More Electric Aircraft (MEA) Market Overview, Growth, Opportunities and Development 2023 by Leading Top Player - Rolls Royce, Raytheon Company, Honeywell International, Airbus

Market Highlights:

More Electric Aircraft (MEA) Industry 2018 Global Market research report provide detailed analysis of growth factors of the More Electric Aircraft (MEA) industry as well as it gives analysis of market share, trends, size, Business Methodologies, Financial Overview, Growth Prospects and forecast till 2023. The More Electric Aircraft (MEA)industry report has studied key Strategies in the market i.e Emerging and Manipulating factor which is useful to the Sales revenue and business Generation.

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 MEA.

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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.

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.

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

Regional Analysis:

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:
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).

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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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