US More Electric Aircraft Market (2024-2029)
The US More Electric Aircraft Market was valued at $1553.2 Million in 2024 and projected to reach to $2231.5 Million by 2029, representing a compound annual growth rate of 7.5%. The US More Electric Aircraft Market is positioned for sustained growth as domestic aerospace manufacturers prioritize electrification to meet stringent environmental regulations and customer demand for sustainable aviation solutions.
| Market Size in | USD 26.32 MN |
| Market Forecast in | |
| CAGR | |
| Forecast Period | |
| Units Considered | Value (USD MN) |
US More Electric Aircraft Market Trends and Insights
- The US market is driven by increasing demand for fuel-efficient aircraft and regulatory pressures to reduce emissions across the aerospace sector.
- In 2024, the US represents a significant portion of North American aerospace innovation, with major manufacturers and suppliers investing heavily in electrification technologies. By 2029, the US More Electric Aircraft Market is expected to grow at a compound annual growth rate of 7.5%, reflecting strong momentum in aircraft modernization and next-generation platform development.
- The US aerospace industry is leveraging advanced power distribution systems, electric propulsion components, and integrated avionics to enhance aircraft performance and sustainability.
- This expansion is supported by government initiatives, defense spending, and commercial aviation's commitment to decarbonization targets throughout the forecast period..
Key Market Statistics
- CAGR (2024-2029) 7.5% CAGR
- Market Size, 2024 ~USD 1553.2 Million
- Forecast, 2029 ~USD 2231.5 Million
- Country US
US More Electric Aircraft Market Overview
Market Valuation :
The US More Electric Aircraft Market is valued at $1,553.2 million in 2024, with strong growth trajectory reaching $2,231.5 million by 2029, representing a 7.5% CAGR.
Regulatory Drivers :
US regulatory pressures to reduce aviation emissions and improve fuel efficiency are accelerating adoption of more electric aircraft technologies across domestic aerospace manufacturers and operators.
Innovation Hub :
The US aerospace sector leads North American innovation in electric propulsion systems, power distribution, and thermal management technologies for commercial and military aircraft platforms.
Growth Momentum :
Sustained investment from major US OEMs and government initiatives supporting sustainable aviation fuel and electrification technologies are propelling market expansion through 2029.
US More Electric Aircraft Market Dynamics
- Major US-based OEMs are investing heavily in electric propulsion systems, advanced power electronics, and energy management solutions to reduce aircraft weight and operational costs.
- Government support through research grants and certification pathways is accelerating technology maturation and commercialization timelines. By 2029, the US market will benefit from increased fleet modernization initiatives, rising fuel costs incentivizing efficiency improvements, and growing consumer preference for environmentally responsible air travel.
- The competitive landscape will intensify as established aerospace suppliers and emerging electric propulsion startups vie for market share, driving innovation and cost reduction across more electric aircraft systems and components..
Related Ecosystem
Airport Systems
- Antennas
- Sensors
- Aeronautical Information Management (AIM)
- Digital Signage
- Face Recognition
- SYSTRA LTD.
- Thales group
- Idaho Strategic Resources, Inc.
- HONEYWELL INTERNATIONAL INC.
- Leidos Holdings, Inc.
Aviation
- Narrow Body Aircraft
- Wide Body Aircraft
- Military Helicopters
- Special Mission Aircraft
- Fighter Aircraft
- HONEYWELL INTERNATIONAL INC.
- COLLINS AEROSPACE
- Thales group
- Safran group
- HEICO Corporation
Defence Platforms And Systems
- Sensors
- Unmanned Ground Vehicles (UGV)
- Fighter Aircraft
- Special Mission Aircraft
- Antennas
- BAE Systems plc
- Thales group
- LOCKHEED MARTIN CORPORATION
- Northrop Grumman Corporation
- L3Harris Technologies, Inc.
Key Takeaways
- The US More Electric Aircraft Market is valued at $1,553.2 million in 2024 and will reach $2,231.5 million by 2029, growing at 7.5% CAGR.
- The US market is driven by fuel efficiency demands, emissions regulations, and modernization of both commercial and defense aircraft platforms.
- The US aerospace industry is investing in advanced power distribution, electric propulsion, and integrated avionics technologies to support electrification.
