Aircraft Electrification Market Overview

Aircraft Electrification Market Size Was Valued at USD 8.39 billion In 2023, And Is Projected to Reach USD 23.20 billion By 2032, Growing at A CAGR of 13.57% From 2024 -2032

Aircraft electrification is intriguing because it offers several benefits like as reduced emissions and noise. Also, Aircraft electrification provides a sustainable alternative for commercial air travel. To accomplish environmental goals, significant reductions in carbon emissions are required. By replacing traditional hydraulic and pneumatic systems with electric systems, airplanes can save about 3% on fuel by reducing the amount of engine bleed air necessary to operate these systems. Aviation emissions are increasing at a rate of about 5% per year, according to the EU's Flightpath 2050 program, which targets a 75% decrease in carbon emissions per passenger kilometer by 2050.

The electrification of aircraft is a key step in achieving those objectives and combating climate change. Because of the growing need to cut carbon emissions and regulate pollution, the worldwide aircraft electrification industry is likely to rise significantly in the future years. Increased efforts to lessen reliance on oil are expected to increase demand for aircraft electrification. Electric motors drive propellers that produce thrust in an electric aircraft. It is equipped with a dispersed driving system. Batteries, solar cells, fuel cells, ground power connections, and other methods can all be used to provide electricity to aircraft. Therefore, Aircraft Electrification presents tremendous growth prospects during the forecasted period. 

Market Dynamics And Factors For Aircraft Electrification Market

Drivers:

Sustainability In The Aircraft Industry Boosting The Aircraft Electrification Market

Recent advancements in power electronics, fault-tolerant architecture, electro-hydrostatic actuators, flight control systems, high-density electric motors, and power production and conversion systems have fueled the demand for more electric aircraft. Many controls on aviation emissions have been enacted as the focus shifts to environmentally friendly aircraft. Manufacturers are shifting to more electric airplanes as emission standards become more stringent. Electric airplanes are becoming more popular as aircraft manufacturers discover the benefits of the architecture, which include higher fuel efficiency, lower maintenance costs, more reliability, and fewer hydraulic and pneumatic components in engine installation. In the coming years, more electric aircraft with short ranges are likely to become practical for regional transportation.

Restraints:

Component-Based Problems In Electrified Aircraft Are The Major Restraining Factors

Thermal management, systems design for integration into the airframe, battery management, power-to-weight ratios, testing, dependability, and certification of new aircraft technologies are all challenges in electrification. Without concurrent improvement in airport infrastructure, power supply and distribution, and assessment of aviation's environmental impact, aircraft electrification will fail.

Opportunities:

Big Investment From Aircraft Manufacturers Presents A Technological Growth Opportunity

Big manufacturers like Boeing and Airbus have dabbled with the electric plane sector. Boeing teamed with startup Zunum (more on that under Shocking Startups below), while Airbus has experimented with projects like Vahana, City Airbus, and E Fan X to assist gain exposure in the sector. In addition to Zunum, Boeing's Aurora Flight Sciences, an aviation and aeronautics research business bought in 2017, is collaborating with Uber to establish a network of flying taxis. Aurora Flight Sciences flew their all-electric autonomous passenger air vehicle for the first time in January 2019. Siemens predicts a similar timeline, with ultralights and military aircraft arriving first (due to less stringent certification rules), followed by a ramp-up for certified systems in 2022, scheduled flights based on hybrid aircraft in 2030, and finally, by 2050, electric propulsion will be the "standard solution" for all aircraft segments. In a similar hemisphere, Roland Berger's group of aerospace experts predicts that the first > 50-seat hybrid-electric aircraft will reach commercial service by 2032.

Challenges:

The Developing Stage of The Battery Technology Is A Major Challenge For Full Aircraft Electrification

The poor energy density of batteries is one of the most significant issues that electric aircraft manufacturers confront when it comes to long-distance flights. The watt-hours per kilogram (Wh/kg) unit of measurement for aircraft propulsion is commonly used. The current lithium-ion batteries have an energy density of 250 Wh/kg, which is far lower than the 12,000 Wh/kg energy density offered by conventional jet fuel or kerosene. As a result, all-electric long-haul commercial flights are still a long way off, as fossil fuels are 14 times more energy-dense than battery-powered alternatives.

Segmentation Analysis of Aircraft Electrification Market

By Technology, the Hybrid electric segment dominates the Aircraft Electrification Market. The propulsion system in hybrid electric technology is powered by both aviation fuel and electricity. For single-aisle passenger aircraft, this technique helps minimize fuel burn, energy consumption, pollutants, and noise. In hybrid propulsion, two types of power sources are available: solar-powered and fuel-powered. Noise reduction is one of the benefits of hybrid-electric aircraft.  An electric motor is quieter than a combustion engine. It still has to power a propulsor—a rotor, propeller, or fan—which makes noise during takeoff and landing. When taxiing and cruising, however, electric propulsion will be quieter. Distributed propulsion systems with several smaller, quieter rotors or fans are also possible with electric motors. Another benefit is efficiency. Electric drivetrains can be more than 90% efficient, compared to only 55% for today's huge turbofans and 35% for small turboprops. One rationale for the electrification of propulsion to begin with the retrofitting of regional aircraft powered by turboprops like the Pratt & Whitney PT6 is the efficiency gap between large and small turbines.

