More Electric Aircraft Market Report 2026

The more electric aircraft market size has grown rapidly in recent years. It will grow from $3.65 billion in 2025 to $4.13 billion in 2026 at a compound annual growth rate (CAGR) of 13.3%. The growth in the historic period can be attributed to increasing shift toward replacing hydraulic and pneumatic systems with electric alternatives, rising demand for fuel-efficient aircraft architectures, early development of electric propulsion components for unmanned and experimental aircraft, growth in aviation research initiatives focused on reducing operational emissions, adoption of electric power systems in demonstrator and prototype aircraft programs.

The more electric aircraft market size is expected to see rapid growth in the next few years. It will grow to $6.54 billion in 2030 at a compound annual growth rate (CAGR) of 12.2%. The growth in the forecast period can be attributed to growing investment in hybrid-electric and fully electric propulsion technologies, rising demand for lightweight and high-efficiency electrical systems in next-generation aircraft, expansion of unmanned and urban air mobility platforms requiring advanced electric architectures, development of high-density energy storage solutions enabling broader adoption of electric systems, increasing regulatory emphasis on sustainable aviation driving adoption of more electric aircraft designs. Major trends in the forecast period include increasing adoption of evtol and electric regional aircraft, growing integration of hybrid electric propulsion systems, expansion of energy storage and power conversion technologies, development of advanced power distribution and generation systems, focus on sustainable and low-emission aircraft design.

The growing air passenger traffic is expected to drive the expansion of the electric aircraft market in the coming years. Air passenger traffic refers to the number of individuals traveling on an aircraft. More electric aircraft are used to transport commercial and business passengers and feature advanced technologies such as computer-controlled, electrically powered propellers. For example, according to the International Air Transport Association (IATA), a Canada-based trade association representing the world’s airlines, total air traveler numbers are projected to reach 4 billion in 2024, surpassing pre-COVID-19 levels by 103%. Therefore, the increase in air passenger traffic is contributing to the growth of the electric aircraft market.

Major players in the electric aircraft market are focusing on developing innovative technologies, such as high-performance silicon carbide inverters for more electric aircraft. High-performance silicon carbide inverters are power electronic devices that effectively convert and manage electrical energy, enabling lightweight, reliable, and highly efficient operation in more electric aircraft. For instance, in April 2024, ZeroAvia, a US-based aerospace company, introduced a range of electric and hydrogen aviation components aligned with its manufacturing strategy. This initiative aims to leverage the multi-billion-dollar market opportunity for its hydrogen-electric powertrains. The company is working on certifying the ZA600 engine for aircraft with up to 20 seats and advancing the ZA2000 engine for aircraft with up to 90 seats. ZeroAvia identified opportunities in advanced electric motors, high-performance silicon carbide inverters, customizable LT-PEM fuel cells, HT-PEM fuel cell stacks, and a specialized aviation fuel cell compressor, all designed to meet aerospace standards, improve performance, and reduce aviation’s environmental impact.

In February 2024, BAE Systems plc, a UK-based defense and aerospace technology company, acquired Ball Aerospace & Technologies Corp. for an undisclosed amount. This acquisition is intended to strengthen BAE Systems’ technological capabilities in space, intelligence, and mission systems, as well as broaden its U.S. customer base in defense and civil space sectors. Ball Aerospace & Technologies Corp. is a US-based manufacturer specializing in spacecraft, mission payloads, and optical and antenna systems for defense, intelligence, and civilian space applications.

Major companies operating in the more electric aircraft market are AMETEK Inc., BAE Systems PLC, Bombardier Inc., Elbit Systems Ltd., GE Aviation, Honeywell International Inc., Raytheon Technologies Corporation, Rolls-Royce Holdings PLC, Safran Group, Thales Group, Boeing, Airbus S.A.S, Lockheed Martin, Parker-Hannifin Corp., Eaton, Ampaire, Bye Aerospace, Dixion Motors Inc., Dufour Aerospace, Electric Aircraft Corporation, Embraer SA, Eviation Alice, Faradair, Joby Aviation, Longanair Ltd., Magnix, Pipistrel USA, Siemens, Wright Electric, Zunum Aero, AeroTEC.

Europe was the largest region in the more electric aircraft market in 2025. The regions covered in the more electric aircraft market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs have impacted the more electric aircraft market by raising the cost of imported electric propulsion systems, energy storage components, and advanced avionics, affecting segments such as fixed wing and hybrid aircraft. Regions like North America, Europe, and Asia-Pacific, which rely on imported components for aircraft manufacturing, are most affected. While tariffs increase costs, they also incentivize local manufacturing, development of domestic components, and innovation in electric aircraft technologies.

The more electric aircraft market research report is one of a series of new reports that provides more electric aircraft market statistics, including more electric aircraft industry global market size, regional shares, competitors with a more electric aircraft market share, detailed more electric aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the more electric aircraft industry. This more electric aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

In the aviation industry, a more electric aircraft refers to an aircraft design that relies more heavily on electrical power compared to conventional aircraft. This shift utilizes electric motors that generate power more efficiently than traditional aviation engines fueled by fossil fuels.

The primary categories of more electric aircraft encompass fixed-wing, rotary-wing, and hybrid-wing aircraft. Fixed-wing aircraft include propeller-driven or jet engine-powered planes with stationary wings. These aircraft systems cover propulsion, airframe systems, power generation, distribution, conversion, and energy storage, catering to both civil and military aviation applications.

The countries covered in the more electric aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The more electric aircraft market consists of sales of airships, unmanned aircraft, vertical flight, experimental demonstrators, solar aircraft, general aviation, and airliner projects. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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