USD 4.6 billion
More Electric Aircraft Market Size, Share, and Growth Analysis
More Electric Aircraft Market By Aircraft Type (Fixed Wing, Rotary Wing), By Platform (Commercial Aircraft, Military Aircraft), By System, By Aircraft System, By Application, By End-user, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG20A2087 |
Region:
Global |
Published Date: March, 2025
Pages:
202
|Tables:
59
|Figures:
77
Format -
More Electric Aircraft Market Insights
Global More Electric Aircraft Market size was valued at USD 4.6 billion in 2023 and is poised to grow from USD 5.12 billion in 2024 to USD 12.15 billion by 2032, growing at a CAGR of 11.4% during the forecast period (2025-2032).
Sectors such as tourism, logistics, and defense use aircraft to transport goods and passengers globally. However, in recent times, the demand for electric aircraft is increasing because the maintenance and operational expenses of conventional airplanes are extremely high. The more electric aircraft (MEA) is a technology which aims to make maximum use of electrical energy in the airplane's onboard systems. The more electric aircraft technology has several advantages to the conventional airplane such as cutting down on weight and minimizing adverse effects on the environment.
The trend of electrification of aircraft systems is being embraced in the aviation industry to solve the problems caused by conventional jet fuel powered aircraft. These electric aircraft also comply with the restraints and requirements set by aviation regulators globally. More electric aircraft are slowly replacing systems like hydraulic and pneumatic systems with electric power. This is helping them to minimize aircraft weight, reduce fuel burn, and mitigate greenhouse gas emissions. These aircraft are also decreasing assembly and maintenance expenses. During the predicted period, the global more electric aircraft market is projected to be driven by enhanced performance and the increasing need for eco-friendly airplane.
US More Electric Aircraft Market is poised to grow at a sustainable CAGR for the next forecast period.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Propulsion System
Fastest Growth
Airframe System
Growth Rate
11.4% CAGR
Global More Electric Aircraft Market ($ Bn)
Country Share for North America Region (%)
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More Electric Aircraft Market Segments Analysis
Global More Electric Aircraft Market is segmented by Aircraft Type, Platform, System, Aircraft System, Application, End-user and region. Based on Aircraft Type, the market is segmented into Fixed Wing and Rotary Wing. Based on Platform, the market is segmented into Commercial Aircraft and Military Aircraft. Based on System, the market is segmented into Aircraft Configuration and Management System, Flight Control and Mission Management System, Air Pressurization and Conditioning System, Power Generation and Management System and Others. Based on Aircraft System, the market is segmented into Propulsion System and Airframe System. Based on Application, the market is segmented into Power Generation, Power Distribution, Power Conversion and Energy Storage. Based on End-user, the market is segmented into Civil and Military. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Aircraft System
Based on aircraft system, the propulsion system segment is dominating the market with the largest more electric aircraft market share. The propulsion system enables the aircraft to gain speed in order to prevent the frictions encountered during flight. The development of new technology has enabled the development of hybrid-electric and all-electric propulsion systems for aircraft. Due to the superior characteristics of electric and hybrid-electric propulsion systems, aircraft builders are gradually integrating these modern technologies into the airplane. An aircraft powered by an electric or a hybrid-electric propulsion system is relatively quiet, emits low greenhouse gases, and performs well. Furthermore, airplanes with electrical propulsion systems increase fuel efficiency, safety, and space for passengers.
The airframe system segment is expected to grow at a significant CAGR during the forecast period. The traditional systems of aircraft structure consist of landing gears, wing control surfaces, or flight control actuators which are powered through hydraulic or pneumatic. These are heavy and complex. Shifting from these systems to the electric power mode minimizes the weight of the aircraft and enhances energy efficiency. This is because electric systems are less complex and more manageable compared to the hydraulic ones. The more electric systems approach, especially the electrical actuators for flight controls, tend to simplify the aircraft design. It also saves fuel consumption and increases the range, which is important for commercial and military aircraft. The tendency of electrifying airframe systems enhances the actuation control and response of many aircraft systems which could provide enhancement in safety and stability.
