In 2021, the electric aircraft market size worldwide almost reached 50 million U.S. dollars, a twofold increase compared to the previous year. This market is expected to grow exponentially to reach approximately 6.6 billion U.S. dollars by 2026.

The More Electric Aircraft Market Report is Segmented by Application (Commercial Aviation, Military Aviation, and General Aviation) and Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The Report Offers Market Size and Forecasts for all the Above Segments in Value (USD).

The global more electric aircraft market size was valued at USD 2.45 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 7.8 Billion by 2033, exhibiting a CAGR of 13.7% from 2025-2033. North America currently dominates the market, holding a market share of over 33.5% in 2024. These growth drivers stem from increasing consciousness for sustainability by promoting ecofriendly aircraft, high pressure of strict environmental regulations from countries for an increased green aircraft option, and technology development or uptake in electrical aviation.

IMARC Group provides an analysis of the key trends in each segment of the global more electric aircraft market, along with forecast at the global, regional, and country levels from 2025-2033. The market has been categorized based on application, technology, and aircraft type.

The electric aircraft market size is projected to grow from USD 13.10 billion in 2024 to USD 79.06 billion by 2035, representing a CAGR of 17.75%, during the forecast period till 2035

According to Cognitive Market Research, the global Electric Aircraft market size will be USD 37200 million in 2024 and will expand at a compound annual growth rate (CAGR) of 19.8% from 2024 to 2031. Market Dynamics of Electric Aircraft Market

Key Drivers for Electric Aircraft Market

Growing need for cleaner and quieter aircraft-One of the main reasons the Electric Aircraft market is increasing demand for cleaner and quieter aviation solutions. Traditional aircraft significantly contribute to carbon emissions and noise pollution. Electric propulsion systems offer a sustainable alternative, reducing greenhouse gas emissions and operational noise levels. Technological advancements in battery efficiency and electric motors have made electric aircraft more viable, catering to environmental regulations and public demand for greener transportation. Major industry players and startups are investing heavily in electric aviation, spurred by the promise of reduced operating costs and enhanced urban air mobility.
The growing environmental concerns to drive the Electric Aircraft market's expansion in the years ahead.

Key Restraints for Electric Aircraft Market

Development of high energy density batteries poses a serious threat to the Electric Aircraft industry.
The market also faces significant difficulties related to technological drawbacks.

Introduction of the Electric Aircraft Market

The electric aircraft market is rapidly evolving, driven by advancements in battery technology, increasing environmental concerns, and stringent emissions regulations. This market encompasses a range of aircraft, including fixed-wing, rotorcraft, and uncrewed aerial vehicles (UAVs), designed to operate on electric power either solely or as hybrids. Key players in the industry are innovating to enhance aircraft efficiency, reduce operational costs, and minimize carbon footprints. Government incentives and rising investments in electric aviation infrastructure are further propelling market growth. As the industry progresses, it is poised to revolutionize air travel, offering sustainable alternatives to traditional fuel-based aircraft, thus addressing the urgent need for greener aviation solutions.

Electric Aircraft Market growth with a 17.6% CAGR, projected to achieve a market size of USD 53.56 Billion by 2032.

The electric aircraft market size reached US$ 9.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 41.0 Billion by 2032, exhibiting a growth rate (CAGR) of 16.5% during 2024-2032. The global market is primarily driven by growing focus on the reduction of carbon emission, growing environmental concerns, continual and technological advancements in battery technology, rising government incentives and support, and the increasing accessibility.

Explore the Electric Aircraft Global Market Report 2025 Market trends! Covers key players, growth rate 13.5% CAGR, market size $19.42 Billion, and forecasts to 2033. Get insights now!

More Electric Aircraft market is anticipated to grow at a CAGR of around 13% during 2020-25F.

Explore the More Electric Aircraft Global Market Report 2025 Market trends! Covers key players, growth rate 13.3% CAGR, market size $6.05 Billion, and forecasts to 2033. Get insights now!

Global commercial electric aircraft market estimated size and share is projected to exceed USD 1513.77 million by 2035, with a forecasted CAGR of 21.6% during the period.

The electric aircraft market is poised for significant growth, projected to reach a market size of $7.17 billion in 2025 and experiencing a Compound Annual Growth Rate (CAGR) of 14.76% from 2025 to 2033. This expansion is driven by several key factors. Firstly, increasing environmental concerns and stringent regulations regarding carbon emissions are pushing the aviation industry towards sustainable alternatives. Electric aircraft offer a cleaner solution, significantly reducing the carbon footprint compared to traditional fossil fuel-powered aircraft. Secondly, advancements in battery technology are leading to improved energy density and longer flight ranges, making electric aircraft more commercially viable. This technological progress, coupled with falling battery costs, is further accelerating market adoption. Finally, growing demand for short-haul and regional flights, particularly in urban air mobility (UAM) applications, is creating a lucrative market niche for electric aircraft. Companies like Airbus SE, Boeing, and several innovative startups are actively investing in research and development, leading to a diverse range of electric aircraft models, from small passenger aircraft to larger cargo planes. The market segmentation reveals a strong focus on hybrid and all-electric technologies. Hybrid-electric aircraft are currently more prevalent, offering a transitional path towards full electrification. However, all-electric aircraft are rapidly gaining traction, particularly in the UAM sector where shorter flight distances are feasible with current battery technology. Regional distribution demonstrates a strong presence in North America and Europe, fueled by early adoption and robust regulatory frameworks. Asia-Pacific is also expected to witness considerable growth due to rising demand for air travel and government initiatives promoting sustainable aviation. However, challenges remain, including the need for further battery technology improvements to extend flight range and payload capacity, as well as the development of supporting infrastructure, such as charging stations and maintenance facilities. Overcoming these hurdles will be crucial for realizing the full potential of the electric aircraft market in the coming years.

