Electrifying the Skies: The Rise of More Electric Aircraft
More Electric Aircraft Market by Aircraft System, Application, and Aircraft Type, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027
PORTLAND, OR, UNITED STATES, February 13, 2023 /EINPresswire.com/ — The aviation industry is undergoing a significant transformation with the rise of more electric aircraft. In recent years, there has been a growing interest in electric and hybrid-electric aircraft as a means of reducing greenhouse gas emissions and improving the overall efficiency of air travel. This shift is driven by advancements in battery technology, the growth of renewable energy sources, and a growing awareness of the need for sustainable travel options.
𝐑𝐞𝐜𝐞𝐧𝐭 𝐓𝐫𝐞𝐧𝐝𝐬 𝐚𝐧𝐝 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬
The more electric aircraft market is rapidly growing, with many leading aerospace companies investing in research and development to create new and more efficient electric propulsion systems. The focus is on reducing the weight of the aircraft and improving the overall energy efficiency of the systems. This will help to increase the range and payload capacity of electric aircraft, making them more practical for a wider range of applications.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/6593
𝐅𝐮𝐭𝐮𝐫𝐞 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐢𝐞𝐬
The demand for more electric aircraft is expected to continue to grow in the coming years, driven by increasing environmental regulations and the need for more sustainable travel options. In particular, the market for regional air travel is expected to grow significantly, as electric aircraft are ideal for shorter flights. This will create significant opportunities for aerospace companies to develop new and innovative electric propulsion systems for a wider range of aircraft.
𝐒𝐚𝐥𝐞𝐬 𝐚𝐧𝐝 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐀𝐝𝐨𝐩𝐭𝐞𝐝 𝐛𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬
Many leading aerospace companies are investing in the development of more electric aircraft, with a focus on developing new and more efficient propulsion systems. The companies are working closely with suppliers and partners to develop new technologies and materials that can help to reduce the weight of the aircraft and improve their overall energy efficiency. Some of the key strategies adopted by market players include investing in research and development, developing new partnerships, and increasing their focus on sustainability and environmental stewardship.
𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐌𝐚𝐣𝐨𝐫 𝐂𝐨𝐮𝐧𝐭𝐫𝐢𝐞𝐬
𝐔𝐧𝐢𝐭𝐞𝐝 𝐒𝐭𝐚𝐭𝐞𝐬: The United States is a leading market for more electric aircraft, with many leading aerospace companies investing in research and development to create new and more efficient propulsion systems. Some of the top trends in the US include the development of hybrid-electric aircraft, the growth of regional air travel, and the increasing use of electric aircraft for military applications.
𝐄𝐮𝐫𝐨𝐩𝐞: Europe is also a significant market for more electric aircraft, with many leading aerospace companies investing in research and development to create new and more efficient propulsion systems. Some of the top trends in Europe include the development of hybrid-electric aircraft, the growth of regional air travel, and the increasing use of electric aircraft for military applications.
𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜: The Asia-Pacific region is expected to be one of the fastest-growing markets for more electric aircraft, driven by the growing demand for sustainable travel options and the increasing popularity of regional air travel. Some of the top trends in the Asia-Pacific region include the development of hybrid-electric aircraft, the growth of regional air travel, and the increasing use of electric aircraft for military applications.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 – https://www.alliedmarketresearch.com/checkout-final/9864ac82d151fad520f4eea4938ff936
𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐬
According to a recent report by Allied Market Research, The global more electric aircraft market size valued $1,809.20 million in 2019, and is set to surpass $4,612.69 million in 2027, registering a CAGR of 15.5%. This growth is driven by the increasing demand for sustainable travel options and the growing popularity of regional air travel.
𝐂𝐨𝐧𝐜𝐥𝐮𝐬𝐢𝐨𝐧
The rise of more electric aircraft is a major trend in the aviation industry, driven by the need for sustainable travel options and the increasing popularity of regional air travel. With many leading aerospace companies investing in research and development to create new and more efficient propulsion systems, the future of air travel looks bright and sustainable.
Europe dominates the market in terms of revenue, followed by North America, Asia-Pacific, and LAMEA. U.S. dominated the global more electric aircraft market share in 2019, and is expected to grow at a significant rate during the forecast period, owing to the presence of robust manufacturing and development infrastructure for more electric aircraft systems in the country. The advent of technological innovations and development of more efficient aircraft is anticipated to fuel the growth of the global more electric aircraft market during the forecast period. For instance, in June 2019, Honeywell International Inc. launched a compact fly-by-wire system. The compact system will eliminate the need for heavy pushrods, control cables, or hydraulics in the aircraft and will enhance the stability of the aircraft. The more electric aircraft are energy-efficient substitutes to the conventional mechanical, pneumatic, and hydraulic counterparts. It merges power electronics and drives of an aircraft further reducing the engine autonomy.
Key players operating in the global More Electric Aircraft market include AMETEK, Inc., BAE Systems plc, Bombardier Inc., Elbit Systems Ltd., GE Aviation, Honeywell International Inc., Raytheon Technologies Corporation, Rolls-Royce Holdings plc, Safran, and Thales Group.
Europe dominates the market in terms of revenue, followed by North America, Asia-Pacific, and LAMEA. U.S. dominated the global more electric aircraft market share in 2019, and is expected to grow at a significant rate during the forecast period, owing to the presence of robust manufacturing and development infrastructure for more electric aircraft systems in the country. The advent of technological innovations and development of more efficient aircraft is anticipated to fuel the growth of the global more electric aircraft market during the forecast period. For instance, in June 2019, Honeywell International Inc. launched a compact fly-by-wire system. The compact system will eliminate the need for heavy pushrods, control cables, or hydraulics in the aircraft and will enhance the stability of the aircraft. The more electric aircraft are energy-efficient substitutes to the conventional mechanical, pneumatic, and hydraulic counterparts. It merges power electronics and drives of an aircraft further reducing the engine autonomy.
David Correa
Allied Analytics LLP
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