More Electric Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The More Electric Aircraft Market is Segmented by Application (Commercial, Military, and General Aviation) and Geography (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa). The report offers market size and forecasts for all the above segments in value (USD billion).

More Electric Aircraft Market Size

More Electric Aircraft Market Summary
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR > 6.00 %
Fastest Growing Market North America
Largest Market North America
Market Concentration Medium

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 is projected to witness a CAGR of more than 6% during the forecast period.

  • The COVID-19 pandemic affected air passenger traffic globally in 2020 and 2021 in several parts of the world, reducing flight activity and impacting airline cash flows. As a result, most airlines have decided to either cancel or defer their aircraft orders. On the other hand, commercial aircraft OEMs have trimmed their production rates as the pandemic decreased demand for new jets. While the COVID-19 situation normalized in 2021 and 2022, the passenger traffic segment and the aircraft delivery segment gained a stable position in the market, which supports the market's growth in the coming years.
  • 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 promoted the more electric aircraft market. With the increasing focus on eco-friendly aircraft, many regulations have been imposed on aircraft emissions. With the increased stringency of emission regulations, manufacturers have shifted toward more electric aircraft.
  • The more electric aircraft market is growing as aircraft original equipment manufacturers (OEMs) realize the architecture's potential advantages, like improved fuel efficiency, reduced maintenance costs, and enhanced reliability using modern power electronics. In addition, there are fewer hydraulic and pneumatic components in engine installation. More electric aircraft with short ranges are expected to become viable for regional transportation in the coming years.

More Electric Aircraft Market Trends

Commercial Segment Held the Largest Market Share

  • The commercial segment is expected to hold the highest market share in the more electric aircraft market. There are only a few more electric aircraft in this segment, including 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. 
  • For its A380 and A350 models, Airbus successfully replaced three hydraulic systems with two electric systems, proving the technology safe for aircraft. Airbus plans to replace hydraulic power systems with electrical generators on wide-body aircraft. Boeing B787 is one of the pioneers of more electric architecture systems. The aircraft uses electric systems to replace those previously powered by hydraulics or bleed air from engines. Boeing recorded 1,006 Boeing B787 Dreamliner aircraft deliveries as of December 2021.
  • More electric architecture is being incorporated into new aircraft models. Commercial aircraft engine manufacturers are also incorporating a higher level of more electric architecture into their engines to accommodate future aircraft models. 
  • For instance, in December 2021, UK-based BAE Systems plc invested in its multi-million dollar facility investment to support Aircraft Electrification operations in Endicott, United States. The investment is expected to support the advanced manufacturing of subsystems for control and power conversion systems for aviation applications. Such developments are expected to drive the market's growth during the forecast period.
More Electric Aircraft Market: Boeing B787 Net Orders, Units, 2018-2023

North America to Dominate the Market During the Forecast Period

  • North America is a large market for more electric aircraft due to a high number of deliveries of aircraft incorporating more electric architecture to 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 more electric aircraft markets in the North American region. 
  • 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 a key advancement in more electric aircraft technology. It integrates self-contained electro-hydrostatic actuators (EHAs) to control the primary flight surfaces.
  • On the other hand, 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, as of September 2021, Delta Air Lines, the first North American airline to fly the A350 XWB, operated 17 Airbus A350-900s. Of the 25 A350-900s on order, 8 are yet to be delivered to the airline. Such demand for new models of more electric aircraft from the commercial and military segments is expected to drive the market in the North American region during the forecast period.
More Electric Aircraft Market - Growth Rate by Region (2023 - 2028)

More Electric Aircraft Industry Overview

The Boeing Company, Airbus SE, Lockheed Martin Corporation, Honeywell International Inc., and Safran SA are prominent players in the aerospace market. 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 are facing challenges in validating these systems and components.

Players are investing in infrastructure dedicated to developing more electric architecture systems to address this issue. For example, Collins Aerospace (Raytheon Technologies Corporation) is building a specialized lab, The Grid, which will be the industry's 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.

Ongoing developments in electric actuation systems are expected to bring additional opportunities for existing players to increase the percentage of electric architecture in their aircraft, thereby attracting further customers in the coming years. For instance, in July 2021, Pratt & Whitney Canada (P&WC) announced that the company is working with De Havilland Aircraft of Canada Limited (De Havilland Canada) to integrate hybrid-electric technology into a De Havilland Canada Dash 8-100 flight demonstrator. The flight demonstrator will include an advanced electric motor and controller from Collins Aerospace. The hybrid-electric propulsion technology and flight demonstrator program is part of a CAD 163M investment by the governments of Canada and Quebec.

Similarly, in April 2021, Airbus announced its plans to replace the mechanical rudder controls on A320 Neo-family aircraft with a full electric rudder system by early 2024. The modification will coincide with the entry into service of the long-range A321XLR developed with the ‘E-rudder’ architecture in mind.


More Electric Aircraft Market Leaders

  1. The Boeing Company

  2. Airbus SE

  3. Lockheed Martin Corporation

  4. Honeywell International Inc.

  5. Safran SA

*Disclaimer: Major Players sorted in no particular order

More Electric Aircraft Market Concentration

More Electric Aircraft Market News

  • January 2022 Wisk, a prominent Advanced Air Mobility (AAM) company and pioneer of the first all-electric, self-flying air taxi in the United States, successfully raised USD 450 million in funding from The Boeing Company. This significant investment is expected to boost Wisk's ongoing efforts to develop cutting-edge AAM technologies and revolutionize the transportation industry.
  • January 2022: The venture capital arm of Lockheed Martin Corporation made a substantial investment in Electra Inc., providing the electric short takeoff and landing (eSTOL) aircraft concept with a double injection of cash and credibility. This move is likely to accelerate Electra's development of its innovative eSTOL aircraft, which has the potential to revolutionize short-haul transportation and make significant strides toward achieving sustainable aviation.
  • June 2021: American Airlines invested USD 25 million in Vertical Aerospace Group, dedicated to developing a small, electric-powered aircraft capable of transporting people from city centers to airports by taking off and landing vertically, similar to helicopters. With plans to place orders worth USD 1 billion for small electric aircraft, Vertical Aerospace Group is poised to be a major player in aviation's future and could help reduce carbon emissions and air traffic congestion.

More Electric Aircraft Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

    3. 1.3 Currency Conversion Rates for USD



    1. 3.1 Market Size and Forecast, Global, 2018 - 2027

    2. 3.2 Market Share by Application, 2021

    3. 3.3 Market Share by Geography, 2021

    4. 3.4 Structure of the Market and Key Participants


    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

      2. 5.1.2 Military

      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. France

        2. United Kingdom

        3. 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 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 SA

      5. 6.2.5 Honeywell International Inc.

      6. 6.2.6 Raytheon Technologies 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


More Electric Aircraft Industry Segmentation

In more electric aircraft (MEA), electrical systems replace most pneumatic systems found on traditional commercial airplanes. In traditional 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 most airplane systems' power needs. 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. By geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. 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 will be provided in terms of value (USD billion).

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 Middle East and Africa

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More Electric Aircraft Market Research FAQs

The More Electric Aircraft Market is projected to register a CAGR of greater than 6% during the forecast period (2023-2028).

The Boeing Company, Airbus SE, Lockheed Martin Corporation, Honeywell International Inc. and Safran SA 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 (2023-2028).

In 2023, the North America accounts for the largest market share in the More Electric Aircraft Market.

More Electric Aircraft Industry Report

Statistics for the 2023 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 for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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