The electric aircraft market was valued at USD 96.3 Million in 2017 and is projected to reach USD 121.8 Million by 2023, at a CAGR of 4.17% during the forecast period. The objectives of this study are to analyze the electric aircraft market, along with the provision of its statistics. It also aims to define, describe, and forecast the electric aircraft market on the basis of the aircraft type, technology, component, range, and region.
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Electric aircraft ecosystem comprises electric aircraft system providers, such as Zunum Aero (US), Yuneec International (China), PC Aero (Germany), Pipistrel (Italy), Eviation Aircraft (Israel) Lilium (Germany), Schempp-Hirth (Germany), Volta-Volaré (US), Bye Aerospace (US) and Electric Aircraft Corporation (US) among others, and the innovators of different types of electric aircraft, such as DeLorean Aerospace (US), Joby Aviation (US), Siemens (Germany), and Evektor (Czech Republic).
Key Target Audience for this Report:
- Manufacturers of Electric aircraft
- Providers or Suppliers of Electric Aircraft Parts
- Manufacturers of Sub-Components
- Retailers, Distributors, and Wholesalers of Electric Aircraft
- Technology Support Providers
- Manufacturers of Defense Components
- Manufacturers of Aerospace Components
- System Integrators
- Governmental Bodies
Electric aircraft markethas been segmented into battery, electric motor, & others. Others segment include electric ducted fans & power electronics.
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Power electronics are used to power all crucial aircraft components, including flight control actuation, environmental control systems, utility functions, & cabin pressurization, which were conventionally controlled by hydraulic and pneumatic means. Electric ducted fans use multiple propeller blades attached to a single electric motor in an aircraft.
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Electric aircraft market has been segmented into hybrid and all electric. The all electric segment of the electric aircraft market is projected to lead during the forecast period.
The trend for the all-electric aircraft is growing over the forecast period as aircraft OEMs collaborate with their suppliers to design new systems that hybridize traditional propulsion systems and implement new electrical-intensive architectures.
1 Upcoming Technologies in Electric Aircraft Market
2 Advanced Battery Materials for Electric Aircraft
3 Leading Edge Asynchronous Propeller Technology (Leaptech)
4 Air Taxis for Sustainable Transportation
5 Wireless Power Transmission
6 Electrical Propulsion Aircraft Design
7 Hybrid Electric Propulsion System Design
8 All Electric Propulsion System Design
9 Adoption of Electrical Systems By Varied Aircraft Type
10 New Electrical Aircraft Platforms
The aircraft and its component industry in Europe is aiming to use new advanced materials, such as gamma-titanium aluminides and single crystals, with improved mechanical properties, these advanced engines help aircraft reduce its fuel consumption, carbon emissions, and noise pollution.
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The market study segments the electric aircraft market based on the aircraft type (ultralight aircraft, light jet), component (battery, electric motor, and others), technology (hybrid and all electric), range (less than 500 km, and more than 500 km) and maps these segments and subsegments across 5major regions, namely, North America, Europe, Asia Pacific, and Rest of the World (RoW).
The report provides in-depth market intelligence regarding market dynamics and major factors, such as drivers, opportunities, and industry-specific challenges that influence the growth of the electric aircraft market, along with an analysis of micro markets with respect to individual growth trends, prospects, and their contribution to the electric aircraft market.
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