Electric Aircraft Market Growing at the Fastest Rate in APAC and North America Region

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The Electric Aircraft Market is projected to grow
from USD 99.3 Million in 2018 to USD 121.8
Million by 2023, at a CAGR of 4.17 from 2018 to
2023. Low cost of ownership of electric aircraft
and advantages of electric
aircraft traditional aircraft are driving the
market. The electric aircraft market has been
segmented based on aircraft type, component,
technology, range, and region. Based on the
aircraft type, this market has been segmented
into ultralight aircraft and light jet. The
ultralight aircraft segment is expected to lead
the market in 2018. The ownership of ultralight
aircraft is cost-effective due to the simplistic
design and construction of these aircraft. With
the increase in fuel prices, the demand for
ultralight aircraft is expected to increase for
training purposes. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id52646445 Based on the component, this
market has been segmented into battery, electric
motor, and others. The others segment include
electric ducted fans and power electronics.
Power electronics are used to power all crucial
aircraft components, including flight control
actuation, environmental control systems, utility
functions, and cabin pressurization, which were
conventionally controlled by hydraulic and
pneumatic means. Electric ducted fans use
multiple propeller blades attached to a single
electric motor in an aircraft. Based on
technology, the electric aircraft market has
been segmented into hybrid and all electric. The
all electric segment of the market is projected
to lead during the forecast period. The trend
for the all-electric aircraft is growing over the
forecast period as aircraft OEMs collaborate
with their suppliers to design new systems that
hybridize traditional propulsion systems and
implement new electrical-intensive
architectures. Based on region, the electric
aircraft market is segmented into North America,
Europe, Asia Pacific, and Rest of the World
(RoW). Europe is expected to lead the market in
2018, the aircraft and its component industry in
Europe is aiming to use new advanced materials,
such as gamma-titanium aluminides and single
crystals, with improved mechanical properties,
these advanced engines help aircraft reduce
its fuel consumption, carbon emissions and noise,
among others. The significant investment incurred
in the development of different types of electric
aircraft is a major factor restraining the
growth of the market across the globe.
Significant investments are required at different
stages of the value chain of the
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electric aircraft industry (especially in RD,
manufacturing, system integration, and assembly
stages). Products offered by various companies
operating in the electric aircraft market are
listed in the report. The recent developments
section of the report provides information on
the strategies adopted by various companies
between November 2011 and October 2018 to
strengthen their positions in the market. Key
Market Players Major players in the electric
aircraft market include Zunum Aero (US), Yuneec
International (China), PC Aero (Germany),
Pipistrel (Italy), Eviation Aircraft (Israel)
Lilium (Germany), Schempp-Hirth (Germany),
Volta-Volaré (US), Bye Aerospace (US) and
Electric Aircraft Corporation (US) among others.
These companies have significant geographic
reach and distribution channels. Ask for Sample
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