- Government support, defense spending, and commercial aviation sustainability commitments are key growth catalysts for the US market through 2029.
More Electric Aircraft Market Report Scope
| Report Metric | Details |
|---|---|
| Base Year | 2024 |
| Fastest Growing Segment | ROTARY-WING (Platform) |
| Forecast Period | 2024–2029 |
| Growth Rate | CAGR of 7.6% from 2024 to 2029 |
| Largest Segment | FIXED-WING (Platform) |
| Market Size Base Year (Billions) | ~USD 5.55 (2024) |
| Revenue Forecast (Billions) | ~USD 8.01 (2029) |
| Segments Covered | End User, Application, Platform, System, Type, Component |
US More Electric Aircraft Market Report Segmentation
6 segment dimensions are covered across the global market.
By End User
- Civil
- Military
By Application
- Energy Storage
- Power Conversion
- Power Distribution
- Power Generation
By Platform
- Fighter Jets
- Fixed-Wing
- Fixed–Wing
- Narrow-Body Aircraft
- Regional Aircraft
- Rotary-Wing
- Rotary–Wing
- Wide-Body Aircraft
By System
- Aircraft System
- Aircraft Systems
- Airframe Systems
- Propulsion Systems
By Type
- Accessory Drive Systems
- Busbars
- Cabin Interior Systems
- Connectors & Connector Accessories
- Electric
- Electrical Backup Hydraulic Actuators (Ebha)
- Electro-Hydrostatic Actuators (Eha)
- Electro-Mechanical Actuators (Ema)
- Environmental Control Systems
- Flight Control System
- Flight Control Systems
- Fuel Management Systems
- Hybrid Electric
- Inverters
- Landing Gear Systems
- Power Converters
- Power Management Systems
- Rectifiers
- Thrust Reverser Systems
- Wires & Cables
By Component
- Actuators
- Auxiliary Power Units (Apu)
- Distribution Devices
- Electric Pumps
- Generators
- Power Electroincs
- Power Electronics
- Power Sources
- Starter Generators
- Valves
- Vscf Generators
Target Audience
- Aerospace OEMs : US-based aircraft manufacturers need market intelligence to guide electrification roadmaps, allocate R&D budgets, and assess competitive threats in the rapidly evolving more electric aircraft segment.
- Tier-1 & Tier-2 Suppliers : Component and systems suppliers require US market data to identify growth opportunities, develop product portfolios aligned with OEM requirements, and secure contracts in the expanding electric aircraft supply chain.
- Investment & Private Equity Firms : Investors evaluating aerospace technology companies need US market sizing and growth forecasts to assess investment returns, identify acquisition targets, and understand sector dynamics and consolidation trends.
- Government & Policy Makers : US federal and state agencies require market intelligence to inform aviation policy, allocate research funding, and develop regulatory frameworks supporting sustainable aircraft electrification goals.
- Airlines & Fleet Operators : US carriers need market insights on electric aircraft availability, technology maturity, and total cost of ownership to evaluate fleet modernization strategies and sustainability commitments.
