Global Aircraft Electric Motor market overview 2024, Forecast To 2033
24 Jan, 2024
The aircraft electric motor market has displayed robust growth, increasing from $8.3 billion in 2023 to $9 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period is attributed to increased automation, energy efficiency, environmental regulations, the adoption of lightweight materials, and the rise of urban air mobility (UAM). Looking forward to 2028, the market is expected to maintain strong growth, reaching $12.28 billion at a CAGR of 8.1%. Anticipated drivers include green aviation initiatives, government incentives, sustainability goals, sustainability initiatives, and the rise of urban air mobility. Major trends encompass the electrification of aircraft, lightweight motors, advancements in materials, electric propulsion systems, and improvements in battery technology.
Global Aircraft Electric Motor Market Key Driver
The expansion of the aviation industry is expected to drive the growth of the aircraft electric motor market. According to Air Transport Action Group, the aviation sector is expected to support 13.7 million direct jobs and contribute $1.7 trillion to global GDP by 2038. The increasing demand for air travel, coupled with the rise in commercial electric flights, will fuel the demand for aircraft electric motors. The expansion of the aviation industry is a key driver for the growth of the aircraft electric motor market.
Get A Free Sample Of The Global Aircraft Electric Motor Market ReportGlobal Aircraft Electric Motor Market Segments
The global 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
By Geography: The regions covered in the Aircraft Electric Motor market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Major Aircraft Electric Motor Industry Players
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.
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Aircraft Electric Motor Market Overview
Aircraft electric motors is motor powered by electricity through a battery. Electric motors use electromagnetic forces to move. The magnetic forces cause the electromagnet inside an electric motor to spin. The battery that powers an aircraft motor includes stacks of thin lithium-polymer cells.
Aircraft Electric Motor Global Market Report 2023 provides data on the global aircraft electric motor market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aircraft electric motor market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.