Aircraft Electrification Market

Aircraft Electrification Market by Technology (More Electric, Hybrid Electric, Fully Electric), Application, System, Component (Batteries, Fuel Cells, Actuators, Generators, Power Electronics, Distribution Devices), Platform, Region - Global Forecast to 2030

Report Code: AS 7520 Feb, 2020, by marketsandmarkets.com

The aircraft electrification market is estimated to be USD 3.4 billion in 2022 and is projected to reach USD 8.6 billion by 2030, at a CAGR of 12.2% from 2022 to 2030. Increasing focus on reducing carbon emissions and aircraft noise are major factors expected to drive the market in the coming years.

Aircraft Electrification Market

The propulsion systems segment is projected to lead the aircraft electrification market in 2030

Based on system, the propulsion systems segment is projected to lead the aircraft electrification market by 2030. Electrification of propulsion systems is expected to boost the power for take-off as well as climb, thereby creating an efficient electrical replacement for a regular turbofan with a 2-megawatt liquid-cooled electric motor. The increasing penetration of electric propulsion is expected to reduce fuel burn substantially, leading to a decrease in atmospheric emissions.

The business & general aviation segment is projected to grow at the highest CAGR during the forecast period

Increasing aircraft electrification activities for shorter range aircraft are driving the market for business & general aviation aircraft. Due to the availability of limited capacity batteries in the current market, a majority of the developments are being undertaken for the business & general aviation segment. Several initiatives announced by governing bodies towards the development of emission-less domestic air travel is further expected to drive the growth of the business & general aviation segment.  

Aircraft Electrification Market

Europe estimated to account for the largest share of the aircraft electrification market in 2022

Europe is a major potential aircraft electrification market. An increase in carbon emissions due to the increasing passenger traffic is the major reason for the increased demand for electric aircraft in countries such as France, Germany, UK, and Switzerland, among other countries. Government bodies such as the European Union Aviation Safety Agency (EASA), the European Defence Agency (EDA), the UK Civil Aviation Authority (CAA), and the European Air Transport Command, among others, play a crucial role in ensuring transportation safety and addressing various issues related to air transport such as carbon emissions and noise pollution, among others. In Norway, policymakers have called for all short-haul flights to be electric by 2040. The presence of key manufacturers of electric aircraft in Europe including Rolls-Royce (UK), Safran Group (France), GKN Aerospace (UK), Airbus (Netherlands), Thales Group (France), and Turbomeca (France), among others are further driving the growth of the aircraft electrification market in Europe.

Key Market Players

The key market players in the aircraft electrification market are Honeywell International Inc. (US), Safran (France), Thales Group (France), United Technologies Corporation (US), GE Aviation (US), Raytheon Company (US), AMETEK (US), Meggitt PLC (UK), BAE Systems (UK), Radiant Power Corporation (US), EaglePicher Technologies LLC (Canada), Astronics Corporation (US), Pioneer Magnetics (US), Esterline Technologies (US), Crane Aerospace & Electronics (US), Hartzell Engine Technologies (US), PBS AEROSPACE (US), Nabtesco Corporation (Japan), Avionic Instruments, LLC (US), andCarlisle Interconnect Technologies (US), among others.

Scope of the Report

Report Metric

Details

Market Size Available for Years

2022–2030

Base Year Considered

2022

Forecast Period

2022-2030

Forecast Units

Value (USD)

Segments Covered

Technology, Application, System, Component, Platform, and Region

Geographies Covered

North America, Asia Pacific, Europe, Middle East, and Latin America

Companies Covered

Honeywell International Inc. (US), Safran (France), Thales Group (France), United Technologies Corporation (US), GE Aviation (US), Raytheon Company (US), AMETEK (US), Meggitt PLC (UK), BAE Systems (UK), Radiant Power Corporation (US), EaglePicher Technologies LLC (Canada), Astronics Corporation (US), Pioneer Magnetics (US), Esterline Technologies (US), Crane Aerospace & Electronics (US), Hartzell Engine Technologies (US), PBS AEROSPACE (US), Nabtesco Corporation (Japan), Avionic Instruments, LLC (US), and Carlisle Interconnect Technologies (US). A total of 20 companies covered.

This research report categorizes the aircraft electrification market based on technology, application, system, component, platform, and region.

