Electric Aircraft Market is expected to grow with a CAGR 14.5% from 2022 to 2028
As stated in our extensive report; providing insights on Segments (i.e., Platform, System, Type, Technology, Application and Region), Key Driving Factors, Key Restraints; the Global Electric Aircraft Market accounted for USD 7.7 Billion in the year 2021.
Electric plane entails the usage of advanced electric systems to update the normally used pneumatic equipment. In those planes, non-propulsive functions, including pressurization, de-icing, engine starting, flight controls, and actuation of the landing gear, are electrified, thereby making them exceptionally energy efficient. They additionally make use of power electronics, energy storage devices, thermal management, safety, battery, and fuel cell systems. In assessment to the historically used aircraft, are safer, environment-friendly and cause minimum noise pollutants and generate decreased carbon emissions.
Civil & industrial programs of electrical aircraft encompass the transportation of clinical components with the aid of using companies like Zipline and ordinarily for aerial photography. Retail and different logistics groups are more and more searching toward using electric-powered UAVs to distribute important items because of intermittent lockdowns and the imposition of social distancing protocols worldwide.
“Key Factors Likely to Drive Growth of Electric Aircraft Market”
With a growth in the quantity of global aircraft fleet length and air tours, those numbers are anticipated to upward push even higher. Hence, there was an urgent need for electric-powered aircraft, so one can assist reduction in the carbon footprint of the aviation industry. Since electric engines no longer have noises associated with jet or combustion engines, they bring about no aircraft noise levels. In an electric aircraft, producers intend to enhance performance with the aid of using changing hydraulically managed structures with electric systems.
Electric aircraft producers become aware of the need for cleaner aircraft as the main possibility in the future. Thus, the want for sustainable air travel is the main component riding the electric aircraft market.
According to Statista, the worldwide quantity of air freight has accelerated considerably in the previous few years and reached 55.9 million metric lots in 2020. The international quantity is anticipated to grow, thanks to the upward push of e-commerce. as a result, the market is anticipated to peer accurate possibilities in the Use of an all-electric aircraft for logistics.
North America holds the largest share in the Global Electric Aircraft Market and is expected to continue this trend in the forecast period.
Some of the key players in the Global Electric Aircraft Market include Airbus S.E., Elbit Systems Ltd., AeroVironment Inc, ECA Group, Ehang, Pipistrel, Yuneec International, Lilium and others.
Browse the full Report - Electric Aircraft Market Size, Share & Trends Analysis Report by Platform (Regional Transport Aircraft, Business Jets, Light & Ultralight Aircraft), by System (Batteries, Electric Motors, Aerostructures, Avionics), by Type (Fixed Wing, Rotary Wing, Hybrid Wing), by Technology (CTOL, STOL, VTOL), by Application (Civil, Military), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)