Key Emerging Trends in Global Electric Aircraft Market

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The Electric Aircraft Market was valued at USD
96.3 Million in 2017 and is projected to reach
USD 121.8 Million by 2023, at a CAGR of 4.17
during the forecast period. The objectives of
this study are to analyze the market, along with
the provision of its statistics. It also aims to
define, describe, and forecast the electric
aircraft market on the basis of the aircraft
type, technology, component, range, and region.
The year 2017 has been considered the base year
for this study, whereas 2018 to 2023 is
considered as the forecast period. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id52646445 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. 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
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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 electric aircraft
industry (especially in RD, manufacturing,
system integration, and assembly stages). Ask
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