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More Electric Aircraft Market by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Feb 2021
  • Pages: 120
  • SKU: IRTNTR70273
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The more electric aircraft market share is expected to increase by USD 2.45 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 2.15%.

This more electric aircraft market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers more electric aircraft market segmentations by application (manned and unmanned) and geography (North America, Europe, APAC, South America, and MEA). The more electric aircraft market report also offers information on several market vendors, including Airbus SE, Bombardier Recreational Products Inc., Embraer SA, Honeywell International Inc., Lockheed Martin Corp., Raytheon Technologies Corp., Safran SA, Siemens AG, Thales Group, and The Boeing Co. among others.

What will the More Electric Aircraft Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the More Electric Aircraft Market Size for the Forecast Period and Other Important Statistics

 

More Electric Aircraft Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The combined expertise expected to generate quicker results is notably driving the more electric aircraft market growth, although factors such as relatively immature technologies may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the more electric aircraft industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key More Electric Aircraft Market Driver

The combined expertise expected to generate quicker results is one of the key factors driving the growth of the more electric aircraft market. Nowadays, more electric engine focuses on replacing the mechanically driven engine accessories such as oil pump, fuel pumps, hydraulic pump, along with few generators with electrically driven machines and generators connected directly with the engine shafts, an appropriate outline should be in place for this integration. To achieve this, engineers from the Electrical Power and Control Systems (EPACS) division of Rolls-Royce, UK, have been exploring appropriate architectures to implement on various configurations along with supporting hardware to deliver a reliable operation. It is expected that similar frameworks will also be employed in reducing future engine programs. Sometimes such activity requires a deep dive into the basics, and thus, EPACS is collaborating with selected academic institutions (based on their research capabilities in power dense electrical machine and power electronics) and collectively calling them its University Technology Centers. Therefore, the combined expertise of manufacturers to generate quicker results is expected to drive the growth of the global more electric aircraft market during the forecast period.

Key More Electric Aircraft Market Trend

The meeting power demand through the no-bleed concept will fuel the more electric aircraft market growth. In a traditional commercial jet, the environmental control system and wing ice protection system use the hot air generated by the engine to energize the systems. On more electric aircraft platforms, this bleed air is superfluous because the systems are electrically powered. Since more electric aircraft models generate more demand for electrical power than traditional designs, the implementation of no-bleed systems is practical. Moreover, these systems generate more electrical power by transferring the secondary power generated through the compressed air from the usual compressor to power generation with the mechanical (rotational) energy of an HP spool shaft. Therefore, this no-bleed concept is expected to have a positive impact on the growth of the global more electric aircraft market during the forecast period.

Key More Electric Aircraft Market Challenge

The relatively immature technologies is a major challenge for the more electric aircraft market growth. The fuel efficiency is highly controlled by the weight of an aircraft. Though one of the basic ideas behind the adoption of more electric aircraft is the reduction in fuel consumption, it should be noted that more electric aircraft, in general, are heavier than conventional wide-body and narrow-body aircraft, as the associated technologies are not sufficiently mature to meet the performance benchmarks. More electric aircraft involves the inclusion of a weighty power electronics box that reflects more weight on the electromagnetic interference (EMI) filters front by up to 25%-40%. However, advances in power electronic technologies will enable more effective cooling and control. It may be expected that with disruptive innovations and their associated cooling and controls, the weight of these electrical components will gradually reduce. However, there are applications such as hydraulic flight control actuation, where the force density generated by hydraulics can be 15 times greater than the force density generated by electrical power components. Therefore, such challenges are difficult to address at the component and box levels and will likely hamper the growth of the market during the forecast period.

This more electric aircraft market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global more electric aircraft market as a part of the global aerospace and defense market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the more electric aircraft market during the forecast period.

Who are the Major More Electric Aircraft Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Airbus SE
  • Bombardier Recreational Products Inc.
  • Embraer SA
  • Honeywell International Inc.
  • Lockheed Martin Corp.
  • Raytheon Technologies Corp.
  • Safran SA
  • Siemens AG
  • Thales Group
  • The Boeing Co.

