The global more electric aircraft market was valued at USD 3.99 billion in 2022 and is projected to increase from USD 4.53 billion in 2023 to USD 8.49 billion by 2030, reflecting a compound annual growth rate (CAGR) of 11.37% over the forecast period. In 2022, North America led the market, holding a 33.08% share.

The more electric aircraft use electrical power to control non-engine systems on aircraft. The use of electrical systems for applications, including surface control, braking, and other propulsion operations, contributed to the improvements in aircraft performance. The increasing adoption of hover systems and technological advancements in aircraft power generation and conversion systems propel market growth.

Fortune Business Insights™ mentioned this in a report titled, “More Electric Aircraft Market, 2023-2030.”

Browse In-depth Summary of This Research Insight:

https://www.fortunebusinessinsights.com/infographics/more-electric-aircraft-market-105553

List of Key Players Present in the More Electric Aircraft Market:

• Thales Group (France)
• BAE Systems PLC (U.K.)
• Bombardier Inc.(Canada)
• Elbit Systems Ltd. (Israel)
• GE Aviation (U.S.)
• Safran S.A. (France)
• Lockheed Martin Corporation (U.S.)
• Airbus (Netherlands)
• The Boeing Company (U.S.)
• AMETEK, Inc. (U.S.)
• Honeywell International Inc. (U.S.)
• Raytheon Technologies Corporation (U.S.)