More Electric Aircraft Market size was valued at USD 4.58 Billion in 2024 and is projected to reach USD 11.17 Billion by 2031, growing at a CAGR of 11.78% during the forecasted period 2024 to 2031.

The more electric aircraft (MEA) market is driven by the aviation industry’s push towards reducing carbon emissions and improving fuel efficiency, necessitated by stringent environmental regulations and rising fuel costs. Advances in electrical systems and components, such as more efficient electric motors and power electronics, enable the replacement of traditional hydraulic and pneumatic systems with electric ones, leading to lighter, more efficient aircraft. Additionally, increasing investment in R&D and the growing adoption of electric propulsion technologies are accelerating the transition towards MEA. The demand for improved aircraft performance, reduced maintenance costs, and enhanced reliability further bolster the market, as airlines and aircraft manufacturers seek to optimize operational efficiency and sustainability.

According to Cognitive Market Research, the global More Electric Aircraft market size is USD 5.08 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 13.03% from 2024 to 2031. Market Dynamics of More Electric Aircraft Market Key Drivers for More Electric Aircraft Market Advancement in Electrical Systems - In MEA, reduce fuel consumption and emissions through the electrification of subsystems like propulsion, hydraulics, and environmental control systems, aligning with global aviation industry goals for sustainability and efficiency. Secondly, MEA enhances operational flexibility and reliability by replacing traditional mechanical and hydraulic systems with electric alternatives that are lighter, more efficient, and easier to maintain. Additionally, advancements in power electronics, energy storage, and electric propulsion technologies are accelerating MEA development, supported by regulatory pressures for reduced environmental impact and operational cost savings in commercial and military aviation sectors. Compliance with stricter environmental standards drives the adoption of electric aircraft technologies and is anticipated to drive the More Electric Aircraft market's expansion in the years ahead. Key Restraints for More Electric Aircraft Market Integration complexities hinder adoption and scalability in aviation sectors to the More Electric Aircraft industry growth. More electric aircraft face significant upfront investment challenges to data security and privacy impact market growth. Introduction of the More Electric Aircraft Market More electric aircraft is driven by the need for fuel efficiency and reduced emissions, pushing aircraft manufacturers to replace traditional hydraulic and pneumatic systems with electric alternatives, which are lighter and more energy-efficient. This shift aligns with global environmental regulations and industry goals for sustainability. Second, advancements in power electronics and battery technology enable the electrification of more aircraft systems, including flight controls, landing gear, and environmental control systems, enhancing reliability and reducing maintenance costs. Third, the demand for improved passenger comfort and safety features, facilitated by electric systems, drives adoption among airlines aiming to differentiate their offerings and enhance operational efficiency. These drivers collectively propel the MEA market forward, shaping the future of aviation towards greener and more efficient air travel.

North America is the biggest regional market for the electric aircraft propulsion system sector worldwide. The North-American market size was estimated to amount to approximately 6.3 billion U.S. dollars in 2025. During the same period, the global revenue of the electric aircraft propulsion system market is projected to reach more than 13.8 billion U.S. dollars.

The size and share of the market is categorized based on Type (Solar Electric Aircraft, Storage Cell Electric Aircraft, Fuel Cell Electric Aircraft) and Application (Personal Use, Commercial Use) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The Electric Aircraft Market encompasses a wide range of aircraft types, ranging from small, manned aircraft to large, unmanned cargo carriers. These aircraft are designed for a variety of applications, including commercial passenger transport, air taxis, military operations, and surveillance. Recent developments include: In January 2022, Wisk, a prominent Advanced Air Mobility (AAM) startup and the creator of the United States' first all-electric, self-flying air taxi, has received USD 450 million in funding from The Boeing Company., In January 2022, Lockheed Martin Corporation's venture capital arm invested in Electra Inc., giving the company's electric short takeoff and landing (eSTOL) aircraft concept a cash and credibility boost. The sum was not disclosed., In June 2021, American Airlines invested USD 25 million in Vertical Aerospace Group, which is developing a small, electric-powered aircraft capable of transporting passengers from city centers to airports by taking off and landing vertically, similar to helicopters. . Key drivers for this market are: Environmental concerns and the need for sustainable aviation. Government incentives and initiatives.. Potential restraints include: High cost of electric aircraft compared to conventional aircraft. Limited range and capacity of electric aircraft.. Notable trends are: Integration of artificial intelligence and autonomous systems. Development of hybrid-electric aircraft..

The size of the More Electric Aircraft Market was valued at USD XX Million in 2024 and is projected to reach USD XXX Million by 2033, with an expected CAGR of 2.15% during the forecast period. The More Electric Aircraft (MEA) market is witnessing strong growth due to the aviation sector's need for greater efficiency, lower emissions, and better operational performance. MEA substitutes conventional hydraulic and pneumatic systems with electrical systems, resulting in lighter aircraft, less fuel consumption, and easier maintenance. This trend is driven by advances in electric power generation, distribution, and control technology, such as high-power batteries, electric motors, and power electronics. The market covers a range of segments, from narrow-body airliners and regional jets to urban air mobility (UAM) aircraft and unmanned aerial vehicles (UAVs). Rising investments in research and development, combined with increasing environmental issues and strict emission regulations, are driving the use of MEA technologies. Challenges persist, like maintaining the integrity and safety of electrical systems, dealing with thermal loads, and creating durable electrical architectures. But the long-term advantages of MEA, such as lower operating costs, greater fuel efficiency, and less environmental footprint, are propelling its further expansion and defining the future of aviation.

Global Electric Aircraft Market size was valued at USD 7345.58 million in 2021 and is poised to grow from USD 8800 million in 2022 to USD 37336.83 million by 2030, growing at a CAGR of 19.8%

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