 

This statistical study of the more electric aircraft market encompasses successful business strategies deployed by the key vendors. The more electric aircraft market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Airbus SE - The company offers electric and hybrid-electric propulsion for aircrafts to achieve zero-emission flights. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The more electric aircraft market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

More Electric Aircraft Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the more electric aircraft market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for More Electric Aircraft Market?

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28% of the market’s growth will originate from APAC during the forecast period. China is the key market for global more electric aircraft  in APAC. Market growth in this region will be faster than the growth of the market in regions.

The combined expertise expected to generate quicker results will facilitate the global more electric aircraft market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

As of March 2020, 3,300 people had reportedly died in China due to COVID-19. Thus, the spread of the disease across APAC countries will impact the demand for more electric aircraft. The outbreak of the COVID-19 led to a lockdown in various countries, which led to a reduction in airline services as all commercial flights were suspended temporarily. The decline in the demand for airline services forced various service providers to ground their commercial aircraft. The temporary suspension of air transport services thus negatively impacted the investments in the airline industry, which, in turn, adversely affected the procurement of more electric aircraft. This will hamper the growth of the global more electric aircraft market during the forecast period.

What are the Revenue-generating Application Segments in the More Electric Aircraft Market?

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The global more electric aircraft market share growth by the manned segment will be significant during the forecast period. The increasing political tensions among few neighboring countries have necessitated fuel-efficient and environmentally viable aircraft hovering over countries’ borders. This has increased the demand and investments in manned more electric aircraft. Commercial aircraft manufacturers initiated the practice of implementing more electric configurations in their upcoming models and were followed by military aviation stakeholders. This has been the key contributor to the dominance of manned segment. The growth of the market segment is expected to be significant during the forecast period.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the more electric aircraft market size and actionable market insights on post COVID-19 impact on each segment.

 

More Electric Aircraft Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 2.15%

Market growth 2021-2025

$ 2.45 billion

Market structure

Fragmented

YoY growth (%)

1.55

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

APAC at 28%

Key consumer countries

US, China, Germany, France, and Italy

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Airbus SE, Bombardier Recreational Products Inc., Embraer SA, Honeywell International Inc., Lockheed Martin Corp., Raytheon Technologies Corp., Safran SA, Siemens AG, Thales Group, and The Boeing Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this More Electric Aircraft Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive more electric aircraft market growth during the next five years
  • Precise estimation of the more electric aircraft market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the more electric aircraft industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of more electric aircraft market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
  • 2.2 Market characteristics
    • Exhibit 02: Market characteristics
  • 2.3 Value chain analysis
    • Exhibit 03: Value Chain Analysis: Aerospace and Defense Market

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2020-2025 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Manned - Market size and forecast 2020-2025
      • Exhibit 17: Manned - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Manned - Year-over-year growth 2020-2025 (%)
    • 5.4 Unmanned - Market size and forecast 2020-2025
      • Exhibit 19: Unmanned - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Unmanned - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Application
      • Exhibit 21: Market opportunity by Application

