Press release
Aircraft Electric Motor Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Aircraft Electric Motor Market
The Business Research Company offers in-depth market insights through Aircraft Electric Motor Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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.
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Market Segmentation:
The main types of aircraft electric motor are AC motor and DC motor. An AC motor is an electric motor driven by an alternating current. It consists of two basic parts, an outside stator having coils supplied with alternating current to produce a rotating magnetic field, and an inside rotor attached to the output shaft producing a second rotating magnetic field. The various types of aircraft involved are fixed wing, rotary wing, unmanned aerial vehicles, and advanced air mobility. The various torque involved are up to 1 nm, 1-50 nm, 50-200 nm, and above 200 nm with the output power of up to 10 kW, 10-200 kW, and above 200 kW. The several applications include propulsion system, flight control system, environmental control system, engine control system, avionics system, door actuation system, landing, and braking system, cabin interior system, and others.
Major Driver - Aviation Industry Expansion Fuels Demand For Aircraft Electric Motors
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.
Competitive Landscape:
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.
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Top Trend - Technological Advancements Drive Innovation In The Aircraft Electric Motor Market
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.
The Table Of Content For The Market Report Include:
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. Aircraft Electric Motor Market Size And Growth
…..
27. Aircraft Electric Motor Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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