On the basis of Technology, the aircraft electrification market is segmented as follows:

  • More Electric
  • Hybrid Electric
    • Solar Powered
    • Battery Powered
    • Fuel Cell Powered
  • Fully Electric

On the basis of Application, the aircraft electrification market is segmented as follows:

  • Power Generation
  • Power Distribution
  • Power Conversion
  • Energy Storage

On the basis of System, the aircraft electrification market is segmented as follows:

  • Propulsion Systems
  • Aircraft Systems

On the basis of Component, the aircraft electrification market is segmented as follows:

  • Batteries
  • Fuel Cells
  • Solar Cells
  • Electric Actuators
  • Electric Pumps
  • Generators
  • Motors
  • Power Electronics
  • Distribution Devices

On the basis of Platform, the aircraft electrification market is segmented as follows:

  • Commercial Aviation
    • Narrow Body Aircraft
    • Wide Body Aircraft
    • Regional Transport Aircraft
  • Military Aviation
    • Fighter Jets
    • Multi-mission Aircraft
    • Unmanned Aerial Vehicles
  • Business & General Aviation
    • Light Aircraft
    • Business Jets
    • Helicopters
    • Passenger Aerial Vehicles (PAVs)

On the basis of Region, the aircraft electrification market is segmented as follows:

  • North America
  • Europe
  • Asia Pacific
  • Middle East
  • Latin America

Recent Developments

  • In June 2019, Honeywell International Inc. (US) and DENSO Corporation (Japan) collaborated for the development of the electric propulsion system for urban air mobility. This is expected to offer several market opportunities in electric aircraft technology.
  • In June 2019, Daher (France), Safran (France), and Airbus (France) announced a joint venture for the development of EcoPulseTM, a distributed hybrid propulsion aircraft demonstrator. This is expected to accelerate the evolution of conventional aircraft towards hybrid electric aircraft.
  • In September 2019, Safran (France) and Boeing (US) announced joint investment in electric power systems (EPS) that are expected to help develop batteries for the urban air mobility and electric aircraft projects.
  • In June 2019, United Technologies Corporation (US) announced the development of Project 804, a hybrid-electric X-Plane which is expected to achieve flight by 2022.
  • In September 2019, GE Aviation (US) and NASA (US) partnered to develop inverters for large commercial electric aircraft.

Key Questions Addressed by the Report

  • What is the growth perspective of the aircraft electrification market?
  • What are the key dynamics and trends governing the market?
  • What are the key sustainability strategies adopted by the leading players in the aircraft electrification market?
  • What are the new and emerging technologies and use cases disrupting the aircraft electrification market?
  • What are the application areas in various aircraft platforms which are witnessing the adoption of aircraft electrification?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 21)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Regional Scope
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Market Stakeholders

2 Research Methodology (Page No. - 25)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
           2.1.3 Market Definition & Scope
                    2.1.3.1 Inclusions
                    2.1.3.2 Exclusions
           2.1.4 Segment Definition
                    2.1.4.1 Technology
                    2.1.4.2 Application
                    2.1.4.3 System
                    2.1.4.4 Component
                    2.1.4.5 Platform
    2.2 Research Approach & Methodology
           2.2.1 Bottom-Up Approach
           2.2.2 Electrification Market for More Electric Aircraft (MEA)
                    2.2.2.1 More Electric Aircraft Electrification Market Research Methodology Sample
           2.2.3 Top-Down Approach
    2.3 Triangulation & Validation
           2.3.1 Triangulation Through Primary and Secondary Research
    2.4 Research Assumptions
           2.4.1 Market Sizing and Market Forecasting
    2.5 Risk Analysis

3 Executive Summary (Page No. - 35)

4 Premium Insights (Page No. - 37)
    4.1 Attractive Opportunities in the Aircraft Electrification Market
    4.2 Aircraft Electrification Market, By System
    4.3 Aircraft Electrification Market, By Platform
    4.4 Aircraft Electrification Market, By Region

5 Market Overview (Page No. - 39)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Low Operational Costs
                    5.2.1.2 Reduced Emission and Aircraft Noise
           5.2.2 Restraints
                    5.2.2.1 Limited Range of Electric Aircraft
           5.2.3 Opportunities
                    5.2.3.1 Emergence of Alternative Power Sources for Electric Power Generation
                    5.2.3.2 Development of Lithium-Ion Batteries
                    5.2.3.3 Development of Advanced Power Electronics Components
           5.2.4 Challenges
                    5.2.4.1 Reliability of Electrical Systems in Harsh Environments
                    5.2.4.2 Electrification of Large Commercial Jets

