in aircraft that need to be rectified. Another challenge in the market is the thermal management system, as electric systems generate a huge amount of heat, which needs to be utilized effectively or rejected into heat sink for the safe operation of the aircraft.

Thermal management is a major issue in MEA. The amount of heat generated by electrically powered systems is enormous and needs to be efficiently managed. Excessive heat in systems will lead to system failures and with the absence of advanced technologies to manage the heat generated, thermal management has become a challenge for MEA.

The global more electric aircraft market is expected to grow at a CAGR of over 4%, during the forecast period of 2017-2023.

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Key Players

Raytheon, Safran, Airbus, Honeywell International, The Boeing Company, Thales Group, United Technologies Corporation, Bombardier, TT Tech Computer technik, and Zodiac Aerospace SA are some of the leaders driving the Global More Electric Aircraft Market. Profiling those in its analysis MRFR finds out their strategies placing them at the forefront of completion.

Regional Analysis

In case of regional analysis of America, in 2013, there were 8,030 aircraft in service in America; 6,650 aircraft in North America; and the remaining 1,380 aircraft in Latin America. The region is expected to witness demand for 10,500 new aircraft over the next two decades.
The growing demand for MEA has resulted in the emergence of advanced technologies in the field of aerospace, such as replacement of auxiliary power units with more efficient fuel cells to provide electricity on board. Another trend is the development of more electric engines pioneered by Rolls-Royce that will better support MEA. The increased usage of electrical components in aircraft is another trend in the market.

Aircraft manufacturers, such as Boeing and Airbus, are investing in new electrical technologies to reduce costs and increase efficiency. This evolving trend in the presence of electrical systems in aircraft has led to the development of an all-electric aircraft.

The global MEA market is highly competitive and vendors participate in variables of cost, reliability of product, quality, and customer service. To sustain and succeed in such a competitive environment, it is very important for vendors to provide cost-effective and high-quality MEA with the latest technology and materials.

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Intended Audience
• Distributor & Supplier companies
• End-Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

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.

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