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Aircraft Electrification Market Trends

  • Report ID: GMI7069
  • Published Date: Oct 2023
  • Report Format: PDF

Aircraft Electrification Market Trends

Electric propulsion systems including electric motors and batteries are being increasingly used in various types of aircraft, from small electric drones to urban air mobility vehicles. These systems are more energy-efficient and produce fewer emissions compared to traditional combustion engines. Hybrid-electric aircraft combine traditional gas turbine engines with electric propulsion systems. This approach reduces fuel consumption and emissions while maintaining the range & performance required for larger commercial aircraft. All-electric aircraft, such as small electric trainers and regional aircraft, use electric propulsion for all phases of flight. These aircraft are well-suited for short-haul routes and urban air mobility applications.

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Market size for aircraft electrification was USD 6.5 billion in 2022 and may over 13% CAGR between 2023 and 2032 due to the increasing awareness of climate change and the higher need to reduce greenhouse gas emissions

Aircraft electrification industry from the electric motors component segment is estimated to reach over USD 4 billion by 2032 offer numerous advantages, including high efficiency, lower maintenance requirements, reduced noise levels, and environmental benefits

The electric propulsion application segment in the aircraft electrification market is estimated to exceed USD 6 billion in revenue by 2032 due to growing government concerns and the rising technological advancements

North America industry for aircraft electrification garnered over 35% of the market share in 2022 and is expected to grow through 2032 owing to the growing government support for the development and adoption of electric aircraft through various initiatives, such as tax breaks and grants.

Aircraft Electrification Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 12
  • Tables & Figures: 291
  • Countries covered: 19
  • Pages: 300
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