Electric airplanes are those that use electric motors for propulsion. Electricity can be produced using solar cells, fuel cells, ultra capacitors, batteries, ground power lines, and other technologies. Batteries are the most commonly used energy carrier for electric aircraft due to their enormous capacity. Batteries used to be heavy and difficult to use. However, as technology develops, there is a higher need for lighter, rechargeable batteries. The main market forces anticipated to propel the electric aircraft market throughout the anticipated period are rising environmental concerns, increasing awareness of safety issues, and expanded R&D in the aerospace industry. By reducing fuel combustion, air and noise pollution, and airplane maintenance costs, electric aircraft are used more frequently. Additionally, modern technologies are used in the design of electric aircraft to ensure optimum safety while minimizing their influence on the environment.
Between 2022 and 2030, the global market for Electric Aircraft expanded at a CAGR of 14.5 percent.
Key Companies in the Electric Aircraft Industry:
1. Boeing
Boeing is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. It was founded in 1916 and headquartered in Virginia, U.S. It operates in more than 65 countries. Boeing will invest $450 million in Wisk Aero in January 2022. This company is developing fully autonomous, all-electric passenger aircraft.
2. Airbus
Airbus was founded in 1998 and headquartered in Netherlands. It operates in France, Germany, Spain, and the United Kingdom, along with more recent additions in Canada, China, and the United States. The aerospace industry's shift to hybrid and fully electric aircraft, such as the ZEROe roadmap or the CityAirbus NextGen, depends critically on the development of next-generation semiconductors, which are a key enabler of the agreement between Airbus and STMicroelectronics announced in June 2023.
3. Raytheon Technologies Corporation
Raytheon Technologies Corporation is an American multinational aerospace and defense conglomerate headquartered in Arlington, Virginia, was founded in 2020 and is headquartered in Virginia, U.S. It operates in more than 30 countries. The regional hybrid-electric flight demonstrator owned by Raytheon Technologies reported a successful first engine run in December 2022, clearing the way for flight testing to start in 2024.
4. Honeywell International Inc.
Honeywell International Inc. was established in 1906 and is headquartered in North Carolina, United States. It has a global presence in 70 countries. In March 2021, Honeywell disclosed that it is working on a power source for hybrid-electric aircraft that will be unveiled later this year.
5. Thales Group
Thales Group was established in 2000 and has its main office in Paris, France. It is active in more than 56 nations. In order to support the development of Eve's electric vertical take-off and landing aircraft (eVTOL) in Brazil, Eve UAM, LLC, an Embraer subsidiary, and Thales, a worldwide technology leader in the defense, aeronautics, space, transportation, digital identity, and security markets, will work together in April 2022.
6. Lockheed Martin Corporation
Lockheed Martin Corporation is a multinational American firm having interests in the aerospace, armaments, defense, information security, and technology sectors. Maryland, in the United States, is where its headquarters are located. It is active in more than 50 nations throughout the world. Hybrid-Electric Demonstrator (HEX), a completely autonomous hybrid-electric vertical-take-off-and-landing (eVTOL) prototype, will be introduced by Lockheed Martin subsidiary Sikorsky in March 2023. The unmanned aircraft will act as a flying test-bed for large aircraft design, novel propulsion systems, and control architectures for continuous hover and ranges greater than 500 nautical miles. Its maximum gross weight is around 7,000 pounds.
7. Elektra Solar GmbH
Elektra Solar GmbH was founded in 2016 and headquartered in Landsberg Am Lech, Germany. It operates globally.
8. Siemens
Siemens is a German medical device company, was founded in 2017 and headquartered in Erlangen, Germany. It operates in over 70 countries.
9. Safran
Safran is a French multinational company, was founded in 2005 and headquartered in Paris, France. It operates in 30 countries. In June 2023, Safran and Electra sign a contract to work together to develop a turbogenerator for the aircraft's hybrid-electric propulsion system.
10. Bombardier
Bombardier was founded in 1942 and headquartered in Montreal, Canada. It operates in 28 countries.
Definition: An airplane that runs on electricity is called an electric aircraft. With zero emissions and quieter flights, electric aircraft are viewed as a means to lessen the environmental effects of aviation. The most popular way to supply electricity is using batteries, but there are other options as well. Most of them use electric motors to power turbines or propellers.
