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Aircraft Electrification Market Size -By Component(Batteries, Fuel Cells, Solar Cells, Electric Actuators, Electric Pumps, Generators, Motors, Power Electronics, Distribution Devices), by Technology(More Electric, Hybrid Electric, Fully Electric), by Application(Power Generation, Power Distribution, Power Conversion, Energy Storage), by Platform(Commercial Aviation, Military Aviation, Business & General Aviation, AAM, Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles (UAVs), Advanced Air Mobility), by System(Propulsion System, Environmental Control System, Landing Gear System, Ice Protection System, Flight Control System, Thrust Reverser System) & Region - Forecasts 2023 - 2033

  • PUBLISHED ON
  • 1970-01-01
  • NO OF PAGES
  • 241
  • CATEGORY
  • Aerospace & Defense

 

Global Aircraft Electrification Market Analysis by Component, Technology, Application, System, Region and segments forecast till 2033

 

Market Overview

The global aircraft electrification market is estimated to be USD 6,000 million in 2022 and is projected to reach USD 20,000 million by 2033, at a CAGR of 14.3%.

 

Report Scope

Report Attributes

Description

Market Forecast in 2022

USD 6,000 Million

Market Forecast in 2033

USD 20,000 Million

CAGR % 2023-2033

14.3%

Base Year

2022

Historic Data

2020-2021

Forecast Period

2023-2033

Report USP

Product, end-user industry, company share, company heatmap, company Capacity Technology Product capacity, growth factors and more

Key Companies

Honeywell International Inc., Safran, Thales Group,Raytheon Technologies , Ampaire, GE Aviation, Zunum Aero, Bye Aerospace, Nabtesco Corporation, Hartzell Engine Technologies LLC, PBS AEROSPACE, EaglePicher Technologies, Eviation, Electroflight, Radiant Power Corporation, Meggitt PLC, Equator Aircraft, H3X Technologies, MagniX, AMETEK Inc., Joby Aviation, Rolls-Royce, Pipistrel, BAE System, Beta Technologies, Heart Aerospace, Airbus, Siemens, Hartzell Engine Technologies LLC, PBS AEROSPACE, EaglePicher Technologies, Nabtesco Corporation, Wright Electric, ZeroAvia and Others. 

 

Global Aircraft Electrification market- Description

An electric aircraft is powered by electric motors driven by plunge producing propellers. It has distributed prod system. Electricity can be endowed to aircraft through batteries, fuel cells, solar cells, ground power cables, and others. The first artificial intelligence electric aircraft flew for just 14 minutes in 1973. Since then mass researches have been reckoned in this sector and experts are considering electric planes as the future of aviation.

The global aircraft electrification market is expected to spectate significant growth in the coming years, due to increase in need to reduce carbon emissions and control environmental pollution. Augment in initiatives to lower dependency on oil is likely to boost the demand for aircraft electrification.  Electrification has silently and slowly permeated the aircraft industry. Hydraulic and pneumatic systems are gradually transitioning to electric-based systems, authorising the creation of aircraft that are more efficient and, therefore, easier to maintain.  Moreover, coupled with a strong push to lower carbon emissions, is permitting hybrid-electric aircraft to take flight.

With a surge in the number of global aircraft fleet size and air travel, pollution levels are projected to rise even higher. Hence, there is a command for electric aircraft, which will help lessen the carbon footprint. Organizations and governing bodies such as the International Civil Aviation Organization, the European Union Aviation Safety Agency and the Federal Aviation Administration, have roared for sustainable substitutes of aircraft fuel as they estimate that aircraft-generated emissions are expected to witness a three-fold increase in volume. In aircraft electrification, producers aim to improvise efficiency by replacing hydraulically controlled systems with electric systems.

The wave of electrification in the aircraft industry is generating opportunities to widen technology, increase mobility in dense communities, and produce cleaner, more justifiable modes of transportation. Simultaneously, this wave raises safety, cost concerns and reliability at all stages that cannot be ignored. If we hope to one-day commute on air taxis from city to city or notably reduce our carbon footprint when we travel long distances by plane, we would need rigorous testing for that.

