According to the latest report by IMARC Group, titled “More Electric Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global more electric aircraft market size reached US$ 1.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.92 Billion by 2027, exhibiting a growth rate (CAGR) of 16.30% during 2022-2027.

More Electric Aircraft Industry Definition and Application:

More electric aircraft (MEA) refers to the efficient airplane system that utilizes advanced electrical power to operate an aircraft by replacing generic pneumatic and hydraulic equipment. It is cost-effective and comprises a hybrid, fixed, and rotary wing. It is safe and comfortable while emitting lower greenhouse gas (GHG) emissions and has lesser assembling and maintenance costs. Besides this, it provides better functioning and reduced complexity, vulnerability, and redundancy as compared to conventional aircraft. As it is widely employed in civil and military purposes, the demand for MEA is increasing across the globe.

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More Electric Aircraft Market Trends and Drivers:

At present, the rising demand for light, efficient, and high-power density generators and motors represents one of the primary factors strengthening the market growth. Besides this, the growing demand for MEA due to the rapid adoption of flyby wire systems, along with technological advancements in aircraft power generation and conversion systems, is offering a positive market outlook. Apart from this, the increasing demand for the optimization of aerodynamic structures and engine in the MEA is bolstering the growth of the market. Moreover, the rising demand for MEA, as it reduces noise pollution and emissions, is offering lucrative growth opportunities to industry investors. Furthermore, key players are introducing a compact fly-by-wire system that eliminates the need for heavy pushrods, control cables, or hydraulics and enhances the stability of the aircraft. 

More Electric Aircraft Market Segmentation:

The report has segmented on the basis on application, technology, aircraft type and region.

Breakup by Application:

• Air Pressurization and Conditioning
• Configuration Management
• Flight Control Operations Management
• Power Generation Management
• Power Distribution Management
• Others

Breakup by Technology:

• Safety Systems and Advanced Materials
• Power Electronics
• Energy Storage Devices
• Thermal Management Systems
• Others

Breakup by Aircraft Type:

• Fixed Wing (Narrow Body/Wide Body/Very Large Body) Aircraft
• Rotary Wing Aircraft
• Unmanned Aerial Vehicles
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

Competitive Landscape:

• Airbus SE,
• Bombardier Inc.
• Honeywell International Inc.
• Lockheed Martin Corporation
• Raytheon Technologies Corporation
• Rolls-Royce Holdings Plc
• Safran S.A.
• Thales Group
• The Boeing Company
• TTTech Computertechnik AG
• United Technologies Corporation

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