Aircraft Electric Motor Market Opportunities and Strategies to 2033

This report describes and explains the aircraft electric motor market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global aircraft electric motor market reached a value of nearly $8.08 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.59% since 2018. The market is expected to grow from $8.08 billion in 2023 to $11.76 billion in 2028 at a rate of 7.77%. The market is then expected to grow at a CAGR of 6.24% from 2028 and reach $15.91 billion in 2033.

Growth in the historic period resulted from the steady expansion of the aviation industry, increased investments in sustainable aviation projects, growing emphasis on noise reduction in aircraft, expansion of aviation maintenance, repair and overhaul (MRO) services and rise in demand for hybrid-electric aircraft. Factors that negatively affected growth in the historic period include battery technology constraints and geopolitical tensions.

Going forward, the increase in passenger air traffic, expansion of commercial and regional airline fleets, growth of low-cost carriers and favorable government initiatives will drive the market. Factors that could hinder the growth of the aircraft electric motor market in the future include range limitations compared to conventional engines and economic uncertainties or downturns.

The aircraft electric motor market is segmented by type into AC motor and DC motor. The AC motor market was the largest segment of the aircraft electric motor market segmented by type, accounting for 73.22% or $5.92 billion of the total in 2023. Going forward, the DC motor segment is expected to be the fastest growing segment in the aircraft electric motor market segmented by type, at a CAGR of 8.24% during 2023-2028.

The aircraft electric motor market is segmented by aircraft type into fixed wing, rotary wing, unmanned aerial vehicles and advanced air mobility. The fixed wing market was the largest segment of the aircraft electric motor market segmented by aircraft type, accounting for 45.65% or $3.69 billion of the total in 2023. Going forward, the advanced air mobility segment is expected to be the fastest growing segment in the aircraft electric motor market segmented by aircraft type, at a CAGR of 9.53% during 2023-2028.

The aircraft electric motor market is segmented by torque into up to 1 Nm, 1-50 Nm, 50-200 Nm and above 200 Nm. The 1-50 Nm market was the largest segment of the aircraft electric motor market segmented by torque, accounting for 35.00% or $2.83 billion of the total in 2023. Going forward, the above 200 Nm segment is expected to be the fastest growing segment in the aircraft electric motor market segmented by torque, at a CAGR of 9.04% during 2023-2028.

The aircraft electric motor market is segmented by application into propulsion system, flight control system, environmental control system, engine control system and other applications. The engine control system market was the largest segment of the aircraft electric motor market segmented by application, accounting for 28.57% or $2.31 billion of the total in 2023. Going forward, the propulsion system segment is expected to be the fastest growing segment in the aircraft electric motor market segmented by application, at a CAGR of 9.69% during 2023-2028.

The aircraft electric motor market is segmented by output power into up to 10 kW, 10-200 kW and above 200 kW. The 10-200 kW market was the largest segment of the aircraft electric motor market segmented by output power, accounting for 59.22% or $4.78 billion of the total in 2023. Going forward, the 10-200 kW segment is expected to be the fastest growing segment in the aircraft electric motor market segmented by output power, at a CAGR of 9.23% during 2023-2028.

North America was the largest region in the aircraft electric motor market, accounting for 44.42% or $3.59 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the aircraft electric motor market will be Asia-Pacific and Western Europe, where growth will be at CAGRs of 8.57% and 8.55% respectively. These will be followed by Africa and North America, where the markets are expected to grow at CAGRs of 7.44% and 7.27% respectively.

The global aircraft electric motor market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 10.33% of the total market in 2023. Moog Inc was the largest competitor with a 2.06% share of the market, followed by Woodward Inc with 1.75%, Ametek Inc with 1.46%, Rolls-Royce Holdings plc with 1.38%, Safran SA with 1.28%, Kollmorgen Corporation with 0.84%, ElectroCraft Inc with 0.71%, Maxon Motor AG with 0.41%, L3Harris Technologies Inc with 0.24% and MagniX Corporation with 0.21%.

The top opportunities in the aircraft electric motor market segmented by type will arise in the AC motor segment, which will gain $2.61 billion of global annual sales by 2028. The top opportunities in the aircraft electric motor market segmented by aircraft type will arise in the fixed wing segment, which will gain $1.61 billion of global annual sales by 2028. The top opportunities in the aircraft electric motor market segmented by torque will arise in the 1-50 Nm segment, which will gain $1.31 billion of global annual sales by 2028. The top opportunities in the aircraft electric motor market segmented by output power will arise in the 10-200 kW segment, which will gain $2.65 billion of global annual sales by 2028. The top opportunities in the aircraft electric motor market segmented by application will arise in the flight control system segment, which will gain $1.09 billion of global annual sales by 2028. The aircraft electric motor market size will gain the most in the USA at $1.15 billion.

Market-trend-based strategies for the aircraft electric motor market include focus on innovative developments in electric propulsion units aimed at enhancing efficiency in small aircraft, ground testing initiatives for electric propulsion systems designed for revolutionizing air travel, integration of 3D printing technologies in developing high-efficiency electric motors for aviation, strategic partnerships and collaborations among major players to enhance product offerings and expansion of component offerings to enhance market presence in hydrogen-electric aviation technologies.

Player-adopted strategies in the aircraft electric motor market include focus on enhancing geographical footprint across the globe through partnership expansions and new product launches.

To take advantage of the opportunities, the analyst recommends the aircraft electric motor companies to focus on electric propulsion units for small aircraft, focus on ground testing for electric propulsion systems, focus on leveraging 3D printing for electric motors, focus on strategic partnerships for technological advancement, focus on expanding component offerings for hydrogen-electric aviation, focus on advanced air mobility development, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions, focus on propulsion system development and focus on targeting end-users in the growing passenger air traffic market.