Market Size, Growth & Projections (2024-2031):

According to a new report by IMIR Market Research on Global Aircraft Electrification Market size is estimated to be USD 8.17 billion in 2024 and is projected to reach USD 28.29 billion by 2032, at a CAGR of 14.8% during the forecast period.

The process of powering aircraft systems electrically as opposed to traditionally fuel-based techniques is known as aviation electrification. Increased aeroplane range, lower pollutants, and improved fuel efficiency are just a few of the possible advantages of this procedure. Right now, the market for aeroplane electrification is expanding. The market encompasses the creation, production, and distribution of different systems and components utilised in the electrification of aeroplanes. Aircraft electrification aims to save costs, increase efficiency, and make flying more environmentally benign and sustainable.

The need for cleaner, quieter aircraft, an increase in the need for electrical components in aircraft, and advancements in electric aircraft propulsion systems are some of the drivers driving the aviation electrification industry. Nevertheless, the high capital needs and high voltage and heat problems with aircraft electrical systems limit the market's growth. Also, the industry has profitable growth prospects due to the development of lithium-ion batteries and the rise of alternative power sources.

Beyond that, there is increasing pressure on the aviation industry to lower its carbon footprint. Potential technologies that could assist the aviation sector in reducing pollution include energy storage systems in aircraft electrification and electric propulsion systems. Meanwhile, a number of aircraft manufacturers are currently developing electric aircraft. For example, Airbus worked together with Rosales and Siemens to develop a hybrid electric regional airline. The airline is expected to start operating in 2030, according to the corporation.

The market for aeroplane electrification is divided into segments according to component, technology, application, platform, system, and geography. The market is segmented by component and includes batteries, fuel cells, solar cells, electric actuators, electric pumps, generators, motors, power electronics, and distribution devices. The market is divided into three categories based on technology: fully electric, hybrid electric, and more electric. The market is divided into four categories based on application: energy storage, power conversion, power generating, and power distribution. The market is segmented into fixed-wing, rotary-wing, and unmanned aerial vehicles (UAVs) based on platform. Propulsion, Environmental Control, Landing Gear, Ice Protection, Flight Control, and Thrust Reverser systems are the market segments categorised by system. By region, the market is examined at the national level in each of the following areas: Latin America, Middle East & Africa (LAMEA), Europe, Asia-Pacific, and North America.

Market Drivers:

Lower Cost of Maintenance

• Conventional system installation and maintenance are labour- and time-intensive processes that take a lot of time on aircraft. Due to the fact that electrification has fewer moving parts than conventional systems, it significantly lowers maintenance costs for aeroplanes. The benefits of electric aircraft are prompting major OEMs like Airbus and Boeing to increase their production. Similarly the possibility to build hybrid and completely electric aircraft is greatly enhanced by the reduction in operating costs brought about by electrification.

Advancement in Battery Technology

• Progressive developments in battery technology are a major driver of the growth of electric aircraft. Battery capacity to store energy long enough to power an aeroplane has always been the Achilles' heel of electric aviation.  On the other hand, batteries with significantly better energy densities are being developed as a result of recent advances in materials research and cell architecture.  It follows that electric aeroplanes can travel farther on a single charge because they can pack more power into a lower weight.  The path towards a cleaner, calmer sky is being paved by these innovations, which are making electric aircraft a more appealing option.

Market Trends:

Hybrid Electric Aircraft

• The rise in hybrid electric aircraft is a potential approach to aviation electrification. These blend conventional jet engines and electric motors. By utilising the advantages of both technologies, this provides a creative solution. Since they are concentrated on the ground and at lower altitudes, electric motors assume control during takeoff and the early climb, greatly lowering emissions and noise pollution. The jet engine smoothly takes over once the vehicle reaches cruising altitude, allowing these hybrids to reach ranges that are on par with conventional aircraft—a challenge that is beyond the reach of fully electric models because of battery capacity restrictions. This combination opens the door to a more sustainable aviation future by providing a convincing means of bridging the gap between completely electric and conventional aircraft.

