Global Electric and Hybrid Aircraft Propulsion System Market 2019-2023 | Use of Advanced Techniques for Aircraft Construction to Fuel Growth | Technavio
LONDON--(BUSINESS WIRE)--Nov 19, 2018--The global electric and hybrid aircraft propulsion system market is expected to post a CAGR of nearly 7% during the period 2019-2023, according to the latest market research report by .
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Technavio has released a new market research report on the global electric and hybrid aircraft propulsion system market for the period 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the growing demand for light and ultralight electric aircraft. The GA segment is the driving sector for electric aircraft as manufacturers generally prefer light aircraft for testing purpose. Due to innovative programs such as Urban Air Taxi deploying very light jets for urban mobility, developments in this segment are focused on providing services within a range of about 31 miles. The developments are combined with VTOL capabilities to provide benefits such as low noise pollution and zero emissions.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the use of advanced techniques for aircraft construction as one of the key emerging trends in the global electric and hybrid aircraft propulsion system market:
Global electric and hybrid aircraft propulsion system market: Use of advanced techniques for aircraft construction
The aircraft manufacturing industry is focusing on reducing the overall weight of aircraft while maintaining or even improving their total load carrying capacity. Thus, the need to design and produce high-performance aircraft within a weight constraint is the main reason behind aircraft manufacturers using light-weight composites. Carbon fiber-reinforced polymer provides the mechanical strength of a metal and is extremely lightweight and malleable. It is revolutionizing design from existing standards to the required configurations. With the current generation of batteries weighing nearly 65% of an aircraft’s total weight, these lightweight materials will allow designers to reduce overall weight and enhance commercial viability.
“3D-printing has enabled designers to produce unconventional configurations previously thought impossible to achieve. Aircraft parts can be fully printed with the negligible waste of materials. The electric aircraft industry depends on 3D-printing for rapid production of aircraft components, which saves time, money, and space,” says a senior analyst at Technavio for research on aerospace.
Global electric and hybrid aircraft propulsion system market: Segmentation analysis
This market research report segments the global electric and hybrid aircraft propulsion system market by technology (hybrid powertrain and all-electric powertrain) and geographical regions (APAC, EMEA, and the Americas).
The hybrid powertrain segment held the largest market share in 2018, accounting for nearly 93% of the market. This technology segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2018 with a market share of nearly 47%. This region is expected to dominate the market through 2023, with an increase in its market share by over 1%.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 11/19/2018 07:43 AM/DISC: 11/19/2018 07:43 AM