The report "More Electric
Aircraft Market by Technology (Power Electronics,
Thermal Management, Energy Storage & Others), Application (Power
Generation, Passenger Comfort, Air Pressurization & Others) Platform (Fixed
Wing, Rotary Wing), and Region - Global Forecast to 2021", The
more electric aircraft market is projected to grow from USD 7.68 Billion in
2016 to USD 10.94 Billion by 2021, at a CAGR of 7.33% from 2016 to 2021.
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72 market data tables and 60 figures spread through 142 pages and in-depth TOC
on “More Electric Aircraft Market - Global
Forecast to 2021”
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Decrease in aircraft operating
and maintenance cost, reduction in carbon emission and airport noise, and the need
for optimized aircraft performance are the major factors driving the more
electric aircraft market. The use of electric power in airframe systems saves
fuel and helps in cost reduction. The more electric aircraft architecture also
helps in reducing maintenance costs as it requires fewer moving or non-moving
parts, as compared to the conventional aircraft systems. These factors have led
to the manufacturing of aircraft engines and architecture with improved
electric components.
Power electronics segment
projected to lead the more electric aircraft market during the forecast period
Based on technology, the power
electronics segment is expected to account for the largest market share during
the forecast period. The more electric aircraft uses electrical energy instead
of hydraulic, pneumatic, and mechanical means to power virtually all its
subsystems, including flight control actuation, environmental control system,
and utility function. Power electronics help improve both the generator’s
(mechanical to electric) and actuator’s (electric to mechanical) energy
conversions and also enable better energy regeneration. Power electronics also
helps in reducing weight, is easier to maintain, and provides more
controllability and intelligence which includes fault detection and diagnosis.
Power generation
management segment expected to grow at the fastest rate during the forecast
period
Power generation and management
plays an important role in the more electric aircraft architecture. With the
growing aircraft electrical system power levels, the diversity of the power
generation types is increasing as well. Upcoming advanced technologies and
increasing application of more electric architecture for different functions by
various OEMs in their aircraft are expected to propel the demand for power
generation management systems during the forecast period.
North America estimated
to be the largest market for more electric aircraft
North America is estimated to
lead the more electric aircraft market, owing to technological advancements in
more electric aircraft and presence of key players, such as General Electric
Co. (U.S.) and United Technologies Corporation (U.S.) in the region. Economic
growth, expansion of commercial & military aviation, and space missions by
various space agencies are factors driving the North American more electric
aircraft market. Growth of the North American more electric aircraft market in
military aviation application can be attributed to the growing military
modernization programs, which include increased procurement of spacecraft,
manned & unmanned aircraft, and helicopters, among others.
General Electric Co. (U.S.),
United Technologies Corporation (U.S.), Rolls-Royce Holdings plc. (U.K.), and
Honeywell International, Inc. (U.S.), are the key players operating in the more
electric aircraft market. A market share analysis has been carried out by
tracking all products of key market players, their geographical presence, and
recent developments.
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