What is More Electric Aircraft?
The More Electric Aircraft underlines the utilization of electrical power to drive the non-propulsive aircraft systems. The aircraft is powered by electricity, almost always via one or more electric motors that drive propellers, which may be supplied by a variety of methods like batteries or solar cells. It is developed in order to reduce noise, fuel consumption, and carbon emission. In today’s time, the aviation industry is rapidly moving towards the MEA concept and replacing the hydraulic and pneumatic systems equipping current aircraft with electrical systems.
The market study is broken down by Type (Power Electronics, Thermal Management and Energy Storage), by Application (Power Generation, Air Pressurization, Power Distribution and Power Conversion) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Manufacturers from United States will contribute to the maximum growth of Global More Electric Aircraft market throughout the predicted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Safran Group (France), Collins Aerospace (United States), The Boeing (United States), The Airbus (France), Honeywell International (United States), United Technologies (United States), Thales Group (France), Zodiac Aerospace (France), Raytheon (United States) and Tttech Computertechnik (Austria) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global More Electric Aircraft market by Type, Application and Region.
On the basis of geography, the market of More Electric Aircraft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-user, the sub-segment i.e. Commercial Aviation will boost the More Electric Aircraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In August 2021, US manufacturer Parker Hannifin announced the acquisition of UK-based aerospace company Meggitt. Meggitt produces a variety of aircraft components, including brakes, fire and safety systems, power and sensing systems, fuel systems, composites, and polymer seals. The Acquisition will help Parker Hannifin to expand and develop core product lines, add new capabilities and enable innovations on more electric, low-carbon, and other key technologies.
- Growing Technological Advancements and Development of innovative Electronic Systems
- Increasing Demand to Optimize Aircraft Performance, Decrease Operating, and Maintenance Costs, and Reduce Fuel Consumption
- Increasing Initiatives by Military Aviation for Converting Most of the Pneumatic and Hydraulic Systems in the Electrical Systems
- High Investment for the Installation of Electrical Systems and Long Clearance Period
- The Electronic Power Motors Installed in the Electric Aircraft are Heavier
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, More Electric Aircraft Providers, Aircraft Manufacturers, Raw materials Suppliers & Manufacturers of Electric Components, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-users and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Safran Group (France), Collins Aerospace (United States), The Boeing (United States), The Airbus (France), Honeywell International (United States), United Technologies (United States), Thales Group (France), Zodiac Aerospace (France), Raytheon (United States) and Tttech Computertechnik (Austria) etc.
2. Can we have customized study for More Electric Aircraft Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of More Electric Aircraft Market by 2026?
Analysts at AMA estimates More Electric Aircraft Market to reach USD Million by 2026.