Aircraft Electrification Industry Worth $8.6 Billion by 2030 - Key Players are Safran, Honeywell, Thales, United Technologies, GE Aviation, and Raytheon

07/02/2020 08:15

Source: PR News

DUBLIN, Feb. 7, 2020 /PRNewswire/ -- The "Aircraft Electrification Market by Technology (More Electric, Hybrid Electric, Fully Electric), Application, System, Component (Batteries, Fuel Cells, Actuators, Generators, Power Electronics, Distribution Devices), Platform, Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global aircraft electrification market is projected to grow from US$ 3.4 billion in 2022 to US$ 8.6 billion by 2030, at a CAGR of 12.2%. The increasing need to reduce carbon emissions and control environmental pollution are expected to drive demand. However, the limited range and capacity of electric aircraft are limiting the overall growth of the market.

Key players in the market include Safran (France), Honeywell International, Inc. (US), Thales Group (France), United Technologies Corporation (US), GE Aviation (US), and Raytheon Company (US), among others.

Based on system, the propulsion systems segment is projected to lead the aircraft electrification market by 2030

Based on system, the propulsion systems segment is projected to lead the aircraft electrification market by 2030. The penetration of electric components in propulsion systems is projected to enhance the power for take-off, thereby enabling the replacement of turbofans with liquid-cooled electric motors. The adoption of electrical propulsion systems is majorly attributed to the increasing emphasis on reduction in burning fuel, leading to a substantial decrease in atmospheric emissions.

Based on platform, the business & general aviation segment is projected to grow at the highest CAGR in the aircraft electrification market over the forecast period

The business & general aviation segment is expected to witness higher growth compared to other segments in the aircraft electrification market. The significant market growth of the segment is attributed to increasing aircraft electrification projects for domestic air transport. The increasing focus of governing bodies on the reduction of emissions in domestic air transport is driving the market for the business & general segment.

Europe is estimated to account for the largest share of the market in 2022

Government bodies such as the European Union Aviation Safety Agency (EASA), the European Defence Agency (EDA), the UK Civil Aviation Authority (CAA), and the European Air Transport Command, among others, plays a crucial role in ensuring transportation safety and addressing various issues related to air transport such as carbon emissions and noise pollution, among others. The presence of key manufacturers of electric aircraft in Europe including Rolls-Royce (UK), Safran Group (France), GKN Aerospace (UK), Airbus (Netherlands), Thales Group (France), and Turbomeca (France), among others are driving the growth of the aircraft electrification market in Europe.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Aircraft Electrification Market
4.2 Aircraft Electrification Market, By System
4.3 Aircraft Electrification Market, By Platform
4.4 Aircraft Electrification Market, By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Low Operational Costs
5.2.1.2 Reduced Emission and Aircraft Noise
5.2.2 Restraints
5.2.2.1 Limited Range of Electric Aircraft
5.2.3 Opportunities
5.2.3.1 Emergence of Alternative Power Sources for Electric Power Generation
5.2.3.2 Development of Lithium-Ion Batteries
5.2.3.3 Development of Advanced Power Electronics Components
5.2.4 Challenges
5.2.4.1 Reliability of Electrical Systems in Harsh Environments
5.2.4.2 Electrification of Large Commercial Jets

6 Industry Trends
6.1 Introduction
6.2 Aircraft Electrification Roadmap 2016 to 2040
6.3 Electric and Hybrid Aircraft Programs in 2019
6.4 Upcoming Trends in Hybrid and Electric Propulsion
6.4.1 Multifunctional Structures for High-Energy Lightweight Loadbearing Storage (M-Shells)
6.4.2 Integrated Computational-Experimental Development of Li-Air Batteries for Electric Aircraft (Li-On)
6.4.3 High Voltage Hybrid Electric Propulsion (HVHEP)
6.4.4 Compact High Power Density Machine-Enabled By Additive Manufacturing
6.4.5 Design Environment for Novel Vertical Lift Vehicles - Cryocooling HEP Task (Deliver)
6.4.6 Fostering Ultra-Efficient, Low-Emitting Aviation Power (Fueleap)
6.4.7 Scalable Convergent Electric Propulsion Technology and Operations Research (Sceptor)
6.5 Electric Component Technology Trends
6.5.1 50kg Electric Motor
6.5.2 Fuel Cell Technology
6.5.3 Advanced Batteries
6.5.3.1 Lithium-Sulfur (LI-S)
6.5.4 Distributed Electric Propulsion (DEP)
6.6 Nasa Concept Electric Aircraft Programs
6.7 Nasa Future Aircraft Technologies
6.7.1 Nasa Future Aircraft Electric Machines
6.7.2 Nasa Future Aircraft Converters
6.7.3 Nasa Future Aircraft Materials
6.7.3.1 Soft Magnetic Materials
6.7.3.2 New Insulation Materials
6.7.3.3 High-Conductivity Copper/Carbon Nanotube Conductor
6.7.3.4 Development of the Superconducting Wire

7 Aircraft Electrification Market, By Technology
7.1 Introduction
7.2 More Electric
7.2.1 The Growing Need to Optimize Aircraft Performance Boosts Growth of the More Electric Aircraft Market
7.2.2 More Electric Aircraft Programs, By Category
7.3 Hybrid Electric
7.3.1 Increased Investments Expected By Nasa in Aircraft Hybrid Electric Technology
7.3.2 Solar Powered
7.3.3 Battery Powered
7.3.4 Fuel Cell Powered
7.3.5 Hybrid Electric Aircraft Programs, By Category
7.4 Fully Electric
7.4.1 Increasing Investments Planned for Electrical Systems and Electrical-Intensive Architectures
7.4.2 Fully Electric Aircraft Programs, By Category

