Electric Aircraft Market by Aircraft Type (Ultralight Aircraft, Light Jet), Component (Battery, Electric Motor), Technology (Hybrid and All Electric), Range (Less than 500 Km and More than 500 Km), and Region - Global Forecast to 2023
The electric aircraft market was valued at USD 96.3 Million in 2017 and is projected to reach USD 121.8 Million by 2023, at a CAGR of 4.17% during the forecast period. The objectives of this study are to analyze the market, along with the provision of its statistics. It also aims to define, describe, and forecast the electric aircraft market on the basis of the aircraft type, technology, component, range, and region. The year 2017 has been considered the base year for this study, whereas 2018 to 2023 is considered as the forecast period.
The research methodology that has been used to estimate and forecast the electric aircraft market begins with capturing data on the revenues of the key electric aircraft players through secondary sources, such as International Air Transport Association (IATA), Department of Defense (DoD), and paid databases. The electric aircraft offerings are also taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the market from the revenue of key players in the market. After arriving at the overall market size, the total market has been split into several segments and subsegments, which have then been verified through primary research by conducting extensive interviews with key experts such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives of the leading companies operating in the electric aircraft market. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The breakdown of profiles of primaries has been depicted in the figure below:
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The electric aircraft ecosystem comprises electric aircraft system providers, such as Zunum Aero (US), Yuneec International (China), PC Aero (Germany), Pipistrel (Italy), Eviation Aircraft (Israel) Lilium (Germany), Schempp-Hirth (Germany), Volta-Volaré (US), Bye Aerospace (US) and Electric Aircraft Corporation (US) among others, and the innovators of different types of electric aircraft, such as DeLorean Aerospace (US), Joby Aviation (US), Siemens (Germany), and Evektor (Czech Republic).
Target Audience for this Report:
- Manufacturers of Electric aircraft
- Providers or Suppliers of Electric Aircraft Parts
- Manufacturers of Sub-Components
- Retailers, Distributors, and Wholesalers of Electric Aircraft
- Technology Support Providers
- Manufacturers of Defense Components
- Manufacturers of Aerospace Components
- System Integrators
- Governmental Bodies
“This study on the electric aircraft market answers several questions for stakeholders, primarily which market segments they need to focus upon during the next two to five years to prioritize their efforts and investments.”
Scope of the Report
This research report categorizes the electric aircraft market into the following segments:
- by Aircraft Type
- Ultralight Aircraft
- Light Jet
- by Component
- Battery
- Electric Motor
- Others
- by Technology
- Hybrid
- All Electric
- by Power Density
- Less than 500 KM
- More than 500 KM
- by Region
- North America
- Europe
- Asia Pacific
- Rest of the World
Available Customizations
Along with the market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report on the market:
- Regional Analysis
- Further breakdown of the Rest of the World electric aircraft market
- Company Information
- Detailed analysis and profiles of additional market players (up to 5)
The electric aircraft market is projected to grow from USD 99.3 Million in 2018 to USD 121.8 Million by 2023, at a CAGR of 4.17% from 2018 to 2023. Low cost of ownership of electric aircraft and advantages of electric aircraft traditional aircraft are driving the market. The electric aircraft market has been segmented based on aircraft type, component, technology, range, and region.
Based on the aircraft type, this market has been segmented into ultralight aircraft and light jet. The ultralight aircraft segment is expected to lead the market in 2018. The ownership of ultralight aircraft is cost-effective due to the simplistic design and construction of these aircraft. With the increase in fuel prices, the demand for ultralight aircraft is expected to increase for training purposes.
Based on the component, this market has been segmented into battery, electric motor, and others. The others segment include electric ducted fans and power electronics. Power electronics are used to power all crucial aircraft components, including flight control actuation, environmental control systems, utility functions, and cabin pressurization, which were conventionally controlled by hydraulic and pneumatic means. Electric ducted fans use multiple propeller blades attached to a single electric motor in an aircraft.
Based on technology, the electric aircraft market has been segmented into hybrid and all electric. The all electric segment of the market is projected to lead during the forecast period. The trend for the all-electric aircraft is growing over the forecast period as aircraft OEMs collaborate with their suppliers to design new systems that hybridize traditional propulsion systems and implement new electrical-intensive architectures.
