Because of the advancement of electric propulsion systems and the adoption of battery-powered electric propulsion systems in the aerospace sector, the global electric aircraft market is likely to expand at a stable rate during the forecast period.
Furthermore, technical evolutions such as the move from gas turbines to turbo-electric propulsion and the transition from hydraulic landing gear to electric landing gear are likely to generate further potential prospects in the worldwide electric aircraft market.
Increased environmental concerns, increased awareness of safety issues, and increased investments in research and development activities in the aerospace industry, combined with lower maintenance costs, are some of the factors that are likely to positively affect the global electric aircraft market and thus drive the market's growth trajectories during the forecast period.
The usage of electric power aids in cost reduction by lowering gasoline use. All of these elements are likely to improve the performance of the aviation sector, resulting in the expansion of the electric aircraft market. Furthermore, the expansion of commercial and military aviation bases in both developed and emerging nations is likely to drive the worldwide electric aircraft market.
However, the presence of some restraining factors such as lower power to weight ratio of batteries, non-feasibility of costs, lack of technological know-how to repair the batteries in case of damage, and the inability of electric aircraft to travel only shorter distances are expected to impede the global electric aircraft market growth during the forecast period.