More Electric Aircraft (MEA) Market Worth $22548.59 Million by 2020
DALLAS, September 29, 2014 /PRNewswire/ --
The report offers an in-depth analysis of the "More Electric Aircraft Market by Technology (Power Electronics, Thermal Management, Safety Systems and Advanced Materials), Platform (Commercial, Military and UAV) & by Geography (North America, Europe, APAC, Middle East, Latin America and Africa) - Forecasts & Analysis to 2014-2020", the MEA equipment market is projected to reach $22548.59 Million by 2020, growing at a high CAGR of 4.62% from 2014-2020. In current scenario, despite uncertain economic conditions, commercial aviation is experiencing continuous growth in aircraft movements as well as passenger traffic.
Browse 73 Market Data Tables with 51 Figures spread through 180Pages and in-depth TOC on "More Electric Aircraft Market"
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The growth in the MEA market has been propelled by the use of autonomous systems in the market. The need for optimized aircraft performance, decrease in operational and maintenance cost, reducing gas emissions and airport noise, and the tremendous increase in aircraft deliveries have been growth factors for the MEA market. The restraints identified in the market include macro-economic shocks and regulatory issues. The challenges faced by this market include thermal management in electrical systems, reliability of electrical systems in harsh environment, and the optimization of the mass of electrical systems.
Among the three technology types including power electronics, thermal management system, and advanced materials & safety system; the power electronics market is expected to account for the highest market share during the forecast period.
The More Electric Aircraft Market has been segmented into four categories including technology, platforms, geography and country. This report divides the overall market into geographical segments including North America, Europe, Asia-Pacific (APAC), the Middle East, Latin America, and Africa. North America currently accounts for the highest market share as compared to other regions. Given the forecast period, the APAC region is expected to grow at a higher CAGR and is expected to account for the highest market share by 2020.
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The leading companies in the more electric aircraft market covered in the report include Safran S.A (France), Boeing (U.S.), Airbus (France ), Honeywell International Inc(U.S.), and Raytheon (U.S.).
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