Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "Aircraft Electrification Market Report: Trends, Forecast and Competitive Analysis to 2030" report has been added to ResearchAndMarkets.com's offering.
The global aircraft electrification market is expected to reach an estimated $18.4 billion by 2030 with a CAGR of 15.5% from 2024 to 2030.
The future of the market looks promising with opportunities in the power generation, power distribution, power conversion, and energy storage applications. The major drivers for this market are growing demand for environmentally friendly and less noisy airplanes, escalating request for electrical components in aviation, and continuous progress in the development of electric propulsion systems for aircraft.
The study includes a forecast for the global aircraft electrification by component, technology, application, and region.
Aircraft Electrification Market by Component [Shipment Analysis by Value from 2018 to 2030]:
- Batteries
- Fuel Cells
- Electric Actuators
- Generators
- Motors
- Power Electronics
- Distribution Devices
- Others
Batteries will remain the largest segment over the forecast period due to its various advancement, such as high-energy-density batteries, and electric aircraft that can carry more people and goods over greater distances.
Aircraft Electrification Market by Technology [Shipment Analysis by Value from 2018 to 2030]:
- More Electric
- Hybrid Electric
- Fully Electric
Aircraft Electrification Market by Application [Shipment Analysis by Value from 2018 to 2030]:
- Power Generation
- Power Distribution
- Power Conversion
- Energy Storage
- Others
Within this market, power distribution will remain the largest segment due to the increasing adoption of electric systems to enhance efficiency, reduce weight, and improve overall aircraft performance.
Aircraft Electrification Market by Region [Shipment Analysis by Value from 2018 to 2030]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
North America will remain the largest region over the forecast period due to substantial demand for new aircraft and emergence of multiple aircraft startups in the region.
List of Aircraft Electrification Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies aircraft electrification companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the aircraft electrification companies profiled in this report include:
- BAE Systems
- Astronics
- Honeywell International
- Thales
- Rolls-Royce
- Meggitt
- Ametek
- Safran
- Collins Aerospace
- MagniX
Features of the Global Aircraft Electrification Market
- Market Size Estimates: Aircraft electrification market size estimation in terms of value ($B).
- Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
- Segmentation Analysis: Aircraft electrification market size by component, technology, application, and region in terms of value ($B).
- Regional Analysis: Aircraft electrification market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
- Growth Opportunities: Analysis of growth opportunities in different components, technologies, applications, and regions for the aircraft electrification market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the aircraft electrification market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
For more information about this report visit https://www.researchandmarkets.com/r/2ul040
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
