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Report: Electric Aircraft Market worth $11bn by 2021

28 Nov 2016
The report "More Electric Aircraft Market by Technology (Power Electronics, Thermal Management, Energy Storage & Others), Application (Power Generation, Passenger Comfort, Air Pressurization & Others) Platform (Fixed Wing, Rotary Wing), and Region - Global Forecast to 2021", published by MarketsandMarkets, has projected the electric aircraft market to grow from USD 7.68 Billion in 2016 to USD 10.94 Billion by 2021.

The report suggests that a decrease in aircraft operating and maintenance cost, reduction in carbon emissions, and consumer demand for optimized aircraft performance are the major factors for the predicted growth. 

Economic growth, expansion of commercial and military aviation, including space missions by various space agencies are also factors driving the North American electric aircraft market, according to the report.

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