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#More Electric Aircraft Market Size And Revenue Forecast Through 2030
The more electric aircraft market size has seen rapid growth in recent years. It is projected to expand from $3.65 billion in 2025 to $4.13 billion in 2026, at a compound annual growth rate (CAGR) of 13.3%. Historically, this growth can be attributed to an increasing shift towards replacing hydraulic and pneumatic systems with electric alternatives, rising demand for fuel-efficient aircraft architectures, the early development of electric propulsion components for unmanned and experimental aircraft, an increase in aviation research initiatives focused on reducing operational emissions, and the adoption of electric power systems in demonstrator and prototype aircraft programs.
The more electric aircraft market size is anticipated to undergo rapid expansion in the upcoming years, with its value set to reach $6.54 billion in 2030, demonstrating a compound annual growth rate (CAGR) of 12.2%. This growth throughout the forecast period can be attributed to increased investment in hybrid-electric and fully electric propulsion technologies, a rising requirement for lightweight and high-efficiency electrical systems in next-generation aircraft, the enlargement of unmanned and urban air mobility platforms necessitating advanced electric architectures, the development of high-density energy storage solutions enabling broader integration of electric systems, and heightened regulatory emphasis on sustainable aviation driving the adoption of more electric aircraft designs. Significant trends during this period include the increasing uptake of eVTOL and electric regional aircraft, the growing integration of hybrid electric propulsion systems, the expansion of energy storage and power conversion technologies, the development of advanced power distribution and generation systems, and a focus on sustainable and low-emission aircraft design.
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More Electric Aircraft Market Growth Factors Supporting Long-Term Expansion
The expected increase in air passenger traffic is set to boost the expansion of the electric aircraft market. Air passenger traffic refers to the quantity of individuals aboard an aircraft. Advanced electric aircraft are utilized to transport commercial and business passengers, featuring sophisticated attributes such as computer-controlled, electrically driven propellers. For instance, data from the International Air Transport Association (IATA), a Canada-based organization representing the world’s airlines, indicates that overall air traveler numbers are predicted to reach 4.0 billion in 2024, exceeding pre-COVID-19 levels by 103%. Thus, the growth in air passenger traffic is a primary catalyst for the development of the electric aircraft market.
More Electric Aircraft Market Segment Performance And Strategic Opportunities
The more electric aircraft market covered in this report is segmented –
1) By Type: Fixed Wing, Rotary Wing, Hybrid Wing
2) By Aircraft System: Propulsion System, Airframe System
3) By Application: Power Generation, Power Distribution, Power Conversion, Energy Storage
4) By End User: Civil, Military
Subsegments:
1) By Fixed Wing: Electric Conventional Aircraft, Electric Vertical Takeoff And Landing (eVTOL), Electric Regional Aircraft
2) By Rotary Wing: Electric Helicopters, Electric Multicopters
3) By Hybrid Wing: Hybrid Electric Conventional Aircraft, Hybrid Electric VTOL
More Electric Aircraft Market Strategic Trends: What Is Defining The Next Phase Of Growth?
Leading industry participants are focusing their endeavors on developing cutting-edge technologies, particularly high-performance silicon carbide inverters designed for more electric aircraft. These inverters are power electronic components engineered to efficiently transform and regulate electrical energy, facilitating lightweight, dependable, and highly efficient functioning within such aircraft. For example, in April 2024, ZeroAvia, an Aerospace company based in the US, introduced a range of electric and hydrogen aviation components, consistent with its manufacturing strategy. This undertaking seeks to leverage the multi-billion-dollar market for its hydrogen-electric powertrains. The company is currently working on certifying the ZA600 engine for aircraft accommodating up to 20 seats and progressing the ZA2000 engine for planes with up to 90 seats. ZeroAvia identified prospects in sophisticated electric motors, high-performance silicon carbide inverters, adaptable LT-PEM fuel cells, HT-PEM fuel cell stacks, and a specialized aviation fuel cell compressor, all specifically designed to adhere to aerospace benchmarks, boost performance, and decrease aviation’s environmental footprint.
More Electric Aircraft Market Competitive Analysis Of Major Industry Participants
Major companies operating in the more electric aircraft market are AMETEK Inc., BAE Systems PLC, Bombardier Inc., Elbit Systems Ltd., GE Aviation, Honeywell International Inc., Raytheon Technologies Corporation, Rolls-Royce Holdings PLC, Safran Group, Thales Group, Boeing, Airbus S.A.S, Lockheed Martin, Parker-Hannifin Corp., Eaton, Ampaire, Bye Aerospace, Dixion Motors Inc., Dufour Aerospace, Electric Aircraft Corporation, Embraer SA, Eviation Alice, Faradair, Joby Aviation, Longanair Ltd., Magnix, Pipistrel USA, Siemens, Wright Electric, Zunum Aero, AeroTEC
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#More Electric Aircraft Market Largest Region: Which Geography Holds The Highest Market Share?
Europe was the largest region in the more electric aircraft market in 2025. The regions covered in the more electric aircraft market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.