Based on region, the electric aircraft market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe is expected to lead the market in 2018, the aircraft and its component industry in Europe is aiming to use new advanced materials, such as gamma-titanium aluminides and single crystals, with improved mechanical properties, these advanced engines help aircraft reduce its fuel consumption, carbon emissions and noise, among others.
The significant investment incurred in the development of different types of electric aircraft is a major factor restraining the growth of the market across the globe. Significant investments are required at different stages of the value chain of the electric aircraft industry (especially in R&D, manufacturing, system integration, and assembly stages).
Products offered by various companies operating in the electric aircraft market are listed in the report. The recent developments section of the report provides information on the strategies adopted by various companies between November 2011 and October 2018 to strengthen their positions in the market. Major players in the electric aircraft market include Zunum Aero (US), Yuneec International (China), PC Aero (Germany), Pipistrel (Italy), Eviation Aircraft (Israel) Lilium (Germany), Schempp-Hirth (Germany), Volta-Volaré (US), Bye Aerospace (US) and Electric Aircraft Corporation (US) among others. These companies have significant geographic reach and distribution channels.
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Table of Contents
1 Introduction (Page No. - 13)
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 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primaries
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions
3 Executive Summary (Page No. - 26)
4 Premium Insights (Page No. - 30)
4.1 Attractive Opportunities in Electric Aircraft Market, 2018-2023
4.2 By Aircraft Type
4.3 By Range
4.4 By Component
4.5 Europe Electric Aircraft Market, By Technology and By Country
5 Market Overview (Page No. - 33)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Lower Cost of Ownership of Electric Aircraft
5.2.1.2 Advantages of Electric Aircraft Over Traditional Aircraft
5.2.2 Opportunities
5.2.2.1 Need to Develop High-Density Battery Solutions for Electric Aircraft
5.2.3 Challenges
5.2.3.1 Electrification of Large Commercial Jets
6 Industrial Trends (Page No. - 36)
6.1 Introduction
6.2 Upcoming Technologies in Electric Aircraft Market
6.2.1 Fuel Cell Technology
6.2.2 Advanced Battery Materials for Electric Aircraft
6.2.3 Leading Edge Asynchronous Propeller Technology (Leaptech)
6.2.4 Air Taxis for Sustainable Transportation
6.3 Infrastructure Solutions
6.3.1 Wireless Power Transmission
6.3.2 Back-Up Battery System
6.4 Electrical Propulsion Aircraft Design
6.4.1 Hybrid Electric Propulsion System Design
6.4.2 All Electric Propulsion System Design
6.5 Adoption of Electrical Systems By Varied Aircraft Type
6.6 New Electrical Aircraft Platforms
7 By Aircraft Type (Page No. - 42)
7.1 Introduction
7.2 Ultralight Aircraft
7.3 Light Jet
8 By Component (Page No. - 46)
8.1 Introduction
8.2 Aircraft Battery
8.3 Aircraft Electric Motor
8.4 Others
9 By Technology (Page No. - 51)
9.1 Introduction
9.2 Hybrid Aircraft
9.2.1 Solar-Powered Aircraft
9.2.2 Fuel-Powered Aircraft
9.3 All Electric Aircraft
10 By Range (Page No. - 55)
10.1 Introduction
10.2 Less Than 500 Km
10.3 More Than 500 Km
11 Regional Analysis (Page No. - 58)
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.3 Europe
11.3.1 UK
11.3.2 France
11.3.3 Norway
11.3.4 Rest of Europe
11.4 Asia Pacific
11.4.1 Australia
11.4.2 China
11.4.3 New Zealand
11.4.4 Rest of Asia Pacific
11.5 Rest of the World
11.5.1 Middle East
