Global Trends and Growth Insights in More Electric Aircraft Technology (2022 2027)

1
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ELECTRIC AIRCRAFT MARKET GLOBAL TOP 2000
STRATEGIST RELY ON US FOR THEIR GROWTH
STRATEGIES. KMNoOWreMOERlEect(/rKincowAledigrecstr
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Industry Growth Analysis Report by Application
(Power Generation, Power Distribution, Power
Conversion, Energy Storage), Aircraft Type
(Fixed Wing, Rotary Wing), Aircraft System,
Component, End User and Region - Global Growth
Driver and Industry Forecast to 2027 FREE
BROCHURE (/pdfdownloadNew.asp?id138024896) FREE
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Report Code AS 2769Nov, 2022, by
marketsandmarkets.com DESCRIPTION TABLE OF
CONTENTS METHODOLOGY DOWNLOAD PDF
(/PDFDOWNLOADNEW.ASP?ID138024896) The More
Electric Aircraft Market size is expected to grow
at a compound annual growth rate (CAGR) of 12.6
during the forecast period, reaching USD 7.3
billion by 2027 from USD 4.1 billion in 2022. The
concept of MEA involves using electric power for
non-propulsive systems instead of pneumatic and
hydraulic power sources, driven by the aviation
industry's increasing environmental concerns.
Recent technical developments in power
electronics, fault-tolerant architecture,
electro-hydrostatic actuators, flight control
systems, and high- density electric motors have
enabled the rise of the more electric aircraft
era. The adoption of this concept is crucial for
unlocking gains in aircraft weight, fuel
consumption, total life cycle costs, carbon
neutrality, maintainability, and reliability.
High-density battery solutions and optimized
aircraft performance are driving the growth of
the more electric aircraft industry
(https//www.marketsandmarkets.com/PressReleases/m
ore- electric-aircraft.asp), as airplane OEMs
collaborate with their suppliers to develop new
power-dense electrically-intensive designs. This
report provides a detailed study of the MEA
market based on application, component, aircraft
system, aircraft type, end-user, and region. It
offers a complete overview of each market segment
and the market size analysis. There has been a
rapid rise in research activities for the
development of commercially viable electric
aircraft. The main driver for these research
activities and the introduction of
technologically advanced aircraft (more electric
aircraft, hybrid electric aircraft, and fully
electric aircraft) is the advantages of aircraft
electrification, such as reduced aircraft weight,
fuel consumption, and carbon emission.
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craft electrical components are based in the US,
the UK, Germany, China, and merica are prime
distributors and component manufacturers markets,
as major s//www.marketsandmarkets.com/Market-Repo
rts/aircraft-electrification-market-
3(/)1650461.html)developments are being
undertaken in these regions. Some players
operating in the market are AMETEK (US), Safran
(France), Astronics Corporation (US), Amphenol
Corporation (US), Honeywell HInOtMeErn(/)atiAoBnO
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Asia Pacific, Middle East
Major manufacturers of air Japan. Europe and
North A aircraft electrification (http
CAREERS (/CAREER.ASP) CONTACT US
(/CONTACTUS.ASP) African, and Latin American
regions.
More Electric Aircraft Market Forecast to 2027 To
know about the assumptions considered for the
study, Request for Free Sample Report (https//www
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024896) More Electric Aircraft Market
Dynamics Driver Advancement of high-density
battery solutions for more electric aircraft
(https//www.marketsandmarkets.com/Market-Reports/
electric-aircraft-market-52646445.html) More
electric aircraft are developing different
prototypes, from delivery drones to passenger
aircraft. However, more electric aircraft are
still lacking due to a suitable batteries.
Batteries play a pivotal role in the success and
wide adoption of MEA. Lithium-ion is a developing
battery technology offering a potential solution
for aircraft propulsion. Key industry players,
such as GE Aviation, Honeywell, and BAE Systems,
have invested in developing new lithium-based
batteries with high power density. Presently,
battery technologies are in the development
stage and can supply power to small passenger
aircraft traveling short distances. Advanced
applications in aircraft tend to consume more
power, needing batteries with high-power storage
and improved
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y-market-49714593.html), various manufacturers of
energy storage systems in a, the US, and Europe
believe that the performance of lithium-ion
batteries can be erefore, significant research
funding is being undertaken to improve the
performance o(/)f lithium-ion batteries and
develop other related battery technologies. Accord
ing to Tesla CEO Elon Musk, the development of an
aircraft battery with a power density of 400 Wh/kg
Reports/lithium-ion-batter Japan, China, South
Kore improved significantly. Th
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will rapidly boost the electrification of
aircraft. Solid-state batteries are an innovative
solution for the aviation
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T UbSe(/aCOdNoTpAtCeTdUSfo.ArStPh)e operation of
various aircraft electrical systems by 2030.
