Aircraft Electrification Market Report 2024: Growth, Trends, Analysis, Forecast 2033

"The new report published by The Business Research Company, titled Aircraft Electrification Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the aircraft electrification market size has grown rapidly in recent years. It will grow from $5.54 billion in 2023 to $6.46 billion in 2024 at a compound annual growth rate (CAGR) of 16.7%. The aircraft electrification market size is expected to see rapid growth in the next few years. It will grow to $10.92 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.

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Rising Focus On Carbon Footprint Reduction Drives Growth In The Electric Aviation Market
The growing demand to reduce the carbon footprint is driving the electric aviation market. Carbon footprint refers to the total volume of greenhouse gases, notably carbon dioxide, that something, such as a person's actions or the manufacturing and shipping of a product, emits over a specified period. Carbon footprints can be reduced by bringing change in the way the activities are carried out. Aircraft electrification is one such change that will lead to a reduction in carbon footprint. Electric aircraft use electricity instead of fuel, reducing the emission of harmful gases into the atmosphere, thereby reducing carbon footprint. According to the World Economic Forum, nearly 3% of the world's carbon dioxide emissions are attributable to the aviation sector. By concentrating on four critical measures, it has committed to becoming carbon neutral by 2050. These include using hydrogen power, carbon offsets, and cleaner fuel. Thus, the growing demand to reduce the carbon footprint will fuel the aircraft electrification market.

Focus On Turbocharger Technology Strengthens Companies' Positions In The Aircraft Electrification Market
Companies in the aircraft electrification market are focusing on turbocharger technology and developing new products to strengthen their position in the market. In order to maintain sea-level take-off manifold pressure and full, rated power up to the engine's critical altitude, a turbocharger compresses the engine's intake of air. For example, in 2022, Rolls-Royce, a UK-based company that manufactures aero-engine, developed turbogenerator technology, which includes a new small engine designed for hybrid-electric applications. The technology will be a scalable onboard power source that will complement the Rolls-Royce Electrical propulsion portfolio and provide a longer range of sustainable aviation fuels and subsequently if hydrogen combustion becomes feasible.

The aircraft electrification market covered in this report is segmented -
1) By Component: Batteries, Fuel Cells, Solar Cells, Electric Actuators, Electric Pumps, Generators, Motor, Power Electronics, Distribution Devices
2) By Technology: Electric, Hybrid Electric, Fully Electric
3) By Platform: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), Advanced Air Mobility

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Major companies operating in the aircraft electrification market report are Safran S.A., Thales Group, Raytheon Technologies, General Electric Company, BAE Systems, Honeywell International Inc, Moog Inc, Textron Inc, Eaton, EaglePicher Technologies, Ge India, Nabtesco Corporation, The Boeing Company, Airbus Se, Catl, Byd Auto, Electroflight, Transair Flight Equipment, Custom Cells Itzehoe Gmbh, Saft Company, Wamtechnik Sp. Z O.O., Zenith Aircraft Company, Beta Technologies, Heart Aerospace, Universal Hydrogen, Wright Electric, Magnix, Ampaire, Bye Aerospace, Embraer S.A, Desaer, Collins Aerospace, Azul Linhas Aéreas Brasileiras S/A, Zeroavia, Abu Dhabi Aviation, Agusta Westland, Africa Flight Services, Bosasa Group.

Contents of the report:
1. Executive Summary
2. Aircraft Electrification Market Report Structure
3. Aircraft Electrification Market Trends And Strategies
4. Aircraft Electrification Market - Macro Economic Scenario
5. Aircraft Electrification Market Size And Growth
…..
27. Aircraft Electrification Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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