Global Strategic Business Report on Aircraft Electrification

Dublin, Oct. 2, 2024 (GLOBE NEWSWIRE) — The “Aircraft Electrification – Global Strategic Business Report” has been supplemented ResearchAndMarkets.com Offer.

The global aircraft electrification market was valued at $6.8 billion in 2023 and is expected to reach $15.1 billion by 2030, growing at a CAGR of 12% from 2023 to 2030.

The move towards aircraft electrification is driven by the need to reduce carbon emissions, increase energy efficiency and reduce dependence on fossil fuels, which are becoming increasingly important as the global aviation industry looks for sustainable growth paths. Electrification not only promises to reduce operating costs through lower fuel consumption and maintenance, but also aims to significantly reduce the environmental impact of air travel by reducing noise levels and emissions.

How are technological advances shaping the aircraft electrification movement?

Technological advances are at the heart of aircraft electrification efforts. Innovations in battery technology, electric motors and power electronics are critical to addressing the challenges associated with electric propulsion, including energy density, safety and reliability. Developments in superconducting materials and hybrid-electric systems also play a critical role, providing opportunities to improve the efficiency and performance of electrical systems while addressing the weight penalties typically associated with electrical components.

Additionally, advances in software and digital systems enable more sophisticated energy management and operational efficiency by integrating various subsystems into the aircraft to optimize power consumption and distribution in real time.

What are the biggest challenges in aircraft electrification?

Despite the potential benefits, aircraft electrification faces significant challenges that must be addressed to achieve widespread adoption. One of the main obstacles is the current limitation of battery technology, particularly in terms of energy density and weight, which significantly impacts the range and payload capability of electric aircraft. Safety concerns related to high-voltage electrical systems and battery fires also present significant challenges and require strict standards and innovative solutions to ensure reliability and passenger safety.

Additionally, the lack of existing infrastructure to support electric aircraft, such as B. Charging stations at airports and maintenance facilities equipped to handle electrical systems further facilitate the transition from traditional aircraft designs.

What are the growth drivers for the aircraft electrification market?

The growth of the aircraft electrification market is driven by several factors, including strict global regulations on carbon emissions that are pushing the aviation industry to adopt cleaner technologies. Rising fuel prices are also a significant economic driver as airlines look for more fuel-efficient technologies to reduce operating costs. In addition, public and government pressure for greener transportation has led to increased investment and funding for research and development in electric aviation solutions.

The increasing interest in urban air mobility solutions such as drones and electric vertical take-off and landing (eVTOL) aircraft for commercial and personal transportation in crowded urban centers is providing a significant boost to the industry. Technological breakthroughs in related areas such as autonomous flight and advanced materials are further enabling this shift by making electric aircraft more practical and attractive. These drivers, combined with evolving consumer behavior towards sustainability, ensure that aircraft electrification remains a key focus for innovation and development in the aerospace sector.

Key Takeaways:

• Market Growth: Understand the significant growth trajectory of the aircraft distribution equipment segment, which is expected to reach $3.9 billion by 2030, at a compound annual growth rate of 14.3%. The Aircraft Power Electronics segment is also expected to grow at a CAGR of 10.1% during the analysis period.
• Regional Analysis: Gain insights into the US market, valued at $1.9 billion in 2023, and China, which is expected to grow at an impressive 16.6% annually to $3.4 billion by 2030. Dollar is forecast. Discover growth trends in other key regions including Japan and Canada, Germany and Asia Pacific.

Why you should buy this report:

• Detailed Market Analysis: Get access to a comprehensive analysis of the global aircraft electrification market, covering all major geographical regions and market segments.
• Competitive Insights: Get an overview of the competitive landscape, including the market presence of key players in different regions.
• Future Trends and Drivers: Understand the key trends and drivers shaping the future of the global aircraft electrification market.
• Actionable insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key questions answered:

• How is the global aircraft electrification market expected to develop by 2030?
• What are the key drivers and restraints affecting the market?
• Which market segments will grow the most during the forecast period?
• How will the market shares of different regions and segments change by 2030?
• Who are the leading players in the market and what are their prospects?

Reporting features:

• Comprehensive market data: Independent analysis of annual sales and market forecasts in millions of US dollars from 2023 to 2030.
• Detailed Regional Analysis: Detailed insights into key markets including the US, China, Japan, Canada, Europe, Asia Pacific, Latin America, the Middle East and Africa.
• Company Profiles: Coverage of key players such as Airbus Sas, Astronics Corporation, BAE Systems PLC and more.
• Free Updates: Receive one year of free report updates to keep you up to date on the latest market developments.

Key attributes:

Main topics covered:

MARKET OVERVIEW

• World market trends
• Aircraft electrification – percentage market share of key global competitors in 2024 (E)
• Competitive market presence – strong/active/niche/trivial for players worldwide in 2024 (E)

Market trends and drivers

• Advances in battery technology are driving the development of electric aircraft
• Hybrid-electric designs expand the feasibility of electrified aircraft
• The demand for lower operating costs is driving the introduction of electric drives
• Innovations in superconducting materials are improving the efficiency of electric motors
• Growth in urban air mobility creates new opportunities for electrified aircraft
• Lightweight material innovations to support aircraft electrification
• Public and private funding supports electric aircraft development projects
• Consumer demand for greener travel options is influencing market dynamics

FOCUS ON SELECTED PLAYERS (52 total featured):

• airbus
• Astronics
• BAE Systems
• Crane Aerospace & Electronics
• Cyient
• Eaton Corporation
• Evade
• GE Aerospace
• Honeywell Aerospace Technologies
• Honeywell International
• magniX USA
• Moog
• Parker Hannifin
• Rolls Royce
• SAFFRAN Group

For more information about this report, see

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• Aircraft electrification market