Urban Air Mobility (UAM)

• By focusing on the skies, Urban Air Mobility (UAM) is changing urban transit. For short-distance flights inside cities, an electric vertical takeoff and landing (eVTOL) aircraft network is used. By operating in the airspace above urban areas, these electric vehicle taxis, or air taxis, seek to avoid traffic congestion.  For UAM to be effective, electric propulsion is required since it reduces noise pollution in cities by making eVTOL aircraft quieter and greener. For short journeys, this technology offers a quicker and more convenient option by potentially cutting travel times within crowded cities.  Urban mobility is about to change, and UAM offers an exciting new opportunity to lower traffic in cities.

Market Restraining Factors:

High Costs

• Their high cost is a significant barrier to the widespread use of electric aircraft. Battery technology and infrastructure are the two main causes of this. Large aeroplanes require batteries with a certain energy density, which is costly to develop and produce.  A lack of infrastructure, such as airport charging stations, is another issue that makes it difficult for electric aircraft to operate. Although not yet widely accessible, these charging stations need a large initial expenditure.  For airlines and other prospective operators thinking about making the transition to electric aircraft, the high costs of the aircraft themselves as well as the supporting infrastructure provide a major obstacle.

Report Coverage:

The report will cover the qualitative and quantitative data on the global Aircraft Electrification Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

By Component (Batteries, Fuel Cells Solar Cells, Electric Actuators, Electric Pumps, Generators, Motors, Power Electronics, Distribution Devices), By Technology (More Electric, Hybrid Electric, Fully Electric), By Application (Power Generation, Power Distribution, Power Conversion, Energy Storage), By Platform (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs)), Advanced Air Mobility), By System (Propulsion System, Environmental Control System, Landing Gear System, Ice Protection System, Flight Control System, Thrust Reverser System).

Report Scope and Segmentations:

Key Companies in the Aircraft Electrification market include:

• Honeywell International Inc.
• Safran S.A.
• Thales Group
• Raytheon Technologies
• GE Aviation
• Ametec, INC.
• Meggitt Plc
• BAE Systems
• Eaglepicher Technologies LLC
• Astronics Corporation
• Crane Aerospace & Electronics
• Magnix
• PBS Aerospace
• Acme Aerospace Inc. & Avionic Instruments, LLC
• Nabtesco Corporation
• Carlisle Interconnect Technologies
• Others

Key Industry Developments:

In September 2022, Thales Group & amp Safran entered into negotiations to acquire its aeronautical electrical systems business. The proposed acquisition includes Thales Avionics Electrical Systems and Thales Avionics Electrical Motors companies in France, as well as the support, maintenance & production activities for aeronautical electrical equipment in Orlando (USA) and Singapore.

In July 2022, Safran S.A. developed a pioneering electric nose wheel steering and extension/retraction system for tomorrow’s narrowbody and widebody commercial jets & Unveils Electric Nose Landing Gear Actuator. The new electro-hydrostatic actuators (EHA) drive these functions using hydraulic power generated locally at the front of the aircraft by an electric motor pump.

In August 2021, Astronics Corporation signed an agreement with Aerotec Concept of Toulouse, France providing both companies the opportunity to offer a greater breadth of new technologies, applications, and/or modifications requiring EASA (European Union Aviation Safety Agency) and FAA (U.S. Federal Aviation Administration) certifications to the marketplace.

In July 2020, Collins Aerospace & Hybrid Air Vehicles first developed a working prototype of a 500-kilowatt electric motor suitable for the Airlander 10aircraft. Airlander 10 is scheduled to begin hybrid-electric operation in 2026, followed by an all-electric, zero-emission operation in 2030.

Aircraft Electrification Market Segmentation Analysis:

By Component

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

By Technology

• More Electric
• Hybrid Electric
• Fully Electric

By Application

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

By Platform

• Fixed Wing
• Rotary Wing
• Unmanned Aerial Vehicles (UAVs)
• Advanced Air Mobility

By System

• Propulsion System
• Environmental Control System
• Landing Gear System
• Ice Protection System
• Flight Control System
• Thrust Reverser Systems

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
• Asia-Pacific (China, India, Japan, ASEAN, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

The report also helps in understanding Global Aircraft Electrification Market dynamics, structure by analyzing the market segments, and project the Global Aircraft Electrification Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Aircraft Electrification Market make the report investor’s guide.

