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September 2025
The aircraft electrification market is forecast to grow from USD 11.04 billion in 2025 to USD 34.70 billion by 2034, driven by a CAGR of 14.94% from 2025 to 2034. The growing emphasis of airline companies on deploying electric aircrafts for passenger transportation coupled with technological advancements in the aircraft manufacturing sector is playing a vital role in shaping the industrial landscape.
Additionally, rapid investment by government for developing the aviation sector along with rising demand for eco-friendly and sustainable aviation solutions has boosted the market expansion. The research and development activities related to manufacturing of high-quality aircraft batteries is expected to create ample growth opportunities for the market players in the future.
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The aircraft electrification market is a prominent sector of the aerospace industry. This industry deals in manufacturing and distribution of electric components for the aircrafts. There are several components developed in this sector comprising of batteries, fuel cells, solar cells, electric actuators, electric pumps, generators, motors, power electronics, distribution devices and some others. It finds application in various sectors including power generation, power distribution, power conversion, energy storage and some others. This market is expected to rise significantly with the growth of the airlines sector across the world.
The major trends in this market consists of partnerships, joint ventures and business expansion.
The motors segment held the highest share of the market. The growing use of brushless permanent magnet motors in electric aircrafts for propulsion has boosted the market growth. Additionally, the rising application of hybrid electric smart motors in commuter aircraft is playing a vital role in shaping the industrial landscape. Moreover, rapid investment by market players for developing high-quality motors for electric planes is expected to drive the growth of the aircraft electrification market.
The batteries segment is expected to expand with a considerable CAGR during the forecast period. The rising use of li-ion batteries in electric aircrafts for providing superior flying range has boosted the market expansion. Additionally, the research and development activities related to ultra-fast charging lithium-sulfur (Li-S) battery for electric planes has played a crucial role in shaping the industry in a positive direction. Moreover, collaborations among battery manufacturers and aircraft brands to manufacture high-density condensed batteries is expected to propel the growth of the aircraft electrification market.
The hybrid electric segment led the market. The growing emphasis of aircraft manufacturers on developing solar-powered planes to reduce dependency on traditional fuel has boosted the market expansion. Additionally, rapid investment by electric plane companies on advancing research associated with fuel cell powered aircrafts is playing a vital role in shaping the industrial landscape. Moreover, the rising interest of airline companies on deploying hybrid planes in their fleets for gaining maximum profits is expected to drive the growth of the aircraft electrification market.
The fully electric segment is expected to grow with a considerable CAGR during the forecast period. The rising investment by defense organizations to deploy unmanned electric aircrafts in warfare zones to gather information about enemies has boosted the market expansion. Also, rising focus of aircraft startups on developing high-quality electric planes for commercial purposes and passenger transportation is contributing to the industry in a positive way. Moreover, partnerships among aircraft companies and battery manufacturers to develop high-quality batteries for the aviation sector is expected to foster the growth of the aircraft electrification market.
North America dominated the aircraft electrification market. The increasing demand for electric aircrafts in several countries such as the U.S. and Canada has boosted the market expansion. Additionally, numerous government initiatives aimed at electrification of the aviation sector coupled with rapid investment by airline companies for deploying electric aircrafts is playing a vital role in shaping the industrial landscape. Moreover, the presence of several market players such as Honeywell International Inc, Astronics Corporation, General Electric and some others is expected to propel the growth of the aircraft electrification market in this region.
Europe is expected to grow with a significant CAGR during the forecast period. The growing use of hybrid aircraft for business purposes in several nations such as Germany, France, UK, Netherlands and some others has boosted the market expansion. Additionally, numerous government regulations aimed at lowering CO2 emission coupled with rise in number of aerospace startups is contributing to the industry in a positive manner. Moreover, the presence of various market players such as Safran, RTX, Thales Group, BAE Systems and some others is expected to foster the growth of the aircraft electrification market in this region.
The aircraft electrification market is a rapidly developing industry with the presence of several dominating players. Some of the prominent companies in this industry consists of Crane Aerospace & Electronics, EaglePicher Technologies LLC, EnerSys, AMETEK, Inc., Astronics Corporation, BAE Systems, General Electric, Honeywell International Inc., Lee Air, Inc., magniX, Meggitt PLC, PBS Aerospace, Radiant Power Corporation, Raytheon Technologies, Safran, Thales Group and some others. These companies are constantly engaged in developing different types of components for electric aircrafts and adopting numerous strategies such as business expansions, launches, partnerships, joint ventures, acquisitions, collaborations and some others to maintain their dominance in this industry.
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