More Electric Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The More Electric Aircraft Market Report is Segmented by Application (Commercial Aviation, Military Aviation, and General Aviation) and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecasts for all the Above Segments in Value (USD).


More Electric Aircraft Market Size

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More Electric Aircraft Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 3.89 Billion
Market Size (2029) USD 7.24 Billion
CAGR (2024 - 2029) 13.22 %
Fastest Growing Market North America
Largest Market Asia Pacific

Major Players

More Electric Aircraft Market Major Players

*Disclaimer: Major Players sorted in no particular order


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More Electric Aircraft Market Analysis

The More Electric Aircraft Market size is estimated at USD 3.89 billion in 2024, and is expected to reach USD 7.24 billion by 2029, growing at a CAGR of 13.22% during the forecast period (2024-2029).

Recent technological advances in power electronics, fault-tolerant architecture, electro-hydrostatic actuators, flight control systems, high-density electric motors, and power generation and conversion systems have boosted the growth of the more electric aircraft market.

With increasing focus on eco-friendly aircraft, many regulations have been imposed on aircraft emissions. Due to the stringency of emission regulations, manufacturers are shifting toward more electric aircraft. The demand for more electric aircraft is growing as original equipment manufacturers (OEMs) for aircraft realize the architecture's potential advantages, like improved fuel efficiency, reduced maintenance costs, and enhanced reliability using modern power electronics.

In addition, engine installation has fewer hydraulic and pneumatic components. In the coming years, more electric aircraft with short ranges are expected to become viable for regional transportation. On the other hand, the lack of suitable infrastructure, the high cost associated with propulsion systems, and investment risks may hamper the market's growth.

More Electric Aircraft Market Trends

The Commercial Segment is Expected to Dominate the Market During the Forecast Period

The aviation industry generates 2-3% of the world’s human-generated carbon dioxide emissions and around 12% of the CO2 emissions from all transportation sources. Thus, to lower its impact on the environment and improve the sustainability of operations, the commercial aviation sector has committed to achieving net-zero air transport emissions by 2050.

The aviation industry is focused on improving aircraft performance, reducing gas emissions, increasing dispatch reliability, and reducing maintenance costs. The key original equipment manufacturers (OEMs) are working on introducing advanced technologies through research and development (R&D) and adopting hybrid electric-powered or more electric aircraft. The more electric aircraft (MEA) concept utilizes electric power for non-propulsive systems. Traditionally, the systems were driven by various secondary power sources such as mechanical, pneumatic, hydraulics, and electrical.

Technological advancements in fault-tolerant architecture, power electronics, flight control systems, electro-hydrostatic actuators, high-density electric motors, and power generation and conversion systems lead to the growing adoption of more electric aircraft, driving the market’s growth. More electric aircraft in the commercial aviation segment include the Boeing 787 and Airbus A350 XWB. Over the years, major aircraft manufacturing companies like Airbus SE and The Boeing Company have introduced more electric architecture to their commercial aircraft. Thus, growing expenditure on research and development and introducing advanced electric aircraft are driving the market’s growth.

More Electric Aircraft Market: Carbon Dioxide Emissions From the Aviation Sector, in Million Metric Tons, Global, 2018-2022

North America is Expected to Dominate the Market During the Forecast Period

North America is a large market for more electric aircraft due to the huge amount of aircraft deliveries that incorporate more electric architecture into the US. The necessary infrastructure and a strong emphasis on research and development in the electrification of aircraft subsystems are expected to aid the growth of the more electric aircraft market in North America. For instance, in 2021, Lockheed Martin Corporation delivered 142 F-35 fighter jets to the US and its allies. The power-by-wire system of the F-35 represents an essential advancement in more electric aircraft technology. It integrates self-contained electro-hydrostatic actuators (EHAs) to control the primary flight surfaces.

The increasing environmental concerns and stringent regulations for aircraft emissions are the major factors responsible for the dominance of the more electric aircraft market in the region. Though the deliveries of wide-body aircraft like the Boeing B787 Dreamliner and Airbus A350 XWB have slowed down in the region, airlines still have several aircraft on order due for delivery. For instance, in October 2023, BETA Technologies, a Vermont-based electric aircraft startup company, deployed its ALIA, a fully electric aircraft, to Eglin Air Force Base in Florida. The ALIA has flown 336 nautical miles in a single charge. Such demand for new models of more electric aircraft from the commercial and military segments is expected to drive the market in North America during the forecast period.

