More Electric Aircraft Market 2018 by Global Key Leaders: Rolls Royce, Raytheon Company, United Technologies, Thales Group, Honeywell International, Airbus

Market Highlights:

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.

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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.

The global More Electric Aircraft Market is expected to grow at a CAGR of over 4%, during the forecast period of 2017-2023.

The Environmental Protection Agency (EPA) had declared that jet engine exhaust risks public health to a larger extent by contributing to environmental change. The agency is looking forward to developing regulations, which are meant to minimize carbon emissions from commercial aircraft. It is observed that large commercial jets account for 12% of all emissions from the global transportation domain. Aircraft emissions are generally expected to rise by 50% by 2050, with the rise in the demand for air travel.
The Clean Sky action launched in public-private partnership between the European Commission and the European aeronautics industry has declared plans to optimize the MEA performance to reach 20-30% of lesser fuel consumption and accordingly, CO2 emissions. Airbus and Boeing are two aircraft dealers using MEA, and Boeing’s B787 is the only aircraft in the MEA segment. It has successfully balanced fuel consumption and weight to deliver power equivalent to that of a fully ATF powered aircraft engine, although the range of flight is a bit less as compared to other aircraft in the same engine power segment. The cost of operation has gone down by few dollars per person per mile.

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

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