A Market Place Research – Page 1271

Application Server Market Value to Surpass USD 53.3 Billion by 2031

According to the report published by Allied Market Research, the global application server market generated $17 billion in 2021, and is projected to reach $53.3 billion by 2031, growing at a CAGR of 12% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

The report offers a detailed segmentation of the global application server market based on the application server, deployment model, end-use vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.

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Based on the application server, the active application server segment held the major market share in 2021, holding nearly half of the global application server market share, and is expected to maintain its leadership status during the forecast period. In addition, the same segment, on the other hand, is expected to cite the fastest CAGR of 13.0% during the forecast period. The report also includes segments such as web information server and component server segments.

Based on the deployment model, the cloud based segment held the largest market share in 2021, accounting for three-fourths of the global application server market share, and is expected to maintain its leadership status during the forecast period. Moreover, the same segment, on the other hand, is expected to cite the highest CAGR of 13.0% during the forecast period. The report also includes other segments such as the on-premises segment.

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Based on the end-use vertical, the IT and telecom segment held the major market share in 2021, contributing nearly one-third of the global application server market share, and is expected to maintain its leadership position during the forecast period. Furthermore, the same segment, on the other hand, is expected to cite the fastest CAGR of 15.0% during the forecast period. The report includes other segments such as BFSI, healthcare and life sciences, government and public sector, retail and consumer goods, and others segments.

Based on region, the market across the North American region held the major market share in 2021, holding nearly half of the global application server market share. The region is predicted to continue its global market dominance even in the coming years. On the contrary, the Asia-Pacific region is expected to cite the fastest CAGR of 13.0% during the forecast period. The report also analyses other regions such as Europe and LAMEA.

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The key players analyzed in the global application server market report include Adobe Inc., The Apache Software Foundation, Dell Technologies, Inc., Hitachi Ltd., International Business Machines (IBM) Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, TIBCO Software Inc., and VMware, Inc.

The report analyzes these key players in the global application server market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolios, business performance, and operating segments by prominent players in the market.

Key Findings of the Study –

By application server, in 2021, active application server is considered to hold the maximum Application Server Market Size, with $7,988.0 million. However, the web information server segment is expected to witness significant CAGR of 12.0% during the forecast period.
By deployment model, cloud-based segment was the highest revenue contributor to the market, with $12,702.0 million in 2021. However, the on-premises segment is estimated to reach is estimated to reach $11,459.0 million by 2031, at a significant CAGR of 10.0% during the forecast period.
By end-use vertical, IT & telecom segment was the highest revenue contributor in 2021. However, the BSFI segment is expected to witness highest growth rate in the Application Server Market Forecast period.
Region wise, the application server market growth was dominated by North America region. However, Asia-Pacific and Europe is expected to witness significant growth rate during the forecasted period.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Advanced Distribution Management System Market Growth Opportunities and Future Scope, 2021–2031

Surge in demand for integrated single platform, rising adoption of smart grid applications, growing dependency on automated metering systems, and escalating popularity of electric vehicles to drive the growth of the global Advanced Distribution Management System Market. The COVID-19 outbreak favorably impacted growth of the global market with surging acceptance of connected devices and supportive government initiatives related to use of smart grid system in the energy & utilities sector.

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The report offers detailed segmentation of the global advanced distribution management system market based on solution, organization size, end-use vertical, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation.

Based on end-use vertical, the telecom segment held the largest market share in 2021, holding nearly one-third of the global market share, and is expected to maintain its leadership status during the forecast period. The manufacturing segment, on the other hand, is expected to cite the fastest CAGR of 22.5% during the forecast period.

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Based on region, the market across North America held the largest market share in 2021, holding nearly two-fifths of the global market share, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 20.6% during the forecast period.

The key players analyzed in the global advanced distribution management system market report include Eaton Corporation Plc (Tripp Lite), General Electric, Hitachi, Ltd., ltron Inc., Mitsubishi Electric Corporation, Oracle Corporation, Schneider Electric SE, Siemens AG, Innowatts Inc., and Wipro Limited.