6 Industry Trends (Page No. - 45)
    6.1 Introduction
    6.2 Aircraft Electrification Roadmap 2016 to 2040
    6.3 Electric and Hybrid Aircraft Programs in 2019
    6.4 Upcoming Trends in Hybrid and Electric Propulsion
           6.4.1 Multifunctional Structures for High-Energy Lightweight Loadbearing Storage (M-Shells)
           6.4.2 Integrated Computational-Experimental Development of Li-Air Batteries for Electric Aircraft (Li-On)
           6.4.3 High Voltage Hybrid Electric Propulsion (HVHEP)
           6.4.4 Compact High Power Density Machine-Enabled By Additive Manufacturing
           6.4.5 Design Environment for Novel Vertical Lift Vehicles – Cryocooling HEP Task (Deliver)
           6.4.6 Fostering Ultra-Efficient, Low-Emitting Aviation Power (Fueleap)
           6.4.7 Scalable Convergent Electric Propulsion Technology and Operations Research (Sceptor)
    6.5 Electric Component Technology Trends
           6.5.1 50kg Electric Motor
           6.5.2 Fuel Cell Technology
           6.5.3 Advanced Batteries
                    6.5.3.1 Lithium-Sulfur (LI-S)
           6.5.4 Distributed Electric Propulsion (DEP)
    6.6 Nasa Concept Electric Aircraft Programs
    6.7 Nasa Future Aircraft Technologies
           6.7.1 Nasa Future Aircraft Electric Machines
           6.7.2 Nasa Future Aircraft Converters
           6.7.3 Nasa Future Aircraft Materials
                    6.7.3.1 Soft Magnetic Materials
                    6.7.3.2 New Insulation Materials
                    6.7.3.3 High-Conductivity Copper/Carbon Nanotube Conductor
                    6.7.3.4 Development of the Superconducting Wire

7 Aircraft Electrification Market, By Technology (Page No. - 52)
    7.1 Introduction
    7.2 More Electric
           7.2.1 The Growing Need to Optimize Aircraft Performance Boosts Growth of the More Electric Aircraft Market
           7.2.2 More Electric Aircraft Programs, By Category
    7.3 Hybrid Electric
           7.3.1 Increased Investments Expected By Nasa in Aircraft Hybrid Electric Technology
           7.3.2 Solar Powered
           7.3.3 Battery Powered
           7.3.4 Fuel Cell Powered
           7.3.5 Hybrid Electric Aircraft Programs, By Category
    7.4 Fully Electric
           7.4.1 Increasing Investments Planned for Electrical Systems and Electrical-Intensive Architectures
           7.4.2 Fully Electric Aircraft Programs, By Category

8 Aircraft Electrification, By Application (Page No. - 59)
    8.1 Introduction
    8.2 Power Generation
           8.2.1 Increasing Demand for More Electric Architecture Aircraft Fueling the Growth of the Power Generation Segment
    8.3 Power Distribution
           8.3.1 Trend of Developing Electrical Components Influences the Growth of the Power Distribution Segment
    8.4 Power Conversion
           8.4.1 Increase in Operational Efficiency & Reduction in Total Aircraft System Weight Drive the Demand for Power Conversion
    8.5 Energy Storage
           8.5.1 Increasing use of Advanced Battery and Fuel Cell Systems Boosts the Demand for Energy Storage

9 Aircraft Electrification Market, By System (Page No. - 63)
    9.1 Introduction
    9.2 Propulsion Systems
           9.2.1 Airbus S.A.S. (Netherlands), Rolls-Royce (UK), and Siemens AG (Germany) Entered Into a Partnership to Develop the E-Fan X Hybrid-Electric Technology for Aircraft
    9.3 Aircraft Systems
           9.3.1 Aerospatiale (France) Was the First Company to Develop and Equip Electrical Aircraft Systems

10 Aircraft Electrification Market, By Component (Page No. - 66)
     10.1 Introduction
     10.2 Batteries
             10.2.1 Lithium–Sulfur and Lithium Titanate Batteries are the Future of Aircraft Battery Technologies
             10.2.2 Nickel-Based
             10.2.3 Lead-Acid-Based
             10.2.4 Lithium-Based
     10.3 Fuel Cells
             10.3.1 Increased Efficiency of a Fuel Cell Leads to Reduction of the Fuel Load on Aircraft
     10.4 Solar Cells
             10.4.1 Solar Cell Airplanes Do Not Require Fuel to Produce Electric Power
     10.5 Electric Actuators
             10.5.1 Airlines are Fitting Their Fleets With Electric Actuators for Their High Reliability
     10.6 Electric Pumps
             10.6.1 Demand for Electric Pumps That are Adaptable for Next-Generation Aircraft is Increasing
     10.7 Generators
             10.7.1 Key Market Players are Developing Generators That Provide Advanced Performance, Require Reduced Maintenance, and Lower Costs of Operation
     10.8 Motors
             10.8.1 Electric Motors Have a Greater Range of Speed Than Combustion Engines, Which Reduces the Need for Gearboxes
     10.9 Power Electronics
             10.9.1 Power Electronics Likely to Result in Significant Profits in Terms of Efficiency and Flexibility
     10.10 Distribution Devices
               10.10.1 Shift Toward Electrification of Aircraft has Increased Demand for Distribution Devices

