More Electric Aircraft Market 11.37 CAGR Growth Outlook 2025-2033

Key Insights

The More Electric Aircraft Market size was valued at USD 33.24 USD Billion in 2023 and is projected to reach USD 70.64 USD Billion by 2032, exhibiting a CAGR of 11.37 % during the forecast period. More Electric Aircraft (MEA) is a new generation of technology innovation in aviation systems with electrical systems replacing hydraulic and pneumatic ones. This change increases efficiency, decreases weight and also makes the upkeep cheaper. There are two principal classes of MEAs: hybrid electric airliner and fully electric airliner. Hybrid electric aircraft, use both conventional and electric power with electric power complemented by conventional power for electric propulsive power Aircraft that are fully electric, on the other hand, are propelled by batteries only. Some of the notable features of MEAS include complex power electronics, electric motors having high efficiency, and intricate energy control systems. These components enable the desired performance levels, enhance reliability and fuel economy, as well as minimize emissions. They are commonly used in applications such as commercial aeroplanes, military aeroplanes and unmanned aerial systems. The benefits of adopting MEA technology are significant: Less fuel consumption and greenhouse emissions, decreased operating costs, improved dependability and decreased noise pollution.

More Electric Aircraft Trends

• Integration of advanced electronic systems and software
• Implementation of composite materials to reduce weight and improve performance
• Adoption of electric power generation and distribution systems

Driving Forces: What's Propelling the More Electric Aircraft Market

• Rising fuel costs and the need for improved fuel efficiency: Soaring fuel prices continue to burden the aviation industry, driving the search for more fuel-efficient solutions. Electric aircraft offer significant potential for reducing fuel consumption and operating costs.
• Concerns over environmental pollution and the push for sustainability: Aviation contributes significantly to greenhouse gas emissions, prompting governments and stakeholders to prioritize the development and adoption of sustainable technologies. More electric aircraft, powered by renewable energy sources, can help reduce carbon footprint and mitigate environmental concerns.
• Growing demand for long-haul flights and increased payload capacity: The aviation industry is witnessing a growing demand for long-range flights, coupled with the need to increase payload capacity. Electric propulsion systems offer advantages in terms of weight reduction and energy efficiency, enabling the development of aircraft with extended ranges and enhanced payload capabilities.
• Government initiatives and incentives to promote electric aviation: Governments around the world are recognizing the potential benefits of electric aviation and are implementing initiatives and incentives to foster innovation and support the development and deployment of electric aircraft.

Challenges and Restraints in More Electric Aircraft Market

• High development and manufacturing costs: The development and manufacturing of more electric aircraft require significant investment in advanced technologies, materials, and manufacturing processes.
• Technical limitations, such as battery weight and range constraints: Current battery technology faces limitations in terms of weight and range, which can impact the performance and viability of more electric aircraft.
• Concerns about safety and reliability: Electric propulsion systems and battery storage raise safety concerns that need to be thoroughly addressed and mitigated to ensure the safe and reliable operation of more electric aircraft.
• Regulatory hurdles and infrastructure requirements: The certification and regulatory requirements for more electric aircraft are still evolving, along with the need for specialized infrastructure such as charging stations and ground support equipment.

Emerging Trends in More Electric Aircraft

• Development of hybrid electric aircraft
• Integration of hydrogen fuel cells
• Advancements in battery technology
• Autonomous flight systems

Growth Catalysts in More Electric Aircraft Industry

• Technological innovations and research and development: Ongoing advancements in battery technology, such as solid-state batteries, high-energy density cells, and improved energy management systems, are pushing the boundaries of electric aviation.
• Collaborative efforts among industry stakeholders: Strategic partnerships and joint ventures between aircraft manufacturers, suppliers, research institutions, and government agencies are accelerating the development and commercialization of more electric aircraft.
• Increasing demand from commercial airlines and aircraft manufacturers: Recognizing the environmental and operational benefits, commercial airlines and aircraft manufacturers are expressing growing interest in incorporating more electric aircraft into their fleets, driving demand for viable solutions.
• Government support for sustainability initiatives: Governments worldwide are providing funding, research grants, and policy incentives to promote sustainable aviation practices, including the development and adoption of more electric aircraft.

Market Segmentation: More Electric Aircraft Analysis

By Platform:

• Commercial Aircraft
  • Narrow Body
  • Wide Body
  • Regional Jet 

By System:

• Aircraft Configuration and Management System
• Flight Control and Mission Management System
• Air Pressurization and Conditioning System
• Power Generation and Management System
• Others

Leading Players in the More Electric Aircraft Market

• Thales Group (France)
• BAE Systems PLC (U.K.)
• Bombardier Inc. (Canada)
• Elbit Systems Ltd. (Israel)
• GE Aviation (U.S.)
• Safran SA (France)
• Lockheed Martin Corporation (U.S.)
• Airbus (Netherlands)
• The Boeing Company (U.S.)
• AMETEK, Inc. (U.S.)
• Honeywell International Inc. (U.S.)
• Raytheon Technologies Corporation (U.S.)
• Rolls-Royce Holdings PLC (U.K.)

Significant Developments in More Electric Aircraft Sector

• October 2023: GE Aerospace researchers plan to build and demonstrate a small engine prototype powered by fuel cells and sustainable aviation fuel (SAF) to help promote more sustainable flight.
• September 2023: A consortium led by Honeywell International recently launched a European Clean Aviation project that will develop a new generation of hydrogen fuel cells for the aviation industry.
• June 2023: A team of MIT engineers have unveiled the creation of a 1-megawatt motor that could be an important step toward electrifying larger airplanes.
• June 2023: The Pentagon awarded a contract worth over USD 2 billion for the upcoming batch of F-35 engines to Pratt & Whitney.
• May 2023: Alaska Airlines demonstrated a Bombardier Q400 regional turbojet that is equipped with a hydrogen-electric propulsion system at ZeroAvia to expand the reach and applicability of its zero-emissions flight technology.
• April 2023: Airbus announced plans to develop a zero-emission aircraft called the ZEROe, which is targeted to enter service by 2035.
• March 2023: Rolls-Royce launched a new hybrid-electric propulsion system for small aircraft, aiming to improve efficiency and reduce emissions.

Comprehensive Coverage More Electric Aircraft Market Report

This comprehensive More Electric Aircraft Market report provides an in-depth analysis of the global market. It includes detailed market segmentation, competitive landscape, industry trends, key driving forces, and future market projections. The report offers insights into the latest developments, challenges, and opportunities in the electric aircraft market.

Regional Insight

The report provides a regional analysis of the more electric aircraft market, covering major markets such as North America, Europe, Asia-Pacific, and the Rest of the World. The analysis includes market size, growth rate, and competitive landscape for each region.