Aircraft electrification market size to grow by USD 6,170.74 million from 2022 to 2027; Growth driven by technological advancements – Technavio

NEW YORK, April 18, 2023 /PRNewswire/ — The aircraft electrification market size is estimated to increase by USD 6,170.74 million between 2022 and 2027. The market’s growth momentum will be progressing at a CAGR of 13.94%. The market is driven by technological advancements. Factors such as the advances in electric motor technology have enabled the development of high-performance electric motors for use in aircraft. Collectively, these technological advances have enabled the development of electric and hybrid-electric aircraft with the range and performance required for commercial aviation, creating new opportunities for more sustainable air travel. These advancements are likely to lead to increased demand for aircraft electrification services, boosting the growth of the global aircraft electrification market during the forecast period. Discover some key insights on the market size and various market dynamics for the historic period (2017 to 2021) and forecast period (2023-2027) before buying the full report – Request a sample report

Global Aircraft electrification market – Vendor Analysis

The global aircraft electrification market is fragmented, with the presence of several vendors that are competing based on cost, quality, reliability, and other services. To survive and succeed in such an intensely competitive environment, it is crucial for vendors to provide cost-effective and high-quality services. Vendors must focus on a global footprint network, product offerings, investment in research and development (R&D), and a strong client base to gain an edge over their peers. The global economic recovery, R&D, and investments by vendors have opened the room for opportunity for aerospace industry players to compete and grow. Such factors will increase market growth during the forecast period. Some of the key vendors covered in the market include:

• Aegis Power Systems Inc: The company offers aircraft electrification products such as DC power converters. In addition, the company is involved in supplying AC-DC and DC-DC power supplies for customs and particular applications.
• AMETEK Inc.: The company offers aircraft electrification such as DC Brush Starter Generators.
• Astronics Corp.: The company offers aircraft electrification such as CorePower aircraft power conversion systems.
• BAE Systems Plc: The company offers aircraft electrification such as energy management systems.
• Acme Aerospace Inc and Avionic Instruments LLC
• Carlisle Companies Inc.
• Crane Co.
• General Electric Co.
• Hartzell Propeller Inc.
• Honeywell International Inc.
• Lee Air Inc.
• magniX
• Nabtesco Corp.
• Parker Hannifin Corp.
• PBS Aerospace Inc.
• Raytheon Technologies Corp.

What’s New? –

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial – Buy the report!

Global Aircraft electrification market – Segmentation Assessment

Segment Overview

Technavio has segmented the market based on platform (commercial and general, and military), technology (more electric, fully electric, and hybrid electric), and geography (Europe, North America, APAC, Middle East and Africa, and South America).

• The market growth in the commercial and general segment will be significant over the forecast period. Factors such as, the growing passenger traffic is positively impacting the development of the segment. The increasing demand for more efficient and eco-friendly aircraft to reduce their carbon footprint is driving the commercial aircraft segment. Such factors will increase segment growth during the forecast period. 

Geography Overview

The report provides actionable insights and estimates the contribution of all regions to the growth of the global aircraft electrification market.

Europe will account for 34% of the market growth during the forecast period. The region is at the forefront of efforts to reduce the carbon footprint of the aviation industry with several initiatives to encourage the development of electric and hybrid electric aircraft. The European aircraft electrification market is expected to experience strong growth due to increasing demand for fuel-efficient and environmentally friendly aircraft and increasing adoption of electric and hybrid electric propulsion systems.

The report comprises of various segments as well as analysis of the trends and

factors that are playing a substantial role in the market. – Download a Sample

Report

Global Aircraft electrification market – Market Dynamics

Key Trends – 

The rising popularity of electric aircraft is a major trend in the global aircraft electrification market. The increasing availability of advanced battery technology is essential to powering electric aircraft, which is driving the demand for electric aircraft. Battery technology has made great strides in recent years, owing to advances in technologies such as lithium-ion batteries and all-solid-state batteries. These batteries are increasingly energy dense, reliable, and affordable, which will make electric aircraft more practical and feasible. Jet engines used in electric aircraft are becoming more popular because they are quieter than regular piston engines. Therefore, commercial airlines around the world are increasingly adopting electric aircraft.

