Top More Electric Aircraft Companies

More Electric Aircraft Market size was valued at USD 4.74 Billion in 2023 and is poised to grow from USD 5.35 Billion in 2024 to USD 14.01 Billion by 2032, growing at a CAGR of 12.80% during the forecast period (2025-2032).

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.  'Safran S.A. (France) ', 'Honeywell International, Inc. (US) ', 'Raytheon Technologies Corporation (US) ', 'Thales Group (France) ', 'General Electric (US) ', 'Bae Systems Plc (UK) ', 'Bombardier Inc. (Canada) ', 'Embraer S.A. (Brazil) ', 'Liebherr (Switzerland) ', 'Ametek, Inc. (US) ', 'Nabtesco Corporation (Japan) ', 'Elbit Systems Ltd. (Israel) ', 'Moog Inc. (US) ', 'Astronics Corporation (US) ', 'Rolls Royce Plc (UK) ', 'Eaton (Ireland) ', 'Parker Hannifin Corp. (US) ', 'Amphenol Corporation (US) ', 'PBS Aerospace (Czech Republic) ', 'Avionic Instruments, Llc (US) ', 'Eaglepicher Technologies Llc (US) ', 'Pioneer Magnetics (US) ', 'Wright Electric (US) ', 'Magnix (US) ', 'Radiant Power Corporation (US)'

• 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.  

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.  

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.