The market for aircraft electrification is estimated to be USD 6.0 billion in 2021 and is projected to reach USD 20.0 billion by 2030, at a CAGR of 14.3% – QNT Press Release

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New York, March 28, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Aircraft Electrification Market by Technology, Component, Application, System, Platform and Region – Forecast to 2030” – https://www.reportlinker.com/p05844661/?utm_source=GNW

The aircraft electrification market includes major players like Honeywell International Inc. (US), Safran (France), Thales Group (France), Raytheon Technologies (US), GE Aviation (US). These players have spread their business across various countries including North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 could affect aircraft electrification production and services by 7–10% globally in 2020.

Lithium-sulfur and lithium titanate batteries are fueling the battery segment which is projected to be the highest in the aircraft electrification market during the forecast period.”
Based on component, the battery segment is estimated to lead the market during the forecast period, with a share of 24.3% in 2021. Lithium-sulfur is one of the battery technologies competing to supersede lithium-ion as the major battery technology of the next generation. The ability of Li-S batteries to store and release energy offers an opportunity to create batteries that hold as much as five times more charge than lithium for a given size and weight of the cell. Lithium titanate or lithium titanium oxide is a type of rechargeable battery, it can charge faster than other lithium-ion batteries but has a lower energy density.

The hybrid electric segment is projected to witness the highest CAGR during the forecast period.
Based on technology, the hybrid electric segment is projected to be the highest CAGR rate for the aircraft electrification market during the forecast period. Hybrid electric technology uses both airplane fuel as well as electricity to drive the propulsion system.

This technology helps reduce fuel burn, energy consumption, emissions, and noise for…

Full story available on Benzinga.com

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