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COVID-19 Scenario:

The outbreak of COVID-19 has had a positive impact on the growth of the global advanced distribution management system market, owing to the increased adoption of connected devices and increase in electricity consumption in various countries across the globe. More and more people were required stay at home during the pandemic to curb the spread of the virus, and hence, various organizations across the globe were to adopt remote work policies.
The transition has led to a rapid increase in demand for tools to support remote teams and workflows. The current estimation of 2031 is projected to be higher than pre-COVID-19 estimates.
The COVID-19 outbreak has high impact on the growth of advanced distribution management system market, as increasing number of automated electric vehicle systems, growing adoption of connected devices, and surging government initiative to provide smart grid system in energy & utilities sector will provide lucrative opportunities for the growth of the advanced distribution management system market.

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IoT Integration Market Value to Hit USD 78.1 Billion by 2031

According to the report, the global IoT integration market generated $3.8 billion in 2021, and is estimated to reach $78.1 billion by 2031, witnessing a CAGR of 35.4% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Rise in demand for IoT applications and the increase in penetration of IoT-powered smartphones and smart wearables are expected to fuel the growth of the global IoT integration market. However, the higher installation costs and complex infrastructural requirements hinder the market growth. On the other hand, advancements in the field of IoT and cloud technology present new opportunities for the market in future.

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The system design services segment to dominate in terms of revenue during the forecast period

Based on service type, the system design services segment was the largest in 2021, occupying nearly two-fifths of the overall market share and is likely to dominate the market during the forecast period. This is attributed to the growth of IoT solutions in modern business enterprises. However, the application management services segment contributed to the fastest CAGR of 40.0% in 2031, owing to the growing need to simplify IoT applications management.

The large enterprises segment to maintain its lion’s share during the forecast period

Based on enterprise size, the large enterprises segment held the largest share of nearly three-fourths of the global IoT integration market in 2021, and is expected to maintain a prominent growth during the forecast period. This is due to the large-scale IoT and operation management needs of large enterprises.

However, the small and medium enterprises (SMEs) segment is likely to exhibit the highest CAGR of 38.2% in 2031, owing to, the growing adoption of innovative technologies by modern SMEs.

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The manufacturing segment to maintain its lion’s share during the forecast period

Based on industry vertical, the manufacturing segment held the largest share of around one-fourth of the global IoT integration market in 2021, and is expected to maintain a noteworthy growth during the forecast period, owing to the growing industrial IoT and automation trends. However, the healthcare segment is likely to exhibit the highest CAGR of 40.7% in 2031, owing to the growing need to optimize the patient data monitoring and collection in the healthcare sector.

North America to maintain its leadership in terms of revenue by 2031

Based on region, North America held the largest market share in 2021, accounting for nearly two-fifths of the global IoT integration market, and is likely to lead the trail throughout the forecast period, owing to the presence of key IoT solution vendors in the region. However, Asia-Pacific is anticipated to manifest the fastest CAGR of 38.7% during the forecast period, 2022-2031, owing to the ongoing digital and economic transformation of the region. The other regions discussed in the report are Europe and LAMEA.

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Key market players –

Accenture
ATOS SE
Capgemini
Cognizant
Dell Technology
DXCTechnology
Fujitsu Limited
HCL Technologies
IBM Corporation
Infosys Limited
NTT data corporation
Salesforce Inc.
Tech Mahindra
Tata Consultancy Services
Wipro
Deloitte
Softdel

Key Findings of the Study –

By enterprise size, the large enterprise segment accounted for the largest IoT integration market share in 2021.
By region, North America generated the highest revenue in 2021.
By service type, the system design services segment generated the highest revenue in 2021.

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Air Filtration Media Market Size Worth $5,347.6 Million by 2026

The Global Air Filtration Media Market size was valued at $3,573.0 million in 2018, and is projected to reach $5,347.6 million by 2026, growing at a CAGR of 5.0% from 2019 to 2026. In 2018, Asia-Pacific dominated the global market in terms of revenue, accounting for around 33.5% share, followed by LAMEA.

Top Companies

The key market players profiled in the report include 3M, Ahlstrom-Munksjo, AIM Nonwovens and Interiors Private Limited, Air filters, Inc., Berry, Cabot Corporation, Calgon Carbon Corporation, Clean & Science, Donaldson company, Inc, Elta Group, H&V, HVDS, Innovatec, Irema, Johns Manville, Lydall, Permatron Corporation, Porvair Filtration Group, Sandler, Schweitzer-Mauduit International, Inc, Superior Felt And Filtration, LLC, and Toray.