11.5.2 Latin America
12 Competitive Landscape (Page No. - 80)
12.1 Introduction
12.2 Market Ranking Analysis
12.3 Competitive Scenario
12.3.1 Contracts
12.3.2 New Product Developments
12.3.3 Agreements & Collaborations
13 Company Profile (Page No. - 84)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
13.1 Zunum Aero
13.2 Yuneec International
13.3 PC Aero
13.4 Pipistrel
13.5 Eviation Aircraft
13.6 Lilium
13.7 Alisport SRL
13.8 Schempp-Hirth
13.9 Bye Aerospace
13.10 Digisky
13.11 Electric Aircraft
13.12 Volta Volare
13.13 Hamilton Aero
13.14 Electravia
13.15 Wright Electric
13.16 Aurora (A Boeing Company)
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
13.17 Innovators
13.17.1 Delorean Aerospace
13.17.2 Joby Aviation
13.17.3 Poweroasis
13.17.4 Synergy Aircraft
13.17.5 Zee Aero
13.17.6 Airbus
13.17.7 Embraer
13.17.8 Cessna Aircraft (Textron Aviation)
13.17.9 Airspacex (Detroit Aircraft Corporation)
13.17.10 Evektor
13.17.11 Siemens
14 Appendix (Page No. - 104)
14.1 Discussion Guide
14.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
14.3 Introducing RT: Real-Time Market Intelligence
14.4 Available Customization
14.5 Related Reports
14.6 Author Details
List of Tables (66 Tables)
Table 1 Types of Advanced Aircraft Batteries
Table 2 By Aircraft Type, 2016-2023 (USD Million)
Table 3 Ultralight Electric Aircraft Market, By Region, 2016-2023 (USD Million)
Table 4 Light Jet Electric Aircraft Market, By Region, 2016-2023 (USD Million)
Table 5 By Component, 2016-2023 (USD Million)
Table 6 Electric Aircraft Battery Market, By Region, 2016–2023 (USD Million)
Table 7 Electric Aircraft Battery Market, By Power Density, 2016-2023 (USD Million)
Table 8 Electric Aircraft Electric Motor Market, By Region, 2016–2023 (USD Million)
Table 9 Electric Aircraft Electric Motor Market, By Power Density, 2016–2023 (USD Million)
Table 10 Electric Aircraft Others Market, By Region, 2016-2023 (USD Million)
Table 11 By Technology, 2016-2023 (USD Million)
Table 12 Hybrid Market, By Region, 2016-2023 (USD Million)
Table 13 Hybrid Market, By Power Source, 2016-2023 (USD Million)
Table 14 All Electric Aircraft Market, By Region, 2016-2023 (USD Million)
Table 15 By Range, 2016-2023 (USD Million)
Table 16 Less Than 500 Km Electric Aircraft Market, By Region, 2016–2023 (USD Million)
Table 17 More Than 500 Km Electric Aircraft Market, By Region, 2016–2023 (USD Million)
Table 18 Market Size, By Region, 2016-2023 (USD Million)
Table 19 North America Market, By Aircraft Type, 2016-2023 (USD Million)
Table 20 North America Market, By Component, 2016-2023 (USD Million)
Table 21 North America Market Size, By Technology, 2016-2023 (USD Million)
Table 22 North America Market, By Range, 2016-2023 (USD Million)
Table 23 North America: Market, By Country, 2015-2022 (USD Million)
Table 24 US Market, By Aircraft Type, 2016-2023 (USD Million)
Table 25 US Market, By Technology, 2016-2023 (USD Million)
Table 26 Canada Market, By Aircraft Type, 2016-2023 (USD Million)
Table 27 Canada Market, By Technology, 2016-2023 (USD Million)
Table 28 Europe Market, By Aircraft Type, 2016-2023 (USD Million)
Table 29 Europe Market, By Component, 2016-2023 (USD Million)
Table 30 Europe Market, By Technology, 2016-2023 (USD Million)
Table 31 Europe Market, By Range, 2016-2023 (USD Million)
Table 32 Europe Electric Aircraft, By Country, 2016-2023 (USD Million)
Table 33 UK Market, By Aircraft Type, 2016-2023 (USD Million)
Table 34 UK Market, By Technology, 2016-2023 (USD Million)
Table 35 France Market, By Aircraft Type, 2016-2023 (USD Million)
Table 36 France Market, By Technology, 2016-2023 (USD Million)
Table 37 Norway Market, By Aircraft Type, 2016-2023 (USD Million)
Table 38 Norway Market, By Technology, 2016-2023 (USD Million)
