More Electric Aircraft Global Market Takes off with CAGR of 4 % | MEA Industry TOP Players:(Rolls Royce, Raytheon Company, United Technologies, Thales Group, Honeywell International, Airbus, Safran, Boeing, Lockheed Martin)

Market Highlights:
More Electric Aircraft (MEA) approach is widely accepted & adopted worldwide mainly due to the growing ecological concerns. MEAs are proving to be effective in enabling the aircraft industry to witness significant improvements in terms of reducing aircraft weight, fuel consumption, enhancing aircraft reliability & maintenance reducing the total life cycle costs.

Industry/ Innovation/ Related News:
February 15, 2018 – Eviation Aircraft Ltd. (Israel) a Electric airplane manufacturing start-up announced that it has partnered with Kokam (South Korea) a leading battery supplier to develop its 9-seat commuter aircraft scheduled to fly by 2021.

February 02, 2018 – Zunum Aero (US) announced commencement of building its first prototype electric airplane motor, and plans to put an upgraded version on a test aircraft in 2019. The company also mentioned that it is working on a new class of regional airplanes with hybrid electric propulsion systems, & scheduled to commence the service in 2022. The project is backed by the companies like JetBlue, Boeing including other investors.

January 28, 2018 – Extra Aircraft Company (Germany) announced the actuation of two new seats in its electric aircraft - Extra 330LE. Matted to a Siemens electric motor the new ePlane soars up to 3,000 mtrs. in just 4.22 minutes, with a climbing rate of 11.5 m/s. The Extra 330LE is officially recognized by the FAI (Fédération Aéronautique Internationale) and has already created the best performance world record in November 2016.

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Planes powered by carbon-based fuels like kerosene/gasoline are capable enough to carry a significant weight, providing the vast power required to lift large commercial airliners on journeys across the globe. However, their higher energy consumption, NOX emission, noise & Air pollution is taking its toll on quality of life. Also, with depleting oil resources & increasing greenhouse gas emissions penalties, the future of aviation is dependent on finding an alternative power source. Electrically powered aircraft is certainly the answer, accomplishing the objectives mentioned above.

MEAs have evolved tremendously over the past couple of decades and the ones on Airbus 380, Lockheed F35 and Boeing 787 are the most outstanding MEAs. These aircrafts have developed mainly focusing upon replacing the secondary energy sources like hydraulic or pneumatic systems with an electric one. Recent research and development indicate that MEA will develop significantly further and progress into innovating the primary energy source. This will further increase the already growing global More Electric Aircraft market.

Acknowledging the kind of traction the market is witnessing currently, recently Market Research Future published a study report foretelling the growth prospects of the market up to 2021. In its study report MRFR asserts that the More Electric Aircraft market further accruing exponentially will register over 4% of a CAGR globally, during the forecast period (2016 – 2021).

More Electric Aircraft have been proved effective in reducing the overall cost with the improved operations while being gentle on the environment reducing the carbon footprints. Other factors like increasing number of aircraft deliveries and the demand for fuel-efficient aircraft with less carbon emission etc. are some of the major market growth propelling factors. Prominent trend of the market observed during the analysis is shift to fuel cells usage.

On the other hand, factors such as issues pertaining to the electrical power system along with the issues of electrical generator associated with the civilian and commercial usage of MEA are posing challenges to the market growth. Besides, heavy investments and lengthy clearance process required for components upgrade are restricting the market growth. Nevertheless, some of the unique advantages of MEAs like reduced noise & air pollution coupled with the demand for optimized aircraft performance will fuel the growth of the more electric aircraft market globally.

Technological advancements transpired in power electronics, electro-hydrostatic actuators, fault-tolerant architecture, high density electric motors, flight control systems, power generation and conversion systems; have elevated the market growth of the MEA. Leverage to this trend of technological development aircraft OEMs are increasingly collaborating with their suppliers to design new systems and implement new electrical-intensive architectures.

Major Key Players

Raytheon, Safran,
Airbus,
Honeywell International,
The Boeing Company,
Thales Group,
United Technologies Corporation,
Bombardier,
TT Tech Computer technik, and Zodiac Aerospace SA are some of the leaders driving the Global More Electric Aircraft Market. Profiling those in its analysis MRFR finds out their strategies placing them at the forefront of completion.

The global More Electric Aircraft Market is expected to grow at a CAGR of over 4%, during the forecast period of 2017-2023.

Regional Analysis
In case of regional analysis of America, in 2013, there were 8,030 aircraft in service in America; 6,650 aircraft in North America; and the remaining 1,380 aircraft in Latin America. The region is expected to witness demand for 10,500 new aircraft over the next two decades.
The growing demand for MEA has resulted in the emergence of advanced technologies in the field of aerospace, such as replacement of auxiliary power units with more efficient fuel cells to provide electricity on board. Another trend is the development of more electric engines pioneered by Rolls-Royce that will better support MEA. The increased usage of electrical components in aircraft is another trend in the market.

Aircraft manufacturers, such as Boeing and Airbus, are investing in new electrical technologies to reduce costs and increase efficiency. This evolving trend in the presence of electrical systems in aircraft has led to the development of an all-electric aircraft.
The global MEA market is highly competitive and vendors participate in variables of cost, reliability of product, quality, and customer service. To sustain and succeed in such a competitive environment, it is very important for vendors to provide cost-effective and high-quality MEA with the latest technology and materials.

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Intended Audience
• Distributor & Supplier companies
• End-Users
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities

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