Major challenges – 

The high development cost of aircraft electrification is a major challenge for the growth of the global aircraft electrification market. Developing electric aircraft requires new infrastructure, such as charging stations, which increases development costs. Developing and building these infrastructure components can be expensive, especially if there is a lack of existing infrastructure that can be reused. The high development cost of electric aircraft is a major obstacle for new entrants. This is because it requires a large up-front investment that may not be feasible for smaller companies or start-ups. Therefore, all these factors will hinder the growth of the global aircraft electrification market during the forecast period.

Drivers, trends analysis, and challenges have a crucial impact on market dynamics,

which, in turn, can impact businesses. Find more key insights in a sample PDF report!

What are the key data covered in this aircraft electrification market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the aircraft electrification market between 2023 and 2027
• Precise estimation of the size of the aircraft electrification market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the aircraft electrification market across Europe, North America, APAC, Middle East and Africa, and South America
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of aircraft electrification market vendors

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Related Reports:

• The electric and hybrid aircraft propulsion system market is estimated to decline at a CAGR of 5.03% between 2021 and 2026. The size of the market is forecasted to increase by USD 12.1 million. The market is segmented by technology (hybrid powertrain and all-electric powertrain) and geography (Europe, North America, APAC, Middle East and Africa, and South America).
• The ultralight aircraft market is estimated to grow at a CAGR of 5.71% between 2021 and 2026. The size of the market is forecasted to increase by USD 2.61 billion. The market is segmented by end-user (civil, commercial, and military) and geography (North America, Europe, APAC, Middle East and Africa, and South America).

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Platform
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Technology
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global aircraft electrification market 2017 – 2021
• Exhibit 18: Historic Market Size – Data Table on Global aircraft electrification market 2017 – 2021 ($ million)

• 4.2 Platform Segment Analysis 2017 – 2021
• Exhibit 19: Historic Market Size – Platform Segment 2017 – 2021 ($ million)

• 4.3 Technology Segment Analysis 2017 – 2021
• Exhibit 20: Historic Market Size – Technology Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Platform

• 6.1 Market segments 
• Exhibit 30: Chart on Platform – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Platform – Market share 2022-2027 (%)

• 6.2 Comparison by Platform 
• Exhibit 32: Chart on Comparison by Platform
• Exhibit 33: Data Table on Comparison by Platform

• 6.3 Commercial and general aircraft – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Commercial and general aircraft – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Commercial and general aircraft – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Commercial and general aircraft – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Commercial and general aircraft – Year-over-year growth 2022-2027 (%)

• 6.4 Military aircraft – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Military aircraft – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Military aircraft – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Military aircraft – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Military aircraft – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Platform 
• Exhibit 42: Market opportunity by Platform ($ million)
• Exhibit 43: Data Table on Market opportunity by Platform ($ million)

7 Market Segmentation by Technology

• 7.1 Market segments 
• Exhibit 44: Chart on Technology – Market share 2022-2027 (%)
• Exhibit 45: Data Table on Technology – Market share 2022-2027 (%)

• 7.2 Comparison by Technology 
• Exhibit 46: Chart on Comparison by Technology
• Exhibit 47: Data Table on Comparison by Technology

• 7.3 More electric – Market size and forecast 2022-2027
• Exhibit 48: Chart on More electric – Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on More electric – Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on More electric – Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on More electric – Year-over-year growth 2022-2027 (%)

• 7.4 Fully electric – Market size and forecast 2022-2027
• Exhibit 52: Chart on Fully electric – Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Fully electric – Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Fully electric – Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Fully electric – Year-over-year growth 2022-2027 (%)

• 7.5 Hybrid electric – Market size and forecast 2022-2027
• Exhibit 56: Chart on Hybrid electric – Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Hybrid electric – Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Hybrid electric – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Hybrid electric – Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Technology 
• Exhibit 60: Market opportunity by Technology ($ million)
• Exhibit 61: Data Table on Market opportunity by Technology ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 Europe – Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.4 North America – Market size and forecast 2022-2027
• Exhibit 71: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027
• Exhibit 83: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027
• Exhibit 87: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 Germany – Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027
• Exhibit 95: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 China – Market size and forecast 2022-2027
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.12 France – Market size and forecast 2022-2027
• Exhibit 103: Chart on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on France – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on France – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on France – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ million)
• Exhibit 108: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Aegis Power Systems Inc. 
• Exhibit 115: Aegis Power Systems Inc. – Overview
• Exhibit 116: Aegis Power Systems Inc. – Product / Service
• Exhibit 117: Aegis Power Systems Inc. – Key offerings

