More Electric Aircraft Market Projected to Exceed $8.6 Billion by 2031
The global More Electric Aircraft (MEA) market is forecast to grow from $5.07 billion in 2024 to $8.66 billion by 2031, marking a compound annual growth rate of 7.9%. This expansion is driven by the aviation industry's pursuit of greater fuel efficiency, reduced emissions, and lower operational costs. Key technological advancements in power electronics, thermal management, and energy storage systems are critical enablers of this shift. The report highlights North America as the dominant market region, with companies like Safran, RTX Corporation, and GE Aerospace leading the development.
Official Source: https://www.prnewswire.com/news-releases/more-electric-aircraft-market-worth-8-66-billion-by-2031---exclusive-report-by-marketsandmarkets-302880293.html
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