More Electric Aircraft Market 2018 Global Key Players: United Technologies Corporation, Bombardier, TT Tech Computer technik, and Zodiac Aerospace SA

Market Overview:

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, More Electric Aircraft have been proved effective in reducing the overall cost with the improved operations while being gentle on the environment reducing the carbon footprints. Other factors like increasing number of aircraft deliveries and the demand for fuel-efficient aircraft with less carbon emission etc. are some of the major market growth propelling factors. Prominent trend of the market observed during the analysis is shift to fuel cells usage.

Technological advancements transpired in power electronics, electro-hydrostatic actuators, fault-tolerant architecture, high density electric motors, flight control systems, power generation and conversion systems; have elevated the market growth of the MEA. Leverage to this trend of technological development aircraft OEMs are increasingly collaborating with their suppliers to design new systems and implement new electrical-intensive architectures.

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Key Players

Raytheon, Safran, Airbus, Honeywell International, The Boeing Company, Thales Group, United Technologies Corporation, Bombardier, TT Tech Computer technik, and Zodiac Aerospace SA are some of the leaders driving the Global More Electric Aircraft Market. Profiling those in its analysis MRFR finds out their strategies placing them at the forefront of completion.

Industry/ Innovation/ Related News:

February 15, 2018 – Eviation Aircraft Ltd. (Israel) a Electric airplane manufacturing start-up announced that it has partnered with Kokam (South Korea) a leading battery supplier to develop its 9-seat commuter aircraft scheduled to fly by 2021.
February 02, 2018 – Zunum Aero (US) announced commencement of building its first prototype electric airplane motor, and plans to put an upgraded version on a test aircraft in 2019. The company also mentioned that it is working on a new class of regional airplanes with hybrid electric propulsion systems, & scheduled to commence the service in 2022. The project is backed by the companies like JetBlue, Boeing including other investors.
January 28, 2018 – Extra Aircraft Company (Germany) announced the actuation of two new seats in its electric aircraft - Extra 330LE. Matted to a Siemens electric motor the new ePlane soars up to 3,000 mtrs. in just 4.22 minutes, with a climbing rate of 11.5 m/s. The Extra 330LE is officially recognized by the FAI (Fédération Aéronautique Internationale) and has already created the best performance world record in November 2016.

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Worldwide MEA Market – Geographical Analysis
Americas led the global More Electric Aircraft market with ~35% of market share in 2015; followed by APAC and EMEA respectively at a notable CAGR.
Although, the Americas is the leading market, developing regions like APAC & EMEA are witnessing increasing demand for MEA in civil & military aircraft. These regions are expected to grow further at a substantial CAGR during 2016 – 2021.
The Americas More Electric Aircraft market is expected to reach to astronomical amounts in 2021, growing at a significant CAGR during the estimated period.

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