More Electric Aircraft (MEA) are equipped with more number of electrical systems. This is to minimize non-propulsive power systems, such as hydraulic, mechanical, and pneumatic systems, which results in the reduction of the aircrafts weight, increase fuel efficiency, and curb emissions. These lead to low cost of ownership and increase in reliability. Market Research Future (MRFR) in its “More Electric Aircraft Market” report states that the market is expected to grow expeditiously over the review period of 2017 to 2023.
Replacement of traditional pneumatic and mechanical systems in aircrafts and the rise in deployment of more electric aircraft are causes that are expected to induce growth for the global market of MEA. MEA provide better efficiency, and are better option for both aircraft manufacturers and carriers. Rise in global air traffic and the growing demand for new aircrafts are causes that are expected to gain high traction for the market. However, the MEA market is likely to encounter some challenges. The need for huge electric supply is identified as the major constraint for the MEA market expansion. Technical issues associated with electrical generators also need attention. But, with latest technologies that problem is likely to diminish. Another limitation on the market can be the need to regulate the huge amount of heat that is produced. However, as a solution to this problem, thermal management systems are being integrated into electric systems. Hence, the more electric aircraft market is expected to show an overall growth.
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Key players that are operating in the more electric aircraft market are Raytheon Company (U.S.), Rolls Royce (U.S.), Thales Group (France), United Technologies Corporation (U.S.), Honeywell International, Inc. (U.S.), Safran SA (France), Airbus (France), Lockheed Martin (U.S.), Boeing (U.S.), Zodiac Aerospace SA (France), and Bombardier Inc. (Canada). Eminent aircraft manufacturers, such as Airbus and Boeing, are investing in new technologies that promise to provide increase efficiency at reasonable costs. The evolving trend of more electric aircraft is likely to lay the foundation for development of all-electric aircrafts. This is intensifying the growth of the market in the years to come. The MEA market is turning to be highly competitive. Strong contenders are competing to provide products that are reliable and of improved quality, at better price. This is likely to boost the expansion of the MEA market.
- Distributor & Supplier companies
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
JetSuite, US scheduled charter operator, will be the launch partner for Zunum Aero’s hybrid-electric regional aircraft. Zunum Aero is an aviation startup backed by Boeing and JetBlue. The delivery is scheduled to start from the beginning of 2022.
The more electricity aircraft market’s segmental study is done by application and platform. By application, the market is segmented into military and commercial. The military segment is expected to direct the course of progress of the more electric aircraft market growth. In the last few years, a surge in military activities are being observed due to growing political tension among countries. The rise in need to deploy better but cost effective MEAs is anticipated to gain ground for the market in the foreseeable years. By platform, the market is segmented into rotary wing aircraft, fixed wing aircraft, and unmanned aerial vehicle (UAV).
The North America region is expected to experience a massive deployment of aircrafts pertaining to factors, such as, intensifying political tension and increase in defence activities. These is expected to draw high business for the North America market. The United Nation is estimated for an up rise. The high demand for more electric aircrafts in the US, followed by Mexico and Canada, are expected to boost the regional market in the years to come. As the demand for MEA is growing, it is resulting in their adoption in the field of aerospace. Auxiliary power units are being replaced by more efficient fuel cells for providing electricity on board.
Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/supply Chain Analysis
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List of Tables
Table 1 Global More Electric Aircraft Market: by Region, 2017-2023
Table 2 North America More Electric Aircraft Market: by Country, 2017-2023
Table 3 Europe More Electric Aircraft Market: by Country, 2017-2023
Table 4 Asia Pacific More Electric Aircraft Market: by Country, 2017-2023
Table 5 Row More Electric Aircraft Market: by Country, 2017-2023
Table 6 Global More Electric Aircraft Market, by Application by Regions, 2017-2023
List of Figures
Figure 1 Research Process of Mrfr
Figure 2 Top Down & Bottom Up Approach
Figure 3 Market Dynamics
Figure 4 Impact Analysis: Market Drivers
Figure 5 Impact Analysis: Market Restraints
Figure 6 Porter’s Five Forces Analysis
Figure 7 Value Chain Analysis
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