Energy storage segment in More electric aircraft market is anticipated to witness significant growth pertaining to the key role of the battery technology to power more electric aircrafts. More electric aircraft market will experience growing demand for energy storage devices owing to the presence of several electric components as compared to the conventional aircrafts.
Moreover, these aircrafts necessitate both the main and auxiliary battery power sources for powering the aircraft and core components which should foster the penetration of energy storage devices. As more electric aircrafts are fully based on energy storage devices, ongoing advancements in battery technologies to optimize storage capacity and charging time is expected to impel the industry outlook.
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Rapid growth in passenger air traffic coupled with increasing shift toward fuel efficient airplanes will drive more electric aircraft market growth. Aircraft manufacturers have been looking to introduce electric airplanes offering multiple benefits such as light weight structure, decreased noise. Also, these planes possess fewer moving parts which results in less maintenance cost, which would be an added advantage for airline companies which are striving to survive in a highly competitive business landscape.
Rising importance of higher weight to fuel ratio in aircraft along with development of advanced flight control systems will support the more electric aircraft market growth. The usage of electric system in flight control operation such as braking, enhances the braking safety, comfort, and efficiency. Additionally, electric systems minimize overall ownership costs owing to replacement of hydraulic lines and pistons with electromechanical actuators.
Innovations in area of the power electronic equipment such as high temperature electronics along with stringent on-board electrical hardware safety regulations proliferate more electric aircraft market growth. For instance, American Society For Testing Materials (ASTM) international committee regulates the design, alteration and certification for airplane electrical systems. These regulatory reforms mandates manufacturers to strengthen manufacturing or production processes. Additionally, companies are investing in R&D to enhance the heat dissipation of the electrical systems with developing heat sinks and using special resins over a large surface area.
The power electronics segment will account for a considerable growth owing to increase in the sales of military aircrafts. The various benefits offered by such systems includes easier maintenance, light weight, more controllability and easier fault detection and diagnosis, thus increasing product penetration. These systems further enhance the generator and actuator operation and enable energy regeneration that increase the more electric aircraft market demand.
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Power generation will register significant growth in more electric aircraft market owing to incorporation of secondary electric power systems in aircrafts. The secondary power system in conventional aircrafts are utilizing hydraulic and mechanical power that consumes around 5% of the fuel burnt during flight. The usage of new power generation units reduces the operational cost and thereby increases product penetration.
Prominent players in the more electric aircraft market includes Boeing, Airbus, Honeywell International, United Technologies, Safran, Zodiac aerospace, Bombardier, and Raytheon. The industry participants are engaged in strategic mergers and acquisition to enhance their portfolio and market share.
Some Points From Table Of Content: –
Chapter 5. More Electric Aircraft Market, By System
5.1. Global more electric aircraft market share by system, 2018 & 2025
5.2. Power Electronics
5.2.1. Global market estimates and forecasts, 2013 – 2025
5.2.2. Market estimates and forecast, by region, 2013 – 2025
5.3. Thermal Management System
5.3.1. Global market estimates and forecasts, 2013 – 2025
5.3.2. Market estimates and forecast, by region, 2013 – 2025
5.4. Safety System & Advanced Material
5.4.1. Global market estimates and forecasts, 2013 – 2025
5.4.2. Market estimates and forecast, by region, 2013 – 2025
5.5. Energy Storage Devices
5.5.1. Global market estimates and forecasts, 2013 – 2025
5.5.2. Market estimates and forecast, by region, 2013 – 2025
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