Overview

The electric aircraft market is projected to grow rapidly at a CAGR of 15.40% and projected to touch USD 40.3 billion throughout the forecast period 2023-2030. The increase in global air traffic as well as growing demand for new advanced aircraft are the key driving factors for the global electric aircraft market and are estimated to boost the growth. Analysts studying the electric aircraft market have also shared growth projections in the electric aircraft market research report and have suggested electric aircraft market-based companies to develop growth strategies. The growing need for power and lack of efficiency due to technical limitations of existing systems are the challenges that companies across the electric aircraft market could face. The details covered in the electric aircraft market report cover all the aspects of the industry.

Market Segmentation

The global electric aircraft market has been segmented based on applications and platform. On the basis of applications, the market for electric aircraft is segmented based on commercial and military. Additionally, the market on the basis of platform, is segmented into rotary wing aircraft and UAV and fixed wing aircraft.

Factors like technological advancements as well as high-performing aircrafts propel the electric aircraft market growth. The electric aircraft market performance has also been studied. The electric aircraft market report provides analysis of past and current trends. In addition to this, the electric aircraft market report offers detailed analysis of applications and platform segments. The market segmental analysis provided in the electric aircraft market research report offers crucial details about the electric aircraft market based on the data and forecasts till 2030.

Regional Overview

The electric aircraft market report covers companies functional in the electric aircraft market spread across regional markets of North America, Europe, Asia-Pacific (APAC), and the rest of the world. The regional analysis of the electric aircraft market can be found in the market research report. The North American electric aircraft market has several key electric aircraft market players functioning in the United States, Canada, and Mexico. Europe has companies in the electric aircraft market across Germany, France, Spain, Italy, and the United Kingdom. The electric aircraft market of the Middle East, Africa, and other regions has also been studied by analysts. A detailed analysis of the electric aircraft market across India, China, and Japan in the Asia-Pacific region is also available for further study.

Competitive Landscape

The electric aircraft market is corroborated by development of advanced electric engines. The population growth as well as increasing demand of electric aircraft market based solutions also accelerate the market growth. However, the electric aircraft market can be affected due to inefficient thermal management systems as well as environmental risks leading to strict regulations. The electric aircraft market research report covers all such factors assisting companies in the electric aircraft market to improve their plans and portfolio. The electric aircraft market research report also provides company profiles of major businesses. The electric aircraft market report highlights crucial details about organizations operating across North America, Europe, Asia-Pacific (APAC), and the rest of the world regional markets. The details available in the electric aircraft market report cover company strategies, revenue, company size, and mergers and acquisitions in the electric aircraft market. New entrants as well as established organizations can use the data from the electric aircraft market report to further plan their strategies.

Industry News

The local aviation company MagniX has reported on Tuesday that the company is consolidating its operations at a new plant in Everett, designing electric motors to substitute gas turbine engines on shuttle airplanes transporting up to 40 travelers. MagniX has relocated its entire staff, currently around 50 employees, to the new location on Seaway Boulevard, just north of Boeing's Everett jet production facility, previously based in Redmond, with technology facilities there and in Australia.

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