The Electric Aircraft Market is expected to grow at a CAGR of 35.76% over 2020-2027 and is anticipated to reach USD 1.27 billion by 2027
YORK CITY, NEW YORK, UNITED STATES, September 2, 2021 /EINPresswire.com/ — The global electric aircraft market is expected to reach USD 937.01 million by 2026, according to a new report by Reports and Data. Electrical systems not only offer the capability to reduce CO2 emissions, but are also likely to unlock the potential for more energy-efficient aircraft and brand new architectures. Based on a study, if all domestic air transportation in Norway could be converted to electric power, there is a potential to reduce the emission of 1.2 million tons of CO2 equivalents. Converting to electricity is likely to eliminate emissions of greenhouse gases as well as nitrous oxides (NOx), hydrocarbons, and particulate matter.
Asia Pacific is expected to be a key revenue generating region in the forecast period. The market is projected to reach USD 67.64 million in the forecast period. Manufacturers in Asia Pacific are also trying to introduce their aircrafts in the market. In 2017, China announced mass production of their two-seater electric aircraft: RX1E. With a fully charged battery, a maximum takeoff weight of 480 kg and a cruise speed of up to 160 kilometers per hour, RX1E is projected to fly 90 minutes. The electric aircraft is expected to serve a wide range of services starting from police patrols, flight training, entertainment and mapping surveys.
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
3.1. Macro Indicators
3.1.1. Total fuel consumption of commercial airlines
3.1.2. Fuel impact on operating cost of airlines
3.1.3. Increasing aviation oil consumption
3.1.4. Rising greenhouse gas emission
3.1.5. Increasing demand for air travel
Chapter 4. Electric Aircraft Market Segmentation & Impact Analysis
4.1. Electric Aircraft Segmentation Analysis
4.2. Regulatory Framework
4.3. Technological Insights
4.4. Classification of electrically-propelled aircraft projects
4.5. Electric Aircraft Market Impact Analysis
4.5.1. Market driver analysis
22.214.171.124. Better efficiency and MRO
126.96.36.199. Reduced carbon-dioxide emission
4.5.2. Market restraint analysis
188.8.131.52. Battery Performance
4.6. Key opportunities prioritized
4.7. Porter’s Five Force Analysis
4.8. PESTEL Analysis…
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Further key findings from the report suggest
Aircraft battery is projected to be one of the fastest growing component of the Electric Aircraft market. Aircrafts generally use lithium-ion batteries owing to their light weight, much higher energy density, longer cycle life, and ability to provide deep discharges. However, short-term bottlenecks in the supplies of some key metals used in the manufacturing of these batteries especially cobalt is likely to drive the demand away from Li-ion batteries to lithium Sulphur (Li-S) batteries.
Asia Pacific market is forecasted to reach USD 67.64 in 2026. The region has witnessed an increase in investment in electric aircrafts from the key investment groups. For instance: Recently, EDBI, Singapore’s corporate investor, announced joining Intel Capital and Capricorn Investment Group for the funding of the all-electric vertical take-off and landing (eVTOL) passenger aircraft by Joby Aircraft.
Key participants include Zunum Aero, Yuneec International, Pipistrel, Bye Aerospace, Digisky, Eviation, Faradair Aerospace Limited, Airbus and XTI Aircraft Company. Boeing is a key player in the Electric Aircraft market. Recently, the company paired with Japanese government to develop technologies for light-weight next generation aircraft.
Key reasons to buy this report:
The latest report comprehensively studies the global Electric Aircraft market size and elaborates on the latest market trends & developments and new product offerings.
It offers an insightful analysis of the Electric Aircraft market’s regional landscape.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report identifies the most effective business strategies implemented by the market players for ideal business expansion.
Furthermore, the report explains the macro-economic and micro-economic factors influencing market growth and highlights the potential investment opportunities, new and existing pricing structures, and emerging product application areas in the global market.
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For the purpose of this report, Reports and Data have segmented global Electric Aircraft on the basis of type, component, technology, range and region:
Type Outlook (Revenue, USD Million, 2018-2026)
Component Outlook (Revenue, USD Million, 2018-2026)
Technology Outlook (Revenue, USD Million, 2018-2026)
All Electric Aircraft
Range Outlook (Revenue, USD Million, 2015-2026)
Less than 500kms
More than 1000kms
Regional Outlook (Revenue, USD Million, 2018-2026)
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