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The air filtration media market has witnessed an unprecedented demand in the recent years, due to increased concerns about high efficiency and productivity, especially in HVAC industry. Moreover, factors such as increase in number of manufacturing industries and surge in awareness about air pollution boost the adoption of air filter media. However, the air filtration media market in LAMEA is in its nascent stage and is expected to witness significant growth in the future. Asia-Pacific region are anticipated to provide lucrative opportunities for the market players, owing to economic growth and improvement in access to advanced technologies in these regions. However, high product and installation cost restrict the market growth. Furthermore, there is a decline in the new construction of coal power plants. This reduced the demand for the air filters media used in power manufacturing sector, thereby restraining the air filtration media market growth during the forecast period.

In 2018, the HVAC segment dominates the market after transportation segment due wide demand for machinery, construction, metal, and plastic industries. There is high demand for the air purifier in the fast emerging economies such as India and China, owing to the presence of several local and regional manufacturers. Such factors fuel the adoption of air filter media globally.

This report discusses various aspects of the market. In recent times, various air filter media are being used in the pharmaceutical and logistics industries. Based on media type, the spunbond segment with its long-range operation capabilities contributes to the largest share in 2018. Furthermore, based on end user, in 2018, the commercial segment was the highest revenue contributor across the globe, owing to the features which offers high durability. This in turn is expected to fuel the growth of the market.

The Aftermarket segment has the highest share in the air filtration media market in 2018, and is expected to grow at a CAGR of 5.2% during the forecast period. In terms of usage, the disposable is expected to offer the highest market share in the coming years. Moreover, rise industrialization is expected to contribute lucrative growth opportunities to small manufacturers across the globe.

LAMEA registered the second highest growth rate after Asia-Pacific in the air filtration media market in 2018, and is expected to continue this trend during the forecast period, owing to expansion of the commercial, and automotive sectors in the region. In 2018, the air filtration media market share is highest among the commercial segment, owing to the growth in commercial sector. For instance, in March 2018, Calgon Carbon Corporation was acquired by Kuraray Co., Ltd. Calgon Carbon is expected to operate as a completely owned subsidiary of Kuraray, a global leader in the development of resins, chemicals, fibers and textiles. The acquisition has increased the global carbon materials business with a focus on activated carbon, activated carbon services, and filtration media. Similarly, in October 2018, Donaldson Company, Inc. announced the acquisition of BOFA International Ltd, a seller of fume extraction technology systems for various industries. The acquisition was meant to be completed by the end of first quarter of 2019.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Penetration Testing Market Value to Cross USD 5.3 Billion by 2031

As per the report, the global penetration testing market was pegged at $1.6 billion in 2021, and is expected to reach $5.3 billion by 2031, growing at a CAGR of 13.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario.

Rise in number of data centers and high adoption of cloud computing solutions and services have boosted the growth of the global penetration testing market. Furthermore, strict government regulations to boost adoption of penetration testing solutions supplemented the market growth. However, dearth of skilled security professionals and high implementation cost hinder the market growth. On the contrary, rise in popularity of PTaaS and security assessment for remote workers would open new opportunities in the future.

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The small and medium segment to showcase the highest CAGR through 2031

By organization size, the small and medium segment is estimated to register the highest CAGR of 14.4% from 2022 to 2031, due to the features of Penetration Testing systems such as cost-efficiency and less time & efforts for better management and enhanced business operations. However, the large enterprise segment held the largest share in 2021, contributing to more than two-thirds of the global penetration testing market, owing to increase their productivity with efficiency and constant quality.

The healthcare segment to manifest the highest CAGR through 2031

By industry vertical, the healthcare segment is expected to portray the highest CAGR of 17.4% during the forecast period, as it helps the doctors to integrate their appointment and clinic management to streamline process and reduce the load of management on clinics without any security concerns. However, the BFSI segment held the largest share in 2021, contributing to more than one-fifth of the global penetration testing market, as it provides enhanced security to customers’ financial information at the time of sanctioning unsecured loans.

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The solution segment dominated the market

By component, the solution segment held the lion’s share in 2021, accounting for nearly two-thirds of the global penetration testing market, as it assists organizations in detection zero-day attacks and predicts any future loopholes. However, the services segment is estimated to register the highest CAGR of 13.7% during the forecast period, due to rise in demand for cyber security services during remote working in COVID-19 pandemic to make the network more secure and convenient.

