Europe Aircraft Electric Power System Market was valued at USD 2.00 Billion in 2022 and is projected to reach USD 4.20 Billion by 2030, growing at a CAGR of 9.00% from 2024 to 2030.
The European aircraft electric power system market is experiencing remarkable growth, propelled by technological advancements and a strong push towards sustainable aviation. In 2023, the market generated revenues of approximately USD 6.74 billion, with projections estimating a rise to USD 10.18 billion by 2030, reflecting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2030. This surge is primarily driven by the industry's shift towards More Electric Aircraft (MEA) and the integration of hybrid-electric propulsion systems.
One of the key drivers of this transformation is the European Union's commitment to reducing carbon emissions. Initiatives such as Project Fresson exemplify this effort, aiming to convert existing aircraft to hybrid-electric propulsion, thereby lowering emissions and operational costs. The project involves collaborations with industry leaders like Rolls-Royce and aims for a 60-minute endurance with energy costs five times cheaper than traditional aviation gasoline.
Technological innovations are central to the market's evolution. The development of advanced power generation, distribution, conversion, and energy storage systems is crucial. For instance, the Airbus E-Fan X program, although eventually canceled, provided valuable insights into electric propulsion technologies, influencing future projects and regulatory frameworks for electric aircraft certification.
Industry requirements are evolving to meet these technological advancements. There's a growing demand for lightweight, high-capacity batteries and efficient power management systems to support electric and hybrid-electric aircraft. Regulatory bodies are enforcing stricter emissions standards, prompting manufacturers to accelerate the development of sustainable power solutions. Government funding and incentives are also playing a significant role in driving innovation and adoption of electric power systems in aviation.
In parallel, the market for 100 Gigabit Fiber Optic Transceivers is expanding, driven by the increasing need for high-speed data transmission in various industries, including aerospace. These transceivers are essential for supporting the data-intensive applications of modern aircraft systems, highlighting the interconnectedness of technological advancements across sectors.
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AMETEK
Safran
Astronics Corporation
Amphenol Corporation
Esterline Technologies
Honeywell
Meggitt
Thales Group
United Technologies Corporation
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Aircraft Electric Power System Market
Commercial Aircraft
Military Aircraft
Business Aircraft
Helicopters
Engine-Driven
Auxiliary Power Unit (APU)
Battery-Driven
Fuel Cell-Based
AC Power System
DC Power System
Hybrid Power System
Generators
Inverters
Transformers
Batteries
Converters
Power Distribution Units
Control Units
Flight Control Systems
Lighting Systems
Avionics
Cabin Systems
Landing Gear Systems
Environmental Control Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Aircraft Electric Power System Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Aircraft Electric Power System Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Aircraft Electric Power System Market, By Type
6. Europe Aircraft Electric Power System Market, By Application
7. Europe Aircraft Electric Power System Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Aircraft Electric Power System Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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