Aircraft Electric Motor Global Market Report 2024

Aircraft electric motors are powered by electricity sourced from a battery. These motors function by utilizing electromagnetic forces to generate motion. Within an electric motor, these magnetic forces prompt the electromagnet to spin, and the power is derived from a battery composed of stacks of thin lithium-polymer cells.

There are two main types of aircraft electric motors such as AC (Alternating Current) motors and DC (Direct Current) motors. AC motors are driven by an alternating current and comprise an outer stator with coils supplied with alternating current, creating a rotating magnetic field. An inner rotor attached to the output shaft generates another rotating magnetic field. Various types of aircraft, including fixed-wing, rotary-wing, unmanned aerial vehicles, and advanced air mobility, incorporate these motors. Torque specifications range from up to 1 nm, 1-50 nm, 50-200 nm, to above 200 nm, with output power capabilities varying from up to 10 kW, 10-200 kW, and above 200 kW. These electric motors find application in a multitude of aircraft systems, including propulsion, flight control, environmental control, engine control, avionics, door actuation, landing and braking systems, cabin interior systems, and other related functions.

The aircraft electric motor market research report is one of a series of new reports that provides Aircraft electric motor market statistics, including aircraft electric motor industry global market size, regional shares, competitors with aircraft electric motor market share, detailed Aircraft electric motor market segments, aircraft electric motor market trends, and aircraft electric motor market opportunities, and any further data you may need to thrive in the aircraft electric motor industry. This aircraft electric motor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the aircraft electric motor industry.

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 observed in the historical period can be attributed to various factors such as increased automation, emphasis on energy efficiency, stricter environmental regulations, the adoption of lightweight materials, and the burgeoning development of 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 anticipated growth in the forecasted period can be linked to several factors, including the rise of green aviation initiatives, government incentives supporting aviation sustainability, the pursuit of sustainability goals, increased focus on sustainability initiatives, and the continuous development of urban air mobility (UAM). Noteworthy trends expected in this forecasted period encompass the electrification of aircraft, the use of lightweight motors, advancements in advanced materials, the adoption of electric propulsion systems, and ongoing advancements in battery technology.

The aircraft electric motor market is expected to experience substantial growth due to the expansion of the aviation industry in the foreseeable future. The aviation sector encompasses a wide array of air transport-related activities, including airlines, aircraft manufacturing, research institutions, military aviation, and more. The use of electric aircraft in the aviation industry has gained momentum, with an increasing number of electric aircraft projects and the prospect of commercial electric flights becoming a reality. This expansion in the aviation industry is set to drive the demand for electric aircraft, consequently boosting the market for aircraft electric motors. As an illustration, in 2022, the Air Transport Action Group (ATAG), a Switzerland-based coalition of aviation experts focused on sustainable development, projected a 3% average annual growth in air travel demand over the next 20 years, with the aviation sector expected to support 13.7 million direct jobs and contribute $1.7 trillion to global GDP by 2038.

The growing demand for air travel is poised to be a significant driver of the aircraft electric motors market. Air travel encompasses various forms of aerial transportation, including airplanes, jet aircraft, helicopters, and more. With the increasing demand for air travel, the adoption of electric motors in aircraft is becoming crucial for reducing the industry's environmental impact. Electric motors offer improved energy efficiency and lower emissions, aligning with the goal of a more environmentally friendly aviation sector. For instance, data from the Bureau of Transportation Statistics, a US-based government agency, reveals that US airlines carried approximately 194 million more passengers in 2022 compared to 2021, marking a 30% year-to-year increase.

A noteworthy trend gaining prominence in the aircraft electric motor market is technological advancement. Leading companies in this market are actively focused on developing advanced products to enhance their market position. An example of this is seen in the actions of Collins Aerospace, a US-based supplier of aerospace and defense products. In July 2022, Collins Aerospace successfully developed the first functional prototype of a 500-kilowatt electric motor suitable for the Airlander 10 aircraft. This development is part of a hybrid-electric initiative, with plans to start hybrid-electric operations in 2026, transitioning to an all-electric, zero-emission operation by 2030. The 500-kilowatt electric motors will replace the aircraft's traditional fuel-burning engines, beginning with the forward engines in 2026 and followed by the rear engines in 2030.

Major players within the aircraft electric motors market are at the forefront of developing innovative products like the MAGNI 350 and 650, aimed at enabling cost-effective, emission-free, and quieter flights. These innovative Electric Propulsion Units (EPUs) possess high specific power and intensive liquid cooling, making them suitable for use in electric aircraft. The MAGNI series EPUs offer a considerable weight reduction compared to conventional engines. For instance, in June 2021, Magnix, a US-based electric motor manufacturer for electric aircraft, introduced two powerful electric motors such as the Magni350 and 650 powerplants, specifically designed for operation at higher altitudes. The Magni350 is a 350-kilowatt electric powerplant capable of generating 450 shaft horsepower, while the Magni650 is a 640-kW propulsion system equivalent to 850 shp. These motors operate at 2,300 rpm or less, tailored for use at altitudes of up to 30,000 feet in unpressurized environments.

In March 2022, Textron Inc., a US-based industrial conglomerate, acquired Pipistrel for a deal amounting to $242 million. This acquisition is anticipated to grant Textron 90% ownership of Pipistrel and is expected to significantly accelerate the development of both fixed-wing and Vertical Take-Off and Landing (VTOL) segments of electric aircraft. Pipistrel, based in Europe, specializes in manufacturing light aircraft and is positioned to contribute substantially to Textron's initiatives in the electric aircraft realm.

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.

North America was the largest region in the aircraft electric motor market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. 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.

The countries covered in the aircraft electric motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The aircraft electric motor market consists of sales of coils, magnetic flux, cobalt steel alloy stator, ball bearings, carbon fiber plates. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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