Magnesium-based, lithium-based, and sodium-ion
solid-state batteries offer various advantages,
including long lifecycles and increased energy
density. The development of these batteries is
expected to boost the more electric aircraft
market over the forecast period.
Leading More Electric Aircraft companies such as
Airbus and Boeing use li-ion batteries in various
non- propulsive aircraft systems as they are
lightweight and meet required safety standards.
Significant potential in emerging markets and
adoption by leading MEA companies such as Boeing
and Airbus are creating a positive environment
for the growth of the market for Li-ion
batteries. Li-ion battery packs are fitted with
battery management systems (BMS) that enable
them to perform functions such as monitoring,
equalization, protection alarm, display, state
of charge estimation, intelligent communication,
and healthy management of batteries. Companies
manufacturing aircraft-specific li-ion batteries
include Aero Lithium Batteries (US), Sichuan
Changhong Battery Co., Ltd. (China), and
EAGLEPICHER TECHNOLOGIES (US), among
others. Restraint Huge amount of investment and
longer clearance period Every component or
product manufactured for the aviation industry
requires thorough RD. Manufacturers must invest
heavily in RD on enhanced electrical components
and systems for aircraft. Aircraft manufacturers
and OEMs need high initial capital to set up
machinery and upgrade manufacturing capabilities,
skilled workforce, state-of-the-art technical
equipment, and integration platforms.
Furthermore, the manufactured components need
approval from various authorities before they are
installed on board an aircraft. It is not easy
to obtain approval for replacing conventional
systems with electric systems in an aircraft. For
instance, in the U.S., the Federal Aviation
Administration (FAA) insists on using
conventional systems in certain aircraft
classes. The approval process can be tedious and
time-consuming, consisting of various tests and
procedures. Toyota Motor Corporation invested
USD 394 million in the aerospace business Joby
Aviation in January 2020, building an
all-electric aircraft with vertical take-off and
landing capabilities. Multiple partners
contributed a total of USD 720 million to Joby
Aviation. The significant capital need for MEA
technology makes getting finance difficult for
new market players. Thus, high capital
requirements and longer clearance period act as
major restraints for the growth of the more
electric aircraft market. Opportunity Emergence
of alternative power sources for electric power
generation Companies in the aviation industry are
striving to reduce aircraft emissions by using
fuel cells to provide electrical generation
onboard aircraft. Fuel cells can transform
chemical energy from a fuel into electricity
through a chemical reaction. The adoption of
aircraft electrification with fuel cells can save
fuel through the efficient generation of
electricity. Electric power from fuel cells can
be used for aircraft brakes, during landing and
taxiing on the ground, or when the main engines
are not operational. Research activities have
been undertaken on a possible aircraft
architecture wherein a fuel cell power unit is
used to replace the aircrafts auxiliary power
unit (APU). The APU provides most of the power
required for subsystems in flight and on the
ground. However, these units consume significant
amounts of fuel. Using fuel cells instead of APUs
to power
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cells (SOFC)
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mbrane fuel cells (PMFC) are widely used to power
aircraft systems. These fuel cells ance and
long-term durability. They can operate at high
temperatures and provide enerating additional
electric power, thus improving the system's
efficiency.
and proton exchange me provide low internal
resist high-quality waste heat, g
(/) Challenge Thermal management in electrical
systems HMOoMrEe(/)eleAcBtOrUicT aUiSrc(/rAaBfOt
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FrIeNqGSu.iHreTMdLi)n MEA is much higher than
that in a CAREERS (/CAREER.ASP) CONTACT US
(/CONTACTUS.ASP) conventional aircraft. For
instance, the overall electrical power generation
of Boeing 787 is above 1MW, while a conventional
aircraft uses less than 0.25MW. All power
management, generation, distribution, and
conversion levels in an aircraft electrical
system generate heat and require effective
thermal management. An aircraft's use of
electrical systems to optimize its performance
has a collateral increased heating effect and
therefore required an efficient thermal
management solution. Batteries, capacitors, and
other components of electrical systems need
efficient thermal management to deliver high
power effectively. Thermal management systems
need to provide high heat absorbing capacity
concerning heat generated by electrical systems.
