Aircraft Electrification Market Size Expected to Reach $21.8 Billion by 2032 | Top Companies and Growth Opportunities

Aircraft Electrification Market by Component (Batteries, Fuel Cells, Electric Actuators, Generators, Motors, Power Electronics, Distribution Devices, and Others), by Application (Power Generation, Power Distribution, Power Conversion, and Energy Storage), by Technology (More Electric, Hybrid Electric, and Fully Electric): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global aircraft electrification industry generated $6.2 billion in 2022, and is anticipated to generate $21.8 billion by 2032, witnessing a CAGR of 13.5% from 2023 to 2032.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A07105

There is a growing demand for aircraft electrification due to the need for more efficient and environmentally friendly aircraft, the demand for lower operating costs, and advancements in electric propulsion and energy storage technologies. Aircraft electrification is the need to reduce the environmental impact of aviation. Electric propulsion systems produce fewer emissions than traditional fossil fuel-based systems, making them a more environmentally friendly option. For instance, in 2020, Airbus revealed three concepts for hydrogen-powered aircraft that could enter service by 2035. These planes would offer a more sustainable and efficient solution for the aviation industry.

Based on components, the distribution devices segment held the highest market share in 2022, accounting for nearly one-fourth of the global aircraft electrification market revenue, and is estimated to maintain its leadership status throughout the forecast period, as it becomes advanced, with features such as remote monitoring and control, power conditioning, and advanced fault detection and isolation.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/aircraft-electrification-market/purchase-options

Based on technology, the more electric segment accounted for the largest share in 2022, accounting for nearly three-fifths of the global aircraft electrification market revenue and is estimated to maintain its leadership status throughout the forecast period, as it involves the gradual replacement of hydraulic and pneumatic power with electric power and aids in the reduction of aircraft mass, fuel consumption, greenhouse gas emissions, assembling costs, and maintenance costs.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Meggitt plc, Collins Aerospace, Honeywell International Inc., Rolls-Royce plc, MagniX, Safran S.A., Ametek.Inc., BAE Systems, Astronics Corporation, Thales Group

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A07105

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, Europe held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global aircraft electrification market revenue and is estimated to maintain its leadership status throughout the forecast period, owing to rise in investment, and R&D activities among the civil, defense, and commercial aviation industries for developing power electronics, high-density electric motors and other technological advancements in the aviation industry.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By component, the Fuel Cells segment is anticipated to exhibit significant growth in the near future.

By application, the Energy Storage segment is anticipated to exhibit significant growth in the near future.

By technology, the Fully Electric segment is anticipated to exhibit significant growth in the near future.

By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐅𝐮𝐞𝐥 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.prnewswire.com/news-releases/aircraft-fuel-systems-market-to-reach-15-7-billion-globally-by-2031-at-6-5-cagr-allied-market-research-301867967.html

𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐁𝐫𝐚𝐤𝐞 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/en/news-release/2021/11/22/2338675/0/en/Aircraft-Brake-System-Market-to-Garner-16-95-Billion-in-2030-Allied-Market-Research.html

𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐇𝐞𝐚𝐥𝐭𝐡 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐒𝐲𝐬𝐭𝐞𝐦 𝐌𝐚𝐫𝐤𝐞𝐭 - https://www.globenewswire.com/en/news-release/2022/06/22/2466995/0/en/Aircraft-Health-Monitoring-System-Market-to-Garner-7-27-Billion-by-2030-Allied-Market-Research.html

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