Latest News:Global Electric Aircraft Market is estimated to reach USD 138.8 Billion by 2027
GLOBAL ELECTRIC AIRCRAFT MARKET: Summary
The Global Electric Aircraft Market is estimated to reach USD 138.8 Billion by 2027 at a CAGR of 3.5 %.
Electric aircraft are aircraft powered by electric motors. Ground power cables, batteries, solar cells, fuel cells, ultracapacitors, and power beaming are various methods used for supplying electricity to aircraft. The use of electric aircraft possesses advantages such as efficiency, reliability, reduce noise pollution, and better environmental effects, and among others which have made electric aircraft more popular.
ELECTRIC AIRCRAFT MARKET: Drivers & Restraints
- Reducing Greenhouse Gas Emission
Aviation is one of the fastest growing sources for greenhouse gas emissions. Carbon dioxide is the largest component of aircraft emission. This eliminated gas mixes with the atmosphere causing global warming. However, changing the earth’s climate has shifted the focus towards a more efficient and cleaner form of transport, which in turn has boosted the use of electric aircraft. According to the International Air Transport Association (IATA), 2% of global carbon emission is by commercial aviation. Electric aircraft will help to reduce 50% of CO2 emission by reducing fuel use. Furthermore, aerospace firms are taking initiatives to reduce the growing contribution to greenhouse gas emission, by replacing the fuel engine with electric engines. Thus, the use of electric aircraft has helped to reduce greenhouse gas emissions, boosting the growth of the electric aircraft market.
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- Increasing Initiatives to Reduce Fuel Consumption
According to Our World In Data, the global fossil fuel consumption in 2017 was 1,33,853.38 TWh, while their production is expected to decline as these are non-renewable energy resources. Reduce fuel consumption is one of the major concern in the aviation industry. However, the use of electric aircraft helps to reduce the fuel cost significantly, while simultaneously saving from hazardous fuel waste. Additionally, oil production price has peaked in recent year which has developed the need to replace the use of conventional fuel. However, electricity is cheaper than conventional fuel and has been incorporated in aircraft. Thus, owing to these factors, initiatives are made to reduce the fuel consumption which has expected to boost the growth of the electric aircraft market.
- Significant Investment Incurred in Development of Electric Aircrafts
Research institutions such as NASA, and others along with aerospace firms are making investments in developing more efficient electric aircraft. Investment is required in different stages of the electric aircraft industry such as in research & development, system integration, manufacturing, and assembly stages. However, investment required in these stages are relatively higher owing to the higher precision required during the manufacturing of electric aircraft. Thus, investment incurred in development of electric aircraft may hinder the growth of market.
ELECTRIC AIRCRAFT Market: Key segments
- Based on Type: Light Jet, and Ultra-light Jet
- Based on Technology: All Electric, Full Hybrid, and More Electric Hybrid
- Based on Application: Electric Motor, Batteries, Power Electronics, and Others
- Key Regions Covered: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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ELECTRIC AIRCRAFT Market: Report SCOPE
The report on the electric aircraft market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2019–2027Base Year for Market Calculation2019Forecasted Period2019–2027 (2020 estimated year, forecasted up to 2027)Measured UnitsValue (USD Million), Volume (Units)Segments IncludedType, Technology, Component, and RegionRegional CoverageNorth America, Europe, Asia-Pacific, Middle East & Africa, and South America
KEY Companies Covered
- Eviation Aircraft (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Pipistrel Group
- AMPAIRE INC.
- Bye Aerospace
- Zunum Aero
- Airbus S.A.S.
- Volta Volaré, Inc.
- Lilium GmbH
- Other Key Companies
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ELECTRIC AIRCRAFT Market: report segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Electric Aircraft Market, by Type
- Light Jet
- Ultra-light Jet
Electric Aircraft Market, by Technology
- All Electric
- Full Hybrid
- More Electric Hybrid
Electric Aircraft Market, by Component
- Electric Motors
- Power Electronics
Electric Aircraft Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 Electric Aircraft Market By Type, Market Size In Usd Million & Units (2019–2027)
7 Electric Aircraft Market By Technology, Market Size In Usd Million & Units (2019–2027)
8 Electric Aircraft Market By Component, Market Size In Usd Million & Units (2019–2027)
9 Electric Aircraft Market By Region, Market Size In Usd Million & Units (2019–2027)
10 Competitive Landscape
11 Company Profiles
About Forencis Research
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