When discussing the future of aviation, terms like electric aircraft market and more electric aircraft market often come up, and though they sound similar, they refer to distinct but interconnected trends.

The more electric aircraft market refers to traditional aircraft that are becoming increasingly “electric” by replacing conventional mechanical or hydraulic systems with electric ones — think electric actuators, power distribution, and sophisticated energy management systems. MRFR’s report on the More Electric Aircraft Market (a separate MRFR study) estimates that this market was USD 5.742 billion in 2024 and is expected to grow to USD 22.11 billion by 2035, at a CAGR of 13.04%.

On the other hand, the electric aircraft market (MRFR Report ID 6109) represents a broader transformation where aircraft propulsion is partially or entirely electric. These aircraft may be hybrid-electric (combining a conventional engine with an electric motor) or fully electric (powered by batteries, fuel cells or solar energy). In this market, MRFR estimates a base value of USD 19.62 billion in 2024, escalating to USD 94.82 billion by 2035, reflecting a CAGR of 15.4%.

Why do both markets matter? Because they represent different layers of innovation and opportunity in aviation:

1. Efficiency and Reliability (More Electric Aircraft): By electrifying subsystems like avionics, actuators, and power generation, aircraft manufacturers can reduce weight, improve energy efficiency, and lower maintenance costs. More electric aircraft are incremental but foundational — they help existing aircraft fleets become greener, even if they are not fully electric.

2. Emission Reduction and Sustainability (Electric Aircraft): Fully electric or hybrid aircraft address the biggest climate challenge in aviation — propulsion. With advances in battery technology, electric motors, and regenerative energy systems, these aircraft offer the potential for near-zero emissions, especially on short- to medium-haul routes.

3. Business Models and Market Opportunity: The more electric aircraft market is attractive to OEMs, system suppliers, and electric system integrators. Meanwhile, the electric aircraft market opens up new business models like electric air taxis, regional electric planes, and specialized cargo aircraft. According to MRFR, growing environmental awareness, regulatory pressure, and technological maturation are the core drivers fueling the electric aircraft market.

4. Regional Dynamics: Both markets have strong regional narratives. For electric aircraft, MRFR points out that North America leads today, but Asia-Pacific is emerging fastest, driven by infrastructure buildup and growing domestic aviation. For the more electric aircraft market, the push is global, but cost-sensitive regions may favor retrofitting existing fleets.

For stakeholders — OEMs, airlines, battery makers, regulators — understanding both markets is crucial. Investing in the more electric aircraft market can yield near-term efficiency gains, while also preparing for the long-term transformation toward fully electric aviation. Meanwhile, focusing on the electric aircraft market offers the possibility of creating entirely new revenue streams.

In conclusion, while both are part of aviation’s electrification journey, the More Electric Aircraft Market is about evolution; the Electric Aircraft Market is about revolution. Together, they are propelling aerospace into a greener, smarter future.