The Aircraft Electrification Market is estimated to be USD 6.0 billion in 2021 and is projected to reach USD 20.0 billion by 2030, at a CAGR of 14.3% during the forecast period. The growth of this market is mainly driven by increase in adoption of cleaner and greener aircraft, developments in advanced air mobility and alternative sources of energy. Request Free Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=31650461 GENERAL ELECTRIC COMPANY (GE) is an industrial company that operates through its Industrial and Financial Services segments. The Industrial segment includes Power, Renewable Energy, Aviation, and Healthcare, and its Financial Services segment, Capital. The inertial navigation system developed by GE is used by US Marine Corps as well as in the satellite communication systems of Boeing, ViaSat, and Nextant. GE constantly focuses on collaborations to strengthen its penetration in the market. For instance, in 2019, GE Aviation and NASA partnered to develop the inverter for large commercial electric aircraft. GE Aviation also focuses on securing contracts from OEMs as well as the aftermarket across the globe. For instance, in July 2018, Boeing awarded GE Aviation a contract for AH-64 avionic systems. SAFRAN is a French multinational aircraft engine, rocket engine, aerospace-component, defense, and security company. Its subsidiary, Safran Electronics & Defense, offers optronics, avionics, and electronic systems, as well as critical software for both civil and military applications in the naval, aeronautical, and space sectors. Safran is leveraging its expertise in more electric aircraft products, which are aligned with the changing market needs. It is developing new technologies such as next-generation aircraft engines, new materials for aircraft components, new manufacturing techniques such as 3D printing, more electric aircraft components, electrical systems for helicopters, and reducing fuel consumption. The business and general aviation segment is projected to witness the highest CAGR during the forecast period Based on platform, the business and general aviation segment is projected to grow at the highest CAGR rate for the aircraft electrification market during the forecast period. The growth of the business & general aviation segment of the market can be attributed to the increase in corporate profits, rise in the number of high-net-worth individuals, and an increase in the replacement demand for existing business jets with new ones. The propulsion system segment is projected to witness the highest CAGR during the forecast period Based on system, the propulsion system segment is projected to grow at the highest CAGR rate for the aircraft electrification market during the forecast period. Electrification of propulsion systems is expected to boost the power for take-off, thereby creating an efficient electrical replacement for a regular turbofan with a 2-megawatt liquid-cooled electric motor. Electrical propulsion systems are expected to reduce fuel burn substantially, leading to a decrease in atmospheric emissions. The North American market is projected to contribute the largest share from 2021 to 2030 The key factor responsible for North America leading the aircraft electrification market is the high demand for new aircraft in the region. The growing upcoming projects, and the emergence of several startups supporting the electrification in the aviation industry are additional factors influencing the growth of the North American aircraft electrification market. Full Report @ https://www.marketsandmarkets.com/Market-Reports/aircraft-electrification-market-31650461.html Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 sales@marketsandmarkets.com
EditExport
Commentaires