Global Electric Aircraft Market size is projected to be valued $14.9 Million by 2025; with a CAGR of 7.5% from 2017 to 2025. An electric aircraft is such an aircraft which is powered by electric motors through electricity supplied by a variety of energy sources such as batteries, fuel cells, solar cells, ultra capacitors, and power beaming. Batteries are the most common energy carriers used by electric aircrafts due to its relatively high capacity. It also helps to protect the environment by eliminating the need for the use of fossils fuels to run the engine of the aircraft.
Key factors driving the growth of the global electric aircraft market include advantages of electric aircraft compared to traditional aircraft, and lower cost of ownership of electric aircraft. But, necessity for development of high-density battery solutions for electric aircraft may limit the growth of the electric aircraft market. Additionally, electrification of large commercial jets would provide new opportunities for players in this market.
The electric aircraft market has been categorized on the basis of aircraft type, component, technology, power density, and geography. By aircraft type, the market is further classified into light jet, and ultra-light aircraft. By component, market is categorized into electric motor, battery, and other components. Technology includes hybrid, and all electric. By power density, the market is separated into More than 500 km, and Less than 500 km.
Global electric aircraft market, on the basis of geography is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Major companies operating in the global electric aircraftmarket areZunum Aero, Bye Aerospace, Lilium, PC Aero, Eviation Aircraft, Schempp-Hirth, Yuneec International, Volta-Volaré, Electric Aircraft Corporation, and Pipistrel, amongothers.
The key takeaways from the report
Scope of the Global Electric Aircraft Market
Aircraft Type Segments
Power Density Segments