Business Opportunities and Future Growth of More Electric Aircraft Market

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The report "More Electric Aircraft Market by
Technology (Power Electronics, Thermal
Management, Energy Storage Others),
Application (Power Generation, Passenger Comfort,
Air Pressurization Others) Platform (Fixed
Wing, Rotary Wing), and Region - Global Forecast
to 2021", The more electric aircraft market is
projected to grow from USD 7.68 Billion in 2016
to USD 10.94 Billion by 2021, at a CAGR of 7.33
from 2016 to 2021.
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crease in aircraft
operating and
maintenance cost, reduction in carbon emission
and airport noise, and the need for optimized
aircraft performance are the major factors
driving the more electric aircraft market. The
use of electric power in airframe systems saves
fuel and helps in cost reduction. The more
electric aircraft architecture also helps in
reducing maintenance costs as it requires fewer
moving or non-moving parts, as compared to the
conventional aircraft systems. These factors have
led to the manufacturing of aircraft engines and
architecture with improved electric
components. Power electronics segment projected
to lead the more electric aircraft market during
the forecast period Based on technology, the
power electronics segment is expected to account
for the largest market share during the forecast
period. The more electric aircraft uses
electrical energy instead of hydraulic,
pneumatic, and mechanical means to power
virtually all its subsystems, including flight
control actuation, environmental control system,
and utility function. Power electronics help
improve both the generators (mechanical to
electric) and actuators (electric to mechanical)
energy conversions and also enable better energy
regeneration. Power electronics also helps in
reducing weight, is easier to maintain, and
provides more controllability and intelligence
which includes fault detection and
diagnosis. Power generation management segment
expected to grow at the fastest rate during the
forecast period Power generation and management
plays an important role in the more electric
aircraft architecture. With the growing aircraft
electrical system power levels, the diversity of
the power generation types is increasing as
well. Upcoming advanced technologies and
increasing application of more electric
architecture for different functions by various
OEMs in their aircraft are expected to propel the
demand for power generation management systems
during the forecast period. Major vendors in the
global more electric aircraft market, are Safran
SA (France), Rolls Royce (US), Raytheon Company
(US), and Honeywell International, Inc., among
others. Key players operating in the
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more electric aircraft market include United
Technologies Corporation (US), Thales Group
(France), Zodiac Aerospace SA (France), and
Honeywell International, Inc. (US). Firms, such
as Airbus (France), Boeing (US), Lockheed Martin
(US), and Bombardier Inc. (Canada). North America
estimated to be the largest market for more
electric aircraft North America is estimated to
lead the more electric aircraft market, owing to
technological advancements in more electric
aircraft and presence of key players, such as
General Electric Co. (U.S.) and United
Technologies Corporation (U.S.) in the region.
Economic growth, expansion of commercial
military aviation, and space missions by various
space agencies are factors driving the North
American more electric aircraft market. Growth
of the North American more electric aircraft
market in military aviation application can be
attributed to the growing military modernization
programs, which include increased procurement of
spacecraft, manned unmanned aircraft, and
helicopters, among others. General Electric Co.
(U.S.), United Technologies Corporation (U.S.),
Rolls-Royce Holdings plc. (U.K.), and Honeywell
International, Inc. (U.S.), are the key players
operating in the more electric aircraft market. A
market share analysis has been carried out by
tracking all products of key market players,
their geographical presence, and recent
developments. Request for Free Workshop _at_
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