Global Electric And Hybrid Aircraft Propulsion System Market 2024-2030

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    ELECTRIC AND HYBRID AIRCRAFT PROPULSION SYSTEM MARKET

     

    INTRODUCTION

    By combining gasoline-burning engines with electric motors and batteries, hybrid-electric propulsion systems offer the potential to greatly increase aircraft fuel efficiency, reduce carbon dioxide emissions, and possibly even minimize maintenance costs. An aeroplane having a hybrid electric powertrain is referred to as a hybrid electric aircraft.

     

    Electric And Hybrid Aircraft Propulsion System Market

     

    ‘In comparison to pure electric aircraft, a hybrid electric powertrain may significantly extend flight range because lithium-ion batteries have a lower energy density than aviation fuel. An internal combustion engine and one or more electric motors, which utilize energy stored in batteries, work together to power hybrid electric cars.

     

    The battery of a hybrid electric car cannot be charged by plugging it in. Instead, the internal combustion engine and regenerative braking are used to charge the battery.

     

    By using electric motors as an additional source of thrust during takeoff to enable the employment of more compact and efficient jet engines during the cruise phase of flight, hybrid aircraft can also aid in reducing fuel consumption and contrail generation.

     

    The term “electric propulsion” (EP) refers to a form of space propulsion that uses electrical power to accelerate a propellant using a variety of electrical and/or magnetic techniques. Comparing the EP thrusters to conventional chemical thrusters, the utilization of electrical power improves the propulsive performances.

     

    The advantages of using EMs and PECs over ICEs for energy conversion include their higher efficiency and the fact that fewer control techniques are needed to operate a single power source. The biggest drawback is the poor BED of actual battery technology, which prevents them from being practical for most aeroplanes.

     

    There are various benefits to electric propulsion. Initially, it is safer. In that they need a lot less propellant to get the same overall result, such as a specific increase in spaceship velocity, electric-propulsion engines are likewise more effective than chemical ones. 

     

    ELECTRIC AND HYBRID AIRCRAFT PROPULSION SYSTEM MARKET SIZE AND FORECAST

     

    Electric And Hybrid Aircraft Propulsion System Market Size

     

    The Global electric and hybrid aircraft propulsion system market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

     

    ELECTRIC AND HYBRID AIRCRAFT PROPULSION SYSTEM MARKET GEOGRAPHY OVERVIEW

     

    North America

    The North American market, particularly the USA, will be one of the prime markets for Electric And Hybrid Aircraft Propulsion System Market due to the nature of industrial automation in the region, high consumer spending compared to other regions, and the growth of various industries, mainly AI, along with constant technological advancements.

     

    The GDP of the USA is one of the largest in the world, and it is home to various industries such as Pharmaceuticals, Aerospace, and Technology. The average consumer spending in the region was $72K in 2023, and this is set to increase over the forecast period. Industries are focused on industrial automation and increasing efficiency in the region. This will be facilitated by the growth in IoT and AI across the board. Due to tensions in geopolitics, much manufacturing is set to shift towards the USA and Mexico, away from China. This shift will include industries such as semiconductors and automotive.

     

    Europe

    The European market, particularly Western Europe, is another prime market forElectric And Hybrid Aircraft Propulsion System Market due to the strong economic conditions in the region, bolstered by robust systems that support sustained growth. This includes research and development of new technologies, constant innovation, and developments across various industries that promote regional growth.

     

    Investments are being made to develop and improve existing infrastructure, enabling various industries to thrive. In Western Europe, the margins forElectric And Hybrid Aircraft Propulsion System Market are higher than in other parts of the world due to regional supply and demand dynamics. Average consumer spending in the region was lower than in the USA in 2023, but it is expected to increase over the forecast period. 

     

    Eastern Europe is anticipated to experience a higher growth rate compared to Western Europe, as significant shifts in manufacturing and development are taking place in countries like Poland and Hungary. However, the Russia-Ukraine war is currently disrupting growth in this region, with the lack of an immediate resolution negatively impacting growth and creating instability in neighboring areas. Despite these challenges, technological hubs are emerging in Eastern Europe, driven by lower labor costs and a strong supply of technological capabilities compared to Western Europe. 