Analysis by Application
Based on application, the power distribution segment is dominating the more electric aircraft market. The power supply system of the aircraft consists of A.C. and D.C. buses, wires, and electronic control switches. The increasing utilization of innovations in electric aviation has led to the reduction of traditional mechanical systems and created an more demand for electrical components. This is successfully reducing the weight of the aircraft's wires and increasing efficiency levels. Technological progress in new materials, for example, high-temperature superconducting technologies, contributes to the reduction of the weight of an aircraft's power distribution system. Some prominent aviation companies are developing dependable and low-weight distribution systems to meet the demand for more electric aircraft.
As per more electric aircraft market analysis, power generation segment has been witnessing a huge growth. Power generators are ideal for more electric aircrafts. This is because they deliver steady and high-power output compared to hydraulic and pneumatic systems that are customarily utilized in flight control, landing gear, and environmental control systems. Growing reliance on such electric power is rapidly increasing the demand for advanced and reliable generators who can cater such power continuously. New products like permanent magnet generators and variable speed generators have enhanced power conversion efficiency and helped in attaining high voltage schemes on more electrical aircrafts to cut down energy wastes in the system.
Global More Electric Aircraft Market Analysis by Type
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More Electric Aircraft Market Regional Insights
North America is dominating with the largest more electric aircraft market share. In North America, particularly the United States, there is a growing interest in military and non-military aerial intelligence, surveillance and reconnaissance (ISR) solutions due to increasing capabilities such as autonomous features of the aerial systems. The presence of large aviation companies and growing demand for military and private aircraft are also some of the reasons why the target market of more electric aircraft in the region is constantly growing during the forecast period. In the US market, there is a growth opportunity owing to the increasing demand for military and civil aircraft. The high-level military spending of North American countries focusing on the development of advanced aircraft technologies such as unmanned aerial vehicle (UAV) capable of gathering crucial information and combating the threat is the reason for the adoption of more electric aircraft technologies in the region.
Over the course of the projected period, it is anticipated that the more electric aircraft market in Asia Pacific would expand with the highest growth rate. The existing aircraft infrastructure in the Asia-Pacific region needs improvement and renovation because traffic in that region is growing. Moreover, the growing population of that region is also anticipated to increase the market for more electric aircraft during the forecast period. The government and public as well as private aviation sectors are able to achieve remarkable development in aircraft technologies by forming coalitions, partnerships and collaborations. Besides, the progress of other sources of power such as fuel cells in that region also helps to extend the electric aircraft market.
Global More Electric Aircraft Market By Geography
- Largest
- Fastest
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More Electric Aircraft Market Dynamics
More Electric Aircraft Market Drivers
Growing Technological Innovations
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Technological advancements are one of the major drivers for the growth of the more electric aircraft market. Innovations in electric propulsion systems, energy storage technologies, and lightweight materials are improving the feasibility and performance of electric aircraft. Moreover, considerable progression has been made in battery technology, which now provides higher energy densities and faster charging times. This is vital for increasing the range and operational efficiency of electric aircraft. Developments in power electronics and electric motors are also contributing to enhanced performance and reliability of MEAs.
Increasing Cost-Efficiency of MEA
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Cost efficiency is increasing with the adoption of more electric aircraft. Conventional aircraft systems frequently involve complex mechanical components that need regular maintenance and generate high operational expenses. By shifting to electric systems, MEAs can considerably minimize maintenance requirements and related expenses due to their simpler and fewer-moving-part design. Electric propulsion systems mitigate the requirement for traditional hydraulic and pneumatic systems. This not only decreases maintenance but also lessens the overall weight of the aircraft, leading to improved fuel efficiency.
More Electric Aircraft Market Restraints
High Initial Investments and Development Expense
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One of the significant challenges facing the global more electric aircraft (MEA) market is the high initial investment and development costs associated with electric propulsion technology. The transition from traditional aircraft systems to more electric solutions involve substantial expenditures in research and development, as well as in the production of advanced components. Developing new electric propulsion systems, energy storage solutions, and lightweight materials requires significant capital investment. For many aerospace companies, especially smaller or new entrants, these costs can be a major barrier to entry.
High Technical and Safety Challenges
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The integration of more electric technologies into aircraft brings several technical and safety challenges. Electric propulsion systems and high-energy batteries are still relatively new in aviation, and ensuring their reliability and safety is crucial. Problems like battery thermal management, electromagnetic interference, and the robustness of electrical systems under different operating conditions need to be thoroughly addressed. The aviation industry has stringent safety standards, and electric aircraft must meet them to gain regulatory approval and market acceptance.
