The electric aircraft market is gaining significant attention as airlines and manufacturers focus on reducing carbon emissions and operational costs. MRFR estimates that the market will expand from USD 19.62 billion in 2024 to USD 94.82 billion by 2035, registering a CAGR of 15.4%. The surge is fueled by government initiatives promoting green aviation, rising fuel costs, and increasing adoption of electric propulsion systems in both passenger and cargo aircraft segments.

The adoption of advanced propulsion systems and lightweight materials is transforming the electric aircraft market. Electric aircraft offer quieter operations, lower maintenance costs, and enhanced energy efficiency compared to conventional aircraft. MRFR identifies short-haul regional transport, urban air mobility, and cargo drones as key applications driving market growth. Innovations in autonomous navigation, AI-powered flight management, and real-time monitoring systems further enhance the efficiency and reliability of electric aircraft, making them increasingly attractive for commercial and private aviation.

A strong focus on the Aircraft Electrical Systems Market is essential for the proliferation of electric aircraft. Electrical systems provide the backbone for propulsion, flight control, and energy management, and advancements in battery technology, power electronics, and energy storage are critical for longer flight ranges and safety compliance. These technological improvements are crucial for hybrid-electric and fully electric aircraft platforms and are shaping the evolution of the aviation sector.

Regionally, North America and Europe are the leading markets for electric aircraft due to their established infrastructure and R&D capabilities. Asia-Pacific is poised to witness the fastest growth driven by investments in urban air mobility, increasing adoption of short-haul electric aircraft, and government support for green aviation initiatives. Leading companies such as Boeing, Airbus, Pipistrel, magniX, and Joby Aviation are investing in aircraft electrical systems, battery efficiency, and autonomous technology to drive the future of sustainable aviation.