Key Companies in the US More Electric Aircraft Market
| Company | HQ | Ownership | Strongest segments |
|---|---|---|---|
| ARROW ELECTRONICS, INC | United States | Public Company | Semiconductor products and related services,Interconnect, passive, and electromechanical (IP&E) components,Computing and memory products, |
| NOLATO | Sweden | Public Company | Medical devices and components (catheters, breathing bags, silicone parts),Primary pharma packaging and drug-delivery plastics,Labware and TreffLab consumables, |
| ROCKWELL COLLINS INC | United States | Private Company | Commercial Systems (avionics and cabin management),Interior Systems (seating, galleys, cabin equipment),Government Systems (avionics, EW, targeting, navigation), |
| AVNET | United States | Public Company | Semiconductors,Interconnect, Passive, and Electromechanical (IP&E) Components,Embedded Solutions and Boards, |
| CYIENT | India | Public Company | Digital, Engineering & Technology,Design Led Manufacturing,Others (Networks, Operations, and Specialized Platforms), |
| SAFRAN S.A. | France | Public Company | Aerospace Propulsion,Aircraft Equipment, Defense and Aerosystems,Aircraft Interiors, |
| HONEYWELL INTERNATIONAL, INC. | United States | Public Company | Industrial Automation,Building Automation,Energy and Sustainability Solutions (UOP and related), |
| RTX | United States | Public Company | Collins Aerospace (avionics, interiors, mission systems, aftermarket),Pratt & Whitney (commercial and military engines, APU, MRO),Raytheon (sensors, effectors, mission software, space), |
| GENERAL ELECTRIC | United States | Public Company | Commercial Engines & Services,Defense & Propulsion Technologies, |
| PARKER HANNIFIN CORPORATION | United States | Public Company | Industrial motion and control systems (hydraulic, pneumatic, electromechanical),Filtration, fluid conveyance, and thermal management,Sealing, adhesives, and EMI shielding, |
| BAE SYSTEMS PLC | United Kingdom | Public Company | Air (combat aircraft, future combat air systems, support),Electronic Systems (EW, avionics, sensors, space electronics),Maritime (submarines, shipbuilding, support), |
| BOMBARDIER INC. | Canada | Public Company | New business aircraft,Aftermarket services (parts, service centers, smart services),Training and technical publications, |
| EMBRAER S.A. | Brazil | Public Company | Commercial Aviation (E-Jets/E2 family),Executive Aviation,Defense & Security, |
| LIEBHERR | Switzerland | Private Company | Earthmoving and Mining Equipment,Mobile, Crawler, and Tower Cranes,Material Handling and Maritime Cranes, |
| AMETEK, INC. | United States | Public Company | Process and analytical instruments (oil & gas, petrochemical, pharma, semiconductor, automation, F&B),Aerospace and defense sensors, embedded computing, power, and MRO,Power quality, metering, programmable power, EMC test equipment, |
| NABTESCO CORPORATION | Japan | Public Company | Precision reduction gears and motion-control components for industrial robots,Hydraulic equipment for construction and mobile machinery,Railway vehicle brake systems and door operators, |
| MOOG INC. | United States | Public Company | Military Aircraft,Commercial Aircraft,Space and Defense, |
| ASTRONICS CORPORATION | United States | Public Company | Aerospace – Lighting & Safety Systems,Aerospace – Electrical Power Generation & Distribution,Aerospace – Structures, Avionics & Certification Services, |
| ROLLS-ROYCE PLC | United Kingdom | Public Company | Civil Aerospace engines & services,Defence aero, naval & nuclear power,Power Systems (mtu power & propulsion), |
| EATON | Ireland | Public Company | Electrical components, power distribution, and power quality,Aerospace systems and components,Hydraulics and industrial systems, |
ARROW ELECTRONICS, INC
Arrow Electronics, Inc. is a publicly traded American electronics distributor founded in 1935, employing 22,230 people. The company serves as a major supplier of electronic components and services to customers worldwide.
NOLATO
Nolato is a Swedish public company established in 1938 with 5,607 employees, operating in the manufacturing and materials processing sectors.
ROCKWELL COLLINS INC
Rockwell Collins Inc. is a privately held American aerospace and defense company founded in 1933, employing 31,200 people in the design and manufacture of avionics and communication systems.
AVNET
Avnet is a publicly traded American technology distributor founded in 1921, with 14,869 employees providing IT solutions and supply chain services globally.
CYIENT
Cyient is an Indian public company founded in 1991 with 12,049 employees, offering engineering, design, and technology services across multiple industries.
SAFRAN S.A.
Safran S.A. is a French multinational public company founded in 1896 with 103,710 employees, specializing in aerospace, defense, and security technologies.
HONEYWELL INTERNATIONAL, INC.
Honeywell International, Inc. is a publicly traded American conglomerate founded in 1885 with 101,000 employees, operating across aerospace, building technologies, performance materials, and safety solutions.
RTX
RTX is a publicly traded American aerospace and defense company founded in 1934 with 180,000 employees, providing advanced technologies and systems for commercial and military applications.
GENERAL ELECTRIC
General Electric is a publicly traded American multinational conglomerate founded in 1892 with 57,000 employees, operating across power, renewable energy, aviation, and healthcare sectors.