This report examines all the key factors influencing growth of global Aircraft Electrification market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Aircraft Electrification market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, pricing strategies, innovation possibilities and much more.

The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

Aircraft Electrification Market Segment Insights:

The market scope is segmented because of by Component, by Technology, by Application, by Platform, by System.

By Component

Based on the Component of the market is segmented into Batteries, Fuel Cells Solar Cells, Electric Actuators, Electric Pumps, Generators, Motors, Power Electronics, Distribution Devices.

Battery, fuel cell, electric actuator, electric pump, generator, motor, power electronics, and distribution devices are among the components that make up the segmentation of the aircraft electrification market. The global market for batteries was dominated in 2022. Li-S batteries have the capacity to store and release energy, allowing them to have an energy density up to five times higher than that of lithium batteries with equivalent dimensions and weight. In comparison with standard lithium-ion batteries, the lithium titanate rechargeable battery, also known as lithium titanium oxide, has a lower energy density.

By Technology

Based on the Technology of the market is segmented into More Electric, Hybrid Electric, Fully Electric.

The market segmentation for aircraft electrification is based on technology and comprises fully electric, hybrid electric, and more electric aircraft. In 2022, the hybrid electric market held a dominant position worldwide. The fact that a hybrid automobile runs cleaner and consumes less fuel than a gasoline-powered vehicle makes it a more environmentally responsible option.

By Application

Based on the Application of the market is segmented into Power Generation, Power Distribution, Power Conversion, Energy Storage.

Application-based market segmentation for aircraft electrification covers power production, power distribution, power conversion, and energy storage. The worldwide market in 2022 was controlled by the power generation category. While older aeroplanes apply physical hydraulic or pneumatic systems to generate energy, modern aircraft use an electric generator. For wide-body and massive aircraft, major airlines opt for integral drive units over variable speed generators due to the higher precision and efficiency of these engines.

By Platform

Based on the Platform of the market is segmented into Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs).

Unmanned aerial vehicles (UAVS), fixed wing, rotary wing, and advanced air mobility are the segments of the aircraft electrification market based on platform. Aircraft Electrification Market in 2022 was led by Unmanned Aerial Vehicles (UAVS) Platform segment. More motions are possible for UAVs than for human aircraft. Flying over previously unreachable locations becomes easier because to their increased range and direction of flight.

By System

Based on the System of the market is segmented into Propulsion System, Environmental Control System, Landing Gear System, Ice Protection System, Flight Control System, Thrust Reverser System.

Systems like as propulsion, environmental control, landing gear, ice protection, flight control, and thrust reverser are included in the market segmentation of aircraft electrification. In 2022, the aircraft electrification market was dominated by the propulsion system sector. The need to reduce fuel use and carbon emissions is driving the adoption of electrical propulsion systems. It is also expected that a greater proportion of electric components in aircraft propulsion systems would result in a significant reduction in fuel consumption and emissions into the atmosphere.

Regional Snapshots:

North America accounted for the largest proportion of market revenue. North American aerospace companies, including industry titans like Boeing and Airbus North America, are heavily engaged in robust research and development. Their main focus is on hybrid and electric propulsion technologies to reduce aviation's environmental impact and boost fuel efficiency. Innovative and fresh businesses dedicated to the concept of electric aircraft are beginning to emerge in the region. Among the cutting-edge technologies that these creative businesses are spearheading the development of are urban air transportation solutions, electric vertical takeoff and landing aircraft, and short-haul electric aviation. The main forces behind the industry's growth are R&D initiatives to improve electric propulsion systems, battery technologies, and aircraft design for optimal efficiency. Collaborations between top academic institutions, government organisations, and business executives are propelling the advancement of technology.

Aircraft Electrification Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report:

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Aircraft Electrification Market valued?
• Which region has the largest share in 2024 for the global Aircraft Electrification Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Aircraft Electrification Market:

• Historic year: 2019- 2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Aircraft Electrification Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: