Electric Aircraft Market

1
Electric Aircraft Market Expected to Reach
121.8 Million by 2023, at a CAGR of 4.17 from
2018 to
2023 Exclusive Report by MarketsandMarkets
According to the new market research report on
the "Electric Aircraft Market by
Aircraft Type (Ultralight Aircraft, Light Jet),
Component (Battery, Electric Motor),
Technology
(Hybrid
and
All
Electric), Range (Less than 500 Km
and More than 500 Km), and
Region - Global Forecast to 2023",
The
electric
aircraft
market
is
projected to grow from an estimated
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 over
traditional aircraft are driving the
Electric Aircraft Market.
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Target Audience for this Report
?   Manufacturers
of
Electric
aircraft
?   Providers
or
Suppliers
of
Electric
Aircraft
Parts
?   Manufacturers
of
Sub
-
Components
?   Retailers, Distributors,
and
Wholesalers
of
Electric
Aircraft
?   Technology
Support
Providers
?   Manufacturers
of
Defense
Components
?   Manufacturers
of
Aerospace
Components
?   System Integrators
?   Governmental
Bodies
Based on range, the less than 500 km segment is
projected to lead the electric
aircraft market during the forecast period
Based on the range, the less than 500 km segment
is expected to lead the electric aircraft
market during the forecast period. Aircraft
can achieve higher range with the
introduction of advanced and high capacity
batteries in the market. As a result, the
electric aircraft with increased range were
launched for commercial use. The ultralight
electric aircraft available in the market mostly
have range from 0 to 500 km. These
aircraft are used for recreational and training
purposes.
2
Based on component, the battery segment of the
electric aircraft market is
projected to witness the highest growth during
the forecast period
Based on component, the battery segment of the
electric aircraft market is projected to
witness the highest growth during the forecast
period. Batteries and other storage
devices can be installed in the primary structure
of the electric aircraft most electric
powered aircraft use lithium-ion batteries. These
batteries are economic and can be
scaled to build larger systems of several hundred
kWh energys capacity.
The Europe region is expected to lead the
electric aircraft market during the
forecast period from 2018 to 2023
The Europe region is expected to lead the
electric aircraft market during the forecast
period. The aircraft 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 pollution.
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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.
Dont miss out on business opportunities in
Electric Aircraft Market. Speak to our
analyst and gain crucial industry insights that
will help your business grow.
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3
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