Skyrocketing Growth in More Electric Aircraft Market: CAGR of 13.3% Forecasted by 2029, Driven by Fuel Efficiency and Technological Advancements

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Exploring the global expansion of the more electric aircraft market, from $3.21 billion in 2024 to an estimated reach of $6.05 billion by 2029, fuelled by demands for fuel efficiency, technological advancements, and environmental regulations.

What Is The Projected Market Size Of The Global More Electric Aircraft Market And Its Growth Rate?
• The more electric aircraft market, valued at $3.21 billion in 2024, is forecast to grow to $3.67 billion in 2025 at a CAGR of 14.4%.
• This rapid growth is attributed to fuel efficiency demands, environmental regulations, advancements in power electronics, reduced maintenance costs, enhanced aircraft performance, increased reliability, and redundancy.
• By 2029, the market size is projected to reach $6.05 billion at a CAGR of 13.3%.
• Key growth drivers in the forecast period include the adoption of distributed electric propulsion, advancements in energy storage systems, integration of sustainable aviation fuels, and increased investment in electric propulsion research.

What Is Driving The Growth In The More Electric Aircraft Market?
The rise in air passenger traffic is a key growth factor for the more electric aircraft market. As more electric aircraft are used to carry both commercial and business passengers, the importance of these aircraft will increase with the rise in passenger numbers. For instance, the International Air Transport Association (IATA) anticipates that air traveller numbers will reach 4.0 billion in 2024, exceeding pre-COVID-19 levels by 103%. Hence, the rise in air passenger traffic is a major catalyst for the growth of the more electric aircraft market.

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Who Are the Key Players Driving More Electric Aircraft Market Growth?
•AMETEK Inc.
•BAE Systems PLC
•Bombardier Inc.
•Elbit Systems Ltd.
•GE Aviation
•Honeywell International Inc.
•Raytheon Technologies Corporation
•Rolls-Royce Holdings PLC
•Safran Group
•Thales Group
•Boeing
•Airbus S.A.S
•Lockheed Martin
•Parker-Hannifin Corp.
•Eaton
•Ampaire
•Bye Aerospace
•Dixion Motors Inc.
•Dufour Aerospace
•Electric Aircraft Corporation
•Embraer SA
•Eviation Alice
•Faradair
•Joby Aviation
•Longanair Ltd.
•Magnix
•Pipistrel USA
•Siemens
•Wright Electric
•Zunum Aero
•AeroTEC

What Are The Key Trends In The More Electric Aircraft Market?
• The integration of integrated modular avionics (IMA)
• The rise of electrified flight control systems
• Increased use of electric brakes
• Innovations in power generation
• Increased integration of distributed electric propulsion
• More collaborations for research and development

What Are The Segments Of The Global More Electric Aircraft Market?
• By Type: Fixed Wing, Rotary Wing, Hybrid Wing
• By Aircraft System: Propulsion System, Airframe System
• By Application: Power Generation, Power Distribution, Power Conversion, Energy Storage
• By End User: Civil, Military

Which Region Leads The More Electric Aircraft Market?
Europe was the largest contributor to the more electric aircraft market in 2024. However, significant growth is also expected across other global regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa as advancements in aviation technology continue to rise.

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What Is Covered In The More Electric Aircraft Market Global Market Report?

- Market Size Analysis: Analyze the More Electric Aircraft Market size by key regions, countries, product types, and applications.

- Market Segmentation Analysis: Identify various subsegments within the More Electric Aircraft Market for effective categorization.

- Key Player Focus on key players to define their market value, share, and competitive landscape.

- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.

- Market Contribution: Evaluate contributions of different segments to the overall More Electric Aircraft Market growth.

- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.

- Industry Challenges: Analyze challenges and risks affecting the More Electric Aircraft Market.

- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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