 

Key Trends of Global Aircraft Electrification Market:

·         Concerns over environmental pollution:

 There is abundance of evidences that show aircraft emissions cause pollution. The European Union states that direct emissions from aviation account for around 3% of the EU’s total greenhouse gas emissions, and more than 2% of global emissions.

Reports show that if present technology is not advanced, then CO2 output from aircraft will likely heightened by more than two times. Therefore, global aircraft electrification is expected to grow in near future.

 

·         Low operational cost:

An electric aircraft can have a 90% less fuel cost and 50% less cost on maintenance in comparison to fossil fuel aircraft. For instance, the Pipistrel Alpha Electro is an ultra-light electric aircraft, which can carry up to 2 passengers and can cover almost 160 km on an hour’s charge. The expenditure of electricity per hour of flight is approximately between $4 to $6. Hence, low operation cost is expected to boost the demand for aircraft electrification.

 

Segmental Analysis of Global Aircraft Electrification Market:

Based on Component

·         Batteries

·         Power Electronics

·         Electric Pumps

·         Generators

·         Fuel Cells

·         Solar Cells

·         Electric Actuators

·         Motors

·         Distribution Devices

The battery segment is anticipated to lead the market during the forecast period. Lithium-sulphur is one of the battery technologies competing to supersede lithium-ion as the prime battery technology of the next generation. The ability of Li-S batteries to store and release energy offers an opportunity to create batteries that hold as much as five times more charge than lithium for a given size and weight of the cell.

 

Based on Technology

·         Fully Electric

·         More Electric

·         Hybrid Electric

The hybrid electric segment is projected to be the highest market for the aircraft electrification. Hybrid electric technology utilizes both airplane fuel as well as electricity to drive the propulsion system. This technology helps decrease fuel burn, emissions, energy consumption and noise for single-aisle passenger aircraft.

 

Based on Application

·         Power Generation

·         Energy Store

·         Power Distribution

·         Power Conservation

The power generation segment is permissible to grow at the highest CAGR rate for the aircraft electrification. In an aircraft, power is produced with the support of an integrated drive generator, a variable frequency generator, an external ground power unit and an auxiliary power unit,

 

Based on Platform

·         Fixed Wing

·         Advanced Air Mobility

·         Unmanned Aerial Vehicles

·         Rotary Wing

The business and general aviation segment is thought to grow at the highest CAGR rate for the aircraft electrification. The growth of the business & general aviation segment of the market is due to surge in corporate profits, rise in the number of high-net-worth individuals, and an increase in the replacement demand for existing business jets with new ones.

 

Based on System

·         Landing Gear System

·         Propulsion System

·         Environmental Control System

·         Flight Control System

·         Thrust Reverser System

The propulsion system segment is anticipated to grow at the highest CAGR rate for the aircraft electrification. Electrification of propulsion systems is predicted to boost the power for take-off, thereby creating an efficient electrical replacement for a traditional turbofan with a 2-megawatt liquid-cooled electric motor.

 

Global Aircraft Electrification Market: Regional Analysis

The global Aircraft Electrification market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America and Middle East and Africa. North America leads the aircraft electrification market amid the high demand for new aircraft in the region. The growing upcoming projects, and the emergence of several start-ups backing the electrification in the aviation industry are additional factors influencing the growth of the North American aircraft electrification market

 

Global Aircraft Electrification market- Impact of COVID-19

The COVID-19 pandemic has had a significant impact on the aviation industry, including the aircraft electrification market. The pandemic has led to a decrease in air travel, which has resulted in reduced demand for new aircraft and aircraft components, including electrification systems. However, despite the short-term impact of the pandemic, the long-term outlook for the aircraft electrification market remains positive. Prior to the pandemic, the aircraft electrification market was growing rapidly, driven by factors such as the increasing demand for more fuel-efficient aircraft, the need to reduce carbon emissions, and the development of advanced electric propulsion systems. These trends are expected to continue in the coming years, driving growth in the aircraft electrification market.