By Application, the Commercial segment is expected to dominate the Aircraft Electrification Market. Only a few more electric aircraft are available in this market, including the Boeing 787 and Airbus A350 XWB. Major aircraft manufacturers, including Airbus SE and The Boeing Company, have increased the use of electric architecture in their commercial aircraft over time. Airbus successfully replaced three hydraulic systems with two electric systems for its A380 and A350 models, demonstrating that the technology is safe for aircraft. On wide-body aircraft, Airbus wants to replace hydraulic power systems with electric generators. As of December 2021, Boeing had delivered a total of 1,006 Boeing 787 Dreamliner airplanes. The Boeing 787 is one of the first aircraft to use more electric architecture. Electric systems replace those previously driven by hydraulics or bleed air from engines on the aircraft. More electric architecture is being introduced into new airplane types.

Regional Analysis of Aircraft Electrification Market

North America dominates the Aircraft Electrification Market. Due to a high number of deliveries of aircraft with more electric architecture to the United States, North America is currently a big market for more electric aircraft. The essential infrastructure, as well as a strong focus on research and development in the electrification of aircraft subsystems, are projected to help the North American area build more electric aircraft markets. Lockheed Martin supplied 142 F-35 fighter jets to the US and its allies in 2021. The F-35's power-by-wire system is a significant step forward in electric aircraft technology. The principal flight surfaces are controlled by self-contained electro-hydrostatic actuators (EHAs). The domination of the more electric aircraft market in the region, on the other hand, is due to rising environmental concerns and more rigorous laws for airplane emissions. Even though deliveries of wide-body aircraft such as the Boeing 787 Dreamliner and the Airbus A350 XWB have slowed in the region, carriers still have several aircraft on order. For example, Delta Air Lines, the first North American carrier to fly the A350 XWB, operates 17 Airbus A350-900s as of September 2021. Eight of the 25 A350-900s ordered have yet to arrive at the carrier. The market in the North American region is projected to be driven by a need for newer, more electric aircraft from both the commercial and military sectors.

Europe is the fastest-growing region in the Aircraft Electrification Market. The European region is more focused on the building infrastructure related to aircraft electrification which is the major factor while operating at large. Even though the pandemic has caused significant challenges for all airports, with passenger numbers still low and movements far below 2019 norms, Europe's airports remain dedicated to rebuilding more sustainably. 235 European airports recently approved the aviation sector's goal to reach net-zero CO2 emissions by 2050 at the latest, representing 68 percent of European passenger volume in 2019. 91 of these airports are on track to meet their net-zero commitment by 2030. One of them is Amsterdam-Schiphol Airport. Royal Schiphol Group is collaborating with Smart Airport Systems (SAS), a business that provides technology solutions to airlines and airports to minimize fuel usage, pollution, and noise, and to improve airside electrification. Smart Airport Systems' electrical power and air-conditioning units, commonly known as 'APU off,' are a viable alternative to using an aircraft's auxiliary power unit (APU) on the ground for pre-flight operations, boarding, and maintenance. TaxiBot® is a sustainable taxiing system offered by Smart Airport Systems. Using this vehicle, which is controlled by the pilot when the aircraft engines are turned off, can save fuel consumption by up to 85%, CO2 and other noxious emissions by up to 85%, and noise by up to 60% during taxiing.

COVID-19 Impact Analysis on Aircraft Electrification Market

The defense sector, as well as government expenditures, are expected to protect defense industries. Some defense corporations in the United States and the United Kingdom, such as Honeywell and QinetiQ, have announced fiscal steps to preserve capital and mitigate the COVID-19 impact, such as negotiating delayed draw term loan arrangements and deferring dividend releases. Furthermore, while government contracts preserve demand for defense items, supply chain disruptions may occur as a result of financial pressures on raw material suppliers, who may be forced to slow or stop production. Companies in the defense industry implemented urgent and conditional safety measures for their staff. A prolonged economic crisis is also likely to necessitate personnel layoffs and other measures, which could lower the output rate. Furthermore, a decreased GDP in major economies such as the United States, China, the United Kingdom, France, Germany, India, Italy, Japan, Brazil, and Canada in 2020 predicts a possible decline in defense and aviation investments.

Players Covered in Aircraft Electrification Market are

• Airbus Group
• Bombardier Inc.
• Honeywell International Inc.
• Raytheon Company
• Safran Group
• Thales Group
• The Boeing Company
• TTTech Computertechnik AG
• United Technologies Corporation (UTC)
• Zodiac Aerospace SA and other major players.

 Key Industry Developments In Aircraft Electrification Market

• In July 2024, Honeywell announced that Electra. aero has chosen Honeywell flight control computers and electromechanical actuation systems for its nine-passenger hybrid-electric eSTOL aircraft. These technologies will enhance the aircraft's safety and efficiency, supporting sustainable regional air travel. Additionally, Honeywell made a strategic financial investment in Electra.
• In May 2023, BAE Systems, a leading aerospace and defense company, and Heart Aerospace, a Swedish electric airplane maker, announced a collaboration to define the battery system for Heart’s ES-30 regional electric aeroplane. The battery will be the first to be integrated into an electric conventional takeoff and landing (eCTOL) regional aircraft, allowing it to operate efficiently with zero emissions and low noise.