HOME Research Insight Bye Aerospace (US) and Pipistrel (Italy) are the Major Player in the Electric Aircraft Market

Bye Aerospace (US) and Pipistrel (Italy) are the Major Player in the Electric Aircraft Market

Electric aircraft is an aircraft powered by electric motors. Electric aircraft are installed with various components, such as batteries, ground power cables, solar cells, ultra-capacitors, and fuel cells. The electric aircraft market is projected to grow from an estimated USD 99.3 Million in 2018 to USD 121.8 Million by 2023, at a CAGR of 4.17% from 2018 to 2023. The electric aircraft market in North America is growing at a significant pace during the forecast period. Rising demand for unmanned aerial vehicles and innovative military jets from the military sector is expected to drive the electric aircraft market in North America during the forecast period.

Zunum Aero (US), Bye Aerospace (US), and Electric Aircraft Corporation (US), Hamilton Aero (US), Wright Electric (US) are key players operating in the electric aircraft market. These market players have been focusing on securing contracts to ensure organic growth in the electric aircraft market. The core competencies of these market players include their widespread geographical presence and increased investments in R&D activities.

Bye Aerospace (US) is a major player in the electric aircraft market. Bye Aerospace (US) is one of the leading companies involved in developing and designing solar-electric Unmanned Aerial Vehicle (UAV) for commercial purposes. The company believes in establishing their brand identity through a commitment to reliability and efficiency of products and processes to achieve maximum customer satisfaction. For instance, Bye Aerospace developed 4-seat Sun Flyer aircraft & Sun Flyer 4 electric trainer aircraft in 2017 with features of low operating cost, low aircraft unit cost, and low noise.

Pipistrel (Italy) is another major player in the electric aircraft market. The company focuses on contracts through extensive R&D activities. The company has a wide product portfolio consisting of electric aircraft. The company’s next-generation innovation and strategic investments, coupled with their strong product portfolio will lead to their robust international growth in the future. In 2016, Pipistrel developed Taurus Electro G2 electric-powered two-seat self-launching glider which is applied to the glider airframe, for battery capacity. The combined value of the project is more than USD 547 million.

Related Reports:

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

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