11 Aircraft Electrification Market, By Platform (Page No. - 71)
     11.1 Introduction
     11.2 Commercial Aviation
             11.2.1 Narrow Body Aircraft (RTA)
                       11.2.1.1 Replacement of Hydraulic and Pneumatic Aircraft Systems With Electric Systems Drives the Demand for Narrow Body Aircraft
             11.2.2 Wide Body Aircraft (Wba)
                       11.2.2.1 Increase in Air Passenger Travel has Raised the Demand for Wide Body Aircraft
             11.2.3 Regional Transport Aircraft (RTA)
                       11.2.3.1 Use of Advanced Flight Management System Technology Fuels the Demand for Electrification of Regional Transport Aircraft
     11.3 Military Aviation
             11.3.1 Fighter Jets
                       11.3.1.1 Adoption of Advanced Fighter Jets is Growing Due to Increasing Military Budgets
             11.3.2 Multi-Mission Aircraft
                       11.3.2.1 Increasing Applications of Military Aircraft to Drive the Market
             11.3.3 Unmanned Aerial Vehicles
                       11.3.3.1 Use of Uavs for Surveillance Applications is Increasing
     11.4 Business & General Aviation
             11.4.1 Light Aircraft
                       11.4.1.1 Frequent Modifications in Light Aircraft Expected to Fuel the Market for Aircraft Electrification
             11.4.2 Business Jets
                       11.4.2.1 Increasing Electrification of Short-Range Aircraft Drives the Marker for Business Jets
             11.4.3 Helicopters
                       11.4.3.1 Use of Hybrid-Electric and Electric Propulsion Systems in Helicopters is Increasing
             11.4.4 Passenger Aerial Vehicles (PAV)
                       11.4.4.1 Development of Smart Cities has Led to the Introduction of Passenger Aerial Vehicles for Intracity and Intercity Transport

12 Regional Analysis (Page No. - 78)
     12.1 Introduction
     12.2 North America
             12.2.1 US
                       12.2.1.1 Presence of Leading Aircraft and Aircraft Electric Component Manufacturers Drives the Growth of the Market in the US
             12.2.2 Canada
                       12.2.2.1 Growth of Aerospace Industry in Canada Fuels the Adoption of Electrification in Modern Aircraft
     12.3 Europe
             12.3.1 France
                       12.3.1.1 Presence of Leading Aircraft Manufacturers Drives the Growth of the Market in France
             12.3.2 UK
                       12.3.2.1 Presence of Aircraft OEMS as Well as Aircraft Electric Component Manufacturers Drives Growth of the Market in the UK
             12.3.3 Norway
                       12.3.3.1 Supportive Government Policies and Short Airfield Network Drives the Market in Norway
             12.3.4 Switzerland
                       12.3.4.1 Strong Global Connectivity to Drive the Demand for Emission-Less Electric Aircraft in Switzerland
             12.3.5 Sweden
                       12.3.5.1 Growing Zero-Emission Transportation Initiatives in the Country to Drive the Market in Sweden
             12.3.6 Russia
                       12.3.6.1 Presence of OEMS Expected to Drive the Market in Russia
             12.3.7 Italy
                       12.3.7.1 High Demand for Electric Components From Aircraft Manufacturers in Italy Supports Market Growth
             12.3.8 Germany
                       12.3.8.1 Developments in Electric Propulsion Drive the Market in Germany
             12.3.9 Rest of Europe
                       12.3.9.1 Increasing Emphasis on Zero-Emission Flying to Drive the Market in the Rest of Europe
     12.4 Asia Pacific
             12.4.1 China
                       12.4.1.1 Significant Potential for the Adoption of Electric Propulsion Drives the Growth of the Market in China
             12.4.2 Japan
                       12.4.2.1 Advanced Technological Capabilities Along With Skilled Workforce Expected to Drive the Market in Japan
             12.4.3 India
                       12.4.3.1 Improving Domestic Capabilities of Aerospace Industry Drive the Indian Market for Aircraft Electrification
             12.4.4 Australia
                       12.4.4.1 Penetration of Advanced Technology in International as Well as Domestic Air Traffic Drives the Market for Aircraft Electrification in Australia
             12.4.5 New Zealand
                       12.4.5.1 Aircraft Manufacturers Undertaking Electrification of Aircraft Support the Growth of the Market in New Zealand
             12.4.6 South Korea
                       12.4.6.1 Presence of Electric Component Manufacturers in South Korea Supports Growth of the Market in the Country
             12.4.7 Rest of Asia Pacific
                       12.4.7.1 Availability of Raw Material as Well as Cheap Labor in the Rest of Asia Pacific to Stimulate Market Growth
     12.5 Middle East
             12.5.1 Israel
                       12.5.1.1 Emergence of Start-Ups in Electric Aircraft Manufacturing Drives the Market in Israel
             12.5.2 UAE
                       12.5.2.1 Presence of Leading Global Airlines to Drive the Market for Aircraft Electrification in the UAE
             12.5.3 Saudi Arabia
                       12.5.3.1 Significant Growth of Airlines Drives the Demand for Aircraft Electrification in Saudi Arabia
             12.5.4 Rest of the Middle East
                       12.5.4.1 Growing Demand for Aircraft Electric Components to Drive the Market in the Rest of the Middle East
     12.6 Latin America
             12.6.1 Brazil
                       12.6.1.1 Presence of Major Airlines and Manufacturers Drives the Market for Aircraft Electrification in Brazil
             12.6.2 Mexico
                       12.6.2.1 Investments By Global Aircraft Manufacturing Companies in Mexico to Drive Market Growth in the Country
             12.6.3 Rest of Latin America
                       12.6.3.1 Availability of Low-Cost Raw Materials Drives the Market for Aircraft Electrification in the Rest of Latin America

