More Electric Aircraft Market

The more electric aircraft market is projected to grow from USD 5.56 billion in 2024 and reach USD 8.01 billion by 2029, at a CAGR of 7.6% during the forecast period.

The More Electric Aircraft (MEA) market is experiencing robust growth driven by increasing environmental regulations, technological advancements, and the need for operational efficiency. Countries globally have set increasingly tight standards regarding the emissions and ask for an electric system, which both minimizes fuel consumption while reducing carbon emission. Advances of solid-state and lithium-sulfur batteries increase energy density and safety, enabling better power distribution for flight controls, landing gear, and environmental systems. The electric taxiing system reduces operating costs because aircraft can taxi without running engines, thereby reducing total fuel consumption and emissions.

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Nevertheless, there are still major challenges in the areas of battery technology, affecting weight and energy density, and high heat loads requiring sophisticated thermal management systems to accommodate electric system losses. High development costs and associated certification processes for new technologies also are significant challenges for standardized high-voltage power management solutions. Despite these challenges, continued investment from governments and industry leaders in research and development is paving the way for MEA's mainstream adoption, promising a transformative shift towards more sustainable aviation practices that align with global emissions reduction goals.

SAFRAN S.A.

Safran SA, is a France-based aerospace defense group. It specializes in making and supplying aircraft engines equipment together with technology solutions in chief commercial, defense and aerospace fields. The Company was formed through the merger of Snecma with SAGEM in the year 2005. The Company is a leading supplier of Aircraft Engines to Boeing and Airbus. Sarna is key manufacturer of More Electric aircraft components which includes Safran designs advanced, state-of-the-art generators and electrical distribution systems that replace traditional hydraulic systems in modern aircraft. The new technology is efficient in terms of fuel consumption because it can produce and distribute power more efficiently. High-energy systems are supported, thus allowing for enhanced control and diagnostics. Among the products by Safran that can provide support for MEA architectures is integrated power management and generation systems having the capability to do high-voltage DC power distribution.

HONEYWELL INTERNATIONAL, INC.

Honeywell International Inc. is a diversified US multinational conglomerate firm operating in aerospace, building technologies, performance materials, and safety and productivity solutions. The company's aerospace division is comprised of the following: avionics and aircraft engines, navigation, guidance systems, electric propulsion technologies, and defense and space electronics. Both commercial and defense aviation serve as clients of the division, and Honeywell has provided all these essential systems for aircraft performance and safety. Honeywell has teamed with companies like Safran on electric taxiing systems that allow aircraft to taxi by electric power rather than main engines. This technology reduces fuel burn on the ground and enables airlines to reduce emissions and save money on fuel. Honeywell's APUs provide electrical power to aircraft systems while engines are off, saving fuel during idle phases and supporting electric power needs for more environmentally friendly operations.

RTX

RTX Corporation, formerly known as Raytheon Technologies, is a U.S.-based multinational aerospace and defense company formed in 2020 through the merger of Raytheon Company and United Technologies Corporation (UTC). With headquarters in Arlington, Virginia, RTX is a leading global provider of advanced systems for aerospace, defense, and intelligence applications. The company operates through three primary business segments, offering technology solutions to support civil and defense aviation, space exploration, and security infrastructure for government and commercial clients. Collins Aerospace is one of the RTX businesses, pioneering the development of electric power systems that replace the traditional aircraft power architectures. The company develops high-power electric generators and power distribution systems to enable electrification of many aircraft functions as it promotes the shift toward an all-electric or hybrid-electric aircraft. Its systems support high-voltage power distribution, critical for enabling energy-intensive electric systems in MEA. Collins Aerospace is pioneering electric options for critical onboard systems, including environmental controls and actuation, as well as landing gear. For instance, the company is developing electric ECS that optimizes cabin temperature and pressure more efficiently than any conventional pneumatic systems. Electric actuation and landing gear further eliminate the requirement for hydraulic systems, therefore reducing aircraft weight and their maintenance needs.

GENERAL ELECTRIC

General Electric (GE) is a diversified conglomerate spread across the globe, operating in Aerospace, Renewable Energy, and Power. It is one of the leading aircraft engine and aerospace system manufacturers for commercial, military, and business aviation across the world. The company produces engines for large commercial jets, regional and business aircraft, and military planes, including the highly efficient GE9X, CF6, and LEAP engines (in partnership with Safran via CFM International). GE Aerospace is also investing into next-generation engine technologies, with hybrid-electric propulsion as well as hydrogen-powered, in support of sustainable aviation goals. General Electric  is one of the leading manufacturers in hybrid-electric propulsion systems. The company integrate an electric motor with a conventional jet engine, saving on fuel and emissions at takeoff, taxiing, or descending. GE's EPFD, or Electrified Powertrain Flight Demonstration, is a critical development in collaboration with NASA to demonstrate and validate hybrid-electric propulsion for commercial aviation, allowing for more significant fuel savings and decreased greenhouse gas.

PARKER HANNIFIN CORPORATION

Parker Hannifin Corporation is a global leader in motion and control technologies. Founded in 1917, the company is based in Cleveland, Ohio. Parker Hannifin provides solutions with precision-engineered quality across a range of applications in aerospace, industrial, and mobile markets. The Aerospace Systems segment within Parker offers its product line, which ranges from avionics to electric and hydraulic braking systems, electric power systems, flight control systems, fuel systems, and thermal management products for commercial and defense airframe and engine programs. Parker is a leader in electric actuation and designs systems to replace hydraulic actuators in flight control, landing gear, and other critical aircraft functions. These actuators are lightweight with very low maintenance needs, meaning perfect control for efficiency and sustainability objectives of MEA.

Related Reports:

More Electric Aircraft Market by System (Propulsion, Airframe), Component (Power Source, Actuators, Electric Pump, Power Electronics, Generator, Valves), Platform (Narrow Body, Wide Body, Regional Jet, Fighter Jet), Application, End Use - Forecast to 2029

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