More Electric Aircraft (MEA) Global Market Takes Off To Glory By 2021 At ~ 4% Of CAGR

Posted October 23, 2020 by nita01

surpassing its previous growth records in terms of value with a striking CAGR of around 4% during the anticipated period (2016 – 2021).
More Electric Aircraft (MEA) Global Market – Overview
Higher energy consumption, NOX emission and noise & Air pollution is taking its toll on quality of life. These critical matters need to be addressed due to such threats and even survivability of our future generations. Recently, significant efforts have been made to address these environmental and resource conservation issues.
The nature of the More Electric Aircraft (MEA) approach has made itself an integral part of the solution to accomplish the objectives listed above. There are two energy sources on conventional aircraft. The primary source that is engines on the aircraft and the secondary sources that are electric, pneumatic, and hydraulic systems powered by the primary source. In the last fifteen years, tremendous progress has been made in MEA, with the most outstanding being the ones on Boeing 787, Airbus 380, and Lockheed F35. These efforts have been mainly focused in the area of the secondary energy sources, i.e. replacing the pneumatic or hydraulic system with an electric on. Traditionally, the pneumatic system is utilized to power the environmental control system (ECS) and the anti/de-icing system, and the hydraulic system is used for flight control actuation, utility actuation, landing gear, etc. Recent research and development indicate that MEA will develop significantly further and progress into innovating the primary energy source.
The use of electrical system has reduced the overall cost, thus result in improved operation. This also helps to control emission. The challenges associated with the market are the issues with electrical power system, issues in electrical generator associated with civilian and commercial usage of more electric aircraft. According to a recent study report published by the Market Research Future, Globally, the market for More Electric Aircraft has increased its market growth in recent years and is expected to grow at a rapid pace during the forecast period. The global market of MEA is forecasted to witness a thriving growth by 2021, surpassing its previous growth records in terms of value with a striking CAGR of around 4% during the anticipated period (2016 – 2021).
Shift to usage of fuel cells is one of the major market trends in the global more electric aircraft market. Factors such as rise in the number of aircraft deliveries, reduction in operating and maintenance cost, and need for fuel-efficient aircraft with less carbon emission, among others are evaluated as major market growth propelling factors. Additionally, factors such as decrease in airport noise, and the need for optimized aircraft performance have fueled the market growth of MEA. On the other hand, high amount of investment and lengthy clearance process for upgradation of components pose as some of the major restraints for the more electric aircraft market.
More Electric Aircraft Global Market – Key Players
The leading market players in the global more electric aircraft market primarily include Airbus, Honeywell International, Raytheon, Safran, The Boeing Company, United Technologies Corporation, Thales Group, Zodiac Aerospace SA, Bombardier, and TTTech Computertechnik.
More Electric Aircraft Global Market – Segmentation
The Global MEA Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Application : Comprises Commercial, Military and UAV.
Segmentation By Platform : Comprises Commercial Aircraft, UAV and Military Aircraft.
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
In 2015, commercial application has 70% of the market share and will dominate the market in forecast period, followed by military and UAV platform.
More Electric Aircraft Global Market – Synopsis
Driven by the demand to optimize aircraft performance, decrease operating and maintenance costs, increase dispatch reliability, and reduce gas emissions - have underscored the aircraft industry's renewed push toward the concept of more electric aircraft (MEA), and ultimately an all electric aircraft. Specifically, the MEA concept provides for the utilization of electric power for all non-propulsive systems. Traditionally these non-propulsive systems are driven by a combination of different secondary power sources such as hydraulic, pneumatic, mechanical and electrical. Recent technological advances in the field of power electronics, fault-tolerant architecture, electro-hydrostatic actuators, flight control systems, high density electric motors, power generation and conversion systems have ushered the era of the MEA. This trend is accelerating, as aircraft OEMs collaborate with their suppliers to design new systems and implement new electrical-intensive architectures. Adoption of the MEA concept is seen as critical enabler for the aircraft industry to unlock significant improvements in terms of aircraft weight, fuel consumption, total life cycle costs, maintainability and aircraft reliability.
MEA Global Market – Regional and Country Analysis
In 2015, the market was led by Americas with a share of around 35%, followed by EMEA and APAC with a considerable CAGR.
The Americas is leading the global more electric aircraft market; however the demand has increased from emerging nations such as EMEA and Asia Pacific in relation to growing demand for more electric aircraft in civil as well as military aircraft. As per the MRFR analysis, the Americas More Electric Aircraft market is poised to reach to astronomical amounts of multi Billion in 2021, to grow at a substantial CAGR during the forecasted period. EMEA and Asia Pacific will grow at a considerable CAGR during the forecasted period.
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Last Updated October 23, 2020