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More Electric Aircraft Global Market Report 2023 - Business Growth, Top Companies, Industry Analysis And Forecast 2032
More Electric Aircraft Market
The Business Research Company's More Electric Aircraft Global Market Report 2023 identifies increase air passenger traffic as the major driver for the More Electric Aircraft market's growth in the forecast period. Air passenger traffic refers to the number of passengers in an aircraft. More electric aircraft are used to carry commercial and business passengers with advanced features such as computer-controlled, electrically driven propellers.
The global more electric market size is expected to grow from $2.50 billion in 2022 to $2.86 billion in 2023 at a compound annual growth rate (CAGR) of 14.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The more-electric market size is expected to grow to $4.80 billion in 2027 at a CAGR of 13.8%.
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Major competitors in the More Electric Aircraft market are AMETEK Inc., BAE Systems Plc, Bombardier Inc., Elbit Systems Ltd., GE Aviation, Honeywell International Inc., Raytheon Technologies Corporation
A key trend in the More Electric Aircraft market includes Innovations in electric aircraft. Major market players are concentrating their efforts on creating innovative technologies, such as the Spirit of Innovation Plane for more electric aircraft. For instance, in November 2021, Rolls-Royce, a UK-based company manufacturer of aircraft engines, marine propulsion systems, and power-generation systems launched its all-electric 'Spirit of Innovation' aircraft, the world's fastest all-electric aircraft, having established two new, independently verified world records.
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The More Electric Aircraft market is segmented -
• By Type: Fixed Wing, Rotary Wing, or Hybrid Wing
• By Aircraft System: Propulsion System, Airframe System
• By Application: Power Generation, Power Distribution, Power Conversion, and Energy Storage
• By End User: Civil, Military
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Europe was the largest region in the More Electric Aircraft market.
The Business Research Company's "Global More Electric Aircraft Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The More Electric Aircraft Market Include:
1. Executive Summary
2. More Electric Aircraft Market Characteristics
3. More Electric Aircraft Market Trends And Strategies
4. More Electric Aircraft Market - Macro Economic Scenario
5. More Electric Aircraft Market Size And Growth
.......................
26. Africa More Electric Aircraft Market
27. More Electric Aircraft Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The More Electric Aircraft Market
29. More Electric Aircraft Market Future Outlook and Potential Analysis
30. Appendix
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