North America dominated the market

By region, the market across North America held the lion’s share in 2021, accounting for more than one-third of the global penetration testing market, due to increase in adoption of advanced technologies such as cloud technology, big data, artificial intelligence, and machine learning for automation across industries. However, the market across Asia-Pacific is estimated to register the highest CAGR of 14.5% during the forecast period, owing to rise in penetration testing awareness and growth in the number of SMEs adopting cloud-based security testing in the region.

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Key market players –

Breachlock Inc.
Bugcrowd
Cigniti Technology Ltd.
Cisco Systems, Inc.
CovertSwarm
Isecurion
Netragard
NetSPI LLC
Nowsecure
PortSwigger Ltd.
Rapid 7
Rebot Security
SecurityMetrics
TrustWave Holdings, Inc.
Vumetric Cybersecurity
Astra Security
Vairav Technology

Key Findings of the Study –

By testing type, the employer supplied penetration testing segment accounted for the largest penetration testing market share in 2021.
Region wise, North America generated highest revenue in 2021.
Depending on component, the solution segment generated the highest revenue in 2021.

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Geomarketing Market Rising New Business Opportunities for Investors (2021-2031)

Increase in investment in digital marketing compared to conventional marketing and surge in demand for location-based intelligence have boosted the growth of the global Geomarketing Market. The market across North America held the largest share in 2021, accounting for more than two-fifths of the market. The geomarketing market witnessed stable growth during the Covid-19 pandemic due to surge in digital penetration during the lockdown period.

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The report segments the global geomarketing market on the basis of offering, deployment mode, enterprise size, industry vertical, and region.Based on offering, the report is divided into software and service. The software segment held the lion’s share in 2021, accounting for nearly two-thirds of the market. However, the service segment is projected to manifest the highest CAGR of 22.5% from 2022 to 2031.

On the basis of location type, the outdoor segment held the largest share in 20211, accounting for around three-fourths of the market. However, the indoor segment is estimated to manifest the highest CAGR of 22.4% from 2022 to 2031.Based on enterprise size, the large enterprises segment held the largest share in 2021, contributing to nearly three-fourths of the market. However, the SMEs segment is expected to register the highest CAGR of 22.7% during the forecast period.

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The global geomarketing market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across North America held the largest share in 2021, accounting for more than two-fifths of the market. However, the market across Asia-Pacific is anticipated to portray the highest CAGR of 23.6% during the forecast period.

The global geomarketing market includes an in-depth analysis of the prime market players such as Adobe, Cisco Systems, Inc., CleverTap, ESRI, Galigeo, Google LLC., HYP3R, Inc., IBM, Microsoft, Oracle, PlotProjects, Qualcomm Technologies, Inc., Saksoft, Salesforce, Inc., Software AG, Telefonaktiebolaget LM Ericsson, and Xtremepush.

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Covid-19 scenario:

The geomarketing market witnessed stable growth during the Covid-19 pandemic due to surge in digital penetration during the lockdown period. Moreover, the strict social distancing policies and surge in adoption of work-from-home culture increased the demand for geomarketing services.
The increase in adoption of location-based services by several sectors such as transportation, manufacturing, government agencies, energy, natural resources management, and e-retail due to Covid-19 restrictions boosted the growth of the market.
During the pandemic, people become more inclined toward e-commerce, and companies focused on accelerating digital transformation. This positively affected the growth of the market.

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Drilling Machine Market Set to Reach $28.76 Billion Forecast by 2025

The Drilling Machine Market accounted for $16.54 Billion in 2017, and is expected to reach $28.76 Billion by 2025, growing at a CAGR of 7.1% from 2018 to 2025. In 2017, Asia-Pacific dominated the global market, in terms of revenue, and is expected to grow faster compared to North America.

Top Companies

The major players, such as DATRON AG, DMG MORI, Dalian Machine Tool Group Corporation, SMTCL, Ernst Lenz Maschinenbau, Fehlmann AG, Cameron Micro Drill Presses, Gate Machinery International, Hsin Geeli Hardware Enterprise, and Alpen-Maykestag GmbH, are focused to strengthen their presence in the market.

