More Electric Aircraft Market 2018 expected to grow at a CAGR of over 4% | Industry Players: Rolls Royce, Raytheon Company, United Technologies Corporation, Thales Group, Honeywell International, Airbus, Safran, Boeing, Lockheed Martin, Zodiac Aerospace

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.

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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.

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.

Intended Audience

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

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