Aircraft Electrification Market Report: Trends, Forecast and Competitive Analysis to 2030

Aircraft Electrification Trends and Forecast

The future of the global aircraft electrification market looks promising with opportunities in the power generation, power distribution, power conversion, and energy storage applications. 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 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.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Aircraft Electrification by Segment

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

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

Aircraft Electrification Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

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

Aircraft Electrification Market Insights

Lucintel forecasts that battery 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.

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.

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.

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.

FAQ

Q1. What is the aircraft electrification market size?

Answer: The global aircraft electrification market is expected to reach an estimated $18.4 billion by 2030.

Q2. What is the growth forecast for aircraft electrification market?

Answer: The global aircraft electrification market is expected to grow with a CAGR of 15.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the aircraft electrification market?

Answer: 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.

Q4. What are the major segments for aircraft electrification market?

Answer: The future of the aircraft electrification market looks promising with opportunities in the power generation, power distribution, power conversion, and energy storage applications.

Q5. Who are the key aircraft electrification market companies?

Answer: Some of the key aircraft electrification companies are as follows:

• BAE Systems
• Astronics
• Honeywell International
• Thales
• Rolls-Royce
• Meggitt
• Ametek
• Safran
• Collins Aerospace
• MagniX

Q6. Which aircraft electrification market segment will be the largest in future?

Answer: Lucintel forecasts that battery 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.

Q7. In aircraft electrification market, which region is expected to be the largest in next 5 years?

Answer: 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.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the aircraft electrification market by component (batteries, fuel cells, electric actuators, generators, motors, power electronics, distribution devices, and others), technology (more electric, hybrid electric, and fully electric), application (power generation, power distribution, power conversion, energy storage, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?