     

    There is a significant boom in manufacturing within Europe, especially in the semiconductor industry, which is expected to influence other industries. Major improvements in the development of sectors such as renewable energy, industrial automation, automotive manufacturing, battery manufacturing and recycling, and AI are poised to promote the growth ofElectric And Hybrid Aircraft Propulsion System Market  in the region. 

     

    Asia

    Asia will continue to be the global manufacturing hub forElectric And Hybrid Aircraft Propulsion System Market over the forecast period with China dominating the manufacturing. However, there will be a shift in manufacturing towards other Asian countries such as India and Vietnam. The technological developments will come from China, Japan, South Korea, and India for the region.

     

    There is a trend to improve the efficiency as well as the quality of goods and services to keep up with the standards that are present internationally as well as win the fight in terms of pricing in this region. The demand in this region will also be driven by infrastructural developments that will take place over the forecast period to improve the output for various industries in different countries.    

     

    There will be higher growth in the Middle East as investments fall into place to improve their standing in various industries away from petroleum. Plans such as Saudi Arabia Vision 2030, Qatar Vision 2030, and Abu Dhabi 2030 will cause developments across multiple industries in the region.

     

    There is a focus on improving the manufacturing sector as well as the knowledge-based services to cater to the needs of the region and the rest of the world. Due to the shifting nature of fossil fuels, the region will be ready with multiple other revenue sources by the time comes, though fossil fuels are not going away any time soon.  

     

    Africa

    Africa is expected to see the largest growth inElectric And Hybrid Aircraft Propulsion System Marketover the forecast period, as the region prepares to advance across multiple fronts. This growth aligns with the surge of investments targeting key sectors such as agriculture, mining, financial services, manufacturing, logistics, automotive, and healthcare. These investments are poised to stimulate overall regional growth, creating ripple effects across other industries as consumer spending increases, access to products improves, and product offerings expand. 

     

    This development is supported by both established companies and startups in the region, with assistance from various charitable organizations. Additionally, the presence of a young workforce will address various existing regional challenges. There has been an improvement in political stability, which has attracted and will continue to attract more foreign investments. Initiatives like the African Continental Free Trade Area (AfCFTA) are set to facilitate the easier movement of goods and services within the region, further enhancing the economic landscape. 

     

    RoW

    Latin America and the Oceania region will showcase growth over the forecast period inElectric And Hybrid Aircraft Propulsion System Market). In Latin America, the focus in the forecast period will be to improve their manufacturing capabilities which is supported by foreign investments in the region. This will be across industries mainly automotive and medical devices. There will also be an increase in mining activities over the forecast period in this region. The area is ripe for industrial automation to enable improvements in manufacturing across different industries and efficiency improvements. This will lead to growth of other industries in the region. 

     

    ELECTRIC AND HYBRID AIRCRAFT PROPULSION SYSTEM MARKET MARGIN COMPARISON

     

    Margin                            Comparison (Highest   to lowest)    Region    Remarks 
    Europe  The supply chain demands and the purchasing power in the region enable suppliers to extradite a larger margin from this region than other regions. This is for both locally manufactured as well as imported goods and services in the region. 
    North America  Due to the high spending power in this region, the margins are higher compared to the rest of the world, but they are lower than Europe as there is higher competition in this region. All the suppliers of goods and services target USA as a main market thereby decreasing their margins compared to Europe 
    Asia  Lower purchasing power, coupled with higher accessibility of services in this regions doesn’t enable suppliers to charge a high margin making it lower than Europe and North America. The quality of goods and services are also affected due to this aspect in the region 
    Africa and ROW  The margins are the lowest in this region, except for Australia and New Zealand as the countries in this region don’t have much spending power and a large portion of the products and services from this area is exported to other parts of the world 

     

    ELECTRIC AND HYBRID AIRCRAFT PROPULSION SYSTEM MARKET NEW PRODUCT LAUNCH

    Launch of the Rolls-Royce turbine generator program for hybrid electric aircraft. The development of next-generation turbogenerator technology, which will serve as the foundation for compact engines to power hybrid-electric aircraft, was confirmed by Rolls-Royce this week.

     

    In June, the aero engines group announced that its Rolls-Royce Electrical unit would broaden its product line to support new aircraft that require all-electric propulsion systems and require greater range and payload than current battery technology can provide. This includes aircraft the company is developing for partners like the producers of eVTOL aircraft Vertical Aerospace and Eve.

