openPR Logo
Press release

Navigating Growth in the More Electric Aircraft Market - A Comprehensive Analysis and Forecast

02-19-2024 11:50 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: MarketsandMarkets

Navigating Growth in the More Electric Aircraft Market -

The Global More Electric Aircraft Market is set to witness remarkable expansion, with a projected growth from USD 4.1 billion in 2022 to USD 7.3 billion by 2027, reflecting a robust Compound Annual Growth Rate (CAGR) of 12.6% during the forecast period. The report, titled "More Electric Aircraft Market by Application (Power Generation, Power Distribution, Power Conversion, Energy Storage), Aircraft Type (Fixed Wing, Rotary Wing), Aircraft System, Component, End User and Region - Global Forecast to 2027," outlines key factors driving this growth.

Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138024896

Key Growth Drivers:

Several factors contribute to the anticipated growth of the More Electric Aircraft market. Improved aircraft performance, coupled with lower operational and maintenance costs, is expected to be a major catalyst. Additionally, the focus on reducing emissions and noise pollution aligns with the global push towards sustainable aviation practices. These factors collectively propel the demand for more electric aircraft, making them a viable and attractive option in the aviation industry.

Challenges and Opportunities:

While the market exhibits substantial growth potential, challenges such as a rise in investments and longer clearance periods may impede the pace of expansion. However, advancements in high-density battery solutions, the exploration of alternative power sources for electric power production, and the expansion of sophisticated power electronic components present opportunities for further growth in the More Electric Aircraft industry.

Segmentation and Market Dynamics:

The report provides a comprehensive segmentation of the More Electric Aircraft market, categorizing it based on application, aircraft type, aircraft system, component, end user, and region. Fixed-wing and rotary-wing aircraft constitute significant segments, with the development of reliable auxiliary power supply systems driving the demand for fixed-wing aircraft. Technical advancements in power electronics and flight control system operations are anticipated to fuel the expansion of the rotary-wing aircraft segment.

The market is further divided into civil and military sectors based on end-users. The commercial sector's increasing demand for more electric civil airplanes for passenger and freight transportation, coupled with the adoption of advanced electrical systems in military tactical airlifters, contributes to market expansion.

Regional Insights:

The regional analysis covers North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The European market leads, driven by the presence of key players and Original Equipment Manufacturers (OEMs) such as Airbus, Thales Group, and Safran S.A. The Asia-Pacific market is expected to witness significant growth during the forecast period, with China, Japan, and India playing pivotal roles. India, in particular, emerges as the fastest-growing market for more electric civil aircraft, driven by robust expansion in the commercial aviation sector.

Key Market Players:

The report highlights key players shaping the More Electric Aircraft market, including AMETEK, Safran, Astronics Corporation, Amphenol Corporation, Honeywell International, Inc, Meggitt, Rolls Royce Plc, Raytheon Technologies Corporation, Thales Group, and General Electric. These industry leaders contribute to the innovation and advancement of technology in the more electric aircraft sector.

Inquiry before buying @
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=138024896

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Navigating Growth in the More Electric Aircraft Market - A Comprehensive Analysis and Forecast here

News-ID: 3388671 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Aircraft

Private Plane Market Analysis By Top Keyplayers - American Champion Aircraft, Bu …
The "Private Plane Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031. The market was valued at USD xx.x billion In 2023. Growing Demand and Growth Potential in the Global Private Plane Market, 2024-2031 Verified Market Research's most recent report, "Private Plane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth
Aircraft Lighting Systems Market : Commercial Aircraft, General Aviation and Pri …
According to a new report published by Allied Market Research, titled, "Aircraft Lighting Systems Market," The aircraft lighting systems market was valued at $1.5 billion in 2020, and is estimated to reach $2.3 billion by 2030, growing at a CAGR of 4.9% from 2021 to 2030. 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/2405 The aircraft lighting system industry holds a great potential in the future, owing to the rise in the global aviation
Aircraft Refurbishing Market : Very light aircraft, Wide body aircraft, Narrow b …
The global aircraft refurbishing market was valued at $456.7 million in 2021, and is projected to reach $932.5 million by 2031, growing at a CAGR of 7.2% from 2022 to 2031. Sample Report with Latest Industry Trends - https://www.alliedmarketresearch.com/request-toc-and-sample/9465 COVID-19 scenario analysis: Aircraft refurbishing market might be among those exceptions of industries which are surviving despite COVID-19 pandemic, even more demand is expected to soar post pandemic. Aircraft refurbishing market as a whole was
Aircraft Refurbishing Market : Very light aircraft, Wide body aircraft, Narrow b …
The global aircraft refurbishing market was valued at $456.7 million in 2021, and is projected to reach $932.5 million by 2031, growing at a CAGR of 7.2% from 2022 to 2031 by Refurbishing Service (Interior, Exterior), by Aircraft Type (Very light aircraft, Wide body aircraft, Narrow body aircraft, Large body aircraft, VIP aircraft), by Type (Passenger to freighter, Commercial Aircraft Cabin, VIP Cabin Refurbishing), by End Use (Government, Commercial): Global
Global Aircraft Line Maintenance Market By Aircraft Type: Narrow Body Aircraft ( …
According to the latest research by SkyQuest Technology, the Global Aircraft Line Maintenance Market was valued at USD 18.38 billion in 2021, and it is expected to reach USD 28.53 billion by 2028, with a CAGR of 5.80% during the forecast period of 2022 - 2028. The research provides up-to-date Aircraft Line Maintenance market analysis of the current market landscape, latest trends, drivers, and overall market environment. Get full report
Aircraft Cables Market End User (Commercial Aircraft, Private Aircraft, Defense …
Aircraft cable is a type of cable, which mainly finds application in the aircraft industry. The high strength and versatile aircraft cable can also be used for various pushing and pulling applications that includes sheaves, pulleys, and winches among others. The size of the aircraft cable is between 0.047 inches to 0.375 inches, and constructed in various strand namely 1X7 strand, 1X19 strand, 7X7 strand, and 7X19 strand. Get Sample