    6 Customer landscape

    • 6.1 Customer landscape
      • Exhibit 22: Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 23: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 24: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 25: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 26: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 27: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 28: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 APAC - Market size and forecast 2020-2025
      • Exhibit 29: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 30: APAC - Year-over-year growth 2020-2025 (%)
    • 7.6 South America - Market size and forecast 2020-2025
      • Exhibit 31: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 32: South America - Year-over-year growth 2020-2025 (%)
    • 7.7 MEA - Market size and forecast 2020-2025
      • Exhibit 33: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 34: MEA - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 35: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 36: Market opportunity by geography ($ billion)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 37: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Competitive scenario
          • 9.2 Vendor landscape
            • Exhibit 38: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 39: Landscape disruption
          • 9.4 Industry risks
            • Exhibit 40: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 41: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 42: Market positioning of vendors
          • 10.3 Airbus SE
            • Exhibit 43: Airbus SE - Overview
            • Exhibit 44: Airbus SE - Business segments
            • Exhibit 45:Airbus SE - Key news
            • Exhibit 46: Airbus SE - Key offerings
            • Exhibit 47: Airbus SE - Segment focus
          • 10.4 Bombardier Recreational Products Inc.
            • Exhibit 48: Bombardier Recreational Products Inc. - Overview
            • Exhibit 49: Bombardier Recreational Products Inc. - Business segments
            • Exhibit 50:Bombardier Recreational Products Inc. - Key news
            • Exhibit 51: Bombardier Recreational Products Inc. - Key offerings
            • Exhibit 52: Bombardier Recreational Products Inc. - Segment focus
          • 10.5 Embraer SA
            • 10.6 Honeywell International Inc.
              • Exhibit 57: Honeywell International Inc. - Overview
              • Exhibit 58: Honeywell International Inc. - Business segments
              • Exhibit 59:Honeywell International Inc. - Key news
              • Exhibit 60: Honeywell International Inc. - Key offerings
              • Exhibit 61: Honeywell International Inc. - Segment focus
            • 10.7 Lockheed Martin Corp.
              • Exhibit 62: Lockheed Martin Corp. - Overview
              • Exhibit 63: Lockheed Martin Corp. - Business segments
              • Exhibit 64:Lockheed Martin Corp. - Key news
              • Exhibit 65: Lockheed Martin Corp. - Key offerings
              • Exhibit 66: Lockheed Martin Corp. - Segment focus
            • 10.8 Raytheon Technologies Corp.
              • Exhibit 67: Raytheon Technologies Corp. - Overview
              • Exhibit 68: Raytheon Technologies Corp. - Business segments
              • Exhibit 69:Raytheon Technologies Corp. - Key news
              • Exhibit 70: Raytheon Technologies Corp. - Key offerings
              • Exhibit 71: Raytheon Technologies Corp. - Segment focus
            • 10.9 Safran SA
              • Exhibit 72: Safran SA - Overview
              • Exhibit 73: Safran SA - Business segments
              • Exhibit 74:Safran SA - Key news
              • Exhibit 75: Safran SA - Key offerings
              • Exhibit 76: Safran SA - Segment focus
            • 10.10 Siemens AG
              • Exhibit 77: Siemens AG - Overview
              • Exhibit 78: Siemens AG - Business segments
              • Exhibit 79:Siemens AG - Key news
              • Exhibit 80: Siemens AG - Key offerings
              • Exhibit 81: Siemens AG - Segment focus
            • 10.11 Thales Group
              • Exhibit 82: Thales Group- Overview
              • Exhibit 83: Thales Group - Business segments
              • Exhibit 84:Thales Group - Key news
              • Exhibit 85: Thales Group - Key offerings
              • Exhibit 86: Thales Group - Segment focus
            • 10.12 The Boeing Co.
              • Exhibit 87: The Boeing Co. - Overview
              • Exhibit 88: The Boeing Co. - Business segments
              • Exhibit 89: The Boeing Co. - Key offerings
              • Exhibit 90: The Boeing Co. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 91: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 92: Research Methodology
                • Exhibit 93: Validation techniques employed for market sizing
                • Exhibit 94: Information sources
              • 11.4 List of abbreviations
                • Exhibit 95: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              The more electric aircraft market market growth will increase by $$ 2.45 bn during 2022-2025.
              The more electric aircraft market market is expected to grow at a CAGR of 2.15% during 2022-2025.
              Technavio has segmented the more electric aircraft market market by application (manned and unmanned) ,geography (North America, Europe, APAC, South America, and MEA) , and geographic (North America, Europe, APAC, South America, and MEA).
              Airbus SE, Bombardier Recreational Products Inc., Embraer SA, Honeywell International Inc., Lockheed Martin Corp., Raytheon Technologies Corp., Safran SA, Siemens AG, Thales Group, The Boeing Co. are a few of the key vendors in the more electric aircraft market market.
              APAC will register the highest growth rate of 28% among the other regions. Therefore, the more electric aircraft market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the more electric aircraft market market growth are:
              • Combined expertise expected to generate quicker results
              • Meeting power demand through the no-bleed concept
              The more electric aircraft market market vendors should focus on grabbing business opportunities from the manned segment as it accounted for the largest market share in the base year.
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