News on U.S. government agencies, U.S. politics, companies doing business with U.S. federal government. Read U.S. national and local news. This site is not affiliated with United States Government.
Press release distribution service
Home : U.S. Government News Search Engine                          

Home > U.S. Government News > Marketplace :
Home: United State Government News
Home | News | Submit Press Release |

Aircraft Electrification Market - Technological Breakthroughs Analysis in Next Few Years


(USGovernment-News.Com, February 04, 2020 ) The aircraft electrification market is estimated to be USD 3.4 billion in 2022 and is projected to reach USD 8.6 billion by 2030, at a CAGR of 12.2% from 2022 to 2030.

Download PDF Brochure

The aircraft electrification market report provides an analysis of the market from 2022 to 2030. It discusses industry and technology trends prevailing in the market, along with the drivers, restraints, challenges, and opportunities. The 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% during the forecast period. The market in the Asia Pacific is expected to witness substantial growth during the forecast period, especially in countries such as China and Japan, due to the increasing emphasis on emission-less flying in the region. Additionally, the need for reduction in noise and operating cost is also a significant factor attributed to the growth of the market during the forecast period.

Based on technology, the hybrid electric aircraft segment is expected to witness higher growth in the aircraft electrification market by 2030. The hybrid electric technology uses both airplane fuel as well as electricity to drive the propulsion system. It offers several benefits, which include reduction in fuel burn, energy consumption, emissions, and noise for single-aisle passenger aircraft. Solar-powered and fuel-powered are two types of power sources available in hybrid electric propulsion.

Based on platform, the business & general aviation aircraft segment is projected to drive the market for aircraft electrification. Increasing developments for the electrification of shorter range aircraft is driving the market for the business & general aviation segment. A majority of the developments are being undertaken for business & general aviation aircraft due to the availability of limited capacity batteries in the current market. Several initiatives announced by governing bodies towards the development of emission-less domestic air travel is further expected to drive the growth of the market for business & general aviation aircraft. For instance, Norway has undertaken initiatives so as to enable all short-haul flights to be electric aircraft by 2040.

Based on technology, the more electric aircraft market is estimated to lead the market in 2022. The growing need to optimize aircraft performance has been a catalyst in boosting the growth of the more electric aircraft (MEA) market. The hybrid electric segment of the market is projected to grow at the highest CAGR, followed by the fully electric segment over the forecast period. The growth of the market for hybrid electric aircraft across the globe can be attributed to the advantages offered by electric aircraft for airliners, including reduced consumption of fuel and lower maintenance.

Based on region, the aircraft electrification market is segmented into five regions, namely, North America, Europe, Asia Pacific, Middle East, and Latin America. The market in the Asia Pacific is projected to grow at the highest CAGR during the forecast period due to the increasing air passenger traffic and emphasis on emission-less flying across countries such as China and Japan, among others. Due to the increasing awareness for reductions in emissions in air transport, demand for aircraft electrification is expected to grow at a rapid pace during the forecast period, which offers potential for aircraft electric component manufacturers in this region.

View Detail TOC @


Mr. Shelly Singh


Source: EmailWire.Com


U.S. Governement News: Politics
  • Presidential Elections
  • Democrates
  • Congress
  • House of Representatives
  • President Obama
  • Republican Party
  • Mitt Romney
  • U.S. Senate
  • U.S. Military
  • U.S. Politics
  • Politics Video Feeds

    U.S. Government Resource Center
    We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including:

    Point of Beginning
    Overall Labor Effectiveness (OLE) Achieving a Highly Effective Workforce

    No credit cards, coupons, or promo codes required. Try it today!

    USGovernment-News.Com is a news service of GroupWeb Media LLC