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Drilling machine is used to enlarge or drill a cylindrical hole in a workpiece. It is composed of four major componentsthe head, table, column, and base. The motor is attached on the head and spindle is fixed within the quill, which is moved by either manual or automatic feed. The table is mounted on the column, and is used to support the workpiece. The cast iron base supports the entire structure. These machines are basically used for gun drilling, trepanning, BTA drilling, ejector drilling, counterboring, and pull boring.

The market for drilling machine market is primarily driven by increased demand for fabricated metal products and minimized labor cost. However, fluctuation in the prices of the raw materials majorly restricts the growth of the market.

The deep hole drilling machine segment secured the highest share in the drilling machine market in 2017. The multiple spindle drilling machine industry is expected to grow at a highest CAGR during the forecast period. In terms application industries, heavy equipment sector is expected to contribute the highest market share in the coming years, as this industry needs to displace heavy vehicle and material handling equipment parts. Moreover, increase in emphasis on military and defense sector is expected to provide lucrative growth opportunities to small players in the developing economies.

In 2017, Asia-Pacific registered the highest share in the drilling machine market, and is expected to continue this trend during the forecast period, owing to presence of the key manufacturing companies in the region.

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Foot Care Products Market has the potential to grow by $4.59 billion during 2021-2027,market’s growth momentum will accelerate at a CAGR of 7.10%

Foot Care Products Market Overview 2021- 2027

According to a new report published by Allied Market Research, titled, “Foot Care Products Market by Product, Application and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2027,” The global foot care products market size was valued at $2.92 billion in 2019, and is anticipated to reach $4.59 billion by 2027, with a CAGR of 7.10% during the forecast period from 2021 to 2027. Foot care products are largely used as over-the-counter skin nourishing cosmetic among people involved in outdoor & indoor activities. Foot care products help to recover skin from damage and infections, as these products consists of antioxidants, vitamins, and other soothing ingredients. The organic foot care products include ingredients such as essential oils.

Consumers are actively seeking for more advanced and multifunctional skin care solutions for their daily skin care routines. This has resulted in introduction of novel multifunctional foot care products in the market, which are assimilated with other cosmetic ingredients such as anti-aging elements, lotions with moisturizing properties, and tinting agents. Foot products in combination with targeted skincare are becoming popular among consumers.

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Foot care products market sights critical growth opportunity.

Manufacturers are focusing on key innovations that cater to the requirements of the large consumer base. Increase in awareness toward health benefits such as reduction in pain and increase in mobility & physical activity are expected to boost the demand for foot care products in emerging nations. Furthermore, increase has been witnessed in the number of netizens along with rise in internet penetration. Taking this into consideration, most of the key players in the foot care products market strategize on promoting their products on various social media platforms. Thus, through social media marketing strategy, the foot care products market sights critical growth opportunity.

According to the foot care products market analysis, the market is segmented into product, application, distribution channel, and region. Depending on product, the foot care products market is categorized into foot repair ointment, foot creams, foot cleansing lotions, slough scrub products, and others. The foot creams segment was the highest contributor to the market, with $889.89 million in 2019, and is estimated to reach $1,255.52 million by 2027, at a CAGR of 5.7% during the forecast period. This is attributed to the fact that foot creams are widely preferred by local consumers in the mass market. End users majorly procure foot creams products through a traditional supply chain, which significantly contributes toward the growth of the segment.

On the basis of application, the medical segment held a significant share of 42.79% in the global market in 2019. This is attributed to surge in disposable income and rise in awareness toward probable risks associated with foot problems.

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By distribution channel, the hospitals & specialty clinics segment dominated the market in 2019, accounting for 35.51% of the share, and is expected to retain its dominance throughout the foot care products market forecast period. This is attributed to the fact that consumers are preferring products from various offline distribution channel such as clinics stores and hospitals while treatment.

Region wise, Asia-Pacific was the prominent market in 2019, garnering maximum share, owing to the presence of huge consumer base and increase in population. SMEs operating in Asia and Europe are targeting online channels to increase their sales. These companies are further investing into various marketing and advertising activities to increase their product awareness. Surge in penetration of foot care products among people and increase in preference of organic/natural cosmetics are anticipated to fuel the foot care products market growth during the forecast period.

