Electric Aircraft Market to offer a healthy CAGR of 5.2% during 2020-25
February 07, 2020
Electric Aircraft Market Overview:
Electric Aircraft Market is likely to witness an impressive CAGR of 5.2% during the forecast period. Financially viable cost of possession of electric aircraft and their merits over traditional aircraft are underpinning the growth of the global electric aircraft market.
Report Overview:
This new report from Stratview Research analyses the Electric Aircraft Market over the trend period from 2014 to 2019 and forecast period from 2020 to 2025. The insights of the report shall enable informed decision making and strategy formulation for the near future to capitalize on the opportunities.
Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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Electric Aircraft Market Segment Insights:
Dominance: Ultralight Aircraft
Based on the aircraft type, the market is segmented as ultralight aircraft and light jet. The ultralight aircraft segment dominated the market in 2018, and is expected to maintain its dominance during the forecast period as well. The possession of ultralight aircraft is economically viable owing to its simplistic design and building. With the rise in fuel prices, the demand for ultralight aircraft is expected to pace up the demand for various training purposes during the forecast period.
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Dominance of: All Electric Aircraft
Based on the component type, the market is segmented as aircraft battery, aircraft electric motor, and others. The others segment comprises electric-ducted fans and power electronics. Power electronics are employed to power all crucial aircraft mechanisms, such as environmental control systems, flight control actuation, utility functions, and cabin pressurization, which were traditionally commanded by hydraulic and pneumatic means. Electric-ducted fans apply multiple propeller blades fixed to a single electric motor in an aircraft.
Based on the technology type, the market is segmented as hybrid aircraft and all-electric aircraft. The all-electric aircraft segment is expected to lead the market in the coming five years. The trend for all-electric aircraft is estimated to increase over the coming five years as aircraft OEMs are teaming up with their suppliers to design new systems that will hybridize conventional propulsion systems and implement new electrical-intensive designs.
A highly/moderately/fragment consolidated Market
Some of the major players in the electric aircraft market are Alisport SRL, Aurora (A Boeing Company), Airbus SE, Bye Aerospace, Cessna Aircraft (Textron Aviation), Delorean Aerospace, Embraer S.A., Evektor-Aerotechnik, Hamilton Aero Maintenance, and Joby Aviation.
Regional Hegemony of Europe
In terms of regions, Europe dominated the electric aircraft market in 2018, and is expected to continue its dominance during the forecast period as well. The market is led by the aircraft and its component industry in Europe, which is focusing to adopt new advanced materials, such as gamma-titanium aluminides and single crystals, which offer enhanced mechanical properties. These high-tech engines help aircraft minimize their fuel consumptions, carbon emissions and noise, among a host of such other factors. North America and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
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