Global Electric Propulsion Systems Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

By Type;

Hybrid and Full-electric.

By Application;

Airborne, Terrestrial, Marine and Space.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2020 - 2030).
Report ID: Rn409040305 Published Date: May, 2024 Updated Date: June, 2024

Introduction

Global Electric Propulsion Systems Market (USD Million), 2020 - 2030

In the year 2023, the Global Electric Propulsion Systems Market was valued at USD 9,572.81 million. The size of this market is expected to increase to USD 14,204.93 million by the year 2030, while growing at a Compounded Annual Growth Rate (CAGR) of 5.8%.

The global electric propulsion systems market is experiencing robust growth driven by the aviation industry's increasing emphasis on sustainability, fuel efficiency, and reduced carbon emissions. Electric propulsion systems, which utilize electric motors powered by batteries or fuel cells, offer significant advantages over traditional combustion engines, including lower operating costs, reduced environmental impact, and enhanced performance characteristics. As a result, electric propulsion systems are gaining traction across various aviation sectors, including general aviation, urban air mobility, and unmanned aerial vehicles (UAVs), driving market expansion and innovation.

Key drivers stimulating the growth of the global electric propulsion systems market include advancements in battery technology, government initiatives to promote clean energy adoption, and the growing demand for electric aircraft in urban transportation and logistics applications. Breakthroughs in battery energy density, efficiency, and safety are enabling the development of electric propulsion systems capable of powering aircraft with longer flight ranges and higher payloads. Additionally, government incentives, subsidies, and regulatory frameworks aimed at reducing greenhouse gas emissions are encouraging investment in electric propulsion technologies, further accelerating market growth and adoption.

Moreover, the emergence of new market players, partnerships, and research collaborations is fostering innovation and driving technological advancements in the electric propulsion systems market. Aircraft manufacturers, startups, and established aerospace companies are investing in R&D initiatives to develop electric aircraft platforms and propulsion systems tailored to specific market needs. Furthermore, collaborations between industry stakeholders, academic institutions, and government agencies are driving interdisciplinary approaches to address technical challenges and accelerate the commercialization of electric propulsion technologies. As the global aviation industry continues to transition toward sustainable aviation solutions, the electric propulsion systems market is poised for continued growth, shaping the future of air transportation.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Type
    2. Market Snapshot, By Application
    3. Market Snapshot, By Region
  4. Global Electric Propulsion Systems Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Advancements in battery technology
        2. Government incentives for clean energy
        3. Growing demand for electric aircraft
      2. Restraints
        1. Infrastructure limitations
        2. High initial costs
        3. Regulatory challenges
      3. Opportunities
        1. Expansion into urban air mobility
        2. Development of unmanned aerial vehicles (UAVs)
        3. Research and development innovations
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Electric Propulsion Systems Market, By Type, 2022 - 2032 (USD Million)
      1. Hybrid
      2. Full-electric
    2. Global Electric Propulsion Systems Market, By Application, 2022 - 2032 (USD Million)
      1. Airborne
      2. Terrestrial
      3. Marine
      4. Space
    3. Global Electric Propulsion Systems Market, By Geography, 2022 - 2032 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Sitael SpA
      2. Daihatsu Diesel Mfg. Co. Ltd
      3. Accion Systems In
      4. Busek Co. Inc.
      5. Orbital ATK
      6. Ad Astra Rocket Company
      7. MSNW LLC
      8. Aerojet Rocketdyne Holdings, I
      9. The General Electric Company
      10. Yanmar Co. Ltd
  7. Analyst Views
  8. Future Outlook of the Market