More Electric Aircraft Market Share

Statistics for the 2023 & 2024 More Electric Aircraft market share, created by Mordor Intelligence™ Industry Reports. More Electric Aircraft share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

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Market Share of More Electric Aircraft Industry

The more electric aircraft market is semi-consolidated due to a few global players holding significant shares in the market. Some key players in the market are RTX Corporation, General Electric Company, Safran, Honeywell International Inc., and Eaton Corporation PLC. Major players are currently focused on developing advanced electric architecture platforms to keep up with the increasing demand for more electric components. However, due to the complexity of aerospace testing, players need help validating these systems and components.

Players are investing in infrastructure to develop more electric architecture systems to address this issue. For example, Collins Aerospace (RTX Corporation) is building a specialized lab, The Grid, which will be the most advanced electric power systems laboratory. The lab will enable the design and evaluation of systems like high-power generators for the next generation of more electric aircraft, including commercial, military, business aviation, UAV, and urban air mobility platforms. Similarly, in April 2021, Airbus announced its plans to replace the mechanical rudder controls on A320 Neo-family aircraft with an entire electric rudder system, expected to be completed by early 2024. Such developments from OEMs will drive market growth in the coming years.

More Electric Aircraft Market Leaders

  1. Honeywell International Inc.

  2. RTX Corporation

  3. Safran

  4. General Electric Company

  5. Eaton Corporation plc

*Disclaimer: Major Players sorted in no particular order

More Electric Aircraft Market Concentration

More Electric Aircraft Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)