Furthermore, the complex electrical systems that
include bipolar transistors, Variable Speed
Constant Frequency (VSCF) systems, and
converters in aircraft generate a large amount of
heat which poses a challenge in thermal
management. In order to have an efficient, more
electric aircraft system, there is a need for
optimized power conversion, distribution, and
thermal management systems, which is a major
challenge for aircraft manufacturers. Based on
aircraft system, the more electric aircraft
market size is segmented into propulsion and
airframe systems. The electrification of various
propulsion and airframe systems allows air
transportation to cut carbon emissions and
operational expenses. This is projected to lead
to greater adoption of electric aircraft in the
future years. The airframe system remains to be
the dominating segment during the forecasted
period. Based on component, the more electric
aircraft market share is segmented into engines,
batteries, fuel cells, solar cells, generators,
actuators, electric pumps, power electronics,
distribution devices, valves, and landing gear.
The generators segment is projected to grow from
USD 967 million in 2022 to USD 1,690 million by
2027, at a CAGR of 11.8 during the forecast
period. Based on the solution, the more electric
aircraft market report is segmented into
fixed-wing and rotary-wing. The increasing
awareness of the development of emission-less air
transport is a major factor driving the market.
Several governing bodies, such as ICAO and the
European Commission, have started implementing
aircraft emissions and noise pollution
regulations. These bodies are announcing plans
for emission-less air transport. The fixed-wing
segment is the largest growing segment of more
electric aircraft type during the forecasted
period.
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Regional Insights
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More Electric Aircraft Market by Region To know
about the assumptions considered for the study,
download the pdf brochure (https//www.marketsandm
arkets.com/pdfdownloadNew.asp?id138024896) The
Europe region is projected to Grow at the highest
CAGR during the forecast period For the regional
market analysis, Europe includes the UK, France,
Germany, Russia, Italy, and the rest of Europe.
The European aviation sector aims to incorporate
new modern materials with enhanced mechanical
qualities in aircraft, such as gamma-titanium
aluminides and single crystals these
sophisticated engines assist
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afety Agency (EASA), the European Defence Agency
(EDA), the UK Civil Aviation uropean Air
Transport Command are critical in ensuring
transportation safety and s carbon emissions and
noise pollution. Rolls-Royce (UK), Safran Group
(France), G(/)KN Aerospace (UK), Airbus
(Netherlands), Thales Group (France), and
Turbomeca (France) are among Europe's leading
electric aircraft manufacturers. These aircraft
manufacturers focus on many aircraft
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this region.
European Union Aviation S Authority (CAA), and
the E addressing issues such a
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The North American region held the second major
share of the More Electric Aircraft Systems
Market in 2021 The major countries considered
under this region are the US and Canada. The US
is estimated to lead the more electric market in
North America in 2021. The growth of the market
in this region can be attributed to the presence
of several large aircraft electrical systems
manufacturers such as Raytheon Technologies
Corporation (US) and Astronics Corporation (US),
and Honeywell International, Inc (US). These
players continuously invest in RD to develop
more aircraft electrical systems with improved
efficiency and reliability. They are also
focused on developing more electric aircraft
systems rather than using hydraulics in aircraft.
The aviation aerospace sector in the North
American region is also growing steadily. This
has created a significant demand for more
electric aircraft. The market's growth is also
driven by rapid growth in aircraft manufacturing,
technological advancements, and travel and
tourism. Top More Electric Aircraft Companies -
Key Market Players The more electric aircraft
companies (https//www.marketsandmarkets.com/Resea
rchInsight/more-electric- aircraft-market.asp)
are dominated by a few globally established
players such as Honeywell International Inc.
(Us), General Electric (US), Raytheon
Technologies Corporation (US), Safran S.A.
(France), and Thales Group (France). This is
also supported by their growth rates, which are
remarkably close to the market's. These
businesses provide their goods, solutions, and
services to a variety of aircraft manufacturers.
These top players' products and services are
critical in both civil and military
applications. SAFRAN S.A. Safran S.A. is the
global leader in more electric aircraft. The
company's well-established distribution network
and brand value are critical to its success.