The key players profiled in this report include Johnson & Johnson, Del Laboratories, HoMedics, PediFix, Inc., Alva-Amco Pharmacal, Inc., Revlon, Aetna Foot Products, Blistex Inc., Glaxosmithkline Plc., and Miracle of Aloe. The key players provide current foot care products market trends, financial statement, and products development.

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Key findings of the study

The global foot care products market was valued at $2.92 billion in 2019, and is anticipated to reach $4.59 billion by 2027, with a CAGR of 7.10% during the forecast period.
By product, the foot creams segment held the highest share, accounting for 30.41% of the global foot care products market share.
On the basis of application, the medical segment held the highest share, accounting for 42.79% of the global market share.
Depending on distribution channel, the online stores segment is estimated to hold the highest CAGR of 8.10% in the global foot care products market.
In 2019, Asia-Pacific was the most prominent market, and is expected to grow at a significant CAGR throughout the forecast period.

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Zero-Emission Aircraft Market | Trends, Share, Growth Rate, Opportunities and Market Forecast 2030 to 2040

Allied Market Research published a report, titled, “Zero-Emission Aircraft Market by Source (Hydrogen, Electric, and Solar), Range (Short-Haul, Medium-Haul, and Long-Haul), Application (Passenger Aircraft and Cargo Aircraft) and Type (Turboprop Rear Bulkhead, Turbofan System, and Blended Wing Body): Global Opportunity Analysis and Industry Forecast, 2030–2040.” According to the report, the global zero-emission aircraft industry is estimated at $29.24 billion in 2030, and is anticipated to hit $191.97 billion by 2040, registering a CAGR of 20.7% from 2030 to 2040.

Drivers, restraints, and opportunities-

Surge in air passenger traffic and reduced GHG emissions across the globe drive the growth of the global zero-emission aircraft market. On the other hand, technological challenges and high costs associated with solar, electric, and hydrogen-powered aircrafts restrain the growth to some extent. However, proactive government initiatives toward zero-emission powered aircrafts and advancements in zero-emission aircraft technologies are expected to create multiple opportunities in the industry.

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COVID-19 scenario-

The outbreak of the pandemic gave way to a huge downfall in air traffic figures, thereby impacting the global zero-emission aircraft market negatively. The manufacturing facilities of the aircrafts were also hampered severely.
However, recently, in May 2021, the International Air Transport Association (IATA) stated that the global air passenger traffic is projected to recuperate to almost 88% of pre-COVID-19 levels by 2022.
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The hydrogen segment to dominate by 2040-

Based on systems, the hydrogen segment is expected to account for nearly 94% of the global zero-emission aircraft market share in 2030, and is expected to lead the trail by the end of 2040. This is attributed to its high suitability as the aviation fuel. The solar segment, on the other hand, would register the fastest CAGR of 29.3% throughout the forecast period, due to wide availability of solar energy throughout the world.

The passenger aircraft segment to maintain the dominant share-

Based on installation type, the passenger aircraft segment is projected to hold nearly 92% of the global zero-emission aircraft market revenue in 2030, and is anticipated to rule the roost by 2040. Passenger aircrafts represent a high number of aircrafts globally, and their zero-emission counterparts are expected to help bring down GHG emissions to a significant extent. This factor drives the growth of the segment. However, the cargo aircraft segment would cite the fastest CAGR of 25.6% from 2030 to 2040. Simple design of cargo aircrafts fuels the segment growth.

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Europe, followed by North America, will garnered the highest share in 2030-

Based on region, Europe, followed by North America, is expected to contribute to more than half of the global zero-emission aircraft market, and would continue the lion’s share by 2040, owing to high investment and adoption of strict emission norms in this province. However, the market across Asia-Pacific would manifest the fastest CAGR of 23.3% during the forecast period, due to rise in air-traffic in the region.

Key players in the industry-

Airbus S.A.S.
AeroDelft
Eviation Aircraft
Bye Aerospace
Joby Aviation
Lilium
Pipistrel d.o.o
Wright Electric
HES Energy Systems
ZeroAvia, Inc.

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Similar Reports We Have on Aerospace Industry:

Hydrogen-Powered Yacht Market by Technology (Coal Gasification and Steam Methane Reforming), by Application (Methanol Production, Ammonia Production and Petroleum Refining) and by System (Merchant and Captive): Global Opportunity Analysis and Industry Forecast, 2021–2027.

