The electric revolution is underway in the transportation sector, and the aviation industry is poised to embrace fundamental disruption. Moving to electric aircraft brings undeniable benefits in terms of environmental impact, cost savings, maintenance, noise pollution, and safety. Nevertheless, several technical challenges are yet to be overcome to build electric airplanes that meet public needs while gaining acceptance and trust. From urban air mobility to long-haul flight applications, hundreds of projects are under research to push toward more electrification. At the heart of each aircraft architecture, power electronics plays a crucial role in the new era of transportation. This article aims to provide a comprehensive analysis of state-of-the-art power electronics in electric aircraft. A review of the current status of aircraft electrification will be provided, and technology surveys of power electronic converters will be detailed. Challenges for forthcoming power electronics in response to the future trends of the electrical network will be explained. Finally, emerging technologies regarding wide bandgap devices, advanced topologies and control, thermal management, passive components, and system integration will be discussed.