• 12.4 AMETEK Inc. 
• Exhibit 118: AMETEK Inc. – Overview
• Exhibit 119: AMETEK Inc. – Business segments
• Exhibit 120: AMETEK Inc. – Key offerings
• Exhibit 121: AMETEK Inc. – Segment focus

• 12.5 Astronics Corp. 
• Exhibit 122: Astronics Corp. – Overview
• Exhibit 123: Astronics Corp. – Business segments
• Exhibit 124: Astronics Corp. – Key offerings
• Exhibit 125: Astronics Corp. – Segment focus

• 12.6 BAE Systems Plc 
• Exhibit 126: BAE Systems Plc – Overview
• Exhibit 127: BAE Systems Plc – Business segments
• Exhibit 128: BAE Systems Plc – Key offerings
• Exhibit 129: BAE Systems Plc – Segment focus

• 12.7 Crane Co. 
• Exhibit 130: Crane Co. – Overview
• Exhibit 131: Crane Co. – Business segments
• Exhibit 132: Crane Co. – Key offerings
• Exhibit 133: Crane Co. – Segment focus

• 12.8 EaglePicher Technologies LLC 
• Exhibit 134: EaglePicher Technologies LLC – Overview
• Exhibit 135: EaglePicher Technologies LLC – Product / Service
• Exhibit 136: EaglePicher Technologies LLC – Key offerings

• 12.9 General Electric Co. 
• Exhibit 137: General Electric Co. – Overview
• Exhibit 138: General Electric Co. – Business segments
• Exhibit 139: General Electric Co. – Key news
• Exhibit 140: General Electric Co. – Key offerings
• Exhibit 141: General Electric Co. – Segment focus

• 12.10 Honeywell International Inc. 
• Exhibit 142: Honeywell International Inc. – Overview
• Exhibit 143: Honeywell International Inc. – Business segments
• Exhibit 144: Honeywell International Inc. – Key news
• Exhibit 145: Honeywell International Inc. – Key offerings
• Exhibit 146: Honeywell International Inc. – Segment focus

• 12.11 Lee Air Inc. 
• Exhibit 147: Lee Air Inc. – Overview
• Exhibit 148: Lee Air Inc. – Product / Service
• Exhibit 149: Lee Air Inc. – Key offerings

• 12.12 magniX 
• Exhibit 150: magniX – Overview
• Exhibit 151: magniX – Product / Service
• Exhibit 152: magniX – Key offerings

• 12.13 Parker Hannifin Corp. 
• Exhibit 153: Parker Hannifin Corp. – Overview
• Exhibit 154: Parker Hannifin Corp. – Business segments
• Exhibit 155: Parker Hannifin Corp. – Key news
• Exhibit 156: Parker Hannifin Corp. – Key offerings
• Exhibit 157: Parker Hannifin Corp. – Segment focus

• 12.14 PBS Aerospace Inc. 
• Exhibit 158: PBS Aerospace Inc. – Overview
• Exhibit 159: PBS Aerospace Inc. – Product / Service
• Exhibit 160: PBS Aerospace Inc. – Key offerings

• 12.15 Raytheon Technologies Corp. 
• Exhibit 161: Raytheon Technologies Corp. – Overview
• Exhibit 162: Raytheon Technologies Corp. – Business segments
• Exhibit 163: Raytheon Technologies Corp. – Key news
• Exhibit 164: Raytheon Technologies Corp. – Key offerings
• Exhibit 165: Raytheon Technologies Corp. – Segment focus

• 12.16 Safran SA 
• Exhibit 166: Safran SA – Overview
• Exhibit 167: Safran SA – Business segments
• Exhibit 168: Safran SA – Key news
• Exhibit 169: Safran SA – Key offerings
• Exhibit 170: Safran SA – Segment focus

• 12.17 Thales 
• Exhibit 171: Thales – Overview
• Exhibit 172: Thales – Business segments
• Exhibit 173: Thales – Key news
• Exhibit 174: Thales – Key offerings
• Exhibit 175: Thales – Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations 
• Exhibit 182: List of abbreviations

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