More Electric Aircraft Market Overview and Future Trends

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More Electric Aircraft Market Growth Factors,
Opportunities, Ongoing Trends and Key Players
2025 The report "More Electric Aircraft Market by
End User (Civil, Military), Aircraft System,
Component, Application (Power Generation, Power
Distribution, Power Conversion, Energy Storage),
Aircraft Type (Fixed Wing, Rotary Wing), Region -
Global Forecast to 2025", is estimated to be USD
1.5 billion in 2020 and is projected to reach USD
3.3 billion by 2025, at a CAGR of 17.4 during
the forecast period. Recent technological
advancements in the field of power electronics,
fault-tolerant architecture, electro-
hydrostatic actuators, flight control systems,
high-density electric motors, and power
generation and conversion systems have fueled the
adoption of MEA. The COVID-19 pandemic has
impacted the more electric aircraft market
significantly. Due to the closure of borders and
air travel restrictions globally, many
companies in the more electric aircraft market
were compelled to halt manufacturing. This break
in business operations is directly influencing
the revenue of the more electric aircraft
market. Even though some industries continued
operations, delays in raw material supplies and
the limited supply of produced goods capped
production and reduced capacity utilization
rates. Download PDF Brochure _at_ https//www.markets
andmarkets.com/pdfdownloadNew.asp?id138024896 The
propulsion system is projected to grow at the
highest CAGR during the forecast period Based on
aircraft system, the more electric aircraft
market is segmented into propulsion system and
airframe system. Electrification of various
propulsion and airframe systems enables aircraft
to reduce carbon emissions and the overall
operational cost. The rising focus of major OEMs
such as Airbus on the development of electric
propulsion systems is expected to drive the
propulsion system segment during the forecast
period. The power distribution is projected to
grow at the highest CAGR during the forecast
period
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Based on application, the more electric aircraft
is segmented into power generation, power
distribution, power conversion, and energy
storage. The power distribution system is highly
flexible, fault-tolerant, and is controlled by a
redundant microprocessor system. In this system,
electrical power is supplied to the primary
power distribution system, wherein the contactor
control unit (CCU) and high-power contactor are
located across generators, auxiliary power units
(APU), batteries, and ground sources. The civil
segment accounts for the largest market size
during the forecast period Based on end user, the
more electric aircraft market is segmented into
civil and military. The civil segment is
estimated to account for a larger share in 2020
as compared to the military segment. Carbon and
nitrogen oxide emissions, high fuel consumption,
and high maintenance costs are some of the
challenges in the civil aviation segment. Europe
is expected to account for the largest share in
2020 The more electric aircraft market has been
studied for North America, Europe, Asia Pacific,
Middle East Africa and Africa. Europe is
estimated to account for the largest share of
the global market in 2020. The market is growing
at a significant pace in the Europe region,
majorly driven by the increasing air passenger
traffic. The market in Asia Pacific is projected
to grow significantly owing to high investments
in the modernization of airport and construction
of new regional airports. Key Market Players Some
of the players operating in the market include
AMETEK (US), Safran (France), Astronics
Corporation (US), Amphenol Corporation (US),
Honeywell International, Inc. (US), Meggitt
(UK), and Thales Group (France). These companies
have well-equipped strong distribution networks
across the North American, European, Asia
Pacific, the Middle East African and Latin
American regions. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
ew.asp?id138024896
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