Aircraft Electrification Market by Technology, Component, Application, System, Platform – Global Forecast to 2030 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Aircraft Electrification Market by Technology (Plus Electric, Hybrid Electric, Full Electric), Component, Application, System, Platform (Commercial, Military, Commercial and General Aviation, UAV, AAM) and Region – Forecast up to in 2030″ report has been added to from ResearchAndMarkets.com offer.

The Aircraft Electrification Market is estimated at USD 6.0 Billion in 2021 and is expected to reach USD 20.0 Billion by 2030, growing at a CAGR of 14.3%

The growth of this market is primarily driven by increased adoption of cleaner and greener aircraft, developments in advanced air mobility and alternative energy sources.

The aircraft electrification market is dominated by a few global players such as Honeywell International Inc. (USA), Safran (France), Thales Group (France), Raytheon Technologies (USA), GE Aviation (USA), United).

These players have expanded their businesses into various countries including North America, Europe, Asia-Pacific, Middle East, Africa, and Latin America. COVID-19 has also impacted their business. Industry experts estimate that COVID-19 could affect aircraft electrification production and services by 7-10% globally in 2020.

Lithium sulfur and lithium titanate batteries are fueling the battery segment which is expected to be the highest in the aircraft electrification market during the forecast period.

Based on components, the battery segment is estimated to dominate the market during the forecast period, with a share of 24.3% in 2021. Lithium-sulfur is one of the battery technologies competing for replace lithium-ion as the main battery technology of the next generation.

The ability of Li-S batteries to store and release energy provides the opportunity to create batteries that hold up to five times more charge than lithium for a given cell size and weight. Lithium titanate or lithium titanium oxide is a type of rechargeable battery, it can charge faster than other lithium ion batteries but has lower energy density.

The hybrid electric segment is expected to witness the highest CAGR during the forecast period.

Based on the technology, the hybrid electric segment is expected to be the highest CAGR rate for the aircraft electrification market during the forecast period. Hybrid electric technology uses both aircraft fuel and electricity to drive the propulsion system.

This technology helps reduce fuel consumption, power consumption, emissions and noise for single-aisle passenger aircraft. Solar power and fuel power are two types of power sources available in hybrid propulsion.

The power generation segment is expected to witness the highest CAGR during the forecast period.

Based on the applications, the power generation segment is expected to grow at the highest CAGR rate in the aircraft electrification market during the forecast period. In an aircraft, power is generated using an integrated drive generator, a variable frequency generator, an auxiliary power supply and an external ground power supply.

In conventional aircraft, power is generated using mechanical, hydraulic and pneumatic systems, while in advanced aircraft, power is generated by an electrical generator. Major aircraft manufacturers prefer in-built drive generators to variable frequency generators in large aircraft and very large aircraft because these generators are more reliable and efficient.

Business and general aviation segment is expected to witness the highest CAGR during the forecast period

Based on the platform, the business and general aviation segment is expected to grow at the highest CAGR rate in the aircraft electrification market during the forecast period.

The growth of the business and general aviation segment of the market can be attributed to rising corporate profits, increasing number of high net worth individuals, and increasing demand for business jet replacements existing by new ones.

Propulsion Systems Segment is Expected to See the Highest CAGR During the Forecast Period

Based on the system, the propulsion systems segment is expected to grow at the highest CAGR rate in the aircraft electrification market during the forecast period.

Electrification of propulsion systems is expected to increase take-off power, creating an efficient electric replacement for a regular turbojet with a 2 megawatt liquid-cooled electric motor. Electric propulsion systems are expected to significantly reduce fuel consumption, resulting in lower air emissions.

North America market is expected to contribute the largest share from 2021 to 2030

The key factor responsible for North America leading the aircraft electrification market is the strong demand for new aircraft in the region.

The growth of upcoming projects and the emergence of several startups supporting electrification in the aviation industry are additional factors influencing the growth of the North American aircraft electrification market.

