According to TMR, the Global More Electric Aircraft Market is accounted for $7.10 billion in 2017 and is expected to reach $14.43 billion by 2026 growing at a CAGR of 8.2%. Optimized aircraft performance, reduced operating & maintenance cost and increase in aircraft deliveries are some of the factors propelling the growth of the market. However, a high amount of investment and longer clearance period likely to hamper the profit boundaries.
More Electric Aircraft (MEA) provides for the utilization of electric power for all non-propulsive systems. Traditionally these non-propulsive systems are driven by a combination of different secondary power sources such as hydraulic, pneumatic, mechanical and electrical. Adoption of the MEA concept is seen as a significant enabler for the aircraft industry to unlock major improvements in terms of aircraft weight, fuel consumption, total life-cycle costs, maintainability and aircraft reliability.
Based on the platform, the Unmanned Aerial Vehicles (UAV) segment is accounted for the largest growth in the forecast period. UAV is an aircraft without a human pilot on board. They can be controlled by onboard electronic equipments or via control equipment from the ground. When it is remotely controlled from ground it is called RPV (Remotely Piloted Vehicle) and requires reliable wireless communication for control. By geography, North America witness significant growth in the more electric aircraft market size owing to the increasing defense expenditure across the region.
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Some of the key players in the More Electric Aircraft market include Rolls Royce, Honeywell International, Inc., Thales Group, Lockheed Martin, Zodiac Aerospace SA, Safran Sa, United Technologies Corporation, Airbus, Raytheon Company and Bombardier Inc.
• Fixed Wing
• Rotary Wing
• Unmanned Aerial Vehicles (UAV)
• Safety Systems and Advanced Material
• Power Electronics
• Energy Storage Devices
• Thermal Management Systems
• Air Pressurization & Conditioning
• Configuration Management
• Flight Controls & Operations
• Passenger Comfort
• Power Distribution
• Power Generation Management
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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