In response to the pandemic, many aircraft manufacturers and suppliers have shifted their focus to developing new technologies and products that can help to improve the safety and efficiency of air travel. This includes the development of new electrification systems, such as more efficient electric motors, advanced batteries, and power electronics, which can help to reduce the weight and improve the performance of aircraft.

 

Global Aircraft Electrification market- Recent Developments

·         In 2020, Honeywell International Inc. announced a new partnership with Vertical Aerospace to develop an electric vertical takeoff and landing (eVTOL) aircraft for use in urban air mobility applications.

·         In 2021, Rolls-Royce Holdings plc unveiled its new electric and hybrid-electric propulsion systems for use in commercial aircraft and regional air travel.

·         In 2022, Airbus SE announced plans to launch its first electric aircraft, the E-Fan X, for commercial use in the coming years.

 

Global Aircraft Electrification market: Key Companies

·         Honeywell International Inc.

·         Safran

·         Thales Group

·         Raytheon Technologies

·         Ampaire

·         GE Aviation

·         Zunum Aero

·         Bye Aerospace

·         Nabtesco Corporation

·         Hartzell Engine Technologies LLC

·         PBS AEROSPACE

·         EaglePicher Technologies

·         Eviation, Electroflight

·         Radiant Power Corporation

·         Meggitt PLC

·         Equator Aircraft

·         H3X Technologies

·         MagniX

·         AMETEK Inc.

·         Joby Aviation

·         Rolls-Royce

·         Pipistrel

·         BAE System

·         Beta Technologies

·         Heart Aerospace

·         Airbus

·         Siemens

·         Hartzell Engine Technologies LLC

·         PBS AEROSPACE

·         EaglePicher Technologies

·         Nabtesco Corporation

·         Wright Electric

·         ZeroAvia

·         Others

 

Global Aircraft Electrification market: Regional Scope   

North America

·         U.S.

·         Canada

·         Mexico

Europe

·         U.K.

·         Germany

·         France

·         Italy

·         Spain

·         Rest of Europe

Asia Pacific

·         China

·         India

·         Japan

·         South Korea

·         Australia

·         Rest of Asia Pacific

South America

·         Brazil

·         Argentina

·         Rest of South America

Middle East and Africa

·         Saudi Arabia

·         UAE

·         Egypt

·         South Africa

·         Rest of Middle East and Africa

 

Why to buy this Report?

Market research: The report provides valuable insights into market trends, growth opportunities, and competitive landscapes. By reading a technology report, businesses and investors can gain a better understanding of the market they are operating in or considering entering, and make more informed decisions based on data and analysis.

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Innovation: The report provides insights into emerging technologies and trends, which can help businesses stay up-to-date with the latest developments and make informed decisions about where to invest their resources.

Due diligence: The report can be used by investors and acquirers as part of their due diligence process when considering investing in or acquiring a technology company. These reports can provide valuable information on the company's financials, technology, market position, and other key factors.

1. Global Aircraft Electrification Market Introduction and Market Overview

1.1. Objective of the Market Research Study

1.2. Aircraft Electrification Market Definition & Description

1.3. Research Data Parameters & Reporting Timelines

1.3.1. Historical Data Reporting Years – 2020 to 2021

1.3.2. Projected Data Reporting Years – 2022 to 2033

1.3.3. Reporting Data Parameters – Value (US$ Million)

1.4. Global Aircraft Electrification Market Scope and Market Estimation

1.4.1. Global Aircraft Electrification Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)

1.4.2. Global Aircraft Electrification Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033

1.5. Aircraft Electrification Market Segmentation

1.5.1. Component of Global Aircraft Electrification Market

1.5.2. Technology of Global Aircraft Electrification Market

1.5.3. Application of Global Aircraft Electrification Market

1.5.4. Platform of Global Aircraft Electrification Market

1.5.5. System of Global Aircraft Electrification Market

1.5.6. Key Regions of Global Aircraft Electrification Market

 