     

    The 500–1200 kW range of power requirements can be met by the turbogenerator technology Rolls-Royce is developing. After the aircraft lifts off, it will be used to either directly power the propellers or recharge the batteries.

     

    German, Norwegian, and Hungarian engineers are in charge of the program. The Ministry of Economic Affairs and Climate Action of the German government is providing it with unknown sums of money. For advanced air mobility, Rolls-Royce will be the market leader in providing all-electric and hybrid-electric power and propulsion systems, and it will eventually expand this technology to larger platforms.

     

    They are considering providing their customers with the full range of sustainable solutions as part of their overall business plan. By using their turbogenerator technology, electric flight can cover longer journeys. This will promote hybrid-electric flight and enable more passengers to fly farther on aeroplanes with low to net emissions.

     

    The director of customer business at Rolls-Royce told FutureFlight that the company wants to let aircraft makers know that it is prepared to work with them to define and create propulsion systems that satisfy their needs. They predicted that it would be able to begin supplying new hybrid-electric engines between the middle and the end of this decade.

     

    They suggested using these to increase the range of eVTOL and eSTOL aircraft. In ground tests conducted at Rolls-Royce’s Bristol site in the UK last year, the business reached a significant milestone by using its Power Generation System 1 to produce more than one megawatt (1 MW) of power. It intends to produce 2.5 MW of power during additional testing.

     

    This test generator includes one of the group’s AE2100 turbofan engines, together with unique controls and a thermal management system, and Rolls-Royce claims that it is roughly the size of a beer keg.

     

    The business has been testing a smaller 250-kW gas turbine at its Dahlewitz facility in Germany, but has determined that this won’t provide the level of performance required for upcoming hybrid-electric aircraft.

     

    Following the group’s acquisition of Siemens’ electric and hybrid-electric aerospace propulsion operations, Rolls-Royce Electrical was established. The firm and Tecnam of Italy are already collaborating on the P-Volt, an all-electric variant of the P2012 commuter plane. To create designs for an electric regional aeroplane, it also collaborates with Embraer and the Norwegian carrier Wideroe.

     

    ELECTRIC AND HYBRID AIRCRAFT PROPULSION SYSTEM MARKET THIS REPORT WILL ANSWER FOLLOWING QUESTIONS

    1. How many electric and hybrid aircraft propulsion systems are manufactured per annum globally? Who are the sub-component suppliers in different regions?
    2. Cost breakup of a Global electric and hybrid aircraft propulsion system and key vendor selection criteria
    3. Where is the electric and hybrid aircraft propulsion system manufactured? What is the average margin per unit?
    4. Market share of Global electric and hybrid aircraft propulsion system market manufacturers and their upcoming products
    5. Cost advantage for OEMs who manufacture Global electric and hybrid aircraft propulsion system in-house
    6. key predictions for next 5 years in Global electric and hybrid aircraft propulsion system market
    7. Average B-2-B electric and hybrid aircraft propulsion system market price in all segments
    8. Latest trends in electric and hybrid aircraft propulsion system market, by every market segment
    9. The market size (both volume and value) of the electric and hybrid aircraft propulsion system market in 2024-2030 and every year in between?
    10. Production breakup of electric and hybrid aircraft propulsion system market, by suppliers and their OEM relationship

     

    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Abbreviations
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Insights from Industry stakeholders
    8 Cost breakdown of Product by sub-components and average profit margin
    9 Disruptive innovation in the Industry
    10 Technology trends in the Industry
    11 Consumer trends in the industry
    12 Recent Production Milestones
    13 Component Manufacturing in US, EU and China
    14 COVID-19 impact on overall market
    15 COVID-19 impact on Production of components
    16 COVID-19 impact on Point of sale
    17 Market Segmentation, Dynamics and Forecast by Geography, 2024-2030
    18 Market Segmentation, Dynamics and Forecast by Product Type, 2024-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2024-2030
    20 Market Segmentation, Dynamics and Forecast by End use, 2024-2030
    21 Product installation rate by OEM, 2023
    22 Incline/Decline in Average B-2-B selling price in past 5 years
    23 Competition from substitute products
    24 Gross margin and average profitability of suppliers
    25 New product development in past 12 months
    26 M&A in past 12 months
    27 Growth strategy of leading players
    28 Market share of vendors, 2023
    29 Company Profiles
    30 Unmet needs and opportunity for new suppliers
    31 Conclusion
    32 Appendix
     
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