13 Competitive Landscape (Page No. - 118)
     13.1 Introduction
     13.2 Competitive Leadership Mapping
             13.2.1 Visionary Leaders
             13.2.2 Innovators
             13.2.3 Dynamic Differentiators
             13.2.4 Emerging Companies
     13.3 Ranking of Key Players, 2019
     13.4 Competitive Scenario
             13.4.1 New Product Launches
             13.4.2 Contracts
             13.4.3 Other Strategies

14 Company Profiles (Page No. - 126)
(Business Overview, Products Offered, Components and Served Customers, Right to Win, Recent Developments, Growth Strategies, SWOT Analysis, MnM View)*
     14.1 Honeywell International Inc.
     14.2 Safran
     14.3 Thales Group
     14.4 United Technologies Corporation
     14.5 GE Aviation
     14.6 Raytheon Company
     14.7 Ametek
     14.8 Meggitt PLC.
     14.9 BAE Systems
     14.10 Radiant Power Corporation
     14.11 Eaglepicher Technologies, LLC
     14.12 Astronics Corporation
     14.13 Pioneer Magnetics
     14.14 Esterline Technologies (Transdigm Group)
     14.15 Crane Aerospace & Electronics
     14.16 Hartzell Engine Technologies
     14.17 PBS Aerospace
     14.18 Nabtesco Corporation
     14.19 Avionic Instruments, LLC
     14.20 Carlisle Interconnect Technologies

*Business Overview, Products Offered, Components and Served Customers, Right to Win, Recent Developments, Growth Strategies, SWOT Analysis, MnM View Might Not be Captured in Case of Unlisted Companies.

15 Appendix (Page No. - 171)
     15.1 Discussion Guide
     15.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     15.3 Available Customizations
     15.4 Related Reports
     15.5 Author Details


List of Tables (121 Tables)