2. Global Aircraft Electrification Market - Executive Summary

2.1. Global Aircraft Electrification Market – Summary & Snapshot

2.2. Global Aircraft Electrification Market, By Component (Us$ Million)

2.3. Global Aircraft Electrification Market, By Technology (Us$ Million)

2.4. Global Aircraft Electrification Market, By Application (Us$ Million)

2.5. Global Aircraft Electrification Market, Platform (Us$ Million)

2.6. Global Aircraft Electrification Market, System (Us$ Million)

2.7. Global Aircraft Electrification Market, By Geography (Us$ Million)

2.8. Global Aircraft Electrification Market Outlook & Future Opportunities

 

3. Aircraft Electrification Market Trends, Outlook, and Factors Analysis

3.1. Global Aircraft Electrification Market Industry Development Trends under COVID-19 Outbreak

3.1.1. Global COVID-19 Status Overview

3.1.2. Influence of COVID-19 Outbreak on Global Aircraft Electrification Market Industry Development

3.1.3. Pre & Post COVID-19 Trends and Scenarios

3.2. Aircraft Electrification Market Dynamics (Growth Impacting Factors & Rationales)

3.2.1. Drivers

3.2.1.1. There is a growing need for cleaner and quiet airplanes.

3.2.1.2. Increasing high demand for new aircraft

3.2.1.3. Low-cost operations of aircraft

3.2.2. Restraints

3.2.2.1. Low density of batteries.

3.2.3. Opportunities

3.2.3.1. Alternative energy sources for electric power generation are becoming more prevalent.

3.2.4. Impact Analysis of Drivers and Restraints

3.3. Ecosystem/ Value Chain Analysis

3.4. Porter’s Five Forces Analysis

3.5. SWOT Analysis

3.6. PEST Analysis

3.7. Average Selling Prices and Pricing Trends Analysis of Aircraft Electrification Market

3.8. Technological Roadmap

3.9. Key Investment Pockets of Aircraft Electrification Market

3.9.1. By Component

3.9.2. By Technology

3.9.3. By Application

3.9.4. By Platform

3.9.5. By System

3.9.6. By Regions

 

4. Global Aircraft Electrification Market: Estimates & Historic Trend Analysis (2020 to 2021)

4.1. Global Aircraft Electrification Market, 2020 – 2021 (Us$ Million)

4.2. Global Aircraft Electrification Market, By Component, 2020 To 2021 (Us$ Million)

4.3. Global Aircraft Electrification Market, By Technology, 2020 To 2021 (Us$ Million)

4.4. Global Aircraft Electrification Market, By Application, 2020 To 2021 (Us$ Million)

4.5. Global Aircraft Electrification Market, By Platform, 2020 To 2021 (Us$ Million)

4.6. Global Aircraft Electrification Market, By System, 2020 To 2021 (Us$ Million)

4.7. Global Aircraft Electrification Market, By Region, 2020 To 2021 (Us$ Million)

 

5. Global Aircraft Electrification Market Estimates & Forecast Trend Analysis, by Component

5.1. Global Aircraft Electrification Market Share (%) Estimates and Forecasts, by Component, 2022 & 2033

5.2. Global Aircraft Electrification Market Revenue (US$ Million) Estimates and Forecasts, by Component, 2022 to 2033

5.2.1. Batteries

5.2.2. Fuel Cells

5.2.3. Solar Cells

5.2.4. Electric Actuators

5.2.5. Electric Pumps

5.2.6. Generators

5.2.7. Motors

5.2.8. Power Electronics

5.2.9. Distribution Devices

 

6. Global Aircraft Electrification Market Estimates & Forecast Trend Analysis, by Technology

6.1. Global Aircraft Electrification Market Share (%) Estimates and Forecasts, By Technology, 2022 & 2033

6.2. Global Aircraft Electrification Market Revenue (US$ Million) Estimates and Forecasts, by Technology, 2022 to 2033

6.2.1. More Electric

6.2.2. Hybrid Electric

6.2.3. Fully Electric

 