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More Electric Aircraft Market Competitive Landscape
The players in the more electric aircraft industry are aiming to push innovative R&D, enter some strategic alliances and expand their range of products to be competitive. Leading companies in the aerospace sector such as Boeing, Airbus and Lockheed Martin are investing a lot in research and development for the advancement of electric propulsion system research, improve power distribution management systems, and composites material science to enhance the aircrafts' efficiency and functionality. Besides, these manufacturers are also working with leading electrical power technology providers and academics to try and speed up the design and development of electric propulsion before embedding them in future and existing aircraft platforms. Other than this, the major players are applying their system integration and certification experience to meet the regulatory and reliability requirements on more electric aircraft.
Top Players in More Electric Aircraft Market
- Airbus (Netherlands)
- Boeing (United States)
- Honeywell International Inc. (United States)
- Thales Group (France)
- Rolls-Royce Holdings Plc (United Kingdom)
- Bombardier Inc. (Canada)
- BAE Systems (United Kingdom)
- Lockheed Martin Corporation (United States)
- Siemens (Germany)
- Elektra Solar GmbH (Germany)
- Yuneec Holding Limited (China)
- Joby Aviation (United States)
- Zodiac Aerospace (France)
- Embraer (Brazil)
- Textron Inc. (United States)
More Electric Aircraft Market Recent Developments
- In July 2023, Microchip Technology Inc. unveiled its Hybrid Power Drive (HPD) modules, which were expected to enhance flight control systems of more electrical aircraft (MEA). These modules enabled the shift from hydraulic to electric systems which aided aircraft manufacturers in weight reduction and design optimization. HPD modules were made with silicon carbide technology which increased power density while temperature performance and was ecologically sound and robust.
- Microchip also began with a 5 kVA power module that was classified under More Electric Aircraft when it first set up the modules in January 2023. The series includes a total of 12 variants of electric aircraft that have silicon carbide MOSFETs or IGBTs or both. The major purpose of these modules is to increase the operational parameters of hybrid electric aircraft systems.
- During the air show in Oshkosh in August 2023, GE Aerospace showcased the latest iteration of its hybrid electric aircraft test bench. Apart from this the company also supplied the test bench for NASA’s Electrified Powertrain Flight Demonstration (EPFD) program, in which it cooperated with Boeing and Aurora Flight Sciences. This project is intended to showcase new technologies for electric propulsion and energy management systems.
More Electric Aircraft Key Market Trends
- Growing Adoption of Hybrid-Electric Propulsion Systems: A prominent trend in the global more electric aircraft (MEA) market is the growing adoption of hybrid-electric propulsion systems. Hybrid-electric propulsion incorporates conventional jet engines with electric motors, providing a balanced approach to move towards full electric aircraft. This hybrid model uses the benefits of both systems, the efficiency and range of conventional engines and the minimized emissions and operational expense of electric motors. By combining these technologies, hybrid-electric aircraft can operate efficiently over long distances and with greater flexibility compared to fully electric aircraft.
- Growth of Collaborative Partnerships and Ecosystems: In recent times, collaborative partnerships and ecosystems involving aerospace manufacturers, technology developers, and governmental bodies are increasing. The development and deployment of more electric aircraft needs a multi-faceted approach. This includes expertise from various sectors, like aviation, energy, and materials science. Collaborative initiatives are vital for advancing technology, overcoming technical problems, and establishing the required infrastructure for more electric aircraft.
More Electric Aircraft Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the more electric aircraft industry signifies a new era in air transport technology, which involves striving enhancements that would improve fuel economy and performance while addressing emission concerns. New concepts in aircraft design based on electric and hybrid propulsion systems together with performance management technologies, are becoming cost effective solutions for existing aircraft. The growth of the market was significant, due to the requirement for companies to reduce carbon emission as well as support for environmentally friendly aviation. Major companies in the sector are focusing on the research and the development of systems that mitigate the negative impacts of aviation including electric flight controls, materials with lighter density and energy storage density. Moreover, but not exclusively, new electric engines and battery technologies are promising more effective and affordable MEA solutions.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 4.6 billion |
| Market size value in 2032 | USD 12.15 billion |
| Growth Rate | 11.4% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on More Electric Aircraft Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on More Electric Aircraft Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the More Electric Aircraft Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the More Electric Aircraft Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the More Electric Aircraft Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the More Electric Aircraft Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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