The aircraft electric motor market size is expected to see strong growth in the next few years. It will grow to $12.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to green aviation initiatives, government incentives, sustainability goals, sustainability initiatives, urban air mobility. Major trends in the forecast period include electrification of aircraft, lightweight motors, advanced materials, electric propulsion systems, battery technology advancements.
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Segmentation & Regional Insights
The aircraft electric motor market covered in this report is segmented –
1) By Type: AC Motor, DC Motor
2) By Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles, Advanced Air Mobility
3) By Torque: Up to 1 Nm, 1-50 Nm, 50-200 Nm, Above 200 Nm
4) By Output Power: Up to 10 kW, 10-200 kW, Above 200 kW
5) By Application: Propulsion System, Flight Control System, Environmental Control System, Engine Control System, Avionics System, Door Actuation System, Landing and Braking System, Cabin Interior System, Other Applications
North America was the largest region in the aircraft electric motor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the aircraft electric motor market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Expansion of the aviation industry is expected to propel the growth of the aircraft electric motor market going forward. The aviation industry includes virtually all facets of air transport as well as the activities that support it. It covers the entire airline sector as well as the manufacture of aircraft, research organizations, military aviation, and much more. Electric aircraft are being used in the aviation industry. These aircraft served as test beds for years with minimal payload and scant range. The number of electric aircraft projects has skyrocketed recently, and commercial electric flights seem to be just around the corner. Therefore, the expansion of the aviation industry would also expand the electric aircraft which would lead to an increase in the demand for aircraft electric motors. For instance, in 2022, according to Air Transport Action Group (ATAG), a Switzerland-based coalition of aviation industry experts focusing on sustainable development issues, over the next 20 years the demand for air travel is anticipated to grow by an average of 3% year and by 2038 the aviation sector would support 13.7 million direct jobs and $1.7 trillion in global GDP. Therefore, the expansion of the aviation industry is expected to drive the demand in the aircraft electric motor market.
Key Industry Players
Major companies operating in the aircraft electric motor market include Altra Industrial Motion Corporation, Moog Inc., Meggitt plc, Allied Motion Inc., Ametek Inc., Arc Systems Inc., Magneto Aero Dynamics, MagniX USA Inc., H3X Technologies Inc., Emrax d.o.o, Woodward Inc., Windings Inc., Xoar International LLC, Yasa Ltd., Rolls-Royce plc, Siemens AG, Honeywell International Inc., Parker Hannifin Corporation, Safran SA, General Electric Company, Nidec Corporation, ABB Ltd., Bühler Motor GmbH, CEF Industries LLC, Esterline Technologies Corporation, TQ Systems GmbH, Trust Automation Inc., Ultra Electronics Holdings plc, WEG S.A., Zunum Aero Inc., Maxon Motor AG, Nanotec Electronic GmbH & Co. KG, NovaTorque Inc., Parker Hannifin Corp., Pittman Motors, Portescap India Private Limited, Rotor Clip Company Inc., Shinano Kenshi Co. Ltd., ThinGap Inc.
The aircraft electric motor market report table of contents includes:
1. Executive Summary
2. Aircraft Electric Motor Market Characteristics
3. Aircraft Electric Motor Market Trends And Strategies
4. Aircraft Electric Motor Market - Macro Economic Scenario
5. Global Aircraft Electric Motor Market Size and Growth
.......................
31. Global Aircraft Electric Motor Market Competitive Benchmarking
32. Global Aircraft Electric Motor Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Aircraft Electric Motor Market
34. Aircraft Electric Motor Market Future Outlook and Potential Analysis
35. Appendix
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