The electric aircraft market is projected to witness strong growth as the aviation sector increasingly focuses on sustainability and operational efficiency. MRFR reports that the market was valued at USD 19.62 billion in 2024 and is expected to reach USD 94.82 billion by 2035, with a CAGR of 15.4% over the forecast period. This growth is supported by rising environmental awareness, fuel cost volatility, and increasing adoption of electric propulsion systems in short-haul and urban air mobility operations.

Advancements in propulsion systems and lightweight materials are driving the electric aircraft market. Electric motors, efficient battery technologies, and optimized airframe designs are improving aircraft performance, reducing fuel consumption, and lowering maintenance costs. MRFR highlights that passenger transport, cargo delivery, and urban air taxis are among the fastest-growing application areas. With AI-enabled flight management and autonomous capabilities, electric aircraft are expected to become a cornerstone of sustainable and efficient aviation solutions.

The Aircraft Electrical Systems Market is integral to electric aircraft adoption. These systems handle propulsion, avionics, energy storage, and flight control operations, making them essential for operational reliability and safety. MRFR notes that innovations in power electronics, battery management systems, and energy storage solutions are enabling longer flight ranges and more efficient energy utilization. Such technological developments are driving the evolution of hybrid-electric and fully electric aircraft platforms, allowing airlines and manufacturers to meet environmental regulations while optimizing performance.

Regionally, North America and Europe lead the electric aircraft market, driven by strong technological capabilities, regulatory support, and infrastructure readiness. Asia-Pacific is expected to emerge as the fastest-growing market, fueled by government initiatives, urban air mobility programs, and increased investment in electric propulsion systems. Leading players such as Airbus, Boeing, magniX, Pipistrel, and Joby Aviation are advancing aircraft electrical systems, battery technologies, and autonomous operations, making the electric aircraft market a critical focus for the future of sustainable aviation.