Global Aircraft Electrification Market Report 2022

New York, Sept. 21, 2022 (GLOBE NEWSWIRE) — announces the release of the “Aircraft Electrification Global Market Report 2022” –
Parker-Hannifin Corp., Eaton, AMETEK Inc, Meggitt PLC, BAE Systems, EaglePicher Technologies and Nabtesco Corporation.

The global aircraft electrification market is expected to grow from $4.10 billion in 2021 to $4.59 billion in 2022 at a compound annual growth rate (CAGR) of 12.02%. The aircraft electrification market is expected to reach $7.60 billion in 2026 at a compound annual growth rate (CAGR) of 12.02%.

The aircraft electrification market includes aircraft electrification sales by entities (organizations, individual traders, and partnerships) that refer to the method of using electric motors to power aircraft propeller engines to reduce air pollution. In aircraft electrification, the engine uses electrical power for all non-propulsion systems and focuses on modifying current operations or systems to increase efficiency or to reduce the amount of work the engine has to do in modifying the aircraft or operational systems.

The main components of aircraft electrification include batteries, fuel cells, solar cells, electric actuators, electric pumps, generators, motors, power electronics, distribution devices. Batteries refer to devices used in aircraft to convert chemical energy into electrical energy.

There are several uses for aircraft batteries such as ground power, backup power, improving DC bus stability, and eliminating faults. Plus electric, hybrid electric, all electric are technologies used in the electrification of aircraft.

North America was the largest region in the Aircraft Electrification Market in 2021. Regions covered in the Aircraft Electrification Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

The Aircraft Electrification Market research report is one of a series of new reports that provides Aircraft Electrification market statistics including the global market size of the nutritional yeast industry , regional shares, competitors holding Aircraft Electrification market share, detailed Aircraft Electrification market segments, market trends and opportunities. , and any other data you may require to thrive in the Aircraft Electrification industry. This Aircraft Electrification Market research report provides a comprehensive perspective of everything you need, with an in-depth analysis of current and future industry scenarios.

Growing demand for carbon footprint reduction is driving the electric aviation market. specified period.

The carbon footprint can be reduced by making changes in the way business is conducted. The electrification of aircraft is one such change that will lead to a reduced carbon footprint.

Electric planes use electricity instead of fuel, reducing the emission of harmful gases into the atmosphere, thus reducing the carbon footprint. According to the World Economic Forum, nearly 3% of global carbon dioxide emissions are attributable to the aviation sector.

Focusing on four key actions, it has pledged to become carbon neutral by 2050. These include the use of hydrogen, carbon offsets and cleaner fuel. Thus, the growing demand for carbon footprint reduction will fuel the aircraft electrification market.

Strategic partnership is a key trend in the aircraft electrification market. Companies partner with aircraft electrification companies to leverage each other’s resources and enter a new market.

In April 2022, Eve UAM, LLC, a Brazil-based aerospace company that generates urban air mobility solutions, entered into a partnership with Thales Group. The partnership aims to contribute to the growth of Eve’s electric vertical take-off and landing (eVTOL) aircraft in Brazil.

A series of cooperative research on the technical, financial and adaptable viability of an all-electric aircraft will be conducted under the strategic partnership for one year. Thales’s experience in creating avionics, electrical, flight control, navigation, communication, and connection systems will be added.

Thales Group is a France-based company that provides services and designs electrical systems for aerospace, defence, transport and security applications. In October 2021, Amedeo, an Irish aircraft leasing and asset management company, entered into a partnership with AURA AERO. The partnership aims to advance the commercial aviation sector’s net zero by 2050 goal. AURA AERO is a Toulouse-based aerospace company creating fully digital electric aircraft design and production processes.

In April 2022, Textron, a US-based aerospace company, which uses its global network of aerospace, defense, industrial and financial companies to provide consumers with cutting-edge products and services, acquired Pipistrel for an undisclosed amount. . Through this acquisition, Textron intends to establish Textron eAviation as a new business unit with a focus on creating environmentally friendly aircraft, including Pipistrel.

Pipistrel is a Slovenian manufacturer of electrically powered aircraft.

The countries covered in the Aircraft Electrification market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea South, the United Kingdom and the United States.
Read the full report:

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.



Comments are closed.