Aircraft Electrification Market is projected to expand at a steady CAGR over the forecast by 2031 | Thales Group, Honeywell International Inc, GE Aviation, Safran, Raytheon Technologies Corporation, Meggitt

Global Aircraft Electrification Market report from Global Insight Services is the single authoritative source of intelligence on Aircraft Electrification Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Aircraft electrification is the process of powering an aircraft using electricity instead of traditional fossil fuels. This can be done by either using electric motors to power the aircraft directly, or by using a hybrid system that combines electric motors with a traditional internal combustion engine.

Key Trends:

There are a number of different approaches to aircraft electrification, including hybrid-electric, all-electric, and fuel cell-powered systems. Hybrid-electric systems are the most common type of electrification technology being developed for aircraft. These systems use both electric and combustion engines to power the aircraft.

Key Drivers:

The key drivers of aircraft electrification market are the rising fuel prices, stringent emission regulations, and the need for aircraft manufacturers to reduce their dependence on fossil fuels. The rising fuel prices are the major driver for the growth of aircraft electrification market. The price of jet fuel has increased from $0.61 per gallon in 2001 to $2.11 per gallon in 2019.

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Market Segments:

The aircraft electrification market is segmented by component, technology, application, and region. By component, the market is classified into batteries, generators, motors, and others. On the basis of technology, it is bifurcated into more electric, hybrid electric, and fully electric. Based on application, it is divided into power generation, power distribution, power conversion, and energy storage. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Key Players:

The global aircraft electrification market includes players such as Thales Group, Honeywell International Inc, GE Aviation, Safran, Raytheon Technologies Corporation, Meggitt PLC, BAE Systems, Hartzell Engine Technologies LLC, PBS AEROSPACE, Eagle-Picher Technologies, and others.

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