Aircraft Electrification Market On A 10-Year Rise

By Mat Dirjish

MarketsandMarkets’ current report, “Aircraft Electrification Market by Technology, Application, System, Component, Platform, Region – Global Forecast to 2030” sees the aircraft-electrification market on an upswing over the next 10 years. The researchers estimate the market to be worth $3.4 billion in 2022 and predict a rise to $8.6 billion by 2030, growing at a CAGR of 12.2% from 2022 to 2030.

The need to eliminate dependency on fossil fuels with a move towards emission-less flying are factors driving market growth. Other findings include:

  • In terms of technology, the “more electric” aircraft segment will account for the largest market share in 2022.
  • Hybrid electric segment set to grow at the highest CAGR, followed by fully electric aircraft.
  • Power distribution segment to account for the largest share in 2022.
  • Asia Pacific market to grow at the highest CAGR from 2022 to 2030.
  • Top players in the aircraft electrification market include Honeywell International Inc. (US), Safran (France), Thales Group (France), United Technologies Corporation (US), and GE Aviation (US).

Need more details on this electrifying research? Then take a look at the “Aircraft Electrification Market” report. If interested in purchasing a copy, you can make an inquiry before buying.

Stay ahead of the wave of aviation market news, applications, and innovations by signing up for Sensors Daily Newsletters. It’s free, fast, and incredibly easy. And for a media kit that provide unique and effective sponsorship opportunities, contact Michael Mitchell via email.