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Market dynamics

Drivers

  • Low operating costs

  • Growing need for cleaner and quieter aircraft

  • Advances in batteries, electric motors and power electronics

  • Increase in demand for unmanned aerial vehicles

  • Growing demand for electrical systems in aircraft

Constraints

  • Limited range of electric aircraft

  • Power Density Limits of Electric Propulsion Technology

  • High voltage and thermal problems of aircraft electrical systems

  • Increased aircraft weight due to heavy batteries

Opportunities

  • Emergence of alternative energy sources for the production of electrical energy

  • Development of lithium-ion batteries

  • Development of advanced power electronic components

  • Emergence of Advanced Air Mobility

Challenges

  • Development of batteries with higher energy densities

  • Airport battery charging infrastructure

  • Ensuring the airworthiness of electric aircraft

Value chain analysis

  • Raw materials

  • R&D

  • Component manufacturing

  • OEM

  • end users

  • After sales services

Market ecosystem map

  • Featured companies

  • Private and small businesses

  • end users

Trends and Disruptions Impacting Customer Business

Growing Need for Cleaner and Sustainable Aircraft to Drive Market Growth

Pricing and regulatory landscape

  • European Aviation Safety Agency framework for VTOL aircraft

  • Federal Aviation Administration rules for unmanned aircraft systems

  • Federal Aviation Administration (FAA) Guidelines for Electric Motors in Aircraft

  • European Union (EU) Ecodesign Regulation

Case study analysis

  • Joby Aerospace achieves an all-electric flight with a vertical take-off electric air taxi

  • Eviation offers Alice, an electric propeller plane for 9 passengers

  • Extra Aircraft’s Extra 330Le electric plane powered by Siemens’ electric drive system

  • Rolls Royce’s first all-electric plane makes its maiden flight

  • Use of electric motors in more electric aircraft by Honeywell

  • Parker used Ametek’s hydraulic pump motor for the US Airforce’s next-generation TX jet trainer

  • Technological analysis

  • Turbogenerators for powering electric motors and batteries

  • Electric actuators

  • Fly by Wire

Industry trends

Emerging Industry Trends

  • Upcoming trends in hybrid and electric propulsion

  • Multifunctional structures for lightweight high-energy carrier storage (M-Shells)

  • Integrated computer-experimental development of Li-Air batteries for electric aircraft (Li-On)

  • High Voltage Hybrid Electric Propulsion (Hvhep)

  • Compact high power density machine enabled by additive manufacturing

  • Design Environment for New Vertical Lift Vehicles – Cryo Cooling Assist Task (Delivery)

  • Fostering ultra-efficient, low-emission aviation power (Fuelap)

  • Scalable Convergent Electric Propulsion Technology and Operations Research (Sceptor)

  • Distributed Electric Propulsion (Dep)

  • Technology Trends in Electrical Components

  • 50Kg electric motor

  • Fuel cell technology

  • Hydrogen fuel cells

  • Advanced Stacks

  • Lithium-Sulfur (Li-S)

Nasa Future Aircraft Technologies

  • Electric machines of future NASA planes

  • Nasa Future Aircraft Converters

  • Materials of future NASA planes

  • Soft magnetic materials

  • New insulation materials

  • Conductor of high conductivity copper/carbon nanotubes

  • Development of superconducting wire

  • Urban Air Mobility

  • Energy recovery

  • High power batteries and motors

  • Cyclo-Rotor Evtol

Company Profiles

  • Honeywell International Inc.

  • Saffron

  • Thales Group

  • Raytheon Technologies

  • General Electric

  • Ametek, Inc.

  • Meggitt plc

  • Bae Systems

  • Eaglepicher Technologies LLC

  • Astronic Society

  • Aerospace & Electronics Crane

  • Magnix

  • Pbs Aerospace

  • Acme Aerospace Inc. & Avionic Instruments, LLC

  • Nabtesco Corporation

  • Carlisle Interconnect Technologies

  • Hartzell Engine Technologies

  • Pioneer Magnetics

  • Radiant Power Corporation

  • Enersys

  • Crouzet Automation

  • Cts Corporation

  • Lee Air, Inc.

  • Electromechanical technologies

  • Aegis Power Systems, Inc.

For more information on this report, visit https://www.researchandmarkets.com/r/cpd57q