7. Global Aircraft Electrification Market Estimates & Forecast Trend Analysis, by Application

7.1. Global Aircraft Electrification Market Share (%) Estimates and Forecasts, By Application, 2022 & 2033

7.2. Global Aircraft Electrification Market Revenue (US$ Million) Estimates and Forecasts, by Application, 2022 to 2033

7.2.1. Power Generation

7.2.2. Power Distribution

7.2.3. Power Conversion

7.2.4. Energy Storage

 

8. Global Aircraft Electrification Market Estimates & Forecast Trend Analysis, by Platform

8.1. Global Aircraft Electrification Market Share (%) Estimates and Forecasts, By Platform, 2022 & 2033

8.2. Global Aircraft Electrification Market Revenue (US$ Million) Estimates and Forecasts, by Platform, 2022 to 2033

8.2.1. Commercial Aviation

8.2.2. Military Aviation

8.2.3. Business & General Aviation

8.2.4. AAM

8.2.5. Fixed Wing

8.2.6. Rotary Wing

8.2.7. Unmanned Aerial Vehicles (UAVs)

8.2.8. Advanced Air Mobility

 

9. Global Aircraft Electrification Market Estimates & Forecast Trend Analysis, by System

9.1. Global Aircraft Electrification Market Share (%) Estimates and Forecasts, By System, 2022 & 2033

9.2. Global Aircraft Electrification Market Revenue (US$ Million) Estimates and Forecasts, by System, 2022 to 2033

9.2.1. Propulsion System

9.2.2. Environmental Control System

9.2.3. Landing Gear System

9.2.4. Ice Protection System

9.2.5. Flight Control System

9.2.6. Thrust Reverser System

 

10. Global Aircraft Electrification Market Analysis and Forecast, by Region

10.1. Global Aircraft Electrification Market Share (%) Estimates and Forecasts, By Region, 2022 & 2033

10.2. Global Aircraft Electrification Market Revenue (US$ Million) Estimates and Forecasts, By Region, 2022 To 2033

10.2.1. North America

10.2.2. Europe

10.2.3. Asia Pacific

10.2.4. Middle East and Africa

10.2.5. Latin America

 

11. North America Aircraft Electrification Market: Estimates & Forecast Trend Analysis

11.1. North America Aircraft Electrification Market Assessments & Key Findings

11.2. North America Aircraft Electrification Market Share (%) Estimates and Forecasts, 2022 & 2033

11.3. North America Aircraft Electrification Market Size Estimates and Forecast (US$ Million) (2022 To 2033)

11.3.1. By Component

11.3.2. By Technology

11.3.3. By Application

11.3.4. By Platform

11.3.5. By System

11.3.6. By Major Country

11.3.6.1. The U.S.

11.3.6.2. Canada

 

12. Europe Aircraft Electrification Market: Estimates & Forecast Trend Analysis

12.1. Europe Aircraft Electrification Market Assessments & Key Findings

12.2. Europe Aircraft Electrification Market Share (%) Estimates and Forecasts, 2022 & 2033

12.3. Europe Aircraft Electrification Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

12.3.1. By Component

12.3.2. By Technology

12.3.3. By Application

12.3.4. By Platform

12.3.5. By System

12.3.6. By Major Country

12.3.6.1. Germany

12.3.6.2. The U.K.

12.3.6.3. France

12.3.6.4. Italy

12.3.6.5. Spain

12.3.6.6. Rest of Europe (includes all other European countries)

 

13. Asia Pacific Aircraft Electrification Market: Estimates & Forecast Trend Analysis

13.1. Asia Pacific Aircraft Electrification Market Assessments & Key Findings

13.2. Asia Pacific Aircraft Electrification Market Share (%) Estimates and Forecasts, 2022 & 2033

13.3. Asia Pacific Aircraft Electrification Market Size Estimates and Forecast (US$ Million) (2022 To 2033)

13.3.1. By Component

13.3.2. By Technology

13.3.3. By Application

13.3.4. By Platform

13.3.5. By System

13.3.6. By Major Country

13.3.6.1. China

13.3.6.2. Japan

13.3.6.3. India

13.3.6.4. ASEAN

13.3.6.5. South Korea

13.3.6.6. Rest of Asia Pacific (includes all other Asia Pacific countries)

 

