Electric Aircraft Market Size to Reach USD 28.35 Billion in 2030 | Emergen Research

VANCOUVER, BC, Jan. 30, 2023 /PRNewswire/ -- The electric aircraft market reached USD 7.80 Billion in 2021 and is expected to register a CAGR of 15.5% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for unmanned aerial vehicles is a key factor driving electric aircraft market revenue growth.

Drivers:

Increasing pneumatic system advancements in electrical aircraft

Recent advances in power production, flight control systems, high-density electric motors, conversion systems, electro hydrostatic actuators, fault-tolerant architecture and power electronics have increased the demand for more electric aircraft. Many limits on aviation emissions have been enacted in response to the growing emphasis on environmentally efficient aircraft. Manufacturers have switched toward electric aircraft as emission rules have become more stringent. The electric aircraft industry is expanding as aircraft OEMs see the architecture's potential benefits, including higher fuel efficiency, lower maintenance costs, and increased reliability through the use of current power electronics.

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Furthermore, engine installation uses fewer hydraulic and pneumatic components. In the coming years, more electric aircraft with short ranges are expected to become practical for regional transportation. Most pneumatic systems present on standard commercial airplanes are replaced by electrical systems in electric aircraft. Using bleed air, classic aircraft engines meet the power requirements of the majority of secondary aviation systems. Engines supply power to shaft-driven generators, which cater to the power needs of most aviation systems in the no-bleed design present in electrical craft. Engines and electric-motor-driven hydraulic pumps power hydraulic systems in electric boats, while engines and auxiliary-power-unit (APU)-driven generators power electrical systems.

Restraints:

Connectivity issues of electric aircraft and requirement of frequent maintenance

Controlling high voltage at altitude is more difficult than it is on the ground. As a result of lower air densities at altitude, high voltage can ionize nearby air particles more quickly, with disastrous consequences, because less confined particles can achieve greater velocity sooner. The released energy causes a corona discharge, which results in power losses through holes, cavities, and electrical treeing in insulation. Since the strong electrical field cannot be contained by the material(s) in the vicinity, electrical discharges can arise across a voltage gap between two points or surfaces.

The discharge can also cause electrical arcing, which can start a fire. Electric aircraft travel shorter distances than commercial airplanes and are expected to perform multiple takeoffs and landings per day. Interconnects must be dependable and able to endure vibration and shock caused by more frequent landings and takeoffs. As electric crafts fly over densely populated metropolitan areas, dependability is critical. Electronic/electrical compartments must be easily inspected to assist ensure performance.

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Growth Projections:

The electric aircraft market is expected to register a CAGR of 15.5% over the forecast period and revenue is projected to increase from USD 7.80 Billion in 2021 to USD 28.35 Billion in 2030.

Current Trends and Innovations:

Scientists and industrialists are collaborating to create highly advanced, cutting-edge propulsion technologies. Development of all-electric propulsion systems for aircraft is an important component of the framework. The aircraft's propulsion system consists of an engine and a thrust generator. Thrust generators are also referred to as propellers or propulsive nozzles. Electric propulsion system appears to be the most realistic option for energy-efficient, ecologically beneficial, and noise-free airplane propulsion. An electric motor is quieter than a gasoline engine. It needs to nevertheless drive a propulsor—a rotor, propeller, or fan—which generates noise during takeoff and climb out. However, when taxiing and cruising, electric propulsion will be quieter. Electric motors can allow for distributed propulsion systems with a number of smaller, quieter rotors or fans.

Strategic Initiatives:

Major companies included in the market report are Eviation Aircraft, Airbus SE, Pipistrel, Lilium GmbH, Elbit Systems Ltd., Israel Aerospace Industries, Aerovironment Inc., Joby Aviation Inc., Vertical Aerospace Group Ltd. and Ehang Holdings Ltd.

• On July 28, 2021, Lilium GmbH, a global pioneer in regional electric air mobility, joined forces with Customcells, a German maker of customer-specific lithium-ion battery cells. Customcells, which supplies major aviation, automotive, and military customers such as Porsche AG, will be one of Lilium's primary suppliers, producing lithium-ion batteries on a large scale for the all-electric 7-seater Lilium Jet.
• On April 07, 2021, Airbus stated that by 2024, it intends to replace the mechanical rudder controls on the A320 neo series of aircraft with a fully electronic rudder system. The modification will occur around the same time as the long-range A321XLR, which is being constructed with the E-rudder in mind.

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Scope of Research

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Emergen Research has segmented electric aircraft market on the basis of type, system, application, and region:

• Type Outlook (Revenue, USD Billion; 2019–2030)
• Hybrid Wing
• Fixed Wing
• Rotary Wing
• System Outlook (Revenue, USD Billion; 2019–2030)
• Aero-structures
• Avionics
• Batteries
• Software
• Electric Motors
• Others
• Application Outlook (Revenue, USD Billion; 2019–2030)
• Civil
• Military
• Regional Outlook (Revenue, USD Billion, 2019 - 2030)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Rest of APAC
• Latin America
• Brazil
• Mexico
• Rest of LATAM
• Middle East & Africa
• UAE
• Saudi Arabia
• Africa
• Rest of Middle East

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