More Electric Aircraft Market 2018 | Industry Prognosticated To Perceive Value Accretions With 4 % of CAGR by 2021

Market Highlights:

More electric aircraft (MEA) are advanced next-generation aircraft that use more electrical systems to reduce the non-propulsive power systems such as mechanical, hydraulic, and pneumatic systems. This has resulted in a reduction in the weight of the aircraft, leading to a low cost of ownership, usage of less fuel, a reduction in emissions, increased reliability, and other added benefits.
The global MEA market has grown significantly because of the increase in the global air traffic and the demand for new aircraft. MEA provide better fuel efficiency, and the reduction in the weight of the aircraft reduces the cost of owning and operating the aircraft. Also, the aircraft offer better performance and reliability because of the usage of less fuel for combustion, which helps in reducing their carbon footprint.

More electric aircraft (MEA) are being developed with the increasing demand of aircraft performance optimization, reduction in operating costs and gas emissions, and increased dispatch reliability. They supply electric power for all non-propulsive systems that were traditionally driven by secondary sources of energy such as hydraulic, pneumatic, mechanical, and electricity. However, rapid technological advances in the field of power electronics, electro-hydrostatic actuators, flight control systems, high-density electric motors, power generation, fault-tolerant architecture, and conversion systems have led to the development of MEA.

Therefore, the better results can be obtained by adopting MEA and shift toward replacing the hydraulic and pneumatic actuators with electrical actuation systems. It will also require a significant increase in the power of the electricity generation and distribution systems. R&D is already putting this into effect in the Airbus A380 and Boeing 787 Dreamliner, where a radically transformed onboard energy chain mainly based on electrical systems is enabled.

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Major Key Players

Airbus,
Honeywell International,
Raytheon,
Safran,
The Boeing Company,
United Technologies Corporation,
Thales Group,
Zodiac Aerospace SA,
Bombardier,
TTTech Computertechnik.

Industry/ Innovation/ Related News:

January, 2018:- AirSpaceX launched an electric VTOL aircraft at the North American International Auto Show in Detroit.
2014:- A survey of airline pilots was conducted, which reported that the pilots operating the Boeing 777 aircraft spent just seven minutes manually piloting their aircraft during a flight, whereas only half the time was required for those operating Airbus planes.

More Electric Aircraft Market – Segments

For the convenience of the report and enhanced understanding; the More Electric Aircraft market is segmented in to 2 key dynamics
Segmentation by Application: Commercial, Military, and UAV.
Segmentation by Platform: Commercial Aircraft, UAV, and Military Aircraft.
Segmentation by Regions: Comprises Geographical regions –Americas, Europe, APAC and Middle East and Africa.

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Competitive Analysis

In-house manufacturing capabilities, a global footprint network, product offerings, investment in R&D, newer technology, and a strong client base have become the key areas in which to have an edge over competitors. The global economic recovery, the growth of the aviation industry, new aircraft orders, R&D and investments in fuel-efficient engines, and the lucrative retrofit market have created an opportunity for aerospace industry players to compete and grow.
The global MEA market is highly competitive and vendors compete on the basis of cost, product quality, reliability, and aftermarket service. To survive and succeed in such an intensely competitive environment, it is crucial for vendors to provide cost-effective and high-quality MEA with the latest technology and materials.
Airbus and Boeing are the two leading vendors in manufacturing MEA for commercial and military markets. Their focus is primarily on reducing the usage of fuel in the aircraft by increasing the use of electric systems to perform the majority of the aircraft functions.

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