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Aircraft Electrification Market Share

Report ID: GMI7069
Published Date: Nov 2024
Report Format: PDF

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Aircraft Electrification Market Share

BAE Systems, Meggitt PLC, and Thales Group are significant contributors to the aircraft electrification industry, leveraging their expertise in aerospace components and systems. BAE Systems concentrates on electrification technologies, including electric propulsion and power management systems. Meggitt PLC specializes in advanced materials and components for electric and hybrid-electric aircraft, offering energy storage solutions. Thales Group develops avionics and electrical systems, supporting aircraft electrification through innovations in power distribution, control systems, and data processing to improve electric aircraft efficiency.

Aircraft Electrification Market Companies

Major players operating in the aircraft electrification industry are:

AMETEK, Inc.
Astronics Corporation
BAE Systems
Crane Aerospace & Electronics
EaglePicher Technologies LLC
EnerSys
General Electric
Honeywell International Inc.
Lee Air, Inc.
magniX
Meggitt PLC
PBS Aerospace
Radiant Power Corporation
Raytheon Technologies
Safran
Thales Group

Authors: Suraj Gujar, Partha Paul

Frequently Asked Questions (FAQ) :

The global market size for aircraft electrification was valued at USD 8.3 billion in 2024 and is projected to reach USD 30.7 billion by 2034, driven by a CAGR of 14.2% from 2025 to 2034.

The hybrid electric segment is the fastest-growing, with a CAGR of 14.5% during the forecast period, driven by its balance between performance and sustainability.

North America market is expected to exceed USD 11.5 billion by 2034, driven by significant advancements in electric aircraft technologies and supportive federal regulations.

Major players in the industry include AMETEK, Inc., Astronics Corporation, BAE Systems, Crane Aerospace & Electronics, EaglePicher Technologies LLC, EnerSys, General Electric, Honeywell International Inc., Lee Air, Inc., and magniX.