Aircraft Electrification Market

The global aircraft electrification market foreseen to grow by 12.7%, from USD 5.84 Billion in 2021 to USD 15.20 Billion in 2029. Refinements in batteries, electric engines, and power electronics, the growing need for cleaner and quieter aircraft, and low operational costs are driving the market growth over the forecast period. However, the limited range of electric aircraft and power density limitations of electric propulsion technology remain factors hampering the market growth.

Market Definition

What is Aircraft Electrification?

Aeroplanes generate electricity using an alternate generator. Planes have batteries, a more advanced electrical system, and batteries are an integral component. Aircraft electrification is necessary to achieve the goal, and the aircraft industry is generating opportunities and expanding technology.

Market Overview

The aircraft electrification market search study helps to thoroughly understand the current trend in the market competitive analysis of the players in the emerging market. Moreover, the DRO in the aircraft electrification market offers valuable perspicuity and a current scenario for making the right decision. The research study covers the eminent players in the market with a detailed analysis of the company and a financial overview containing their net sales, business mix and geographical reach It mainly focuses on the key developments of the products/services offered by the company in recent years. Besides, we at Zettabyte have the expertise to analyses the global aircraft electrification market player's competitive landscape helping the client comprehend their specific strategic growth approaches.

Aircraft electrification market study by "Zettabyte Analytics" offers details about the market scope, market segmentation, technological advancement in the aircraft electrification market and highlights the optimistic, competitive landscape and trends enduring over the years.

Major players in the aircraft electrification market Acme aerospace Inc. ,Aegis Power Systems, Inc.,Ametek, Inc.,Artzell Engine Technologies,Astronics Corporation, Avionic Instruments, Llc, Bae Systems, Carlisle Interconnect Technologies, Crane aerospace & Electronics, Crouzet Automatismes,CTS Corporation, Eaglepicher Technologies Llc, Electromech Technologies,Enersys, General Electric, Honeywell International Inc., Lee Air, Inc., MagniX, Meggitt Plc, Nabtesco Corporation, Pbs aerospace, Pioneer Magnetics, Radiant Power Corporation, Raytheon Technologies, Safran, Thales Group

COVID-19 Impact on Global Aircraft Electrification Market

The global impact of COVID-19 has lost millions of lives with a massive cost to the healthcare system. Moreover, the treatment cost for patients with COVID-19 has also had a financial impact globally. The impact of COVID-19 on the aircraft electrification market has forced the companies to change their sourcing, pricing, and promotion strategies. The aircraft electrification market players are seen focusing more on optimizing the E-commerce networks with the rising innovations in the digital sector, which are creating new business models for the food and beverage industry player.

Research Scope

The report provides market value for the base year 2021 and a yearly forecast from 2022 to 2029 in revenue (USD Million/ Billion). The market for each segment is present in North America, Europe, Asia Pacific, Latin America, Middle East & africa, and the regional basis for the forecast mentioned above.

Key industry dynamics, regulatory scenarios, major material dynamics and aircraft electrification market future markets are analyzed to understand their impact on demand for the forecast period. Growth rates have been estimated using correlation, regression and time-series analysis.

Market Segmentation

For the purpose of this report, the global aircraft electrification market segmented on the basis of product type, function type, form type, end user, and region:

Component Outlook:

On the basis of component, the market is segmented into batteries, distribution devices, electric actuators, electric pumps, fuel cells, generators, motors, power electronics solar cells.

Figure 1 Aircraft Electrification Market By Component (Market Size And Forecast By Value - USD Million, 2021 & 2029)

Technology Outlook:

On the basis of technology, the market is segmented into fully electric, hybrid electric, more electric.

Figure 2 Technology Outlook (Revenue, USD Million, 2021)