The Aircraft Electric Motor Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aircraft Electric Motor Global Market Report 2024, The aircraft electric motor market size has grown strongly in recent years. It will grow from $8.3 billion in 2023 to $9 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to increased automation, energy efficiency, environmental regulations, lightweight materials, urban air mobility (uam).
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.
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.
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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
Technological advancement is the key trend gaining popularity in the aircraft electric motor market. Major companies operating in the aircraft electric motor market are focused on developing technologically advanced products to strengthen their market position. For instance, in July 2022, Collins Aerospace, a US-based supplier of aerospace and defense products developed the first functional prototype of its 500-kilowatt electric motor that is appropriate for the Airlander 10 aircraft. Hybrid-electric operation for Airlander 10 is expected to start in 2026, followed by an all-electric, zero-emission operation in 2030. In order to do this, Collins’ 500-kilowatt electric motors will be installed in place of the aircraft’s four fuel-burning engines, starting with the two forward engines in 2026 and the two rear engines in 2030.
Top Major Players
Altra Industrial Motion Corporation,
Moog Inc.,
Meggitt PLC,
Allied Motion Inc.,
Ametek Inc.
The aircraft electric motor market report table of contents includes:
1. Executive Summary
- Aircraft Electric Motor Market Characteristics
- Aircraft Electric Motor Market Trends And Strategies
- Aircraft Electric Motor Market – Macro Economic Scenario
- Global Aircraft Electric Motor Market Size and Growth
- Aircraft Electric Motor Market Segmentation
- Aircraft Electric Motor Market Regional And Country Analysis
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- Key Mergers And Acquisitions In The Aircraft Electric Motor Market
- Aircraft Electric Motor Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Aircraft Electric Motor Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Aircraft Electric Motor Market, Segmentation By Aircraft Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Aircraft Electric Motor Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 74: Altra Industrial Motion Corporation Financial Performance
Table 75: Moog Inc. Financial Performance
Table 76: Meggitt plc Financial Performance
Table 77: Allied Motion Inc. Financial Performance
Table 78: Ametek Inc. Financial Performance
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