The More Electric Aircraft Market report by the publisher projects the market to grow at a CAGR of 14.84% on the basis of value during the forecast period from 2020 to 2025.
North America is expected to dominate the global more electric aircraft market with an estimated share of 34.66% in 2019.
North America, including the major countries such as the U.S., is the most prominent region for the more electric aircraft market.
The U.S. has a presence of major more electric aircraft system and technology providers such as Raytheon Technologies Corporation (previously UTC), GE Aviation, Astronics, and Honeywell International.
The global more electric aircraft market is gaining widespread importance owing to increasing efforts from companies such as major OEMs and aircraft system providers as well as their increasing investment for developing enhanced technological systems that support the more electric aircraft trend.
Moreover, the development of technologies such as hybrid or electric propulsion, development of light, efficient, high power density generators and motors, and high-density battery for capacity are some of the factors that may propel the market growth.
Key Companies in the Global More Electric Aircraft Market
The key market players in the global more electric aircraft market include Boeing, Thales, Raytheon Technologies Corporation (previously UTC), TTTech Computertechnik AG, Safran, Lockheed Martin, Rolls Royce, Israel Aerospace Industries (IAI), Honeywell International, Inc., GE Aviation, Elbit Systems, BAE Systems, Bombardier, Astronics, and Airbus, among others.
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