Global Electric and Hybrid Aircraft Propulsion System Market 2019-2023
About Electric and Hybrid Aircraft Propulsion System
An electric propulsion system does away with the need to use oil as fuel and consists of an electric motor, battery containment, and propeller.
Technavio’s analysts forecast the global electric and hybrid aircraft propulsion system market to grow at a CAGR of 6.83% during the period 2019-2023.
Covered in this report
The report covers the present scenario and the growth prospects of the global electric and hybrid aircraft propulsion system market for 2019-2023. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electric and Hybrid Aircraft Propulsion System Market 2019-2023
Technavio recognizes the following companies as the key players in the global electric and hybrid aircraft propulsion system market: Electravia Elektra Solar, GE Aviation, Pipistrel, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for light and ultralight electric aircraft. The global electric and hybrid aircraft propulsion system market expanded at a gradual rate until recently. In 2013, the Volocopter VC-200 made its maiden flight in Germany, and by the fourth quarter of 2017, it received clearance from the UAE Roads and Transport Authority to operate as an Autonomous Air Taxi in Dubai.”
According to the report, one driver in the market is innovative programs in the electric and hybrid aircraft propulsion system market. The GA segment is the driving sector for electric aircraft as manufacturers generally prefer light aircraft for testing purposes. Due to innovative programs such as Urban Air Taxi deploying very light jets for urban mobility. developments in this segment are focused on providing services within a range of about 31 miles.
Further, the report states that one challenge in the market is limitations of existing battery technology. The electric aircraft is generally overhyped as the design concepts of aerospace companies have low conversion rates on application as working commercial models. Aflight requires significant amounts of energy and achieving k is difficult due to technological limitations of the battery industry.
Solar GE Aviation
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