Rapid growth in passenger air traffic coupled with increasing shift toward fuel efficient airplanes will drive more electric aircraft market growth

Ocean View, DE -- (SBWire) -- 06/19/2020 --Rapid growth in passenger air traffic coupled with increasing shift toward fuel efficient airplanes will drive more electric aircraft market growth. Aircraft manufacturers have been looking to introduce electric airplanes offering multiple benefits such as light weight structure, decreased noise. Also, these planes possess fewer moving parts which results in less maintenance cost, which would be an added advantage for airline companies which are striving to survive in a highly competitive business landscape.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/3357

Expanding tourism segment and subsequent increase in air traffic has encouraged major airplane manufacturers to not only grow their production capacity but also invest in novel technologies to boost performance. Global air passenger volume has surged across developed nations as well as emerging economies, coercing airlines to expand their fleets. In fact, in India the number of passengers opting for air transport in 2018 were about 12.5 million as against 11.5 million in the previous year. As worldwide commercial fleets witness a swift growth, more electric aircraft market will benefit from a booming customer base.

The Major Key Players in the Market are as follows:
Honeywell International Inc., Safran, Bombardier, The Boeing Company, Airbus S.A.S, Raytheon Company, United technologies Corporation, Thales Group, Lockheed Martin Corporation., Augusta Westland

Regulatory bodies including Federal Aviation Administration (FAA), International Civil Aviation Organization (ICAO), and International Air Transport Association (IATA) are providing several regulatory policies and standards aimed at minimizing carbon emissions. This has added to the urgency of aircraft makers to incorporate single electric systems into planes instead of complex and heavy mechanical systems comprised of numerous individual parts. Simpler and lighter planes will lead to better fuel efficiency and help comply with upcoming emission mandates, besides ensuring long-term sustainability of airlines. Undoubtedly, regulatory compliance will be a key factor in strengthening more electric aircraft market outlook.

Essentially, the remarkable weight reduction achieved by replacing a large number parts with smaller electrical systems has primarily reinforced more electric aircraft market. Air traffic is responsible for just around 2% of global CO2 emissions every year, but this number will only grow as the tourism sector and international trade expands. Since only modifying engine and the body of aircrafts will not be sufficient to mitigate the emission risks, electrification signifies a crucial opportunity to achieve sustainability targets.

It is believed that key technological changes taking place in large commercial aircrafts will pave the way for reliable all-electric planes, which would need to have considerably lower weights and minimum dependency on mechanical or pneumatic systems. In 2018, the U.K. government committed £255 million (US$323.5 million) towards developing greener aircraft technologies. Several airplane makers, including Airbus, would benefit from these funds and work to build hybrid-electric and electric propulsion systems, energy storages devices and other components.

North America accounts for significant percentage of global electric aircraft market owing to the existence of several airplane manufactures in the region. In addition, the presence of U.S boasting a huge defense budget should convincingly accelerate the regional share over the forecast timeline. The country has been facing escalating tensions from other parts of the world pertaining to which there has been constant demand for lethal fighter aircrafts. For instance, Lockheed Martin has been observed to continuously upgrade and develop multiple variants of F35 fighter jets which include particular capabilities for highly specialized operations as per end user demand.

Get this report Customized to your requirements @ https://www.gminsights.com/roc/3357

Increasing the power of electrical systems in aircrafts is the main driver boosting more electric aircraft market, indicating that tomorrow's planes will have a much lesser environmental footprint and would be simpler to maintain. The industry is poised to accrue significant revenues from manufacturers looking for advanced power generation and distributions systems as well as fuel-saving technologies for cabin pressurization and air conditioning. Reports estimate that more electric aircraft market would exceed a global valuation of over US$45 billion by 2025.

Some Points From Table Of Content: -
Chapter 4. More Electric Aircraft Market, By Platform
4.1. Global more electric aircraft market share by platform, 2018 & 2025
4.2. Fixed Wing
4.2.1. Global market estimates and forecasts, 2013 – 2025
4.2.2. Market estimates and forecast, by region, 2013 – 2025
4.3. Rotary Wing
4.3.1. Global market estimates and forecasts, 2013 – 2025
4.3.2. Market estimates and forecast, by region, 2013 – 2025

Chapter 5. More Electric Aircraft Market, By System
5.1. Global more electric aircraft market share by system, 2018 & 2025
5.2. Power Electronics
5.2.1. Global market estimates and forecasts, 2013 – 2025
5.2.2. Market estimates and forecast, by region, 2013 – 2025
5.3. Thermal Management System
5.3.1. Global market estimates and forecasts, 2013 – 2025
5.3.2. Market estimates and forecast, by region, 2013 – 2025
5.4. Safety System & Advanced Material
5.4.1. Global market estimates and forecasts, 2013 – 2025
5.4.2. Market estimates and forecast, by region, 2013 – 2025
5.5. Energy Storage Devices
5.5.1. Global market estimates and forecasts, 2013 – 2025
5.5.2. Market estimates and forecast, by region, 2013 – 2025

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/more-electric-aircraft-market

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com