Market Highlights:
The More Electric Aircraft Market is anticipated to reach USD 4256.87 Billion by 2030 at 13.4%CAGR during the forecast period 2022-2030. With the growing emphasis of environmentally friendly aircraft, a number of restrictions have been placed of aircraft pollution. Such growing stringency in the legislation on emissions has forced manufacturers to move towards more electric aircraft. Growing demand for More Electric Aircraft has led to the advent of new aerospace technology, such as the replacement of auxiliary power units with more powerful fuel cells to provide energy on board. Another trend is the production of more Rolls-Royce driven electric motors that will help MEA more effectively.
A further development in the industry is the growing use of electrical components in aircraft. Using electrical system has lowered the overall cost, resulting in better operation. This helps also in controlling emissions. The market-related challenges are issues with the electrical power system, issues related to the civilian and commercial use of more electric aircraft in electrical generators. The More Electric Aircraft industry has expanded its demand growth in recent years, according to a recent report released by Market Research Future globally, and is projected to expand steadily over the forecast period.
The shift to the use of fuel cells is one of the major market trends in the More Electric Aircraft Market Research worldwide. Aspects such as an increase in the number of aircraft deliveries, a decline in operational and repair costs, and the need for fuel-efficient aircraft with lower carbon emissions, among others, are identified as key driving factors for demand development. In addition, trends such as a decline in airport noise and the need for improved aircraft efficiency have fuelled MEA's growth in the sector. On the other hand, high investment level and lengthy clearance phase for system upgrades pose as some of the key restrictions for the more hybrid aircraft industry.
Key Players:
AMETEK, Inc., BAE Systems plc,Bombardier Inc., Elbit Systems Ltd. ,GE Aviation,Honeywell International Inc. ,Raytheon Technologies Corporation ,Rolls-Royce Holdings plc, Safran,Thales Group.
Market Segmentation:
The Global MEA Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding.
Segmentation By Application comprises military, commercial, and UAV.
segmentation by platform comprises UAV, commercial aircraft, and military aircraft.
In 2015, commercial application has 70% of the market share and will dominate the market in forecast period, followed by military and UAV platform.
Regional Analysis:
In 2015, Americas led the industry with a share of about 35 per cent , followed by Europe, MEA and APAC with a significant CAGR.
The Americas is leading the global market for more electric aircraft; however, demand from developing nations such as EMEA and Asia Pacific has risen in relation to increasing demand for more electric aircraft in both civil and military aircraft. The Americas More Electric Aircraft Market Report ,demand is expected, according to the MRFR report, to hit unprecedented levels of multi trillion in 2021, to expand at a significant CAGR over the forecast period. During the forecast era EMEA and Asia Pacific will rise at a significant CAGR.
Factors such as an increase in the number of aircraft deliveries, a decrease in operational and repair costs, and the need for fuel-efficient aircraft with lower carbon emissions, among others, are identified as key driving factors for demand development. In addition , factors such as lowering airport noise and the need for improved aircraft efficiency have fuelled MEA's market development. On the other hand, high expenditure and lengthy clearance phase for system upgrades pose as some of the main restrictions for the more hybrid aircraft industry.
Competitive Dashboard:
The key players in this market are Lockheed Martin (U.S.), Airbus (France), Raytheon Company (U.S.), United Technologies Corporation (U.S.), Thales Group (France), Honeywell International, Inc. (U.S.), Safran SA (France), Boeing (U.S.), Zodiac Aerospace SA (France), Rolls Royce (U.S.), and Bombardier Inc. (Canada).
Related Report:
Aircraft Galley Equipment Market Research Report: Information by Galley Type (Standard Galley, Modular Galley, and Customized Galley), Fit (Line Fit and Retro Fit), Inserts (Electric and Non-Electric Insert), Application (Narrow-Body, Wide-Body, Very Large Body, and Regional, Business Jets), and Region (North America, Europe, Asia-Pacific, Middle East Africa, and Latin America)-Forecast till 2030
Military UAV Sensor Market Research Report: Information by UAV Type (HALE, MALE, Tactical, and Small), Sensor Type (Radar Sensor, Image Sensor, Motion Position Sensor, and Others), Technology Type (CMOS, MEMS, NEMS, and Others), Application (Collision Avoidance, Navigation, 3D Scanner, Data Acquisition, LIDAR, and Others), and Region (North America, Asia Pacific, Europe, Middle East Africa, and Latin America)—Forecast till 2027.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that prides itself on its services, offering comprehensive and accurate analysis with respect to various markets and consumers worldwide. Market Research Future has the distinguished goal of providing customers with optimal quality research and granular research. Our market research by products, services, technologies, applications, end users, and market players for global, regional, and national market segments, allows our customers to see more, learn more, and do more, helping to answer your most important questions
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