Table 1 USD Exchange Rates
Table 2 Electrification Market for Hybrid and Fully Electric Aircraft
Table 3 Electric and Hybrid Aircraft Programs, 2019
Table 4 Types of Advanced Aircraft Batteries: Comparative Study
Table 5 Electric and Hybrid Aircraft Programs
Table 6 Aircraft Electrification Market, By Technology, 2022–2030 (USD Million)
Table 7 More Electric Aircraft Programs, By Category
Table 8 Hybrid Electric Market, By Technology, 2022–2030 (USD Million)
Table 9 Hybrid Electric Aircraft Programs, By Category
Table 10 Fully Electric Aircraft Programs, By Category
Table 11 Market, By Application, 2022–2030 (USD Million)
Table 12 Market, By System, 2022–2030 (USD Million)
Table 13 Market, By Component, 2022–2030 (USD Million)
Table 14 Market, By Platform, 2022–2030 (USD Million)
Table 15 Commercial Aviation: Market, By Aircraft Type, 2022–2030 (USD Million)
Table 16 Military Aviation: Market, By Aircraft Type, 2022–2030 (USD Million)
Table 17 Business & General Aviation: Market, By Aircraft Platform, 2022–2030 (USD Million)
Table 18 Market, By Region, 2022—2030 (USD Million)
Table 19 North America: Market, By Technology, 2022–2030 (USD Million)
Table 20 North America: Market, By System, 2022—2030 (USD Million)
Table 21 North America: Market, By Platform, 2022—2030 (USD Million)
Table 22 North America: Market, By Country, 2022—2030 (USD Million)
Table 23 US: Market, By Technology, 2022–2030 (USD Million)
Table 24 US: Market, By System, 2022—2030 (USD Million)
Table 25 US: Market, By Platform, 2022—2030 (USD Million)
Table 26 Canada: Market, By Technology, 2022–2030 (USD Million)
Table 27 Canada: Market, By System, 2022—2030 (USD Million)
Table 28 Canada: Market, By Platform, 2022—2030 (USD Million)
Table 29 Europe: Market, By Technology, 2022–2030 (USD Million)
Table 30 Europe: Market, By System, 2022—2030 (USD Million)
Table 31 Europe: Market, By Platform, 2022—2030 (USD Million)
Table 32 Europe: Market, By Country, 2022—2030 (USD Million)
Table 33 France: Market, By Technology, 2022–2030 (USD Million)
Table 34 France: Market, By System, 2022—2030 (USD Million)
Table 35 France: Market, By Platform, 2022—2030 (USD Million)
Table 36 UK: Market, By Technology, 2022–2030 (USD Million)
Table 37 UK: Market, By System, 2022—2030 (USD Million)
Table 38 UK: Market, By Platform, 2022—2030 (USD Million)
Table 39 Norway: Market, By Technology, 2022–2030 (USD Million)
Table 40 Norway: Market, By System, 2022—2030 (USD Million)
Table 41 Norway: Market, By Platform, 2022—2030 (USD Million)
Table 42 Switzerland: Market, By Technology, 2022–2030 (USD Million)
Table 43 Switzerland: Market, By System, 2022—2030 (USD Million)
Table 44 Switzerland: Market, By Platform, 2022—2030 (USD Million)
Table 45 Sweden: Market, By Technology, 2022–2030 (USD Million)
Table 46 Sweden: Market, By System, 2022—2030 (USD Million)
Table 47 Sweden: Market, By Platform, 2022—2030 (USD Million)
Table 48 Russia: Market, By Technology, 2022–2030 (USD Million)
Table 49 Russia: Market, By System, 2022—2030 (USD Million)
Table 50 Russia: Market, By Platform, 2022—2030 (USD Million)
Table 51 Italy: Market, By Technology, 2022–2030 (USD Million)
Table 52 Italy: Market, By System, 2022—2030 (USD Million)
Table 53 Italy: Market, By Platform, 2022—2030 (USD Million)
Table 54 Germany: Market, By Technology, 2022–2030 (USD Million)
Table 55 Germany: Market, By System, 2022—2030 (USD Million)
Table 56 Germany: Market, By Platform, 2022—2030 (USD Million)
Table 57 Rest of Europe: Market, By Technology, 2022–2030 (USD Million)
Table 58 Rest of Europe: Market, By System, 2022—2030 (USD Million)
Table 59 Rest of Europe: Market, By Platform, 2022—2030 (USD Million)
Table 60 Asia Pacific: Market, By Technology, 2022–2030 (USD Million)
Table 61 Asia Pacific: Market, By System, 2022–2030 (USD Million)