Table 39 Rest of Europe Market, By Aircraft Type, 2016-2023 (USD Million)
Table 40 Rest of Europe Market, By Technology, 2016-2023 (USD Million)
Table 41 Asia Pacific Market, By Aircraft Type, 2016-2023 (USD Million)
Table 42 Asia Pacific Market, By Component, 2016–2023 (USD Million)
Table 43 Asia Pacific Market, By Technology, 2016-2023 (USD Million)
Table 44 Asia Pacific Market, By Range, 2016-2023 (USD Million)
Table 45 Asia Pacific Electric Aircraft, By Country, 2016-2023 (USD Million)
Table 46 Australia Market, By Aircraft Type, 2016-2023 (USD Million)
Table 47 Australia Market, By Technology, 2016-2023 (USD Million)
Table 48 China Market, By Aircraft Type, 2016-2023 (USD Million)
Table 49 China Market, By Technology, 2016-2023 (USD Million)
Table 50 New Zealand Market, By Aircraft Type, 2016-2023 (USD Million)
Table 51 New Zealand Market, By Technology, 2016-2023 (USD Million)
Table 52 Rest of Asia Pacific Market, By Aircraft Type, 2016-2023 (USD Million)
Table 53 Rest of Asia Pacific Market, By Technology, 2016–2023 (USD Million)
Table 54 Rest of the World Market, By Aircraft Type, 2016–2023 (USD Million)
Table 55 Rest of the World Market, By Component, 2016–2023 (USD Million)
Table 56 Rest of the World Market, By Technology, 2016–2023 (USD Million)
Table 57 Rest of the World Market, By Range, 2016–2023 (USD Million)
Table 58 Rest of the World Electric Aircraft, By Region, 2016–2023 (USD Million)
Table 59 Middle East Market, By Aircraft Type, 2016–2023 (USD Million)
Table 60 Middle East Market, By Technology, 2016–2023 (USD Million)
Table 61 Latin America Market, By Aircraft Type, 2016–2023 (USD Million)
Table 62 Latin America Market, By Technology, 2016–2023 (USD Million)
Table 63 Ranking of Players in the Market
Table 64 Contracts, 2010-2018
Table 65 New Product Developments, 2011–2018
Table 66 Agreements & Collaborations, 2016–2017
List of Figures (30 Figures)
Figure 1 Research Process Flow
Figure 2 Research Design: Electric Aircraft Market
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Geographic Analysis: Electric Aircraft Market
Figure 8 Market Size, By Aircraft Type, 2018 & 2023 (USD Million)
Figure 9 Market Size, By Component, 2018 & 2023 (USD Million)
Figure 10 Market Size, By Technology, 2018 & 2023 (USD Million)
Figure 11 Market Size, By Range, 2018 & 2023 (USD Million)
Figure 12 Lower Cost of Ownership of Electric Aircraft is One of the Major Drivers of the Electric Aircraft Market
Figure 13 All Electric Segment Projected to Lead Market During Forecast Period
Figure 14 Less Than 500 Km Segment Projected to Lead Market During Forecast Period
Figure 15 Other Component Segment in the Market Expected to Account for Largest Market Share During Forecast Period
Figure 16 In 2018, All Electric Segment Expected to Lead the Electric Aircraft Market in Europe
Figure 17 Electric Aircraft Market: Drivers, Restraints, Opportunities & Challenges
Figure 18 Average Breakup of Direct Operating Cost for Airlines (Excluding Ownership)
Figure 19 Futuristic Fuel Cell System in Airbus Aircraft
Figure 20 Hybrid Electric Propulsion System Architecture
Figure 21 All Electric Propulsion System Architecture
Figure 22 By Aircraft Type, 2018 & 2023 (USD Million)
Figure 23 By Component, 2018 & 2023 (USD Million)
Figure 24 By Aircraft Type, 2018 & 2023 (USD Million)
Figure 25 By Range, 2018 & 2023 (USD Million)
Figure 26 Europe Estimated to Account for the Largest Share of the Market in 2018
Figure 27 North America Market Snapshot
Figure 28 Europe Market Snapshot
Figure 29 Asia Pacific Market Snapshot
Figure 30 Companies Adopted Contracts as A Key Growth Strategy From 2010 to 2018
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