Delray Beach, Fla. – September 18, 2026 -- The global more electric aircraft market is set to grow from USD 5.95 billion in 2026 to USD 8.66 billion by 2031, expanding at a compound annual growth rate of 7.8%, according to a new report by MarketsandMarkets.
Rotary-wing platforms outpace fixed-wing growth despite smaller base
Rotary-wing aircraft are projected to post the highest CAGR of 13.3% through 2031, even as fixed-wing aircraft retain the largest overall market share on the back of strong order backlogs and production activity for narrow-body and wide-body programs. Aircraft systems will account for 70.1% of the market by system in 2026, while engines are expected to grow fastest among components at a 10.4% CAGR.
Civil aviation and Middle East & Africa lead demand shifts
Civil aviation is projected to hold the largest end-user share as airlines pursue fleet renewal and manufacturers ramp up production of new commercial platforms with higher electrical content. Regionally, the Middle East & Africa is expected to record the highest CAGR at 9.9%, while Asia Pacific gains traction through expanding airline fleets, rising aircraft procurement, and growing domestic aerospace manufacturing in China, India, Japan, South Korea, and Australia.
Manufacturers are increasing adoption of electric actuation, high-voltage electrical architectures, and intelligent power distribution systems to cut aircraft weight, reduce maintenance costs, and improve fuel efficiency, replacing conventional hydraulic and pneumatic functions. Rising onboard electrical loads from avionics, cabin systems, and mission equipment are also driving demand for power generation and conversion equipment.
Major aerospace suppliers compete across electrical power and actuation segments
Key players named in the report include Safran SA, Honeywell Aerospace, RTX Corporation, GE Aerospace, Parker Hannifin Corporation, BAE Systems, Liebherr-International Deutschland GmbH, AMETEK Inc., Nabtesco Corporation, Moog Inc., Astronics Corporation, Eaton, Thales, Curtiss-Wright Corporation, and Crane Aerospace & Electronics. The competitive landscape spans diversified aerospace groups alongside specialist suppliers of electrical power, actuation, and aircraft component technologies.
Military aviation remains a supporting segment, driven by fighter aircraft procurement, transport aircraft modernization, and rising electrical power requirements for avionics, sensors, and mission systems.