Global Aircraft Electric Motors Market Size, Share, Growth Analysis, By Type(AC motor and DC motor), By Application(Propulsion Systems, Flight Control Systems) - Industry Forecast 2023-2030

Global Aircraft Electric Motors Market size was valued at USD 5.89 billion in 2021 and is poised to grow from USD 6.4 billion in 2022 to USD 12.38 billion by 2030, at a CAGR of 8.6% during the forecast period (2023-2030).

One of the prominent trends in the market is the development of electric aircraft. This includes various types such as urban air mobility vehicles, electric vertical take-off and landing (eVTOL) aircraft, and hybrid-electric regional and commercial planes. The shift toward electric propulsion systems is driven by several advantages offered by electric motors. These advantages include improved efficiency, reduced emissions, lower operational costs, and quieter operation. These factors contribute to more environmentally friendly and sustainable aviation solutions. Ongoing research and development efforts by key players and aerospace manufacturers are further enhancing the performance and reliability of aircraft electric motors. The increasing focus on urban air mobility and the rising demand for short-haul flights are driving the adoption of electric propulsion systems in the aviation sector.

Top-down and bottom-up approaches were used to estimate and validate the size of the global Aircraft Electric Motors Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Aircraft Electric Motors Market Segmental Analysis Report

The global aircraft electric motors market is segmented on the basis of type, application, and region. Based on type, the market can be segmented into AC motor and DC motor. Based on application, the market is segmented into propulsion systems, flight control systems, environmental control systems, engine control systems, and other systems. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Market Drivers

One of the key drivers of this market is the increasing emphasis on environmental sustainability. As concerns about climate change grow, there is a concerted effort to reduce greenhouse gas emissions within the aviation industry. Electric motors offer a significant advantage in this regard. They contribute to lower emissions, reduced noise pollution, and improved fuel efficiency compared to traditional combustion engines. These factors are driving the adoption of electric propulsion systems, fueling the growth of the aircraft electric motors market.

Restraints

However, the market faces challenges related to battery technology. While electric motors hold immense promise, current battery technologies have limitations in terms of energy storage capacity and efficiency. Aircraft require reliable and high-performance energy sources to power electric motors for extended durations. Existing battery technologies may fall short in meeting these demanding requirements. Addressing these battery-related limitations is crucial for unlocking the full potential of electric propulsion in the aviation industry.

Market Trends

One key market trend is the increasing focus on electric propulsion systems for aircraft. This shift towards eco-friendly solutions aligns with the global push for more environmentally responsible transportation. Electric motors are gaining prominence in various aircraft, including eVTOLs, high altitude vehicles, and all-electric aircraft. This trend underscores the industry's commitment to innovative and sustainable solutions for the future of air travel.