Aircraft electrification refers to the use of electrical systems and components in aircraft to replace traditional mechanical and hydraulic systems. The aircraft electrification market is expected to grow significantly in the coming years due to the increasing demand for fuel-efficient and environmentally friendly aircraft. The global aircraft electrification market size was USD 8.87 Billion in 2022 and is expected to register a revenue CAGR of 14.3 % during the forecast period, according to latest analysis by Emergen Research.
One of the major drivers of the aircraft electrification market is the increasing demand for fuel-efficient aircraft. The use of electrical systems and components in aircraft can significantly reduce fuel consumption and emissions, leading to cost savings and environmental benefits. The growing concern for climate change and environmental pollution is driving the demand for more sustainable aircraft solutions.
Another driver of the aircraft electrification market is the increasing demand for lighter and more efficient aircraft components. Electrical systems and components are typically lighter and more efficient than traditional mechanical and hydraulic systems, leading to weight savings and improved performance. The demand for lightweight aircraft components is driven by the need to improve aircraft fuel efficiency and reduce operating costs.
According to the International Energy Agency, the aviation sector is responsible for around 2.5% of global carbon dioxide emissions. The agency notes that the adoption of more sustainable aircraft solutions such as electrification and biofuels is essential to reduce the environmental impact of the aviation sector.
The current COVID-19 pandemic is expected to have an effect on the growth of the Aircraft Electrification industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The COVID-19 pandemic has affected several sectors of the global market, and the Aircraft Electrification sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. The report covers the impact analysis of the COVID-19 pandemic on the overall Aircraft Electrification industry.
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Key companies profiled in the report include:
Honeywell International Inc., Rolls-Royce Holdings plc, GE Aerospace, BAE Systems plc, Eaton Corporation, Raytheon Technologies Corporation, ST Microelectronics NV, Thales Group, Meggitt PLC, Crane Co., Cobham Limited, Safran SA, Teledyne Technologies Incorporated, Nidec Corporation, Calnetix Technologies, LLC., Lufthansa Group, Diehl Stiftung & Co. KG and others
Key Questions Answered by the Report:
Which region is expected to dominate the market in the coming years?
What are the recent technological and product advancements occurring in the market?
What are the key strategies adopted by the prominent players in the Aircraft Electrification market?
What are the key product types and applications of the Aircraft Electrification industry?
What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
How is the competitive landscape of the Aircraft Electrification market?
Who are the key players in the industry?
What is the growth rate of the industry over the coming years?
What will be the valuation of the Aircraft Electrification Market by 2027?
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Market Segmentation
-
Aircraft Type Outlook (Revenue, USD Billion; 2019-2032)
- Fixed Wing
- Commercial Aircraft
- Business Aircraft
- Regional Jets
- General Aviation
- Military Aircraft
- Fixed-Wing UAVs
- Rotary-Wing
- Military Helicopter
- Civil Helicopter
- Rotary Wing UAVs
- Fixed Wing
-
Technology Outlook (Revenue, USD Billion; 2019-2032)
- Conventional
- Hybrid Electric
- Fully Electric
-
Component Outlook (Revenue, USD Billion; 2019-2032)
- Integrated Circuits (ICs)
- Microprocessors and Microcontrollers
- Sensors
- Actuators
- Batteries
- Wiring and Connectors
- Communication Systems
- Generators
- Transformers
- Inverters
- Others
Regional Analysis:
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
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ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type applications
Chapter 9: Current and Future Trends
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