PARKER HANNIFIN CORPORATION
Parker Hannifin Corporation is a publicly traded American manufacturer founded in 1917 with 57,950 employees, specializing in motion and control technologies for industrial and aerospace applications.
BAE SYSTEMS PLC
BAE Systems PLC is a publicly traded British multinational defense company founded in 1979 with 111,400 employees, providing advanced defense and security solutions globally.
BOMBARDIER INC.
Bombardier Inc. is a publicly traded Canadian company founded in 1902 with 18,000 employees, manufacturing business jets, commercial aircraft, and rail transportation equipment.
EMBRAER S.A.
Embraer S.A. is a publicly traded Brazilian aerospace company founded in 1969 with 21,122 employees, specializing in the design, development, and manufacture of commercial and military aircraft.
LIEBHERR
Liebherr is a privately held Swiss company founded in 1949 with 54,609 employees, manufacturing construction equipment, mining equipment, and aerospace components.
AMETEK, INC.
AMETEK, Inc. is a publicly traded American manufacturer founded in 1930 with 22,500 employees, producing electronic instruments and electromechanical devices for industrial and aerospace markets.
NABTESCO CORPORATION
Nabtesco Corporation is a publicly traded Japanese company founded in 2003 with 8,472 employees, specializing in precision equipment and control systems for aerospace and industrial applications.
MOOG INC.
Moog Inc. is a publicly traded American company founded in 1951 with 13,500 employees, designing and manufacturing precision motion and control systems for aerospace and defense industries.
ASTRONICS CORPORATION
Astronics Corporation is a publicly traded American company founded in 1968 with 2,700 employees, providing advanced technologies and systems for the aerospace and defense sectors.
ROLLS-ROYCE PLC
Rolls-Royce PLC is a publicly traded British company founded in 1884 with 43,162 employees, specializing in the design and manufacture of gas turbines and propulsion systems for aerospace and defense.
EATON
Eaton is a publicly traded company headquartered in Ireland and founded in 1911 with 97,303 employees, providing power management solutions and diversified industrial products globally.
Reasons to Buy this Report
- Market Size & Growth Data : Access precise US market valuation ($1,553.2M in 2024) and 5-year forecast projections with 7.5% CAGR to support strategic planning and investment decisions in the American aerospace sector.
- Competitive Landscape Intelligence : Identify major US OEMs, suppliers, and emerging players in more electric aircraft technologies to benchmark competitive positioning and partnership opportunities within the domestic market.
- Regulatory & Policy Insights : Understand US-specific regulatory drivers, certification requirements, and government incentives shaping market adoption of electric aircraft technologies and influencing investment priorities.
- Technology Trend Analysis : Gain detailed insights into US aerospace innovation in power distribution, thermal management, and propulsion systems to identify emerging technologies and R&D investment opportunities.
- Market Entry & Expansion Strategy : Leverage US-focused market data to develop targeted go-to-market strategies, identify customer segments, and assess market entry barriers for new products and services in the American aerospace ecosystem.
Frequently asked questions
What is the current size of the US More Electric Aircraft Market?
The US More Electric Aircraft Market was valued at $1,553.2 million in 2024 and is projected to grow to $2,231.5 million by 2029.
What is the growth rate of the US More Electric Aircraft Market?
The US More Electric Aircraft Market is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2029.
What are the main drivers of growth in the US More Electric Aircraft Market?
Key drivers include fuel efficiency requirements, environmental regulations, aircraft modernization initiatives, defense spending, and commercial aviation's sustainability commitments.
Which technologies are being adopted in the US More Electric Aircraft Market?
The US market is adopting advanced power distribution systems, electric propulsion components, integrated avionics, and energy management systems to enhance aircraft performance.
How does the US market compare to the global More Electric Aircraft Market?
The US market, growing at 7.5% CAGR, is closely aligned with the global market growth rate of 7.6%, reflecting the US's leadership in aerospace innovation and electrification.
RESEARCH METHODOLOGY
This research study on the more electric aircraft market involved the extensive use of secondary sources, directories, and databases such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva to identify and collect information relevant to the market. Primary sources considered included industry experts, service providers, manufacturers, solution providers, technology developers, alliances, and organizations related to all segments of this industry's value chain. In-depth interviews with various primary respondents, including key industry participants, subject matter experts (SMEs), industry consultants, and C-level executives, were conducted to obtain and verify critical qualitative and quantitative information about the market and assess its growth prospects.
