Aircraft Electrification Market - By Product Type (Electric Motors, Batteries, Power Electronics, Sensors, Wiring & Distribution, Environmental Control Systems), By Technology (Fully Electric, Hybrid Electric, More Electric), By Application & Forecast, 2023 - 2032
Published Date: February - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Aerospace | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationAircraft Electrification Market - By Product Type (Electric Motors, Batteries, Power Electronics, Sensors, Wiring & Distribution, Environmental Control Systems), By Technology (Fully Electric, Hybrid Electric, More Electric), By Application & Forecast, 2023 - 2032
Aircraft Electrification Market - By Product Type (Electric Motors, Batteries, Power Electronics, Sensors, Wiring & Distribution, Environmental Control Systems), By Technology (Fully Electric, Hybrid Electric, More Electric), By Application & Forecast, 2023 - 2032
Aircraft Electrification Market Size
Aircraft Electrification Market was valued at USD 6.5 billion in 2022 and is estimated to register a CAGR of over 13% between 2023 and 2032. With increasing awareness of climate change and the need to reduce greenhouse gas emissions, the aviation industry is under pressure to adopt more sustainable practices.
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Say goodbye to noisy jet engines and hello to a quieter future with electric planes! These planes can make a big difference in reducing air pollution, especially carbon emissions, which is great news for the environment and people who live near airports. Thanks to advances in battery technology, like the kind in your phone but much bigger, electric planes have become more practical and reliable than ever before. The batteries are lighter, safer, and store more energy, making electric planes fly longer and more efficiently. Another perk? Electric planes are way quieter than traditional jet engines. This means less noise pollution around airports and a more peaceful environment for people who live nearby. It also makes them a great choice for Urban Air Mobility, which is like a flying taxi service, and for areas where noise is a major concern. Researchers and companies are working hard to make electric planes even better. They're developing new electric motors, power systems, and materials to make planes fly faster, farther, and with even quieter engines. So, get ready for a brighter, cleaner, and quieter future with electric planes taking to the skies!
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Aircraft Electrification Market Size in 2022 | USD 6.5 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 13% |
| 2032 Value Projection | USD 23 Billion |
| Historical Data for | 2018 - 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 291 |
| Segments covered | Component & Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
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Electric planes are hot stuff – literally. Their engines and electronics pump out a lot of heat, which can be dangerous if not handled properly. If things get too toasty, parts could melt down and cause a crash. That's a big concern for engineers trying to design these planes. On top of that, electric planes can't fly as far as regular planes because their batteries don't store as much energy as jet fuel. So, it's tough to use electric planes for long flights. Scientists are working on improving battery technology, but for now, it's a major hurdle. The COVID-19 pandemic has also thrown a wrench into things. Travel restrictions and disruptions have made it harder to develop and test electric planes. But despite these challenges, engineers are still pushing forward, because electric planes have the potential to be cleaner and more efficient than traditional aircraft.
The COVID-19 pandemic had significant impacts on the aviation industry including the field of aircraft electrification. Several electric aircraft projects faced delays due to reduced funding and resource allocation. Research & development efforts were slowed down as companies redirected their focus toward addressing immediate financial concerns and maintaining the existing fleet.
Aircraft Electrification Market Trends
Electric propulsion systems including electric motors and batteries are being increasingly used in various types of aircraft, from small electric drones to urban air mobility vehicles. These systems are more energy-efficient and produce fewer emissions compared to traditional combustion engines. Hybrid-electric aircraft combine traditional gas turbine engines with electric propulsion systems. This approach reduces fuel consumption and emissions while maintaining the range & performance required for larger commercial aircraft. All-electric aircraft, such as small electric trainers and regional aircraft, use electric propulsion for all phases of flight. These aircraft are well-suited for short-haul routes and urban air mobility applications.
Aircraft Electrification Market Analysis
Learn more about the key segments shaping this market
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The market for aircraft electrification components encompasses a wide range of parts, including electric motors, batteries, power electronics, sensors, wiring, environmental control systems, and more. Of these, electric motors held the lion's share of the market in 2022, with a whopping 20%. And analysts predict that by 2032, this segment alone could generate over $4 billion in revenue. Electric motors are the lifeblood of electric and hybrid-electric aircraft, playing a crucial role in making aircraft electrification a reality. These motors take electrical energy and transform it into the thrust that propels the aircraft forward. They shine with their high efficiency, low maintenance needs, and hushed operation. Plus, their lower emissions make them an eco-friendlier choice. Developing lightweight, super-efficient electric motors is a top priority in the quest to electrify aircraft. These motors pave the way for a greener future, allowing us to ditch traditional gas-guzzling engines for cleaner, more sustainable alternatives.
Learn more about the key segments shaping this market
When it comes to electric aircraft, the market is a mix of different parts, like electric engines, power systems, batteries, actuators, fuel cells, generators, and more. Electric propulsion, or the electric engines that power planes, is the biggest part of the market, taking up more than a quarter of it in 2022. By 2032, it's expected to bring in over 6 billion dollars! These electric engines are a lot more efficient and cheaper to run than traditional jet engines. Plus, they don't create any harmful emissions, making them better for the environment. In the future, the electric propulsion industry is only going to grow, thanks to stricter rules about pollution, better technology, and more people wanting to fly in electric planes. Governments are also pushing for electric propulsion, which will help the industry grow even more.
Looking for region specific data?
