The More Electric Aircraft Market is projected to grow from USD 4.1 Billion in 2022 and reach USD 7.3 Billion by 2027, at a CAGR of 12.6% during the forecast period. More electric aircraft (MEA) is a concept that involves using electric power (as opposed to pneumatic and hydraulic sources of power) for all non-propulsive systems in an aircraft. Electric power helps reduce an aircraft's overall weight, fuel consumption, and greenhouse emissions. Electrical systems also help cut down aircraft assembly and maintenance costs and facilitate faster manufacturing. There has been a rapid rise in research activities for developing commercially viable, more electric aircraft. The main driver for these research activities and the introduction of technologically advanced aircraft (more electric aircraft, hybrid electric aircraft, and fully electric aircraft) is the advantages of aircraft electrification, such as reduced aircraft weight, fuel consumption, and carbon emission.
Ask for PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=138024896
Based on application, the more electric aircraft are segmented into power generation, power distribution, power conversion, and energy storage. The growth of the more electric aircraft market globally can be attributed to the increased focus on reducing operational costs, emissions, and aircraft noise. Leading companies such as Safran (France), Honeywell International, Inc. (US), Thales Group (France), Raytheon Technologies Corporation (US), and GE Aviation (US) are the major companies providing more electric aircraft systems across the globe. The power conversion segment is projected to grow at the highest CAGR during the forecast period. The growth of the power conversion segment can be attributed to the demand for efficient and cost-effective aircraft electrical systems.
Based on end-user, the more electric aircraft market is segmented into civil and military. The civil segment is estimated to account for a larger share in 2021 as compared to the military segment. Carbon and nitrogen oxide emissions, high fuel consumption, and high maintenance costs are some challenges in the civil aviation industry.
The regions considered for the more electric aircraft market are North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Europe is estimated to account for the largest share of the market in 2021 and is projected to grow at the highest CAGR during the forecast period. Advancements in high-density battery solutions and the need for optimized aircraft performance drive the more electric aircraft market. The rise in the use of fuel cells, the development of advanced power electronics components, and the emergence of alternative power sources for electric power generation are anticipated to open several growth opportunities for more electric aircraft systems integrators and component manufacturers during the forecast period.
Request for Sample Report @
https://www.marketsandmarkets.com/requestsampleNew.asp?id=138024896
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
However, high amount of investment and longer ROI might hinder the market growth.
The domain experts who have planned the report have thoroughly studied the global More Electric Aircraft market and have catered reliable and accurate data.They recognize the needs of the industry and the clients, which makes it simple for them to focus on the aspects, which the clients have been looking for.
The long-term success and growth opportunities can be examined by bull’s eye through tracking the on-going process improvements linked with financial aspects and to be decisive to invest in the most favorable strategies.
The data is presented in the precise fashion that includes tabular format to get a thorough glimpse for the reader to understand while reading the research report.
The report further mentions the recent development such as new product/service launch and mergers & acquisitions.Key questions of the More Electric Aircraft MarketWhich are the leading innovation sellers of the global More Electric Aircraft market?What are the obligations of driving innovation merchants?By what means will experts play a crucial role in the global More Electric Aircraft market?What are the noteworthy patterns of the global More Electric Aircraft market?What are the vital technology segments of the global More Electric Aircraft market?Market Segmentation:Major Classifications of More Electric Aircraft Market by Type:By TechnologyPower ElectronicsThermal Management SystemsSafety Systems & Advanced MaterialEnergy Storage DevicesBy Application More Electric Aircraft Market Segmented in to:Power Generation ManagementPassenger ComfortAir Pressurization & ConditioningConfiguration ManagementFlight Controls & OperationsFor better understanding while reading the analysts has included segmentation on the basis of product type and application.
Each segment is explained with deep-insights which have been recorded with careful thoughts for the rapid change in market dynamics.Inquire more or share questions if any before the purchasing this report: https://www.esticastresearch.com/report/more-electric-aircraft-market/#customizationRegional SegmentationThe separate chapter on geography explains the superiors at the regional level and several factors that help them to keep them in lead.
The more electric aircraft (MEA) initiative highlights the deployment of electrical power in place of hydraulic, pneumatic, and mechanical power to optimize the performance and life cycle cost of the aircraft.
The MEA requires high reliability, fault-tolerant, autonomously controlled electrical power system to provide higher quality power and electrical levels to the aircraft's loads.The aviation industry is focusing on hybrid-electric propulsion as well as all-electric propulsion.
Hybrid architecture is one of the solutions for the industry to reduce weight, fuel burn, and environmental impact, particularly by avoiding the requirements to design the main combustion engine to meet maximum power requirements, for example, at take-off.The research is based on extensive primary interviews (in-house experts, industry leaders, and market players) and secondary research (a host of paid and unpaid databases), along with the analytical tools that have been used to build the forecast, and the predictive models.The non-propulsive aircraft systems such as actuation, de-icing, and air-conditioning have been relying on mechanical, hydraulic, and pneumatic sources of power.
These systems have conventionally been powered by the aircraft engines, with power generated through various mechanisms such as hydraulic and electric systems, which gain power from mechanical conversion through the engine gearbox, whereas pneumatic power is generated by engine compressor air bleed systems.Request for the Sample Report at: https://bisresearch.com/requestsample?id=941=downloadIn a more electric aircraft (MEA), the aircraft employs more electrical equipment in place of systems that would earlier have been mechanical, hydraulic, or pneumatic.
The B737 became the first aircraft which introduced electrical cabin equipment and avionics.
After this, MEA trend followed the introduction of the fly by wire (FBW) system in the Airbus A320 in the late 1980s.
