Electric Aircraft Market Size, Growth, Analysis, Share, Forecast 2022

According to Precision Business Insights (PBI), the global electric aircraft market size was valued at USD 13,552.0 billion in 2021 and is poised to grow at a significant CAGR of 7.62% during the forecast period 2022 to 2028. Electric planes have the potential to make flying better by consuming less fuel and producing less carbon dioxide. Due to severe pollution regulations and the need for sustainable aviation, there is a considerable demand for electric aircraft. The reduction of noise is another advantage of using electric aircraft. Electric aircraft employ jet engines, which are quieter than typical piston engines. This is an important factor that has prompted more commercial airline operators worldwide to employ electric aircraft.

View the detailed report description here - https://precisionbusinessinsights.com/market-reports/electric-aircraft-market/

Electric Aircraft Market Growth Factors:
The market for electric aircraft is expanding rapidly and will continue to do so over the next years. Electric motors, which are used to power electric aircraft, can be powered by a variety of sources, including batteries, solar cells, fuel cells, power beaming, and ground power lines. Also, electric aeroplanes hold great promise for reducing problems with pollution of the air, noise, and toxic emissions. Electric motors also offer reduced operating and maintenance costs. These potential advantages of electric aircraft increase their adoption over those powered by fuel. Also, electric aircraft use cleaner, battery-powered electricity instead of petrochemicals. The advantages of electric aircraft over conventional aircraft, an increase in environmental concerns owing to emissions, and the cheap ownership costs of electric aircraft have all contributed to the market's expansion globally. The need to develop high-density battery solutions for electric aircraft, however, restrains the market's expansion. On the other hand, it is projected that a number of opportunities will arise in the near future as a result of the electrification of large commercial planes, stricter pollution laws, and more technology improvements.

The global electric aircraft market segmentation
1) By Aircraft Type: Ultralight Aircraft, Light Jet
2) By Component: Battery, Electric Motor
3) By Technology: Hybrid, All Electric
4) By Power Density: Less than 500 KM, More than 500 KM

Electric Aircraft Market Regional Analysis:
Due to rising environmental concerns and expanding government initiatives, North America will account for the greatest revenue share in 2023, which will fuel the market for electric aircraft. Also, many individuals and business owners in the North American region travel extensively by business aircraft. The market for electric aircraft is expanding in North America as a result of this aspect.

During the predicted period, Europe is anticipated to grow the fastest. In Europe, the UK controls the market for electric aircraft. Major market players are what are driving the growth of the electric aircraft industry in Europe. Also, the region's residents have the means to fly on corporate jets, which is fueling Europe's demand for electric aircraft. Also, supportive government policies are fostering market expansion.

Request sample report at- https://precisionbusinessinsights.com/request-sample/?product_id=53469

Key players in the Electric Aircraft Market report are Alisport SRL, Aurora (A Boeing Company), Bye Aerospace, Digisky, Electravia, Eviation Aircraft, Hamilton Aero, Lilium, PC Aero

Contact:
Mr. Satya
Precision Business Insights | Toll Free: +1 866 598 1553
Email: sales@precisionbusinessinsights.com
Kemp House, 152 - 160 City Road, London EC1V 2NX
Website: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

This release was published on openPR.