PUNE, India, November 24, 2016 /PRNewswire/ -- The report "More Electric Aircraft Market by Technology (Power Electronics, Thermal Management, Energy Storage & Others), Application (Power Generation, Passenger Comfort, Air Pressurization & Others) Platform (Fixed Wing, Rotary Wing), and Region - Global Forecast to 2021", published by MarketsandMarkets, the more market is projected to grow from USD 7.68 Billion in 2016 to USD 10.94 Billion by 2021, at a CAGR of 7.33% from 2016 to 2021. (Logo: http://photos.prnewswire.com/prnh/20160303/792302 ) Browse 72 market data Tables and 60 Figures spread through 142 Pages and in-depth TOC on"More Electric Aircraft Market"http://www.marketsandmarkets.com/Market-Reports/more-electric-aircraft-market-138024896.htmlEarly buyers will receive 10% customization on this report. Decrease in aircraft operating and maintenance cost, reduction in carbon emission and airport noise, and the need for optimized aircraft performance are the major factors driving the more electric aircraft market. The use of electric power in airframe systems saves fuel and helps in cost reduction. The more electric aircraft architecture also helps in reducing maintenance costs as it requires fewer moving or non-moving parts, as compared to the conventional aircraft systems. These factors have led to the manufacturing of aircraft engines and architecture with improved electric components. Power electronics segment projected to lead the more electric aircraft market during the forecast period Based on technology, the power electronics segment is expected to account for the largest market share during the forecast period. The more electric aircraft uses electrical energy instead of hydraulic, pneumatic, and mechanical means to power virtually all its subsystems, including flight control actuation, environmental control system, and utility function. Power electronics help improve both the generator's (mechanical to electric) and actuator's (electric to mechanical) energy conversions and also enable better energy regeneration. Power electronics also helps in reducing weight, is easier to maintain, and provides more controllability and intelligence which includes fault detection and diagnosis.