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NEW YORK, July 12, 2022 /PRNewswire/ — The more electric aircraft market will be driven by combined expertise expected to generate quicker results. Engineers from the Electrical Power and Control Systems (EPACS) division of Rolls-Royce, UK, have been exploring appropriate architectures to implement on various configurations along with supporting hardware to deliver a reliable operation. Similar frameworks are expected to be employed in reducing future engine programs. Therefore, the combined expertise of manufacturers to generate quicker results is expected to drive the growth of the global more electric aircraft market during the forecast period.
The more electric aircraft market size is expected to grow by USD 2.45 billion from 2020 to 2025. Moreover, the growth momentum of the market will accelerate at a CAGR of 2.15% during the forecast period.
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Read the report with TOC on “More Electric Aircraft Market Analysis Report by Application (manned and unmanned) and Geography (North America, EuropeAPAC, South Americaand MEA), and the Segment Forecasts, 2021-2025″. View our Report Snapshot
- Airbus SE
- Bombardier Recreational Products Inc.
- Embraer SA
- Honeywell International Inc.
- Lockheed Martin Corp.
- Raytheon Technologies Corp.
- Safran SA
- Siemens AG
- Thales Group
- The Boeing Co.
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- manned – size and forecast 2020-2025
- unmanned – size and forecast 2020-2025
- North America – size and forecast 2020-2025
- Europe – size and forecast 2020-2025
- APAC – size and forecast 2020-2025
- South America – size and forecast 2020-2025
- MEA – size and forecast 2020-2025
Do you want to know about the contribution of each segment of the market? View an Exclusive Sample Report
The manned segment will have significant market share growth during the forecast period. Due to the increasing political tensions between countries, the need for fuel-efficient and environmentally viable aircraft hovering over countries’ borders is increasing. Moreover, commercial aircraft manufacturers initiated the practice of implementing more electric configurations in their upcoming models and were followed by military aviation stakeholders. Boeing 787 was the first to make a move toward manned more electric aircraft in the commercial aviation industry in terms of actuation and control. These factors have increased the demand and investments in manned more electric aircraft.
APAC will account for 28% of the market’s growth during the forecast period. The combined expertise expected to generate quicker results will drive the global more electric aircraft market growth in APAC during the forecast period. Moreover, market growth in this region will be faster than the growth of the market in regions. China is a key country for the global more electric aircraft in APAC. Countries like India, Japanand Australia are also contributing significantly toward the more electric aircraft market for APAC. For instance, in 2016, India’s Vijayawada-based Air Costa placed an order worth USD 2.94 billion with the Brazilian aircraft manufacturer Embraer as an add-on to its already purchased Embraer E-170 and E-190.