Unmanned Aircraft Systems (UAS) Market by Size (Very Small UAS, Small UAS, Mini UAS, and Large UAS), Range (Close Range, Short Range, and High Range), Energy Source (Traditional Airplane Fuel, Battery Cells, and Fuel Cells), Type (Fixed Wing and Rotary Wing), and End User (Civil, Military, and Commercial): Global Opportunity Analysis and Industry Forecast, 2020-2027.

About Us

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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More Electric Aircraft Market: Airframe Systems to Garner at 16.8% CAGR During 2020 to 2027

Allied Market Research published a report, titled, “More Electric Aircraft Market by Aircraft System (Propulsion System and Airframe System), Application (Power Generation, Power Distribution, Power Conversion, and Energy Storage), and Aircraft Type (Fixed-wing and Rotary-wing), and End User (Civil and Military): Global Opportunity Analysis and Industry Forecast, 2020–2027.” According to the report, the global more electric aircraft industry generated $1.80 billion in 2019, and is expected to reach $4.61 billion by 2027, witnessing a CAGR of 15.5% from 2020 to 2027.

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Prime determinants of growth

Rise in demand for high-performance fuel-efficient and less polluting aircraft and demand for aircraft with low operational and maintenance costs drive the growth of the global more electric aircraft market. However, high capital requirements and reliability of aircraft electrical systems hinder the market growth. On the other hand, advancements in battery solutions and electronic components and development of alternative power sources create new opportunities in the coming years.

Covid-19 Scenario

The governments enforced lockdown in many countries, which led to stoppage of manufacturing facilities and shortage of raw materials. So, the manufacturing activities of more electric aircraft were partially or completely shut down.
The air traffic reduced due to ban on international travel and import and export activities. This led to reduced demand for more electric aircraft.
In addition, there were delays in new initiatives regarding development of innovative more electric aircraft solutions.
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The propulsion systems segment to maintain its leadership status during the forecast period

Based on aircraft system, the propulsion systems segment contributed to the highest market share in 2019, holding nearly three-fifths of the global more electric aircraft market, and is projected to maintain its leadership status during the forecast period. This is due to increase in demand for low fuel emission aircraft. However, the airframe systems segment is projected to register the fastest CAGR of 16.8% from 2020 to 2027, owing to the trend of modification and modernization of the airframe system to enhance the performance of the aircraft.

The power distribution segment to maintain its lead position during the forecast period

Based on application, the power distribution segment accounted for the highest share in 2019, contributing to nearly half of the global more electric aircraft market, and will maintain its lead position during the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 16.3% from 2020 to 2027. This is attributed to rise in the adoption of more electric aircraft technology that led to movement toward electrical components from the conventional mechanical systems to lower down heavy wiring and raise the optimization of the aircraft performance. The research also analyzes the segments including power generation, power conversion, and energy storage.

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Europe, followed by North America, to maintain its dominance in terms of revenue by 2027

Based on region, Europe, followed by North America, held the highest share in terms of revenue in 2019, accounting for more than two-fifths of the global more electric aircraft market, and will maintain its dominance in terms of revenue by 2027. This is attributed to aligning of the workforce by many European countries to design and create more electric aircraft technologies for the European aviation industry. However, Asia-Pacific is expected to manifest the highest CAGR of 17.2% during the forecast period, owing to rapidly growing air traffic in the region.

Leading market players

AMETEK, Inc.
BAE Systems PLC
Bombardier Inc.
Elbit Systems Ltd.
GE Aviation
Honeywell International Inc.
Raytheon Technologies Corporation
Rolls-Royce Holdings PLC
Safran
Thales Group

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Similar Reports We Have on Electric Vehicles Industry:

Autonomous Aircraft Market by Component (Radars &Transponders, Propulsion Systems, Cameras, Sensors, Actuation System, Air Data Inertial Reference Units, Flight Management Computers, Software and Others), Technology (Fully Autonomous and Increasingly Autonomous), End Use (Passenger Air Vehicle, Personal Air Vehicle, Combat & Intelligence, Surveillance, and Reconnaissance (ISR), Air Medical Services, Cargo & Delivery Aircraft and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.

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