Aviation High-Speed Motor Global Market Report 2024

The aviation high-speed motor market has grown strongly in recent years. It will grow from $2.68 billion in 2023 to $2.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed in the historical period can be attributed to several factors, including heightened crop yields, the expansion of arable land, efficiency in labor utilization, optimized application of fertilizers, and successful strategies in overcoming topographical challenges.

The aviation high-speed motor market is expected to see strong growth in the next few years. It will grow to $3.71 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. Anticipated growth in the forecast period is likely driven by various factors such as the effects of climate change, escalating concerns about water scarcity, the continual rise in global population, governmental regulations pertaining to water usage, and the increasing integration of renewable energy sources. Key trends expected during this period involve the integration of drip irrigation methods, utilizing data analytics for informed decision-making, implementing remote monitoring and control systems, incorporating IoT devices and sensors, and customizing solutions tailored for different crop needs.

The heightened procurement of new aircraft stands as a driving force behind the burgeoning aviation high-speed motor market. Aircraft, encompassing airplanes, helicopters, airships, and more, rely on high-speed motors for propulsion, flight control, and transmission. In March 2023, Airbus disclosed receiving 99 aircraft orders and delivering 66 crafts to 42 clients, foreseeing a future demand for 2,440 freighter planes, approximately 900 of which will be newly constructed. This surge in aircraft procurement amplifies the demand for high-speed motors, significantly influencing the aviation high-speed motor market.

The escalating air traffic is poised to fuel growth within the aviation high-speed motor market. As air traffic, involving aircraft movement and passenger transport, surges, there's a commensurate need for efficient and reliable aircraft systems, boosting the demand for high-speed motors. Notably, according to a Bureau of Transportation Statistics report in March 2023, US airlines witnessed a 30% year-on-year surge in transported passengers, handling 853 million passengers in 2022, up from 658 million in 2021 and 388 million in 2020, underscoring the driving force of increased air traffic on the aviation high-speed motor market.

Product innovation emerges as a pivotal trend shaping the aviation high-speed motor market. Major players are channeling efforts into developing innovative products to fortify their market standing. For instance, in March 2023, Kite Magnetics, an Australian aviation electric motor startup, unveiled its inaugural aircraft electric motor, the KM-120. This 120-kW electric propulsion unit is specifically designed to replace piston engines in 2-4-seat light aircraft, marking a significant leap in electric propulsion technology.

Strategic partnerships have become a focal strategy among major companies in the aviation high-speed motor industry. These collaborations, aimed at mutual growth and innovation, leverage combined strengths and resources. In June 2023, SpiceJet, an Indian aviation company, partnered with FTAI Aviation Ltd., a US-based aerospace engine service provider. This alliance provides SpiceJet access to premium engines, reducing maintenance costs significantly as outlined in their official press release. The partnership aims to minimize aircraft downtime while enhancing overall airline performance through improved engine efficiency.

In September 2022, Parker-Hannifin Corporation, a leading US-based provider of motion and control technologies, completed the acquisition of Meggitt Plc. for a total of $7.87 billion. This significant acquisition is poised to greatly enhance Parker's capabilities, expanding its offerings across aircraft and aero engine components and systems. The strategic rationale behind this move aligns with Parker's overarching portfolio transformation strategy, aimed at bolstering its presence in enduring, longer-term businesses positioned to benefit from sustained growth trajectories. Meggitt Plc., headquartered in the UK, specializes in manufacturing aviation and aerospace components.

Major companies operating in the aviation high-speed motor market report are Xoar International LLC, Emrax d.o.o., Windings Inc., ARC Systems Inc., Hill Flight Support LLC, Safran Electrical & Power, MagniX, MGM COMPRO, H3X Technologies Inc., NEMA Ltd., Allied Motion Technologies, Meggitt PLC, Pipistrel d.o.o., Honeywell International, Herkimer Tool & Machining Corp., 3A Composites, Kampi Components Co. Inc., Yaskawa Electric Corporation, Oriental Motor Co. Ltd., Regal Rexnord Corporation, Meidensha Corporation, Nidec Corporation, Maxon Motor AG, H2W Technologies Inc., Kollmorgen Corporation, Aerotech Inc., Parker Hannifin Corporation, Thomson Industries Inc., Dunkermotoren GmbH, Moog Inc.

North America was the largest region in the aviation high-speed motor market in 2023. The regions covered in the aviation high-speed motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aviation high-speed motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary variants of aviation high-speed motors encompass direct current (DC) motors and alternating current (AC) motors. DC motors are rotary electrical motors that convert direct current (DC) electrical energy into mechanical energy. They offer simpler installation and maintenance, exhibit high startup power and torque, enable swift responses in starting, stopping, and accelerating, and are available in various standard voltage configurations. These motors find application across flight control, propulsion systems, fuel management systems, and other critical functions in commercial aviation, general aviation, and various other end-user sectors.

The aviation high-speed motor market research report provides aviation high-speed motor market statistics, including the aviation high-speed motor industry global market size, regional shares, competitors with an aviation high-speed motor market share, detailed aviation high-speed motor market segments, market trends and opportunities, and any further data you may need to thrive in the aviation high-speed motor industry. This aviation high-speed 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 industry.

The aviation high-speed motor market consists of sales of high-voltage and low-voltage high speed motors. 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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