Electric Aircraft Market to Grow Stable as Governments and Regulatory Bodies Worldwide are Implementing Stricter Emission Regulations for the Aviation Industry

Market Scope & Overview Report 2023

Electric aircraft, also known as electric-powered aircraft or electric planes, are aircraft that utilize electric motors for propulsion instead of traditional internal combustion engines. These cutting-edge aircraft are at the forefront of the evolving aviation industry, offering a cleaner and more sustainable alternative to conventional airplanes.

Based on information from SNS Insider, the electric aircraft market was valued at USD 9.44 billion in 2022. It is projected to reach USD 29.10 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2023 to 2030.

Market Analysis

The electric aircraft market is being driven by several key factors that are shaping the future of aviation. Growing concerns about climate change and the need to reduce greenhouse gas emissions have prompted a global shift towards sustainable transportation. Electric aircraft offer a significant reduction in carbon dioxide (CO2) emissions compared to traditional jet engines. As a result, governments, regulatory bodies, and airlines are increasingly prioritizing the adoption of electric aircraft to mitigate the environmental impact of aviation. Advances in battery technology and electric propulsion systems have made electric aircraft more feasible and efficient. The development of high-energy-density batteries, improved electric motors, and lightweight materials has extended the range and performance capabilities of electric aircraft.

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The Major Key Company Profiles included in Electric Aircraft market study are:

Airbus
Yuneec Holding Limited
Pipistrel Group
Bye Aerospace
Digisky S.R.L
Leonardo S.p.A.
Groupe Gorgé
EHang Holdings Limited
Faradair Aerospace Limited
Boeing

Impact of Recession

Recessions undoubtedly present challenges for the electric aircraft market, impacting consumer demand, funding availability, infrastructure development, and government support. However, the long-term prospects for electric aviation remain promising. As environmental concerns and sustainability become increasingly significant, the demand for greener transportation solutions will persist. The electric aircraft industry is likely to rebound and thrive as economies recover, supported by technological advancements, policy initiatives, and a renewed focus on sustainable aviation.

Segmentation Analysis

The electric aircraft market is witnessing a paradigm shift, with regional transport aircraft and batteries emerging as dominant segments. Electric regional transport aircraft offer environmental benefits, address market demand, and leverage technological advancements. Meanwhile, batteries, with their improving energy density, advancements in lithium-ion technology, and expanding infrastructure, are poised to power the future of aviation. As sustainability takes center stage in the aviation industry, these segments will continue to shape and revolutionize the way we fly.

The Electric Aircraft Market Segments and Sub-Segments are Listed Below:

By System:
Batteries
Electric Motors
Aerostructures
Avionics
Software
Others

By Platform:
Regional Transport Aircraft
Business Jets
Light & Ultralight Aircraft

By Application:
Civil
Military

By Technology:
CTOL
STOL
VTOL

By Type:
Fixed Wing
Rotary Wing
Hybrid Wing

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Regional Status & Analysis

With its technological prowess, supportive regulatory environment, collaborative ecosystem, strong market potential, and access to investment, North America is poised to dominate the electric aircraft market. The region's commitment to sustainability and reducing carbon emissions aligns perfectly with the vision of electric aviation. As the industry continues to evolve, North American companies are well-positioned to lead the way in developing, manufacturing, and operating electric aircraft, ushering in a new era of sustainable aviation worldwide.

Conclusion

The future prospects of the market are bright. The combination of increasing demand for sustainable transportation, advancements in battery technology, growing investment, and evolving regulations pave the way for the widespread adoption of electric aircraft. As the industry continues to innovate and overcome existing challenges, electric aircraft are poised to become an integral part of the aviation sector, revolutionizing air travel and contributing to a greener future.

Frequently Asked Questions/ Key Reasons to Purchase this Report

>What is the projected outlook for electric aircraft market growth?
Ans- The global market is projected to reach a value of USD 29.10 billion by the year 2030.

>What are the major factors influencing the electric aircraft market?
Ans- Governments and aviation authorities are working to establish certification standards and safety regulations specific to electric aviation. This regulatory support will instill confidence in both manufacturers and operators, fostering the adoption of electric aircraft on a wider scale.

>Who are the leading players in the electric aircraft market?
Ans- Airbus, Pipistrel Group, Faradair Aerospace Limited, Yuneec Holding Limited, Bye Aerospace, Groupe Gorgé, Digisky S.R.L, Leonardo S.p.A., EHang Holdings Limited, and Boeing.

Table of Contents - Major Key Points

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 forces model
7. PEST Analysis
8. Electric Aircraft Market, By System
9. Electric Aircraft Market, By Platform
10. Electric Aircraft Market, By Application
11. Electric Aircraft Market, By Technology
12. Electric Aircraft Market, By Type
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion

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