Safran engages in three business segments
aircraft propulsion, aircraft equipment/defense/a
erosystems, and aircraft interiors. The
corporation is a prominent participant in the
electric aircraft market, with operations in
Europe, the Middle East, Asia Oceania, North
America, and Africa. HONEYWELL INTERNATIONAL,
INC. International, Inc. is another leading
player in the electric aircraft market. The
company has undergone a partnership to
strengthen its global presence. Honeywell is in
the Americas, Europe, the Middle East Africa,
and Asia Pacific. In November 2018, Honeywell
received a contract worth USD 1,036.0 million
from the US Air Force to provide logistics
support for secondary and ground-based auxiliary
power systems for multiple aircraft
types. RAYTHEON TECHNOLOGIES CORPORATION Raytheon
Technologies Corporation is ranked third in the
more electric aircraft market. Raytheon
Technologies was formed after the merger of
Raytheon Company and the United Technologies
Corporation. The company
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between Raytheon Company and oration.
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Corp Scope of the More Elect
ric Aircraft Report
(/)
Report Metric
Details
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(/CON2TA0C1T9U-S2.A0S2P7) years
Base year considered
2021
Forecast period
2022-2027
Forecast units
Value (USD Million/ Billion)
By component, application, aircraft system,
aircraft type, end-user, and region
Segments Covered
North America, Asia Pacific, Europe, the Middle
East Africa, and Latin America
Geographies Covered
Honeywell International Inc. (Us), General
Electric (US), Raytheon Technologies Corporation
(US), Safran S.A. (France), Thales Group
(France), and others
Companies Covered
More Electric Aircraft Market Highlights This
research report categorizes the more electric
aircraft market based on component, application,
aircraft system, aircraft type, end-user, and
region Report Metric Details
More Electric Aircraft Market, By Component
Engines Batteries Fuel Cells Solar Cells
Generators Actuators Electric Pumps Power
Electronics Distribution Devices Valves Landing
Gear
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Power Generation Power Distribution Power
Conversion Energy Storage
More Electric Aircraft Market, By Application
(/)
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,CBARyEESRo.AlSuPt)ionCONTACT US
(/CONTACTUS.ASPF) uel Management System Thrust
Reverser System Airframe System Environmental
Control System Accessory Driven System Landing
Gear Driven System Power Management System
Cabin Interior System Flight Control System
More Electric Aircraft Market, By Aircraft Type
Fixed Wing Narrow Body Aircraft Wide Body
Aircraft Regional Aircraft Fighter Jest Rotary
Wing Medium Helicopters Heavy Helicopters
More Electric Aircraft Market, By End-User
Civil Military
More Electric Aircraft Market, By Region
North America Europe Asia Pacific Middle East
Africa Latin Americ
Recent Developments In April 2022, Safran
Electrical Power, a subsidiary of Safran SA,
and AURA AERO (France), a digital and
environmentally friendly aircraft manufacturer,
signed a collaboration agreement to cooperate on
the architecture and electric propulsion systems
of two aircraft the INTEGRAL E training aircraft
and the ERA (Electric Regional Aircraft). The
INTEGRAL E is already projected to get around 60
orders. The first flight is scheduled for 2022,
with deliveries beginning in 2023. In April 2022,
GE Aviation chose BAE Systems to supply energy
management solutions for its newly announced
hybrid electric technology demonstrator program.
BAE Systems will develop, test, and deliver
energy management components for megawatt-class
electric aircraft as part of the NASA research
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part of the US Air Force's ongoing modernization
efforts to keep the B-52 bomber Boeing selected
Collins Aerospace, a subsidiary of Raytheon
Technologies, to with a new electric power
generation system (EPGS). Collins will supply a
modern EPGS derived from industry-leading
commercial technology. The new EPGS will upgrade
the B-52's current 70-year-old system with more
efficient technology requiring less engine power.
This will contribute
In January 2022, As flying into the 2050s,
upgrade the aircraft
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Frequently Asked Questions (FAQs)
What is the current size of the more electric aircraft market?
Who are the winners in the more electric aircraft market?
What are some of the technological advancements in the market?
What are the factors driving the growth of the
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ADJACENT MARKETS Propulsion Systems Market
(/Market-Reports/aerospace-propulsion-system-marke
t-13114028.html) Aircraft Actuators Market
(/Market-Reports/aviation-actuator-system-market-1
37846800.html) Aircraft Electrical Systems
Market (/Market-Reports/aircraft-electrical-and-en
viornmental-systems- market-1106.html) Aircraft
Electrification Market (/Market-Reports/aircraft-e
lectrification-market-31650461.html) Electric
Aircraft Market (/Market-Reports/electric-aircraft
-market-52646445.html) REQUEST BUNDLE REPORTS
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