Electric Aircraft Market Growth Steady at 4.17% to 2023
PUNE, India, April 10, 2018 /PRNewswire/ --
ReportsnReports.com adds the electric aircraft market is projected to grow from an estimated USD 99.3 million in 2018 to USD 121.8 million by 2023, at a CAGR of 4.17% from 2018 to 2023. Lower cost of ownership of electric aircraft and advantages of electric aircraft over traditional aircraft are key factors driving the growth of the electric aircraft market.
Browse 66 Market Data Tables and 30 Figures spread through 111 Pages and in-depth TOC on "Electric Aircraft Market by Aircraft Type (Ultralight Aircraft, Light Jet), Component (Battery, Electric Motor), Technology (Hybrid and All Electric), Range (Less than 500 Km and More than 500 Km), and Region - Global Forecast to 2023" http://www.reportsnreports.com/reports/1439319-electric-aircraft-market-by-aircraft-type-ultralight-aircraft-light-jet-component-battery-electric-motor-technology-hybrid-and-all-electric-range-less-than-500-km-and-more-than-500-km-and-region-glob-st-to-2023.html .
Key players profiled in this report on the electric aircraft market are Zunum Aero (US), Yuneec International (China), PC Aero (Germany), Pipistrel (Italy), Eviation Aircraft (Israel) Lilium (Germany), Schempp-Hirth(Germany), Volta-Volaré (US), Bye Aerospace (US) and Electric Aircraft Corporation(US).Some of the innovators of different types of electric aircraftare DeLorean Aerospace (US), Joby Aviation(US), Siemens(Germany), and Evektor (Czech Republic).
The electric aircraft market has been segmented into ultralight aircraft and light jet. The ultralight aircraft segment is expected to lead the electric aircraft market in 2018. The ownership of ultralight aircraft is cost-effective due to the simplistic design and construction of these aircraft. With the increase in fuel prices, the demand for ultralight aircraft is expected to increase for training purposes.
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Products offered by various companies operating in the electric aircraft market are listed in the report. The recent developments section of the report provides information on the strategies adopted by various companies between November 2011 and October 2018 to strengthen their positions in the electric aircraft market.
Significant investment incurred in development of different types of electric aircraft is a major factor restraining growth of electric aircraft market across globe. Significant investments are required at different stages of value chain of electric aircraft industry (especially in R&D, manufacturing, system integration, & assembly stages).
Europe region is estimated to account for the largest share of the electric aircraft market in 2018.This region is highly fragmented with a large number of electric aircraft manufacturers, namely, PC Aero (Germany), Pipistrel (Italy), Lilium (Germany), Alisport SRL (Italy), and Schempp-Hirth (Germany). The aircraft and its component industry in Europe is aiming to use new advanced materials, such as gamma-titanium aluminides and single crystals, with improved mechanical properties, these advanced engines help aircraft reduce its fuel consumption, carbon emissions, and noise pollution.
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Major factor restraining growth of tension control market is the high initial cost required to set up and install tension control equipment, particularly automated tension control in the paper processing and flexible printing & packaging industries. The restraining factor is particularly prevalent in the Asia Pacific region, where small-scale packaging industry has a considerable share.
The breakup of the profiles of the primary participants in this report on the electric aircraft market has been given below:
- By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
- By Designation: C Level - 35%, Director Level - 25%, and Others - 40%
- By Region: North America - 30%, Europe - 20%, Asia Pacific - 30%, Middle East- 10% and RoW - 10%
Another research titled the global connected aircraft market is projected to grow from USD 3.29 billion in 2017 to USD7.16 billion by 2022, at a CAGR of 16.83% during the forecast period. This growth can be attributed to factors, such as increasing need for operational efficiency, rising aircraft deliveries, and growing need to upgrade existing connectivity systems. Major aircraft manufacturers and airlines, such as Boeing (US), Lockheed Martin (US), Bombardier (Canada), Bell Helicopter (US), Sikorsky Aircraft (US),American Airlines (US) and United Airlines (US) are based in this region, and thus generate growth opportunity for the connected aircraft market. Direct Purchase at http://www.reportsnreports.com/purchase.aspx?name=1390556 .
Explore more reports on Automotive Domain at http://www.reportsnreports.com/market-research/automotive/ .
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