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Hey there! Guess what? North America is leading the charge when it comes to electric aircraft. In 2022, they had a huge slice of the pie, over 35%. And it's only going to get bigger from here. Why? Well, governments in North America are all over this. They're giving out sweet tax breaks and grants to folks who want to hop on the electric aircraft bandwagon. You got the U.S. government pouring money into this through NASA and the FAA. But wait, there's more! Companies are hopping on board too. They want to make their businesses greener and cleaner, and electric aircraft are a great way to do it. Amazon is even getting in on the action. They're buying up a whole bunch of electric delivery drones. So, if you're looking to the future of aviation, North America is the place to be. They're blazing the trail for electric aircraft, making our skies greener and more sustainable.
Aircraft Electrification Market Share
MagniX is a trailblazer in making planes electric! They've got a bunch of different electric engines that can power planes of all sizes, from small Cessnas and airliners to even cargo giants. They're making waves in the world of electric aviation. Just take Eviation, for example. They used MagniX's powerful magni650 engines to give their Alice plane its first test flight in September 2022. This Alice is going to be the first all-electric plane to fly people around when it starts flying in 2025. So, who are the bigwigs in this electric aviation game?
- Honeywell (U.S.)
- General Electric (U.S.)
- Collins Aerospace (U.S.)
- Safran (France)
- MagniX (U.S.)
- Eviation (Isreal)
- Joby Aviation (U.S.)
Aircraft Electrification Industry News
- In July 2022, Safran S.A. developed a pioneering electric nose wheel steering and extension/retraction system for narrowbody & widebody commercial jets. The company also unveiled an electric nose landing gear actuator.
- In August 2021, Astronics Corporation signed an agreement with Aerotec Concept of Toulouse, France. This agreement provided both companies the opportunity to offer a greater breadth of new technologies, applications, and/or modifications requiring the European Union Aviation Safety Agency (EASA) & the U.S. Federal Aviation Administration (FAA) certifications.
The aircraft electrification market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Million) from 2018 to 2032, for the following segments
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Market, By Component
- Electric Motors
- Batteries
- Power Electronics
- Sensors
- Wiring & Distribution
- Sensors
- Environmental Control Systems
- Others
Market, By Technology
- More Electric
- Hybrid Electric
- Fully Electric
Market, By Application
- Electric Propulsion
- Cabin Systems
- Thermal Management
- Power Distribution & Conversion
- Energy Storage
- Regenerative Systems
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Taiwan
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation.
1.4 Data Sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources.
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Aircraft electrification 360º synopsis, 2018 - 2032
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Technology Type
2.6 Application trends
Chapter 3 Aircraft electrification market Insights
3.1 Impact on COVID-19
3.2 Russia- Ukraine war impact
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1.1 Partnership/Collaboration
3.8.1.2 Merger/Acquisition
3.8.1.3 Investment
3.8.1.4 Product launch and innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 Technological advancements in batteries, electric motors, and power electronics
3.10.1.2 Increased demand for electric aircraft
3.10.1.3 Expanding use of aircraft systems in new applications
3.10.1.4 Government support for the development and adoption of electric aircraft
3.10.1.5 Environmental regulations are becoming increasingly stringent.
3.11 Industry pitfalls & challenges
3.11.1.1 High investment
3.11.1.2 High thermal issues of aircraft electric systems
3.12 Growth potential analysis
3.13 Porter’s analysis
3.14 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.3.1 Honeywell (U.S.)
4.3.2 General Electric (U.S.)
4.3.3 Collins Aerospace (U.S.)
4.3.4 Safran (France)
4.3.5 MagniX (U.S.)
4.3.6 Eviation (Isreal)
4.3.7 Joby Aviation (U.S.)
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
Chapter 5 Aircraft Electrification Market, By Component (USD Million)
5.1 Key trends, by Component
5.2 Electric Motors
5.3 Batteries
5.4 Power Electronics
5.5 Wiring and Distribution
5.6 Sensors
5.7 Environmental Control Systems
5.8 Others
Chapter 6 Aircraft Electrification Market, By Technology (USD Million)
6.1 Key trends, by Technology
6.2 Fully electric
6.3 Hybrid electric
6.4 More electric
Chapter 7 Aircraft electrification market, By Application (USD Million)
7.1 Key trends, by Application
7.2 Electric Propulsion
7.3 Power Distribution and Conversion
7.4 Energy Storage
7.5 Electric Actuators
7.6 Fuel Cell
7.7 Generators
7.8 Others
Chapter 8 Aircraft electrification market, By Region
8.1 Key trends, by region
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 France
8.3.4 Italy
8.3.5 Russia
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 India
8.4.3 Japan
8.4.4 Taiwan
8.4.5 Australia
8.4.6 Rest of Asia Pacific
8.5 Latin America
8.5.1 Brazil
8.5.2 Mexico
8.5.3 Rest of Latin America
8.6 MEA
8.6.1 South Africa
8.6.2 Saudi Arabia
8.6.3 UAE
8.6.4 Rest of MEA
Chapter 9 Company Profiles
9.1 Honeywell (U.S.)
9.2 General Electric (U.S.)
9.3 Collins Aerospace (U.S.)
9.4 Safran (France)
9.5 MagniX (U.S.)
9.6 Eviation (Isreal)
9.7 Joby Aviation (U.S.)
9.8 Ametek.Inc. (U.S.)
9.9 Astronics Corporation (U.S.)
9.10 Meggitt plc (U.K.)
9.11 Rolls-Royce plc (U.K.)
9.12 Thales Group (France)
- Honeywell (U.S.)
- General Electric (U.S.)
- Collins Aerospace (U.S.)
- Safran (France)
- MagniX (U.S.)
- Eviation (Isreal)
- Joby Aviation (U.S.)
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