The electric aircraft market is rapidly gaining momentum as the aviation industry shifts toward environmentally friendly and energy-efficient solutions. MRFR reports that the market was valued at USD 19.62 billion in 2024 and is projected to reach USD 94.82 billion by 2035, growing at a CAGR of 15.4% during 2025–2035. This surge reflects the growing need to reduce carbon emissions, lower fuel consumption, and address regulatory pressures on traditional aircraft while supporting new urban air mobility initiatives.

A major factor driving the electric aircraft market is the adoption of advanced propulsion systems, high-efficiency batteries, and lightweight airframe materials. These technologies enhance flight performance, reduce operational costs, and increase energy efficiency. MRFR highlights applications such as passenger transport, cargo delivery, and short-haul flights as key contributors to demand. Electric aircraft also offer quieter operation and lower maintenance requirements, making them increasingly attractive to commercial operators seeking sustainable alternatives.

The Aircraft Electrical Systems Market plays a critical role in enabling this growth. Electric aircraft depend heavily on robust electrical systems for propulsion, navigation, energy management, and control. MRFR notes that advances in battery management, power electronics, and energy storage are crucial for extending flight range, improving safety, and supporting hybrid-electric aircraft development. As innovations continue, the synergy between electric propulsion and advanced electrical systems is expected to propel the market forward significantly.

Regionally, North America and Europe dominate the electric aircraft market, thanks to strong R&D capabilities, favorable policies, and well-established aviation infrastructure. Meanwhile, Asia-Pacific is poised to become the fastest-growing market due to rising urban air mobility initiatives, investments in electric propulsion, and an increasing short-haul aviation fleet. Leading players such as Airbus, Boeing, magniX, Pipistrel, and Joby Aviation are driving innovation in aircraft electrical systems, battery efficiency, and autonomous flight technologies, cementing the future of electric aviation worldwide.