Table 62 Asia Pacific: Market, By Platform, 2022–2030 (USD Million)
Table 63 Asia Pacific: Market, By Country, 2022–2030 (USD Million)
Table 64 China: Market, By Technology, 2022–2030 (USD Million)
Table 65 China: Market, By System, 2022–2030 (USD Million)
Table 66 China: Market, By Platform, 2022–2030 (USD Million)
Table 67 Japan: Market, By Technology, 2022–2030 (USD Million)
Table 68 Japan: Market, By System, 2022–2030 (USD Million)
Table 69 Japan: Market, By Platform, 2022–2030 (USD Million)
Table 70 India: Market, By Technology, 2022–2030 (USD Million)
Table 71 India: Market, By System, 2022-2030 (USD Million)
Table 72 India: Market, By Platform, 2022–2030 (USD Million)
Table 73 Australia: Market, By Technology, 2022–2030 (USD Million)
Table 74 Australia: Market, By System, 2022–2030 (USD Million)
Table 75 Australia: Market, By Platform, 2022–2030 (USD Million)
Table 76 New Zealand: Market, By Technology, 2022–2030 (USD Million)
Table 77 New Zealand: Market, By System, 2022–2030 (USD Million)
Table 78 New Zealand: Market, By Platform, 2022–2030 (USD Million)
Table 79 South Korea: Market, By Technology, 2022–2030 (USD Million)
Table 80 South Korea: Market, By System, 2022–2030 (USD Million)
Table 81 South Korea: Market, By Platform, 2022–2030 (USD Million)
Table 82 Rest of Asia Pacific: Market, By Technology, 2022–2030 (USD Million)
Table 83 Rest of Asia Pacific: Market, By System, 2022-2030 (USD Million)
Table 84 Rest of Asia Pacific: Market, By Platform, 2022-2030 (USD Million)
Table 85 Middle East: Market, By Technology, 2022–2030 (USD Million)
Table 86 Middle East: Market, By System, 2022–2030 (USD Million)
Table 87 Middle East: Market, By Platform, 2022–2030 (USD Million)
Table 88 Middle East: Market, By Country, 2022–2030 (USD Million)
Table 89 Israel: Market, By Technology, 2022–2030 (USD Million)
Table 90 Israel: Market, By System, 2022–2030 (USD Million)
Table 91 Israel: Market, By Platform, 2022–2030 (USD Million)
Table 92 UAE: Market, By Technology, 2022–2030 (USD Million)
Table 93 UAE: Market, By System, 2022–2030 (USD Million)
Table 94 UAE: Market, By Platform, 2022–2030 (USD Million)
Table 95 Saudi Arabia: Market, By Technology, 2022–2030 (USD Million)
Table 96 Saudi Arabia: Market, By System, 2022—2030 (USD Million)
Table 97 Saudi Arabia: Market, By Platform, 2022–2030 (USD Million)
Table 98 Rest of the Middle East: Market, By Technology, 2022–2030 (USD Million)
Table 99 Rest of the Middle East: Market, By System, 2022–2030 (USD Million)
Table 100 Rest of the Middle East: Market, By Platform, 2022–2030 (USD Million)
Table 101 Latin America: Market, By Technology, 2022–2030 (USD Million)
Table 102 Latin America: Market, By System, 2022-2030 (USD Million)
Table 103 Latin America: Market, By Platform, 2022-2030 (USD Million)
Table 104 Latin America: Market, By Country, 2022–2030 (USD Million)
Table 105 Brazil: Market, By Technology, 2022–2030 (USD Million)
Table 106 Brazil: Market, By System, 2022–2030 (USD Million)
Table 107 Brazil: Market, By Platform, 2022–2030 (USD Million)
Table 108 Mexico: Market, By Technology, 2022–2030 (USD Million)
Table 109 Mexico: Market, By System, 2022–2030 (USD Million)
Table 110 Mexico: Market, By Platform, 2022–2030 (USD Million)
Table 111 Rest of Latin America: Market, By Technology, 2022–2030 (USD Million)
Table 112 Rest of Latin America: Market, By System, 2022–2030 (USD Million)
Table 113 Rest of Latin America: Market, By Platform, 2022–2030 (USD Million)
Table 114 New Product Launches, 2015-2019
Table 115 Contracts, 2015-2019
Table 116 Other Strategies, 2015—2019
Table 117 Honeywell International Inc.: SWOT Analysis
Table 118 Safran: SWOT Analysis
Table 119 Thales Group: SWOT Analysis
Table 120 United Technologies Corporation: SWOT Analysis
Table 121 GE Aviation: SWOT Analysis
 
