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Aircraft Electrification Market is Expected to Grow $16,677.93 Million By 2032 | Key Players: Safran S.A., Thales Group, Raytheon Technologies, General Electric Company, BAE Systems
Aircraft Electrification Market
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The global aircraft electrification market reached a value of nearly $4,761.51 million in 2022, having grown at a compound annual growth rate (CAGR) of 8.2% since 2017. The market is expected to grow from $4,761.51 million in 2022 to $9,688.69 million in 2027 at a rate of 15.3%. The market is then expected to grow at a CAGR of 11.5% from 2027 and reach $16,677.93 million in 2032.
Aircraft electrification refers to the method of using electric motors to power the propeller engines of airplanes to reduce air pollution. Electric aircraft play an essential role in reducing the environmental effects of aviation by providing zero emissions flights.
The aircraft electrification market consists of sales of aircraft electrification products by entities (organizations, sole traders and partnerships) that power an aircraft using electricity. In aircraft electrification, the engine employs electric power for all non-propulsive systems and focuses on altering current operations or systems to increase efficiency or to lessen the amount of work the engine must perform through altering the aircraft or operational systems.
Companies operating in aircraft electrification are focusing on hybrid electric technology for improved aircraft service in the market. Hybrid electric propulsion involves systems that combine electric motors, battery storage and other forms of aircraft energy generation to decouple power generation from thrust, so increasing efficiency and reducing weight.
Aircraft Electrification Market Segmentation:
By Component -
The aircraft electrification market is segmented by component into
a) Batteries
b) Fuel Cells
c) Solar Cells
d) Electric Actuators
e) Electric Pumps
f) Generators
g) Motors
h) Power Electronics
i) Distribution Devices
By Technology -
The aircraft electrification market is segmented by technology into
a) More Electric
b) Hybrid Electric
c) Fully Electric
By Platform -
The aircraft electrification market is segmented by platform into
a) Fixed Wing
b) Rotary Wing
c) Unmanned Aerial Vehicles (UAVS)
d) Advanced Air Mobility
Some of the key players involved in the Aircraft Electrification market are Safran S.A., Thales Group, Raytheon Technologies, General Electric Company, BAE Systems.
The regions covered in the global Aircraft Electrification market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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A Few Points From The Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
.....
19. Company Profiles
20. Key Mergers And Acquisitions
21. Opportunities And Strategies
22. Aircraft Electrification Market, Conclusions And Recommendations
23. Appendix
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