14. Middle East & Africa Aircraft Electrification Market: Estimates & Forecast Trend Analysis

14.1. Middle East & Africa Aircraft Electrification Market Assessments & Key Findings

14.2. Middle East & Africa Aircraft Electrification Market Share (%) Estimates and Forecasts, 2022 & 2033

14.3. Middle East & Africa Aircraft Electrification Market Size Estimates and Forecast (US$ Million) (2022 To 2033)

14.3.1. By Component

14.3.2. By Technology

14.3.3. By Application

14.3.4. By Platform

14.3.5. By System

14.3.6. By Major Country

14.3.6.1. GCC

14.3.6.2. South Africa

14.3.6.3. Egypt

14.3.6.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)

 

15. Latin America Aircraft Electrification Market: Estimates & Forecast Trend Analysis

15.1. Latin America Market Assessments & Key Findings

15.2. Latin America Aircraft Electrification Market Share (%) Estimates and Forecasts, 2022 & 2033

15.3. Latin America Aircraft Electrification Market Size Estimates and Forecast (US$ Million) (2022 to 2033)

15.3.1. By Component

15.3.2. By Technology

15.3.3. By Application

15.3.4. By Platform

15.3.5. By System

15.3.6. By Major Country

15.3.6.1. Brazil

15.3.6.2. Mexico

15.3.6.3. Rest of Latin America (includes all other Latin America countries)

 

16. Competitive Landscape

16.1. Aircraft Electrification Market Revenue Share Analysis (%), By Major Players (2021)

16.2. Aircraft Electrification Market Competition Matrix, By Leading Players

16.3. Aircraft Electrification List of Emerging, Prominent and Leading Players

16.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, Etc.

 

17. Company Profiles

17.1. Honeywell International Inc.

17.1.1. Company Overview & Insights

17.1.2. Financial Performance

17.1.3. Product / Service Portfolio

17.1.4. Geographical Footprint & Share

17.1.5. Strategic Initiatives & Key Developments

*Similar details would be provided for all the players mentioned below

17.2. Safran

17.3. Ampaire

17.4. Thales Group

17.5. Raytheon Technologies

17.6. GE Aviation

17.7. Zunum Aero

17.8. Bye Aerospace

17.9. Eviation

17.10. Electroflight

17.11. Radiant Power Corporation

17.12. Meggitt PLC

17.13. Equator Aircraft

17.14. H3X Technologies

17.15. MagniX

17.16. AMETEK Inc.

17.17. Joby Aviation

17.18. Rolls-Royce

17.19. Pipistrel

17.20. BAE Systems

17.21. Beta Technologies

17.22. Heart Aerospace

17.23. Airbus

17.24. Siemens

17.25. Hartzell Engine Technologies LLC

17.26. PBS AEROSPACE

17.27. EaglePicher Technologies

17.28. Nabtesco Corporation

17.29. Wright Electric

17.30. ZeroAvia

17.31. Others

 

18. Assumptions and Research Methodology

18.1. Data Mining

18.2. Secondary Research

18.3. Primary Research

18.4. Subject Matter Expert Advice

18.5. Quality Check

18.6. Final Review

18.7. Data Triangulation

18.8. Bottom-Up Approach

18.9. Top-Down Approach

18.10. Research Flow

18.11. Key Insights from Industry Experts

18.12. Data Sources

18.13. Assumptions

18.14. Limitations

 

19. Conclusions and Recommendations

19.1. Key Research Findings and Conclusion

19.2. Key Insights & Recommendations from Analysts

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We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




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To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
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  • Assign a senior SR executive as QA Executive
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Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.


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