8 Aircraft Electrification, By Application
8.1 Introduction
8.2 Power Generation
8.2.1 Increasing Demand for More Electric Architecture Aircraft Fueling the Growth of the Power Generation Segment
8.3 Power Distribution
8.3.1 Trend of Developing Electrical Components Influences the Growth of the Power Distribution Segment
8.4 Power Conversion
8.4.1 Increase in Operational Efficiency & Reduction in Total Aircraft System Weight Drive the Demand for Power Conversion
8.5 Energy Storage
8.5.1 Increasing use of Advanced Battery and Fuel Cell Systems Boosts the Demand for Energy Storage

9 Aircraft Electrification Market, By System
9.1 Introduction
9.2 Propulsion Systems
9.2.1 Airbus S.A.S. (Netherlands), Rolls-Royce (UK), and Siemens AG (Germany) Entered Into a Partnership to Develop the E-Fan X Hybrid-Electric Technology for Aircraft
9.3 Aircraft Systems
9.3.1 Aerospatiale (France) Was the First Company to Develop and Equip Electrical Aircraft Systems

10 Aircraft Electrification Market, By Component
10.1 Introduction
10.2 Batteries
10.2.1 Lithium-Sulfur and Lithium Titanate Batteries are the Future of Aircraft Battery Technologies
10.2.2 Nickel-Based
10.2.3 Lead-Acid-Based
10.2.4 Lithium-Based
10.3 Fuel Cells
10.3.1 Increased Efficiency of a Fuel Cell Leads to Reduction of the Fuel Load on Aircraft
10.4 Solar Cells
10.4.1 Solar Cell Airplanes Do Not Require Fuel to Produce Electric Power
10.5 Electric Actuators
10.5.1 Airlines are Fitting Their Fleets With Electric Actuators for Their High Reliability
10.6 Electric Pumps
10.6.1 Demand for Electric Pumps That are Adaptable for Next-Generation Aircraft is Increasing
10.7 Generators
10.7.1 Key Market Players are Developing Generators That Provide Advanced Performance, Require Reduced Maintenance, and Lower Costs of Operation
10.8 Motors
10.8.1 Electric Motors Have a Greater Range of Speed Than Combustion Engines, Which Reduces the Need for Gearboxes
10.9 Power Electronics
10.9.1 Power Electronics Likely to Result in Significant Profits in Terms of Efficiency and Flexibility
10.10 Distribution Devices
10.10.1 Shift Toward Electrification of Aircraft has Increased Demand for Distribution Devices

11 Aircraft Electrification Market, By Platform
11.1 Introduction
11.2 Commercial Aviation
11.2.1 Narrow Body Aircraft (RTA)
11.2.1.1 Replacement of Hydraulic and Pneumatic Aircraft Systems With Electric Systems Drives the Demand for Narrow Body Aircraft
11.2.2 Wide Body Aircraft (WBA)
11.2.2.1 Increase in Air Passenger Travel has Raised the Demand for Wide Body Aircraft
11.2.3 Regional Transport Aircraft (RTA)
11.2.3.1 Use of Advanced Flight Management System Technology Fuels the Demand for Electrification of Regional Transport Aircraft
11.3 Military Aviation
11.3.1 Fighter Jets
11.3.1.1 Adoption of Advanced Fighter Jets is Growing Due to Increasing Military Budgets
11.3.2 Multi-Mission Aircraft
11.3.2.1 Increasing Applications of Military Aircraft to Drive the Market
11.3.3 Unmanned Aerial Vehicles
11.3.3.1 Use of Uavs for Surveillance Applications is Increasing
11.4 Business & General Aviation
11.4.1 Light Aircraft
11.4.1.1 Frequent Modifications in Light Aircraft Expected to Fuel the Market for Aircraft Electrification
11.4.2 Business Jets
11.4.2.1 Increasing Electrification of Short-Range Aircraft Drives the Marker for Business Jets
11.4.3 Helicopters
11.4.3.1 Use of Hybrid-Electric and Electric Propulsion Systems in Helicopters is Increasing
11.4.4 Passenger Aerial Vehicles (PAV)
11.4.4.1 Development of Smart Cities has Led to the Introduction of Passenger Aerial Vehicles for Intracity and Intercity Transport

12 Regional Analysis
12.1 Introduction
12.2 North America
12.3 Europe
12.4 Asia-Pacific
12.5 Middle East
12.6 Latin America

13 Competitive Landscape
13.1 Introduction
13.2 Competitive Leadership Mapping
13.2.1 Visionary Leaders
13.2.2 Innovators
13.2.3 Dynamic Differentiators
13.2.4 Emerging Companies
13.3 Ranking of Key Players, 2019
13.4 Competitive Scenario
13.4.1 New Product Launches
13.4.2 Contracts
13.4.3 Other Strategies

14 Company Profiles
14.1 Honeywell International Inc.
14.2 Safran
14.3 Thales Group
14.4 United Technologies Corporation
14.5 GE Aviation
14.6 Raytheon Company
14.7 Ametek
14.8 Meggitt PLC
14.9 BAE Systems
14.10 Radiant Power Corporation
14.11 Eaglepicher Technologies, LLC
14.12 Astronics Corporation
14.13 Pioneer Magnetics
14.14 Esterline Technologies (Transdigm Group)
14.15 Crane Aerospace & Electronics
14.16 Hartzell Engine Technologies
14.17 PBS Aerospace
14.18 Nabtesco Corporation
14.19 Avionic Instruments, LLC
14.20 Carlisle Interconnect Technologies

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