Aircraft electrification refers to replacing traditional mechanical, hydraulic, and pneumatic systems in aircraft with electrically powered alternatives: electric propulsion, power distribution, energy storage, flight control systems, etc. According to Stratview Research, the aircraft electrification market was estimated at USD 8.5 billion in 2024 and is projected to grow at a CAGR of 14.0% from 2025 to 2032, reaching USD 24.4 billion by 2032.

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Drivers

Several strong forces are pushing this market forward:

• Demand for electric propulsion systems: As aviation strives to reduce fuel use and emissions, electric propulsion (including hybrid and more-electric aircraft architectures) is increasingly viewed as necessary. The propulsion systems segment is expected to hold the larger share of the market as more aircraft OEMs pursue electrification.
• Regulatory pressure and environmental mandates: Governments, regulatory bodies, and international organizations have set strict emission reduction goals for aviation. Reduced carbon emissions / decarbonizing flight operations are strong motivators for electrification.
• Technological maturity & component development: Advances in batteries, power electronics, lighter electrical distribution networks, and energy storage devices are enabling more feasible electrified systems. As these supporting technologies improve, more aircraft systems can be electrified.
• Growing interest in More Electric and Hybrid Aircraft: Instead of fully electric, many OEMs and operators are initially focusing on incremental electrification: replacing non-propulsion hydraulic or pneumatic systems, better electrical generation/distribution, etc., which is easier to adopt and provides fuel / maintenance savings.

Trends

Here are some of the emerging / ongoing trends in the aircraft electrification market:

• Propulsion Systems vs Aircraft Systems: The market is segmented by system type; propulsion systems are expected to bear the bulk of growth. Meanwhile, electrification of aircraft systems (like environmental control, actuation, flight controls) is also rising.
• Regional leadership in Europe: Europe is expected to be the largest market region over the forecast period. Countries like France, Germany, UK, Switzerland are leading due to regulatory push, strong aerospace industries, and environmental policies.
• Focus on hybrid architectures: Full electric flight is still limited by battery energy density, weight, etc., so hybrid configurations are seen as practical near-term solutions. More Electric and hybrid electric systems are likely to be dominant in many aircraft types before full electric becomes widely feasible. (While Stratview’s report doesn’t detail every proportion, it highlights that propulsion systems are growing with environmental drivers.)
• Increasing OEM / Tier-1 investment: Major aerospace players (e.g. Honeywell, Safran, GE, etc.) are investing more in power electronics, electric motors, advanced energy storage, etc. The supply chain is seeing more attention.

Conclusion

The aircraft electrification market is poised for strong growth: from USD 8.5B in 2024 to about USD 24.4B by 2032 at ~14% CAGR. For industry players—OEMs, suppliers of batteries, electric motors, power electronics, actuators, etc.—this is a period of opportunity.

To succeed, companies will need to address technical challenges like energy density of storage, weight, thermal management, reliability, safety certification, and integration with existing systems. They should also align with regulatory environments, especially in Europe and areas pushing emissions reduction. Hybrid architectures likely will dominate the near to medium term, with full electrification following as tech matures. For investors and innovators, working now on enabling technologies and scalable electric systems will give advantage as the market scales.