In this market research report, Technavio covers the market outlook and growth prospects of the global more electric aircraft market for 2017-2021. The market is further categorized into manned MEA and un-manned MEA based on application segment. The manned MEA accounted for more than 67% of the market share in 2016.
“The rising concern for environmental protection and the decreased weight of aircraft due to the incorporation of electric systems are the major factors fueling the market,” says Avimanyu Basu, a lead aerospace research expert from Technavio.
Technavio’s aerospace and defense research analysts segment the global more electric aircraft market into the following regions:
In 2016, with a market share of over 43%, the Americas emerged as the market leader in the global MEA market, followed by EMEA with close to 35% and APAC with 22%.
MEA market in Americas
The Environmental Protection Agency (EPA) said that the US air transportation sector contributed 11% of the global greenhouse gas emissions and 29% of the global aircraft emissions. Such numbers made many environmental groups in the US to define stringent regulations under the Clean Air Act. Also, heavy tolls on stringent noise regulations have encouraged the adoption of MEA, which is anticipated to consume close 25% less fuel than the conventional planes.
“This will cut down CO₂ emissions, thereby saving ozone layer depletion, and generate less noise during landing and take-off,” says Avimanyu.
Request a sample report: http://www.technavio.com/request-a-sample?report=56730
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
MEA market in EMEA
Technavio expects that the more electric airplane market in EMEA will witness increasing investments in Europe. Further, European Union’s Flightpath 2050 program is also going to boost the market as by 2050; the program aims to reduce CO₂ emissions by 75% per passenger kilometer from the levels recorded in 2000.
For instance, the European aircraft manufacturer, Airbus, is planning to commercialize its E-Fan 2.0 by 2017, which would have relatively less noise and control greenhouse gas emissions. This step will be followed by the launch of its next version 4.0 in 2019.
MEA market in APAC
Technavio expects that the MEA aircraft market in APAC will post a CAGR of close to 5% during the forecast period, as countries like India, China, Japan, and Australia are significantly contributing toward the MEA market for APAC.
For instance, in 2016, India's Vijayawada-based Air Costa placed an order worth more than USD 2.9 billion with the Brazilian aircraft manufacturer, Embraer, as an add-on to its already purchased Embraer E-170 and E-190. It is expected that India-based SpiceJet airline will also engage in a deal with the Brazilian manufacturer.
The top vendors in the global more electric aircraft market as highlighted in this market research analysis are:
- Honeywell International
Browse Related Reports:
- Global Aircraft Vertical Stabilizers Market 2017-2021
- Global Aviation Actuation Systems Market 2016-2020
- Global Airport Passenger Screening Systems Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like aerospace components, aerospace manufacturing, and aerospace products. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.