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More Electric Aircraft Market Size Outlook: A $6.54 Billion Market By 2030, Growing At 12.2% Annually
The more electric aircraft market has experienced significant expansion recently. It is projected to expand from $3.65 billion in 2025 to $4.13 billion in 2026, demonstrating a compound annual growth rate (CAGR) of 13.3%. This historical growth is linked to several factors, including a growing trend to substitute hydraulic and pneumatic systems with electric ones, a heightened need for aircraft designs that conserve fuel, the initial creation of electric propulsion parts for uncrewed and experimental planes, an increase in aviation research aimed at lowering operational emissions, and the incorporation of electric power systems into aircraft demonstrators and prototypes.
The more electric aircraft market size is projected to experience substantial expansion in the coming years. It will grow to $6.54 billion in 2030 at a compound annual growth rate (CAGR) of 12.2%. This growth during the forecast period is primarily attributed to rising investments in hybrid-electric and fully electric propulsion technologies, the increasing demand for lightweight and high-efficiency electrical systems in next-generation aircraft, the expansion of unmanned and urban air mobility platforms that require advanced electric architectures, the development of high-density energy storage solutions enabling wider adoption of electric systems, and a growing regulatory emphasis on sustainable aviation driving the uptake of more electric aircraft designs. Major trends anticipated during this period include the increasing adoption 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 strong focus on sustainable and low-emission aircraft design.
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Key Demand Driver Expected To Lift More Electric Aircraft Market Revenue
The increasing volume of air passenger traffic is projected to stimulate the expansion of the electric aircraft market in the foreseeable future. Air passenger traffic denotes the total count of individuals aboard an aircraft. Modern electric aircraft, equipped with sophisticated attributes such as computer-controlled, electrically driven propellers, are utilized for carrying commercial and business passengers. For instance, data from the International Air Transport Association (IATA), a Canada-based global airline trade association, indicates that the aggregate number of air travelers will reach 4.0 billion in 2024, surpassing pre-COVID-19 levels by 103%. Therefore, the surge in air passenger traffic is a primary catalyst for the growth of the electric aircraft market.
Exploring The More Electric Aircraft Market Through Its Key Segments
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
New Trends Redefining Competition In The More Electric Aircraft Market
Leading market participants are focusing on developing advanced technologies, including high-performance silicon carbide inverters designed for more electric aircraft. These inverters are power electronics devices that effectively convert and manage electrical energy, facilitating lightweight, dependable, and highly efficient operation in such aircraft. As an example, in April 2024, ZeroAvia, a US-based Aerospace firm, introduced a range of electric and hydrogen aviation components, consistent with its manufacturing strategies. This venture seeks to leverage the multi-billion-dollar market potential for its hydrogen-electric powertrains. ZeroAvia is currently certifying its ZA600 engine for aircraft accommodating up to 20 passengers and progressing the development of its ZA2000 engine for aircraft with capacities of up to 90 seats. The company pinpointed prospects in advanced electric motors, high-performance silicon carbide inverters, customizable LT-PEM fuel cells, HT-PEM fuel cell stacks, and a specialized aviation fuel cell compressor, all specifically engineered to meet aerospace standards, improve performance, and decrease aviation’s environmental footprint.
More Electric Aircraft Market Competition: Key Players And 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 Regional Overview: Largest Market And Global Coverage
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.
