More electric aircraft (MEA) is a concept that involves the use of electric power (as opposed to pneumatic and hydraulic sources of power) for all non-propulsive systems in an aircraft. The use of electric power helps reduces the overall weight, fuel consumption, and greenhouse emissions of an aircraft. Electrical systems also help cut down the assembly and maintenance costs of aircraft and facilitate faster manufacturing. By application, the MEA market is segmented into power generation, power distribution, power conversion, and energy storage. The More Electric Aircraft Market is estimated to be USD 1.5 billion in 2020 and is projected to reach USD 3.3 billion by 2025, at a CAGR of 17.4% during the forecast period. Recent technological advancements in the field of power electronics, fault-tolerant architecture, electro-hydrostatic actuators, flight control systems, high-density electric motors, and power generation and conversion systems have fuelled the adoption of MEA. Advancements in high-density battery solutions and the need for the optimization of aircraft performance are other factors fuelling the growth of the market.

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Based on aircraft system, the airframe system segment is estimated to dominate the more electric aircraft market in 2020. Airframe systems include environmental control system, accessory drive system, landing gear system, power management system, cabin interior system, and flight control system. Increasing modification in the airframe systems is expected to fuel the growth for more electric aircraft.

Based on the application, the market has been segmented into power generation, power distribution, power conversion and energy storage. The growth of the more electric aircraft market across the globe can be attributed to the increased focus on reducing operational costs, emissions, and aircraft noise.

Based on the aircraft type, the market has been segmented into fixed wing and rotary wing. The fixed wing segment accounts for the largest market size during the forecast period. Growth in the Asia-Pacific fixed wing market is primarily driven by increase in international as well as domestic passenger movement which lead to raise the demand for fuel efficient aircraft. Enhancement in aircraft performance by providing efficient electrical components is a significant factor contributing to the growth of the market.

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