Aircraft Electrification Market Report

The global aircraft electrification market is expected to expand at a healthy rate due to the increasing pressure on the airline industry to reduce its carbon footprint. The rising trend of emissions-less flying and increasing research activities focusing on the development of electric aircrafts could significantly add to the demand for aircraft electrification.

Transition to Alternative Aircraft Propulsion Technology Likely to Increase Demand

The global demand for aircraft electrification is anticipated to improve as governments and the airline industry continue to take efforts to reduce aircraft noise pollution. Another factor driving the growth of the global aircraft electrification market could be the rising need to bring down the rate of carbon emissions from aircrafts. Aeronautics and aerospace research organizations such as NASA are investing in the research and development of electrified aircraft propulsion systems to improve the economics for short-range and small aircrafts, the efficiency of transport-class aircraft, and the levels of aircraft carbon emissions.

Market Segments

By Platform

●   Business and General Aviation

o   Light Aircrafts

o   Passenger Aerial Vehicles

o   Helicopters

o   Business Jets

●  Military Aviation

o   Fighter Jets

o   Unmanned Aerial Vehicles

o   Multi-mission Aircrafts

●  Commercial Aviation

o   Narrow Body Aircrafts

o   Regional Transport Aircrafts

o   Wide Body Aircrafts

By Application

●  Power Generation

●  Energy Storage

●  Power Conversion

●  Power Distribution

By Component

●  Batteries

●  Distribution Devices

●  Fuel Cells

●  Power Electronics

●  Solar Cells

●  Electric Actuators

●  Motors

●  Generators

●  Electric Pumps

By System

●  Aircraft Systems

●  Propulsion Systems

By Technology

●  Fully Electric

●  Hybrid Electric

o   Fuel Cell Powered

o   Battery Powered

o   Solar Powered

●   More Electric

The business and general aviation industry is expected to create lucrative sales prospects for aircraft electrification companies. This could be due to the growing government focus on reducing airplane emissions during both domestic and international air travel. Among technology segments, more electric is anticipated to exhibit impressive growth in the global aircraft electrification market. The demand for more electric aircraft could improve on the back of the need to reduce aircraft emissions, enhance dispatch reliability, cut down aircraft maintenance and operating costs, and optimize aircraft performance.

By Region

Asia Pacific is predicted to grow at a fast rate in the global aircraft electrification market. Some of the factors that could be crucial for the growth of the Asia Pacific market are increase in the number of airline networks, high demand for low-cost airlines, and heavy investments in aerospace and defense assets. Nonetheless, Europe is expected to gain a remarkable share of the global aircraft electrification market mainly due to the implementation of stringent emissions regulations, presence of important players, and high demand for electric vehicles.

Players to Strategically Partner with Aerospace Companies to Increase Competitiveness

The report includes deep company profiling of popular players in the global aircraft electrification market, viz. Honeywell International Inc., Carlisle Interconnect Technologies, Safran, Avionic Instruments, LLC, Thales Group, Nabtesco Corporation, United Technologies Corporation, PBS Aerospace, GE Aviation, Hartzell Engine Technologies, Crane Aerospace & Electronics, Raytheon Company, Esterline Technologies (Transdigm Group), Ametek, Pioneer Magnetics, Meggitt PLC, Astronics Corporation, BAE Systems, EaglePicher Technologies, LLC, and Radiant Power Corporation.

Companies are expected to form strategic partnerships, joint ventures, and collaborations to strengthen their position in the global aircraft electrification market. In February 2019, Safran and Boeing announced their joint venture to service, build, and design advanced auxiliary power units for aircrafts.

The automotive industry has undergone myriad changes over the past century. It has stirred a revolution, setting in motion trends that have completely transformed the transportation industry. Digitalization has drastically helped business models evolve by leaps and bounds. Major developments in the emerging economies have provided the automotive and transportation industry is a massive boost in recent years.

Increasing investments in automobile manufacturing, especially in the developing countries, strengthening trade and business opportunities, and growing e-commerce has all made its contribution towards shaping the automotive and transportation industry. Our reports take a detailed look at the various factors driving this industry and assess the lucrative opportunities for the players in the near future. The reports discuss the future of artificial intelligence, Internet of Things, vehicle-to-vehicle communication, and autonomous vehicles with utmost objectivity. The next-generation technological advancements and changing outlooks of the players have been studied with unbiased scrutiny for a clear picture of the trajectory of the industry.