Latest News- Aircraft Electrification Market: Commercial and general aircraft is expected to lead the Platform segment during 2024-2028

The Aircraft Electrification Market is being driven by Increase in technological advancements

The Aircraft Electrification Market is expected to grow at a CAGR of 18.52% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10198.7 million. The aviation sector is experiencing a significant shift towards more sustainable and eco-friendly operations, with electric aircraft emerging as a promising solution to reduce carbon emissions and noise pollution. This trend is driving substantial investment from companies, including start-ups like Eviation, developing all-electric commuter aircraft, and established players such as Airbus and Boeing, working on their respective electric aircraft projects. Furthermore, the market for electric vertical takeoff and landing (eVTOL) aircraft is gaining traction, with applications in urban air mobility. These advancements in aircraft electrification are poised to revolutionize the aviation industry, offering lower operating costs and a reduced carbon footprint. 

Get more information on Aircraft Electrification Market by requesting a sample report

Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Platform
  • Commercial and general aircraft
  • Military aircraft
• Technology
  • More electric
  • Fully electric
  • Hybrid electric
• Geography
  • Europe
    • Germany
    • UK
    • France
  • North America
    • US
  • APAC
    • China
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in technological advancements
• Electric and hybrid-electric aircraft have lower operating costs
• Government incentives for development of electric and hybrid-electric aircraft

However, the market also witnesses some limitations, which are as follows:

• High development cost of aircraft electrification
• Limited manufacturing capacity
• Regulatory framework for electric aircraft

Benefits of Buying Global Aircraft Electrification Market Research Report by Technavio

Rich Experience: 20+ years leading global market research, trusted insights across industries.

Unlock Business Potential with Technavio: Maximize ROI with Technavio's tailored market research: deep dives and actionable insights.

Your Guide to Market Success: Empower your business with Technavio's market research and future-proof your decisions.

Market Scope in Aircraft Electrification Market Research Report

Find out which segment is leading the market by accessing the free PDF report

Research Analysis Overview

The aircraft electrification market is experiencing significant growth due to the increasing adoption of electric aircraft. Maintenance requirements for these new aircraft differ from traditional fuel-powered ones, focusing more on electric propulsion systems and energy storage systems. Operational cost efficiency is a major driver for airlines and operators, leading to the shift towards electric and hybrid electric aircraft. Aerospace companies are developing power electronics and maintenance protocols for these moving parts, with STMicroelectronics being a key player. Airports are investing in charging points to support the growing fleet of electric aircraft, contributing to sustainable air travel. The aviation industry aims to reduce emissions, noise, and fuel consumption through aircraft electrification. Business jets and general aviation segments are also exploring electric propulsion systems for their benefits.

Market Research Overview

The Aircraft Electrification Market represents a segment within the broader Aerospace and Defense industry, focusing on the development and implementation of electric aircraft and related systems. Key players include manufacturers and providers of electric propulsion systems, as well as airlines and operators. This market shift towards electrification aims to reduce operational costs and maintenance requirements, particularly through the elimination of traditional fuel and the reduction of moving parts. Maintenance protocols are evolving to accommodate these new technologies, with a focus on electrical systems and components. The aviation industry's transition to more sustainable air travel is a significant driver for the growth of this market. The global Aircraft Electrification Market size is calculated based on the combined revenue generated by manufacturers, providers, airlines, and operators within the commercial and general aviation and defense sectors, as part of the larger Capital Goods Market within the Aerospace and Defense industry.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/