More Electric Aircraft Market: Market CAGR (%), By Region, Global, 2023

More Electric Aircraft Industry Overview

The more electric aircraft market is semi-consolidated due to a few global players holding significant shares in the market. Some key players in the market are RTX Corporation, General Electric Company, Safran, Honeywell International Inc., and Eaton Corporation PLC. Major players are currently focused on developing advanced electric architecture platforms to keep up with the increasing demand for more electric components. However, due to the complexity of aerospace testing, players need help validating these systems and components.

Players are investing in infrastructure to develop more electric architecture systems to address this issue. For example, Collins Aerospace (RTX Corporation) is building a specialized lab, The Grid, which will be the most advanced electric power systems laboratory. The lab will enable the design and evaluation of systems like high-power generators for the next generation of more electric aircraft, including commercial, military, business aviation, UAV, and urban air mobility platforms. Similarly, in April 2021, Airbus announced its plans to replace the mechanical rudder controls on A320 Neo-family aircraft with an entire electric rudder system, expected to be completed by early 2024. Such developments from OEMs will drive market growth in the coming years.

More Electric Aircraft Market Leaders

  1. Honeywell International Inc.

  2. RTX Corporation

  3. Safran

  4. General Electric Company

  5. Eaton Corporation plc

*Disclaimer: Major Players sorted in no particular order

More Electric Aircraft Market Concentration
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More Electric Aircraft Market News

March 2024: Airbus unveiled its full electric CityAirbus NextGen prototype at the inauguration of the new CityAirbus test center in Donauwörth, Germany. The new facility is designed to test systems for eVTOLs and is part of Airbus’ ongoing and long-term investment in Advanced Air Mobility (AAM).

July 2023: Boeing and its subsidiary Aurora Flight Sciences partnered with GE Aerospace to support the flight tests using a modified Saab 340B aircraft as part of NASA’s Electrified Powertrain Flight Demonstration (EPFD) project.

More Electric Aircraft Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry


    1. 5.1 Application

      1. 5.1.1 Commercial Aviation

      2. 5.1.2 Military Aviation

      3. 5.1.3 General Aviation

    2. 5.2 Geography

      1. 5.2.1 North America

        1. United States

        2. Canada

      2. 5.2.2 Europe

        1. United Kingdom

        2. France

        3. Germany

        4. Rest of Europe

      3. 5.2.3 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      4. 5.2.4 Latin America

        1. Brazil

        2. Rest of Latin America

      5. 5.2.5 Middle East and Africa

        1. Saudi Arabia

        2. United Arab Emirates

        3. Rest of the Middle East and Africa


    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 The Boeing Company

      2. 6.2.2 Airbus SE

      3. 6.2.3 Lockheed Martin Corporation

      4. 6.2.4 Safran

      5. 6.2.5 Honeywell International Inc.

      6. 6.2.6 RTX Corporation

      7. 6.2.7 General Electric Company

      8. 6.2.8 Moog Inc.

      9. 6.2.9 Parker-Hannifin Corporation

      10. 6.2.10 Eaton Corporation PLC


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More Electric Aircraft Industry Segmentation

In more electric aircraft (MEA), electrical systems replace most pneumatic systems found on traditional commercial airplanes. In conventional aircraft, the engines use bleed air to cater to the power requirements of most secondary airplane systems. In the no-bleed architecture found in MEA, the engines provide power to shaft-driven generators, catering to the power needs of most airplane systems. In MEA, hydraulic systems are driven by engines and electric-motor-driven hydraulic pumps, and electrical systems are driven by engines and auxiliary-power-unit (APU)-driven generators.

The more electric aircraft market is segmented by application and geography. By application, the market has been segmented into commercial, military, and general aviation. The report also covers the market sizes and forecasts for the more electric aircraft market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).

Commercial Aviation
Military Aviation
General Aviation
North America
United States
United Kingdom
Rest of Europe
South Korea
Rest of Asia-Pacific
Latin America
Rest of Latin America
Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of the Middle East and Africa
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More Electric Aircraft Market Research FAQs

The More Electric Aircraft Market size is expected to reach USD 3.89 billion in 2024 and grow at a CAGR of 13.22% to reach USD 7.24 billion by 2029.

In 2024, the More Electric Aircraft Market size is expected to reach USD 3.89 billion.

Honeywell International Inc., RTX Corporation, Safran, General Electric Company and Eaton Corporation plc are the major companies operating in the More Electric Aircraft Market.

North America is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia Pacific accounts for the largest market share in More Electric Aircraft Market.

In 2023, the More Electric Aircraft Market size was estimated at USD 3.38 billion. The report covers the More Electric Aircraft Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the More Electric Aircraft Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

More Electric Aircraft Industry Report

Statistics for the 2024 More Electric Aircraft market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. More Electric Aircraft analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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More Electric Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)