Aircraft Electric Motor Market to Reach $14.4 Billion, Globally, by 2032 at 8.5% CAGR: Allied Market Research

The global aircraft electric motor market is experiencing growth due to the factors such as environmental regulations and emissions reduction, rise in demand for electrical components in aircraft, and advancement in electric aircraft propulsion systems. 

PORTLAND, Ore., July 3, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Aircraft Electric Motor Market by Type (AC Motor and DC Motor), by Output (Up to 10 kW and 10-200 kW), by Application (Propulsion System, Flight Control System, Engine Control System, Environmental Control System and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global aircraft electric motor industry generated $6.4 billion in 2022, and is anticipated to generate $14.4 billion by 2032, witnessing a CAGR of 8.5% from 2023 to 2032. 

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Prime determinants of growth

The global aircraft electric motor market is driven by factors such as surge in regulations on carbon emissions and environmental sustainability, advancements in electric motor technology, and government policies, incentives and funding programs for aircraft electrification. However, high voltage and thermal issues of aircraft electrical systems and limited energy density of batteries are hampering the aircraft electric motor market growth. On the contrary, rise of urban air mobility and air taxi services and regional and short-haul aviation are expected to offer remunerative opportunities for the expansion of the aircraft electric motor market during the forecast period.

Report coverage & details:

Covid-19 Scenario

• The immediate impact of COVID-19, the long-term prospects for the aircraft electric motor market was positive. The pandemic further emphasized the need for sustainable aviation and reduced emissions. Governments, industry stakeholders, and consumers were increasingly prioritizing environmental sustainability, which driven the demand for electric propulsion systems in the post-pandemic era.
• The aviation industry recovers, and travel demand gradually resumes, there is an opportunity for aircraft manufacturers and electric motor suppliers to leverage the crisis as a catalyst for innovation and market growth.

The AC motor segment to maintain its leadership status throughout the forecast period

Based on type, the AC motor segment held the highest market share in 2022 accounting for nearly three-fifths of the global market share and is estimated to maintain its leadership status throughout the forecast period, as these motors are a key component of electric aircraft propulsion systems, and as the demand for electric aircraft rises, the demand for AC motors is also expected to increase. However, the DC motor segment is projected to manifest the highest CAGR of 10.1% from 2023 to 2032, as it offers a favorable combination of power density, efficiency, and compactness. This makes them ideal for aircraft applications where weight and space constraints are critical.

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The engine control system segment garnered the major share in 2022

Based on application, the engine control system segment held the highest market share in 2022, accounting for nearly one-fourth of the global aircraft electric motor market revenue. Furthermore, the propulsion segment is estimated to maintain its leadership status throughout the forecast period, as it plays a vital role in managing the operation of the electric motor(s) used for aircraft propulsion. However, the other segment is projected to manifest the highest CAGR of 11.4% from 2023 to 2032, electric motor-driven door actuation systems can incorporate advanced safety features and reliability enhancements. These systems can include position sensors, obstacle detection, and redundant control mechanisms to ensure the safe and reliable operation of aircraft doors.

The 10-200 kW segment to maintain its lead position during the forecast period

Based on the output, the 10-200 kW segment accounted for the largest share in 2022 accounting for more than four-fifths of the global market share, and is estimated to maintain its leadership status throughout the forecast period, as its power output are designed to meet the unique requirements of aviation applications, including high power-to-weight ratio, efficiency, reliability, and compactness. However, the up to 10 kW segment is expected to portray the largest CAGR of 12.1% from 2023 to 2032. Aircraft electric motors with outputs up to 10 kW find applications in smaller aircraft, auxiliary systems, and actuation systems where lower power requirements are sufficient.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for nearly one-third of the global aircraft electric motor market revenue, owing to rise in demand for aircraft propel the growth of the aircraft electric motor market in North America during the forecast period. However, Europe region is estimated to maintain its leadership status throughout the forecast period. However, the LAMEA region is expected to witness the fastest CAGR of 11.9% from 2023 to 2032, owing to presence of wealthy economies such as Saudi Arabia & Qatar and increasing investment toward the advancement of aircraft systems and components by the LAMEA nations are anticipated to support the growth of the LAMEA aircraft electric motor market during the forecast period.

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Leading Market Players: -

• Ametek, Inc.
• EMRAX D.O.O.
• H3X Systems and Motors
• Maxon
• MGM Compro
• Moog Inc.
• MagniX
• Safaran
• Woodward, Inc.
• Windings Inc.

The report provides a detailed analysis of these key players of the global aircraft electric motor market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

Similar Reports We Have on Aircraft Industry:

United States Aircraft Electric Motor Market Report 2023-2035

Japan Aircraft Electric Motor Market Report 2023-2035

South Korea Aircraft Electric Motor Market Report 2023-2035

Asia-Pacific Aircraft Electric Motor Market Report 2023-2035

Europe Aircraft Electric Motor Market Report 2023-2035

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