JERSEY CITY, N.J., July 27, 2022 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Aircraft Electrification Market” By Component (Solar Cells, Batteries, Fuel Cells, Electric Actuators, Electric Pumps, and Others), By Technology (More Electric, Hybrid Electric, and Fully Electric), By Application (Power Generation, Power Distribution, Power Conversion, and Energy Storage), By Platform (Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), and Advanced Air Mobility), and By Geography. According to Verified Market Research, the Aircraft Electrification Market size was valued at USD 6.04 Billion in 2021 and is projected to reach USD 21.0 Billion by 2030, growing at a CAGR of 14.8 % from 2022 to 2030.
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Browse in-depth TOC on “Aircraft Electrification Market”
202 - Pages
126 – Tables
37 – Figures
Global Aircraft Electrification Market Overview
The size of the global aircraft fleet and air traffic are both predicted to grow, which will cause pollution levels to increase even more. In order to assist minimize the carbon footprint, there is a desire for electric aircraft. Organizations and governing bodies like the Federal Aviation Administration, the International Civil Aviation Organization, and the European Union Aviation Safety Agency have called for sustainable alternatives to aviation fuel because they predict a three-fold increase in aircraft-generated emissions. Manufacturers who electrify aeroplanes do so in an effort to increase efficiency by switching out hydraulically controlled systems for electric ones.
Businesses in the aviation sector are working to cut aeroplane emissions by using fuel cells to generate electricity inside planes. Through a chemical process, fuel cells are able to convert chemical energy from a fuel into electricity. By producing energy with efficiency, fuel can be saved by converting aeroplanes to electric propulsion using fuel cells. When the main engines are not running, electric power from fuel cells can be used for the brakes of the aircraft as well as for landing and taxiing on the ground.
Key Players
The major players in the market are Honeywell International Inc., Safran S.A., Thales Group, United Technologies Corporation, GE Aviation, Avionic Instruments, LLC, AMETEK Inc., Meggitt PLC, BAE Systems, and Radiant Power Corporation.
Verified Market Research has segmented the Global Aircraft Electrification Market On the basis of Component, Technology, Application, Platform, and Geography.
- Aircraft Electrification Market, By Component
- Solar Cells
- Batteries
- Fuel Cells
- Electric Actuators
- Electric Pumps
- Others
- Aircraft Electrification Market, By Technology
- More Electric
- Hybrid Electric
- Fully Electric
- More Electric
- Aircraft Electrification Market, By Application
- Power Generation
- Power Distribution
- Power Conversion
- Energy Storage
- Aircraft Electrification Market, By Platform
- Fixed Wing
- Rotary Wing
- Unmanned Aerial Vehicles (UAVs)
- Advanced Air Mobility
- Aircraft Electrification Market, by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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