According to a Future Market Insights (FMI), the global aircraft electric motors market is expected to be valued at USD 10.2 Billion in 2024. By 2034, the market is expected to be worth USD 27 Billion, growing at a compound annual growth rate of 10.2% between 2024 and 2034.
Fuel efficiency goals, environmental concerns, and technological breakthroughs in electric propulsion systems drive this rise. Ecological constraints and developments in electric propulsion technologies cause the trend toward electric and hybrid aircraft. Such a pattern draws investment, encourages innovation, and establishes a dynamic atmosphere that is likely to propel the aircraft electric motor market’s expansion in the ensuing decade.
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In multiple industries, drones are utilized for imaging, inspecting infrastructure, and delivering medical samples. They propel themselves entirely with electricity through electric motors. State and local governments are encouraged to invest in drone technology through university pilot programs and smart city models.
Electric motors are increasingly used in airplanes due to their lighter weight and compact design, leading to significant growth. This shift is driven by efforts to reduce operating costs and increase fuel economy. Electric motors also help alleviate noise pollution in both conventional and urban settings. Due to increasing demand from airlines and general aviation, electric and hybrid-electric aircraft development is expected to experience market pull in the coming decade.
Key Takeaways from the Aircraft Electric Motor Market:
- The United States aircraft electric motor industry is projected to experience a CAGR of 5% through 2034.
- Japan aircraft electric motor market is expected to demonstrate a rapid CAGR of 0% through 2034.
- The United Kingdom aircraft electric motor industry is anticipated to see an average CAGR of 3% through 2034.
- South Korea aircraft electric motor industry showcases a promising CAGR of 8% through 2034.
- China aircraft electric motor market is expected to display a CAGR of 9% through 2034.
Competitive Landscape:
Through strategic and creative initiatives, businesses have a significant impact on the future of the aircraft electric motor industry. To improve electric motor technology, large aerospace businesses like Moog and H3X Technologies make research and development investments. Partnerships and cooperation, both domestically and internationally, exchange knowledge and technological advancements. Businesses like Wright Electric and MagniX Corporation engage with authorities to develop standards for electric aircraft, which has an impact on regulatory frameworks. Their market presence and competition promote advancement and innovation. The industry’s upward and sustainable trajectory is ensured by outreach efforts, educational initiatives, and workforce development programs that provide a pool of highly qualified individuals.
Key Players Profiled in the Global Aircraft Electric Motor Market:
- H3X Technologies Inc.
- Moog Inc.
- Ametek, Inc.
- Wright Electric
- MagniX Corporation
- Siemens AG
- Honeywell International Inc.
- Safran SA
- Rolls-Royce Holdings plc
- GE Aviation
- Raytheon Technologies Corporation
- YASA Limited
- MagniX
- Pipistrel
- Joby Aviation
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Recent Developments:
- In January 2024, Equipmake and H55 collaborated on a 100kW certified Electric Propulsion System for electric aircraft, commercializing the motors for a customer project with BRM AERO.
- In January 2024, IHI Corporation developed the world’s first one-megawatt-class electric motor as part of its MEAAP project to optimize energy management in aircraft systems and reduce carbon dioxide emissions.
Aircraft Electric Motor Market Segmentation Analysis:
By Type:
- AC Motor
- DC Motor
By Application:
- Propulsion System
- Flight Control System
- Engine Control System
- Environmental Control System
- Others
By Output:
- Up to 10 kW
- 10 to 200 kW
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets.
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