Global Electric and Hybrid Aircraft Propulsion System Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Technology;

Hybrid Powertrain and All-Electric Powertrain.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn953988364 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Electric and Hybrid Aircraft Propulsion System Market (USD Million), 2021 - 2031

In the year 2024, the Global Electric and Hybrid Aircraft Propulsion System Market was valued at USD 12,497.83 million. The size of this market is expected to increase to USD 36,183.08 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 16.4%.

The global electric and hybrid aircraft propulsion system market is experiencing significant growth propelled by the aviation industry's pursuit of more sustainable and eco-friendly solutions. With concerns over greenhouse gas emissions and the environmental impact of traditional aviation propulsion systems, electric and hybrid propulsion systems have emerged as promising alternatives. These systems leverage electric propulsion technologies, including electric motors, batteries, and fuel cells, to power aircraft, reducing reliance on conventional fossil fuels and mitigating emissions.

Key drivers stimulating the growth of the global electric and hybrid aircraft propulsion system market include advancements in battery technology, government initiatives to promote clean energy adoption, and the aviation industry's commitment to reducing carbon footprint. Breakthroughs in battery energy density and efficiency are enabling the development of electric aircraft capable of longer flight ranges and higher payloads, making electric propulsion systems increasingly viable for commercial and general aviation applications. Additionally, governments worldwide are implementing regulations and incentives to encourage the adoption of electric and hybrid propulsion technologies, driving investment and innovation in the sector.

Moreover, the growing interest from aircraft manufacturers, airlines, and research institutions in electric and hybrid propulsion systems presents substantial opportunities for market expansion and technological innovation. Aircraft manufacturers are actively pursuing electric and hybrid propulsion projects, aiming to develop cleaner, quieter, and more efficient aircraft designs. Airlines are exploring the potential of electric aircraft to reduce operating costs and environmental impact, while research institutions are conducting research and development initiatives to overcome technical challenges and accelerate the adoption of electric propulsion systems. As the global aviation industry transitions toward sustainable aviation solutions, the electric and hybrid aircraft propulsion system 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 Technology
    2. Market Snapshot, By Region
  4. Global Electric and Hybrid Aircraft Propulsion System Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Advancements in battery technology
        2. Government incentives for clean energy
        3. Aviation industry's sustainability goals
      2. Restraints
        1. Technical challenges in development
        2. Infrastructure limitations
        3. High initial costs
      3. Opportunities
        1. Growing demand for eco-friendly aviation
        2. Potential for cost savings
        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 and Hybrid Aircraft Propulsion System Market, By Technology, 2021 - 2031 (USD Million)
      1. Hybrid powertrain
      2. All-electric powertrain
    2. Global Electric and Hybrid Aircraft Propulsion System Market, By Geography, 2021 - 2031 (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. Airbus SE
      2. Boeing Company
      3. Safran SA
      4. Rolls-Royce Holdings plc
      5. Honeywell International Inc.
      6. Siemens AG
      7. United Technologies Corporation
      8. MagniX
      9. Electric Aircraft Corporation
      10. Zunum Aero
  7. Analyst Views
  8. Future Outlook of the Market