Secondary Research
The ranking analysis of companies in the more electric aircraft market was determined using secondary data from paid and unpaid sources and analyzing the product portfolios and service offerings of major companies operating in the market. These companies were rated based on the performance and quality of their products. Primary sources further validated these data points.
Secondary sources for this research study included financial statements of companies offering aircraft electric components for all technology stages, such as more electric aircraft, hybrid electric aircraft, and fully electric aircraft, along with various trade, business, and professional associations. The secondary data was collected and analyzed to determine the market's overall size, which primary respondents validated.
Primary Research
Through secondary research, extensive primary research was conducted after obtaining information about the more electric aircraft market's current scenario. Several primary interviews were conducted with market experts from both the demand and supply sides across five regions: North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. This primary data was collected through questionnaires, emails, and telephonic interviews.
Note: C-level Executives include the CEO, COO, and CTO, among others.
*Others include Sales Managers, Marketing Managers, and Product Managers.
The tiers of the companies have been defined based on their total revenue as of 2022.
Tier 1 = > USD 1 billion, Tier 2 = USD 100 million to USD 1 billion, and Tier 3 = < USD 100 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The top-down and bottom-up approaches have been used to estimate and validate the more electric aircraft market size. The following figure in this subsection represents the overall market size estimation process employed for this study.
The research methodology used to estimate the market size also includes the following details:
- Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. This included a study of annual and financial reports of the top market players and extensive interviews with leaders, including CEOs, directors, and marketing executives.
- All percentage shares split and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
This data has been consolidated, added with detailed inputs, analyzed by MarketsandMarkets, and presented in this report.
In the top-down approach, the overall market size has been used to estimate the size of individual subsegments (mentioned in the market segmentation) through percentage splits acquired from secondary and primary research. For the calculation of specific market segments, the most appropriate immediate parent market size has been used to implement the top-down approach. The bottom-up approach has been implemented to validate the market segment revenues obtained.
Market shares have been estimated for each company to verify the revenue shares used earlier in the bottom-up approach. With data triangulation and validation of data through primaries, the overall parent market size and each market size have been determined and confirmed in this study. The data triangulation used for this study is explained in the next section.
Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market has been split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics for market segments and subsegments, data triangulation and market breakdown procedures explained below have been implemented, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides. Additionally, the market size has been validated using both top-down and bottom-up approaches.
Market Definition
More electric aircraft (MEA) is a concept that involves the use of electric power (as opposed to pneumatic and hydraulic sources of power) for all non-propulsive systems in an aircraft. The use of electric power helps reduce the overall weight, fuel consumption, and greenhouse emissions of an aircraft. Electrical systems also help cut down the assembly and maintenance costs of aircraft and facilitate faster manufacturing.
Stakeholders
- Airport developers
- Software developers
- Research bodies.
- Governmental bodies
- More electric aircraft system manufacturers
- More electric aircraft regulators
- Investors and financial community professionals
- Ministry of Defense of relevant nations
- Technology support providers
- Software/hardware/service and solution providers
Report Objectives
- To define, describe, segment, and forecast the size of the more electric aircraft market based on system, component, application, platform, end user, and region.
- To forecast the size of various segments of the market with respect to five major regions, namely North America, Europe, Asia Pacific, Middle East & Africa, and Latin America, along with major countries in each of these regions.
- To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe.
- To identify industry trends, market trends, and technology trends currently prevailing in the market.
- To provide an overview of the regulatory landscape with respect to more electric aircraft regulations across regions
- To analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To analyze opportunities in the market for stakeholders by identifying key market trends
- To profile key market players and comprehensively analyze their market share and core competencies2.
- To analyze the degree of competition in the market by identifying key growth strategies, such as, agreements, acquisitions, contracts, and partnerships, adopted by leading market players.
- To identify detailed financial positions, key products, and unique selling points of leading companies in the market
- To provide a detailed competitive landscape of the market, along with market ranking analysis, market share analysis, and revenue analysis of key players
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