Power electronics are crucial for the electrification of aviation. Increased performance requirements in this application area also affect the design of power electronic components. In combination with the application-specific challenges prevalent in aviation, such as altitude-dependent influences and EMC requirements, this necessitates exploring the design space with a new perspective. Design approaches previously considered unsuitable for other application areas can now provide solutions that excel in key performance indicators, such as efficiency, power density, and reliability. In this context, this paper discusses the power electronics design space and different degrees of innovation at different design levels.