 
List of Figures (46 Figures)
 
Figure 1 Aircraft Electrification Market Segmentation
Figure 2 Research Process Flow
Figure 3 Research Design
Figure 4 Research Methodology Sample
Figure 5 Market Size Estimation Methodology: Approach Bottom-Up
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation
Figure 8 Assumptions for the Research Study on the Aircraft Electrification Market
Figure 9 More Electric Aircraft Segment to Account for Largest Share of Aircraft Electrification Market in 2022
Figure 10 Generators Segment to Account for Largest Share of Aircraft Electrification Market in 2022
Figure 11 Power Distribution Segment to Account for Largest Share of Aircraft Electrification Market in 2022
Figure 12 Increasing Focus on Reducing Carbon Emissions and Aircraft Noise to Drive the Aircraft Electrification Market From 2022 to 2030
Figure 13 Propulsion System Segment to Lead the Aircraft Electrification Market By 2030
Figure 14 Commercial Aviation Segment Projected to Lead the Aircraft Electrification Market During the Forecast Period
Figure 15 Asia Pacific Projected to Grow at the Highest CAGR in the Aircraft Electrification Market During the Forecast Period
Figure 16 Market Dynamics of Aircraft Electrification Market
Figure 17 Operational Costs for Aircraft (Excluding Ownership Cost)
Figure 18 Common Lithium-Ion Batteries and Their Key Features
Figure 19 Aircraft Electrification Technology Roadmap
Figure 20 Futuristic Fuel Cell System in Airbus Aircraft
Figure 21 Hybrid Electric Segment is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 22 The Power Distribution Segment is Projected to Lead the Aircraft Electrification Market During the Forecast Period
Figure 23 Aircraft Systems Segment to Lead Aircraft Electrification Market in 2022
Figure 24 The Fuel Cells Segment is Projected to Grow at the Highest CAGR During the Forecast Period
Figure 25 Commercial Aviation Segment is Projected to Lead the Aircraft Electrification Market During the Forecast Period
Figure 26 Europe Estimated to Account for the Largest Share of Aircraft Electrification Market in 2022
Figure 27 North America Aircraft Electrification Market Snapshot
Figure 28 Europe Aircraft Electrification Market Snapshot
Figure 29 Asia Pacific Aircraft Electrification Market Snapshot
Figure 30 Key Developments By Leading Players in the Aircraft Electrification Market Between 2015 and 2020
Figure 31 Aircraft Electrification Market Competitive Leadership Mapping, 2020
Figure 32 Market Ranking of Top Players in the Aircraft Electrification Market, 2019
Figure 33 Honeywell International Inc.: Company Snapshot
Figure 34 Safran: Company Snapshot
Figure 35 Thales Group: Company Snapshot
Figure 36 United Technologies Corporation: Company Snapshot
Figure 37 GE Aviation: Company Snapshot
Figure 38 Raytheon Company: Company Snapshot
Figure 39 Ametek: Company Snapshot
Figure 40 Meggitt PLC: Company Snapshot
Figure 41 BAE Systems: Company Snapshot
Figure 42 Astronics Corporation: Company Snapshot
Figure 43 Esterline Technologies: Company Snapshot
Figure 44 Crane Aerospace & Electronics: Company Snapshot
Figure 45 Nabtesco Corporation: Company Snapshot
Figure 46 Carlisle Interconnect Technologies: Company Snapshot

The study involved four major activities in estimating the current market size for the aircraft electrification market. Exhaustive secondary research was undertaken to collect information on the market, the peer markets, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Secondary Research

In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg, BusinessWeek, and different magazines, were referred to identify and collect information for this study. Secondary sources also included annual reports, press releases & investor presentations of companies, certified publications, articles by recognized authors, and aircraft electrification databases.

Primary Research

The aircraft electrification market comprises several stakeholders, such as aircraft electric component providers, more electric, hybrid electric and fully electric aircraft manufacturers, and regulatory organizations in the supply chain. The demand side of this market is majorly characterized by electric aircraft manufacturers. The supply side is characterized by technology advancements in aircraft electric components. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents:

Aircraft Electrification Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the aircraft electrification market. These methods were also used extensively to estimate the size of various subsegments of the market. The research methodology used to estimate the market size includes the following:

  • Key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation process explained above—the market was split into several segments and subsegments. Data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment. The data was triangulated by studying various factors and trends from both the demand and supply sides of the aircraft electrification market in the aviation industry.

Report Objectives

  • To define, describe, segment, and forecast the size of the aircraft electrification market based on platform, technology, application, system, and component
  • To analyze the demand- and supply-side indicators influencing the growth of the market
  • To understand the market ecosystem by identifying high-growth segments and subsegments of the market
  • To provide in-depth market intelligence regarding key market dynamics, such as drivers, restraints, opportunities, and challenges that influence the growth of the market
  • To forecast the revenue of market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East
  • To analyze technological advancements and new product launches in the market
  • To provide a detailed competitive landscape of the market, in addition to market rank analysis of leading players
  • To identify financial positions, product portfolios, and key developments undertaken by leading players in the market
  • To analyze micromarkets with respect to their individual growth trends, prospects, and contribution to the overall market
  • To provide a comprehensive analysis of business and corporate strategies adopted by key market players
  • To profile key market players and comprehensively analyze their core competencies

Available Customizations

Along with the market data, MarketsandMarkets offers customizations according to a company’s specific needs.

Company Information

  • Detailed analysis and profiles of additional market players (up to five)
Report Code
AS 7520
Published ON
Feb, 2020
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