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More Electric Aircraft Market Size And Revenue Outlook Through 2030
The more electric aircraft market size has observed rapid growth in recent years. It is projected to expand from $3.65 billion in 2025 to $4.13 billion in 2026, achieving a compound annual growth rate (CAGR) of 13.3%. The market’s historical growth can be attributed to factors such as an increasing shift towards replacing hydraulic and pneumatic systems with electric alternatives, a 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 is expected to experience substantial growth over the next few years. Its value is predicted to reach $6.54 billion in 2030, growing at a compound annual growth rate (CAGR) of 12.2%. This projected increase can be attributed to heightened investment in hybrid-electric and fully electric propulsion technologies, a rising demand for lightweight and highly efficient electrical systems in future aircraft, the expansion of unmanned and urban air mobility platforms requiring advanced electric architectures, the development of high-density energy storage solutions enabling broader adoption of electric systems, and an increasing regulatory emphasis on sustainable aviation driving the adoption of more electric aircraft designs. Prominent trends for this period include the increasing adoption of eVTOL and electric regional aircraft, growing integration of hybrid electric propulsion systems, 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 Demand Drivers: What’s Powering Industry Growth?
The future expansion of the electric aircraft market is anticipated to be fueled by an increase in air passenger traffic. Air passenger traffic is defined as the total number of individuals traveling by aircraft. Advanced electric aircraft, featuring innovations like computer-controlled, electrically driven propellers, are employed for transporting commercial and business travelers. For example, the International Air Transport Association (IATA), a Canada-based trade association representing global airlines, projects that the total number of air travelers will hit 4.0 billion in 2024, surpassing pre-COVID-19 volumes by 103%. Consequently, this upward trend in air passenger traffic is a significant factor in the expansion of the electric aircraft market.
More Electric Aircraft Market Segment Landscape: Which Areas Lead Development?
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 Innovation Trends: What Developments Are Reshaping The Industry?
Leading market participants are concentrating their efforts on creating innovative technologies, such as high-performance silicon carbide inverters for more electric aircraft. These inverters are power electronic devices that efficiently convert and control electrical energy, enabling lightweight, reliable, and high-efficiency operation in more electric aircraft. For instance, in April 2024, ZeroAvia, a US-based Aerospace company, launched an offering of electric and hydrogen aviation components, aligning with its manufacturing plans. This initiative aims to capitalize on the multi-billion-dollar market for its hydrogen-electric powertrains. The company is in the process of certifying the ZA600 engine for up to 20-seat aircraft and advancing the ZA2000 engine for up to 90-seat aircraft. ZeroAvia identified opportunities 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 engineered to meet aerospace standards, enhance performance, and reduce environmental impact in aviation.
More Electric Aircraft Market Industry Leaders And Competitive Landscape
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 Distribution: Which Areas Power Market Growth?
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.
