More Electric Aircraft Industry Worth $7.3 Billion by 2027

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More Electric Aircraft Industry worth 7.3
Billion by 2027

• The More Electric Aircraft Market is projected to
  grow from USD 4.1 Billion in 2022 and reach USD
  7.3 Billion by 2027, at a CAGR of 12.6 during
  the forecast period. More electric aircraft
  (MEA) is a concept that involves using electric
  power (as opposed to pneumatic and hydraulic
  sources of power) for all non-propulsive systems
  in an aircraft.
• Electric power helps reduce an aircraft's
  overall weight,
• fuel consumption, and
• greenhouse emissions. Electrical systems also
  help cut down aircraft assembly and
  maintenance costs and

facilitate manufacturing. There
faster has
been a rapid rise in research activities for
developing commercially viable, more 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. Ask for
PDF Brochure _at_ https//www.marketsandmarkets.com/p
dfdownloadNew.asp?id138024896 Based on
application, the more electric aircraft are
segmented into power generation, power
distribution, power conversion, and energy
storage. The growth of the more electric
aircraft market globally can be attributed to the
increased focus on reducing operational costs,
emissions, and aircraft noise. Leading companies
such as Safran (France), Honeywell International,
Inc. (US), Thales Group (France), Raytheon
Technologies Corporation (US), and GE Aviation
(US) are the major companies providing more
electric aircraft systems across the globe. The
power conversion segment is projected to grow at
the highest CAGR during the forecast period. The
growth of the power conversion segment can be
attributed to the demand for efficient and
cost-effective aircraft electrical systems. 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 2021 as compared to the military
segment. Carbon and nitrogen oxide emissions,
high fuel consumption, and high maintenance
costs are some challenges in the civil aviation
industry. The regions considered for the more
electric aircraft market are North America,
Europe, Asia-Pacific, the Middle East Africa,
and Latin America. Europe is estimated to
account for the largest share of the market in
2021 and is projected to
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grow at the highest CAGR during the forecast
period. Advancements in high- density battery
solutions and the need for optimized aircraft
performance drive the more electric aircraft
market. The rise in the use of fuel cells, the
development of advanced power electronics
components, and the emergence of alternative
power sources for electric power generation are
anticipated to open several growth opportunities
for more electric aircraft systems integrators
and component manufacturers during the forecast
period. Request for Sample Report
_at_ https//www.marketsandmarkets.com/requestsampleN
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