Driving assessment

The electrified aircraft propulsion market is expected to

DUBAI, United Arab Emirates, March 24, 2022 (GLOBE NEWSWIRE) — The market for electrified aircraft propulsion to share is expected to reach $6 billion in 2021 and $20 billion by 2030with a 14.3% CAGR during the projected time frame. The adoption of cleaner and greener aircraft, advances in sophisticated air mobility, and alternative energy sources are all advancing the demand for electrified aircraft propulsion.

Attributes Details
CAGR of Electrified Aircraft Propulsion Market (2022-2032) 14.3%
Electrified Aircraft Propulsion Market (2021) US$6 billion
Electrified Aircraft Propulsion Market (2030) US$20 billion

Due to the announced lockdowns and government restrictions on public meetings due to the COVID-19 outbreak, research and development in the electrified aircraft propulsion market has been hampered across the globe.

To stay “ahead” of your competitors, request a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-14414

The pandemic has slowed component production, including lithium-ion batteries and other power electronics parts. As the world returns to normal, sales of electrified aircraft propulsion will see a significant increase.

The shortage of spare parts hinders further research and development of prototypes. Due to current constraints, companies are unable to test their prepared prototypes, but this should restart once restrictions on aircraft propulsion are lifted.

With the growing size of the global aircraft fleet and increasing air travel, emissions problems are expected to increase further.

As a result, there is a desire for electrified aircraft, which is likely to help reduce carbon emissions. Institutions and local authorities such as the International Civil Aviation Organization, the Federal Aviation Administration and the European Union Aviation Safety Agency have called for viable alternatives for jet fuels.

Manufacturers are striving to change efficiency by replacing hydraulically driven systems with electric ones in aircraft electrification.

Low battery energy density is one of the most significant issues electric aircraft manufacturers face when it comes to long-haul flights. The unit of measurement of watt-hours per kilogram (Wh/kg) for aircraft propulsion is commonly used.

For critical information on this market, ask to ask an expert here @ https://www.futuremarketinsights.com/ask-question/rep-gb-14414

Current lithium-ion batteries have an energy density of 250 Wh/kg, which is far lower than the 12,000 Wh/kg energy density offered by conventional kerosene or jet fuel. Therefore, all-electric long-haul commercial flights are still a long way off, as fossil fuels are 14 times more energy-intensive than battery-powered alternatives.

Some of the major factors driving the growth of the global aircraft electrification market are an increase in global government concerns over environmental pollution, stringent rules regarding carbon emissions from aircraft by the aviation industry to reduce aircraft noise and low operating costs.

The limited range and capacity of electric aircraft, on the other hand, are expected to hamper the market expansion. On the other hand, advancements in superior power electronics and lithium-ion battery technology are expected to open an attractive potential for the electrified aircraft propulsion market.

Key points to remember

  • With a market dominance of 24.3% in 2021, the battery sector is expected to drive the electrified aircraft propulsion market over the projected period.
  • According to the technology, the hybrid electric aircraft segment of the aircraft electrification market is expected to grow at the fastest rate during the forecast period.
  • From 2021 to 2030, the North American market is expected to contribute the most. The growing demand for new aircraft in North America is one of the main reasons for the region’s leadership in the electrified aircraft propulsion market.
  • Turbogenerators to power electric motors and batteries, electric actuators and fly-by-wire are among the latest innovative technologies in the field of aeronautical electrification.

For more information or a query or customization before buying, visit: https://www.futuremarketinsights.com/customization-available/rep-gb-14414

Competitive landscape

To consolidate their power in the electrified aircraft propulsion market, the major players have used a variety of organic and inorganic techniques.

Safran, Thales Group, Raytheon Technologies and GE Aviation have used a number of strategies to expand their market position, including acquisitions, contracts, new product launches, collaborations and agreements.

RECENT DEVELOPMENTS

GE Aviation selected Boeing in February 2022 to assist with flight testing of its hybrid-electric propulsion system on a modified Saab 340B aircraft with CT7-9B turboprops.

GE Aviation will obtain aircraft modification, systems integration and flight test services from Boeing and its subsidiary Aurora Flight Sciences.

MagniX and DESAER, a Brazilian aerospace company, established a cooperation in February 2022 to develop the ATL-100H, a hybrid-electric version of the ATL-100 regional aircraft.

Depending on the operating range, the ATL-100H is expected to save 25-40% fuel, which is a significant reduction in carbon emissions. The groundbreaking design of the ATL-100H hybrid-electric aircraft is the first step towards DESAER’s goal of developing an all-electric aircraft, responding to the growing global recognition of the need to advance sustainable aviation practices.

To purchase this report, visit @ https://www.futuremarketinsights.com/checkout/14414

Explore broad coverage of IMF’s oil and gas market insights landscape

Traction Battery Market – The demand for traction batteries is expected to exceed US$72 billion by 2032, growing at a staggering CAGR of 12% over the forecast period 2022-2032.

Clean Coal Technology Market – The global clean coal technology market is expected to exceed US$5.4 billion by the end of 2032. Clean coal technology demand is expected to reach US$3.8 billion by 2022, showing growth at a CAGR of 4% during the forecast period 2022-2032.

Modular Uninterruptible Power Supplies (UPS) Market – According to the Future Market Insights report, the Modular Uninterruptible Power Supplies (UPS) market is expected to grow from USD 3.7 billion in 2020 to USD 6.0 billion by 2025, at a compound annual growth rate (CAGR) of 10.3% throughout the projected period.

Carbon Capture and Storage Market – The global carbon capture and storage market is expected to reach approximately US$4.2 billion in 2022. With the increasing adoption of carbon capture and storage technologies globally, aggregate demand is expected to grow at over 14% CAGR from 2022 to 2032, totaling a valuation of approximately US$9 billion by 2032.

Green Inverter Market – The global demand for green inverter is expected to increase at a substantial rate during the forecast period of 2022 to 2032

North and Central America proppants market – The demand for North and Central America proppants is expected to exceed US$1.1 billion by 2022. Market sales are expected to total US$1.86 billion by the end of 2032,

Protection Relays Market – Insights revealed by the Protection Relays market valuation shows substantial gains with the market growing at around 5.5% to 6.5% CAGR from 2021 to 2031.

Traction Transformer Market – Insights revealed by Traction Transformer market valuation shows substantial gains with the market growing at around 4.5% to 5.5% CAGR from 2021 to 2031.

Portable Fuel Cell Market – According to the latest research estimates, the portable fuel cell market is expected to witness lucrative growth over the next decade.

Portable Power Station Market – According to research estimates, the portable power station market is expected to witness robust growth over the next decade, i.e., 2021-2031.

About Future Market Insights (IMF)

Future Market Insights (FMI) is a leading provider of market information and advisory services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, USA and India. FMI’s latest market research reports and industry analysis help businesses meet challenges and make critical decisions with confidence and clarity amidst fierce competition. Our custom and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of analysts led by FMI experts continuously monitor emerging trends and events across a wide range of industries to ensure our clients are prepared for the changing needs of their consumers.

Contact:

future market outlook,
1602-6 Jumeirah Bay Tower X2,
Parcel number: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For sales inquiries: [email protected]
For media inquiries: [email protected]
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/electrified-aircraft-propulsion-market