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Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Aircraft Electrification Market is Projected to Grow from USD 3.4 Billion in 2022 to USD 8.6 Billion by 2030, at a CAGR of 12.2% - ResearchAndMarkets.com

February 11, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Feb 11, 2020--

The “Aircraft Electrification Market by Technology (More Electric, Hybrid Electric, Fully Electric), Application, System, Component (Batteries, Fuel Cells, Actuators, Generators, Power Electronics, Distribution Devices), Platform, Region - Global Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

Increasing emphasis on the reduction of emissions and aircraft noise is driving market growth

The increasing need to reduce carbon emissions and control environmental pollution are expected to drive demand. However, the limited range and capacity of electric aircraft are limiting the overall growth of the market.

Based on system, the propulsion systems segment is projected to lead the aircraft electrification market by 2030

Based on system, the propulsion systems segment is projected to lead the aircraft electrification market by 2030. The penetration of electric components in propulsion systems is projected to enhance the power for take-off, thereby enabling the replacement of turbofans with liquid-cooled electric motors. The adoption of electrical propulsion systems is majorly attributed to the increasing emphasis on reduction in burning fuel, leading to a substantial decrease in atmospheric emissions.

Based on platform, the business & general aviation segment is projected to grow at the highest CAGR in the aircraft electrification market over the forecast period

The business & general aviation segment is expected to witness higher growth compared to other segments in the aircraft electrification market. The significant market growth of the segment is attributed to increasing aircraft electrification projects for domestic air transport. The increasing focus of governing bodies on the reduction of emissions in domestic air transport is driving the market for the business & general segment.

Europe is estimated to account for the largest share of the market in 2022 Government bodies such as the European Union Aviation Safety Agency (EASA), the European Defence Agency (EDA), the UK Civil Aviation Authority (CAA), and the

European Air Transport Command, among others, plays a crucial role in ensuring transportation safety and addressing various issues related to air transport such as carbon emissions and noise pollution, among others. The presence of key manufacturers of electric aircraft in Europe including Rolls-Royce (UK), Safran Group (France), GKN Aerospace (UK), Airbus (Netherlands), Thales Group (France), and Turbomeca (France), among others are driving the growth of the aircraft electrification market in Europe.

Reasons to buy this report:

This report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall aircraft electrification market and its subsegments. The report covers the entire ecosystem of aircraft electrification in the aviation industry and will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, challenges, restraints, and opportunities.

Key Topics Covered:

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Study Scope

1.4 Currency

1.5 Limitations

1.6 Market Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Research Approach & Methodology

2.3 Triangulation & Validation

2.4 Research Assumptions

2.5 Risk Analysis

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Aircraft Electrification Market

4.2 Aircraft Electrification Market, By System

4.3 Aircraft Electrification Market, By Platform

4.4 Aircraft Electrification Market, By Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.2 Restraints

5.2.3 Opportunities

5.2.4 Challenges

6 Industry Trends

6.1 Introduction

6.2 Aircraft Electrification Roadmap 2016 to 2040

6.3 Electric and Hybrid Aircraft Programs in 2019

6.4 Upcoming Trends in Hybrid and Electric Propulsion

6.5 Electric Component Technology Trends

6.6 Nasa Concept Electric Aircraft Programs

6.7 Nasa Future Aircraft Technologies

7 Aircraft Electrification Market, By Technology

7.1 Introduction

7.2 More Electric

7.3 Hybrid Electric

7.4 Fully Electric

8 Aircraft Electrification, By Application

8.1 Introduction

8.2 Power Generation

8.3 Power Distribution

8.4 Power Conversion

8.5 Energy Storage

9 Aircraft Electrification Market, By System

9.1 Introduction

9.2 Propulsion Systems

9.3 Aircraft Systems

10 Aircraft Electrification Market, By Component

10.1 Introduction

10.2 Batteries

10.3 Fuel Cells

10.4 Solar Cells

10.5 Electric Actuators

10.6 Electric Pumps

10.7 Generators

10.8 Motors

10.9 Power Electronics

10.10 Distribution Devices

11 Aircraft Electrification Market, By Platform

11.1 Introduction

11.2 Commercial Aviation

11.3 Military Aviation

11.4 Business & General Aviation

12 Regional Analysis

12.1 Introduction

12.2 North America

12.3 Europe

12.4 Asia Pacific

12.5 Middle East

12.6 Latin America

13 Competitive Landscape

13.1 Introduction

13.2 Competitive Leadership Mapping

13.3 Ranking of Key Players, 2019

13.4 Competitive Scenario

14 Company Profiles

14.1 Honeywell International Inc.

14.2 Safran

14.3 Thales Group

14.4 United Technologies Corporation

14.5 GE Aviation

14.6 Raytheon Company

14.7 Ametek

14.8 Meggitt PLC.

14.9 BAE Systems

14.10 Radiant Power Corporation

14.11 Eaglepicher Technologies, LLC

14.12 Astronics Corporation

14.13 Pioneer Magnetics

14.14 Esterline Technologies (Transdigm Group)

14.15 Crane Aerospace & Electronics

14.16 Hartzell Engine Technologies

14.17 PBS Aerospace

14.18 Nabtesco Corporation

14.19 Avionic Instruments, LLC

14.20 Carlisle Interconnect Technologies

For more information about this report visit https://www.researchandmarkets.com/r/5syc5d

View source version on businesswire.com:https://www.businesswire.com/news/home/20200211005935/en/

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SOURCE: Research and Markets

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PUB: 02/11/2020 02:06 PM/DISC: 02/11/2020 02:06 PM