The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The aircraft electric motor market has witnessed robust growth in recent years, with a promising outlook ahead. From $8.3 billion in 2023, the market is set to ascend to $9 billion in 2024, boasting a compound annual growth rate (CAGR) of 8.4%. This growth is attributed to increased automation, energy efficiency, adherence to environmental regulations, the utilization of lightweight materials, and the burgeoning trend of urban air mobility (UAM).

Anticipating Strong Growth Ahead

1. Projected Growth and Contributing Factors

The aircraft electric motor market is poised for strong growth in the coming years, with an expected surge to $12.28 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The driving forces behind this growth include green aviation initiatives, government incentives, sustainability goals, and the escalating popularity of urban air mobility. Key trends in the forecast period encompass the electrification of aircraft, lightweight motors, advancements in materials, electric propulsion systems, and the continuous evolution of battery technology.

2. Major Trends Shaping the Future

In the forecast period, the market will be marked by significant trends, such as the electrification of aircraft, the development of lightweight motors, the incorporation of advanced materials, advancements in electric propulsion systems, and the continual evolution of battery technology. These trends collectively contribute to the market’s evolution and transformation.

Aviation Industry Expansion Spurs Demand for Electric Motors

1. Growth Catalyst: Aviation Industry Expansion

The expansion of the aviation industry is anticipated to be a driving force behind the growth of the aircraft electric motor market. Electric aircraft, once confined to test beds with minimal payloads, are now becoming a reality, with numerous projects underway. As the demand for air travel is expected to grow by an average of 3% per year over the next 20 years, the aviation sector is projected to support 13.7 million direct jobs and contribute $1.7 trillion to global GDP by 2038. This expansion will lead to an increased demand for aircraft electric motors.

2. Industry Leaders in Focus

Major companies playing a pivotal role in the aircraft electric motor market include Altra Industrial Motion Corporation, Moog Inc., Meggitt PLC, Allied Motion Inc., Ametek Inc., and others. These industry leaders influence market dynamics and contribute to the continual development of cutting-edge electric motor solutions.

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Technological Advancements Drive Market Innovation

1. Trend Spotlight: Technological Advancement

Technological advancement stands out as a key trend, gaining prominence in the aircraft electric motor market. Leading companies are dedicated to developing technologically advanced products to enhance their market positions. For example, Collins Aerospace, a US-based aerospace and defense products supplier, developed the first functional prototype of a 500-kilowatt electric motor suitable for the Airlander 10 aircraft. This marks a significant step towards hybrid-electric and eventually all-electric, zero-emission operations.

2. Strategic Acquisition: Textron’s Move

In March 2022, Textron Inc., a US-based industrial conglomerate, acquired Pipistrel for $242 million. This strategic acquisition is expected to accelerate the development of both fixed-wing and vertical take-off and landing (VTOL) electric aircraft. Pipistrel, a Europe-based company specializing in manufacturing light aircraft, brings valuable expertise to Textron’s portfolio.

Market Segmentation and Regional Dynamics

1. Segmentation Overview

The aircraft electric motor market is segmented based on type, aircraft type, torque, and output power:

• Type: AC Motor, DC Motor
• Aircraft Type: Fixed Wing, Rotary Wing, Unmanned Aerial Vehicles, Advanced Air Mobility
• Torque: Up to 1 Nm, 1-50 Nm, 50-200 Nm, Above 200 Nm
• Output Power: Up to 10 kW, 10-200 kW, Above 200 kW

2. Regional Dynamics: North America Takes the Lead

In 2023, North America emerged as the largest region in the aircraft electric motor market. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period, highlighting the global nature of the market’s evolution.

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The Aircraft Electric Motor Global Market Report 2024  provides an overview of the aircraft electric motor market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The aircraft electric motor market forecast analyzes aircraft electric motor market size, aircraft electric motor market share, leading competitor and their market positions.

The Table Of Content For The Aircraft Electric Motor Market Include:

1. Aircraft Electric Motor Market Executive Summary
2. Aircraft Electric Motor Market Segments
3. Aircraft Electric Motor Market Size And Aircraft Electric Motor Market Growth Rate
4. Key Aircraft Electric Motor Market Trends
5. Major Aircraft Electric Motor Market Drivers
……
25. Key Mergers And Acquisitions In The Aircraft Electric Motor Market
26. Top Aircraft Electric Motor Companies
27. Aircraft Electric Motor Market Opportunities And Strategies
28. Aircraft Electric Motor Market, Conclusions And Recommendations
29. Appendix

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