Aircraft Electric Motor Market by Type (AC Motor and DC Motor), Application (Propulsion System, Flight Control System, Engine Control System, Avionics System, and Others), Aircraft Type (Commercial Aircraft, Military Aircraft, General Aviation, and UAVs), Power Capacity (Below 10 kW, 10-200 kW, and Above 200 kW): Global Market Size Estimates and Forecast (2019-2030)
The market is expected to cross US$ 9.46 billion in 2022 and is projected to hit US$ 19.91 billion by 2030, recording a CAGR of 9.7% during the forecast period.
Development of Electric Aircraft to Drive the Market Growth.
The development of electric aircraft models is one of the major factors likely to generate huge opportunities for market vendors during the forecast period. The vendors across the aircraft electric motors market are constantly focusing to enter the electric aircraft industry to cater to market demands and gain the early mover advantage in the growing electric aircraft industry. Several vendors have been collaborating with electric aircraft component manufacturers to provide them reliable solutions for the development of successful electric aircraft models. For instance, in May 2022, Lilium GmbH (a Germany based eVTOL aircraft manufacturer) collaborated with Honeywell International Inc. and Denso Corporation for the development of electric motors for Lilium’s seven-passenger eVTOL aircraft.
Commercial segment is likely to dominate the aircraft electric motor market in 2022. This is owing to the rising deliveries of commercial aircraft models across different regions which is propelled by increasing passenger traffic across different regions. Further, the expected deliveries of commercial aircraft acting as another major factor, likely to generate new market opportunities for market vendors during the forecast period.
Within the report, the aircraft electric motor market is segmented into type, application, aircraft type, power capacity, and geography. By type, the aircraft electric motor market is bifurcated into AC motors and DC motors. Based on application, the aircraft electric motor market is segmented into propulsion system, flight control system, engine control system, avionics system, and others. Based on aircraft type, the aircraft electric motor market is segmented into commercial aircraft, military aircraft, general aviation, and UAVs. Based on power capacity, the aircraft electric motor market is segmented into below 10 kW, 10-200 kW, and above 200 kW. Geographically, the aircraft electric motor market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Aircraft Production is Likely to Provide Future Opportunities for Market Vendors During the Forecast Period.
The expected future deliveries of commercial aircraft across the world are likely to generate new market opportunities for market vendors during the forecast period. For instance, according to the Boeing Commercial Outlook 2022, around 41,170 units of aircraft are expected to be delivered by the end of 2041 worldwide. Moreover, according to the Airbus forecasts, around 39,490 commercial aircraft are expected to be delivered by the end of 2041. Such aircraft production is likely to generate huge market opportunities for aircraft electric motor market vendors during the forecast period.
Moreover, the rising general aviation deliveries is another major factor pushing the market growth globally. The growing demand for piston engine aircraft models across different regions is likely to generate new market opportunities for market vendors during the forecast period.
UAV Deployment is Likely to Drive the Aircraft Electric Motor Market Growth.
The growing deployment of medium or high-altitude long endurance UAVs across different military forces is another major factor likely to generate new market opportunities for market vendors during the forecast period. The growing deployment of MALE/HALE UAVs across the armed forces is mainly due to the rising military expenditure by different armed forces worldwide. This is further likely to boost the UAV production and is expected to drive the aircraft electric motors market for military segment during the forecast period.
Recent Strategic Developments in Aircraft Electric Motor Market
The aircraft electric motor market has undergone several significant developments, and a few of these have been mentioned below:
- In June 2022, Collins Aerospace introduced the first working prototype of its 500-kilowatt electric motor suitable for the Airlander 10 aircraft under a partnership with Hybrid Air Vehicles and the University of Nottingham.
- In April 2022, Safran signed an agreement with Diamond Aircraft to provide ENGINeUS electric smart motor for its eDA40 all-electric training aircraft.
- In December 2020, Faradair a UK based electric aircraft startup company awarded a contract to MagniX to provide electric motors for a proposed fleet of 300 aircraft to be built in the United Kingdom by 2030.
The aircraft electric motor market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Allied Motion Technologies Inc., Moog Inc., Meggitt plc, Altra Industrial Motion, Woodward Inc., Rolls-Royce plc, AMETEK Inc., Thin Gap, Arc Systems Inc., and Electromech Technologies are among the prominent players operating in the aircraft electric motor market.
Target audience for the report:
- Aircraft AC/DC motor manufacturers
- Commercial aircraft motor manufacturers
- Military aircraft motor manufacturers
- General aviation aircraft motor manufacturers
- UAV electric motor manufacturers
- Commercial and military aircraft related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the aircraft electric motor market has been segmented on the basis of:
- Type:
- AC Motor
- DC Motor
- Application:
- Propulsion System
- Flight Control System
- Engine Control System
- Avionics System
- Others
- Aircraft Type:
- Commercial Aircraft
- Military Aircraft
- General Aviation
- UAVs
- Power Capacity:
- Below 10 kW
- 10-200 kW
- Above 200 kW
- Region
- North America
- US
- Canada
- Mexico
- Europe
- Asia Pacific (APAC)
- Middle East & Africa
- South America
- North America
- Companies profiled
- Allied Motion Technologies Inc
- Moog Inc.
- Meggitt plc
- Altra Industrial Motion
- Woodward, Inc
Companies profiled
- Allied Motion Technologies Inc
- Moog Inc.
- Meggitt plc
- Altra Industrial Motion
- Woodward, Inc