Aircraft Electric Motor Market Share, Trends & Forecast 2024-2034

Aircraft Electric Motor Market Outlook for 2024 to 2034

The global aircraft electric motor market is anticipated to be worth USD 10.2 billion in 2024. By 2034, the demand for airplane electric motors is expected to be valued at USD 27 billion. The market is expected to grow at a rate of 10.2% between 2024 and 2034.

The increasing emphasis on electric propulsion for airplanes, motivated by environmental concerns, fuel economy objectives, and technological breakthroughs in electric propulsion systems, is driving the growth of the aviation electric motor sector.

The heightened focus on sustainability and lowering carbon emissions in aviation drives growth in the aircraft electric motor market. Growing environmental restrictions and advancements in electric propulsion systems encourage the transition to electric and hybrid aircraft. This game-changing trend draws capital, fosters creativity, and establishes a dynamic environment for the growth of the market in the forthcoming decade.

Consumption Analysis of the Aircraft Electric Motor

• Drones are used in various industries for medical sample delivery, infrastructure inspection, and imaging. They use electric motors for propulsion, leading to 100% electric propulsion. Moreover, University pilot programs and smart city models are encouraging state and municipal governments to invest in drone technology.
• Electric motor utilization in aircraft has increased due to their ability to provide reduced weight and compact design compared to traditional propulsion systems. This has significantly contributed to the growth of the aircraft electric motor industry.
• The drive toward improving fuel efficiency and lowering operational expenses has led to the adoption of electric motors in aircraft propulsion systems.
• The aviation electric motor sector is growing because electric motors are quieter, which helps alleviate noise pollution issues in conventional and urban flying settings.
• In the ensuing decade, aircraft electric motor development is likely to experience a market pull due to airlines' and general aviation's increasing desire for electric and hybrid-electric aircraft.

Attributes	Details
Aircraft Electric Motor Market Value for 2024	USD 10.2 billion
Aircraft Electric Motor Market Size for 2034	USD 27 billion
Aircraft Electric Motor Market Forecast CAGR for 2024 to 2034	10.2%

Historical Performance and Future Growth of the Aircraft Electric Motor Industry

This section provides a comprehensive analysis of the industry during the last five years, highlighting the expected trends in the expansion of the aircraft electric motor market. A strong historical compound annual growth rate of 13.7% indicates a dip in the market.

Historical CAGR	13.7%
Forecast CAGR	10.2%

The market for aircraft electric motors confronts obstacles that impede its quick development, including high starting prices, technology limits, and infrastructural constraints. The public's acceptability, regulatory uncertainty, and range restrictions further slow the adoption rate.

Crucial factors that are anticipated to affect the demand for aircraft electric motors through 2034.

• Economic downturns or crises may cause investment reductions and impede the uptake of breakthrough technology, such as aircraft electric power systems.
• To support the expansion of the electric motor business, additional infrastructure for charging electric aircraft is required, both in-flight and at airports.
• Current battery technology may limit the range and endurance of electric aircraft, affecting their applicability for some long-haul or endurance-critical applications.
• Apprehensions regarding electric aircraft's safety, dependability, and public acceptance may hamper their widespread commercial acceptance.
• Market players need to be smart and flexible throughout the predicted time because these aggressive aspects set the sector up for a prosperous future.

Key Trends Influencing the Aircraft Electric Motor Market

Popularity of the Hybrid-Electric Propulsion

The aviation industry is noticing an evolution toward hybrid-electric aircraft, which utilize a combination of traditional and electric propulsion. Due to this development, electric motors are now part of increasingly intricate and adaptable power systems. Hybrid-electric propulsion procedures have undergone significant advancements, leading to a ripple demand for electric motors in the aircraft market.

These electric motors are designed to reduce fuel consumption and emissions, providing a more environmentally friendly and sustainable solution for the aviation industry. The growing popularity of hybrid-electric aircraft and the demand for more environmentally friendly and efficient propulsion systems are projected to fuel significant growth in the aircraft electric motor market.

Rise of Electric and Aviation Startups in the Market

The market is witnessing a surge in innovation and growth, owing to the increasing investments from the aerospace giants, startups, and collaborative partnerships. The advancements in electric aviation technologies have given rise to a new breed of players and startups solely dedicated to developing such technologies. This, in turn, is fostering healthy competition and innovation within the market. The new players and startups are bringing new ideas and technologies to the table, pushing the boundaries of the existing technologies.

The result is the development of more efficient, reliable, and sustainable electric aviation solutions. As more players enter the market and demand for environmentally friendly aviation solutions rises, the aircraft electric motor industry is expected to experience considerable expansion in the following decade.

Increasing Demand for UAM with Charging Infrastructure

There has been a notable increase in the popularity of urban air mobility (UAM), which has resulted in a surge in demand for electric motors that can power electric vertical takeoff and landing (eVTOL) vehicles and short-range urban air transport. To facilitate the widespread adoption of electric motors in aircraft, expanding the existing charging infrastructure at airports and developing in-flight recharging technologies is crucial.

The aviation industry has recognized this need and is actively working toward creating new and innovative electric charging infrastructure. This move is expected to drive the growth of the aircraft electric motor market in the coming years. As electric aircraft are becoming increasingly popular, it is essential to address the challenges surrounding the charging infrastructure to ensure that this technology can be scaled up and integrated into the existing transportation network.

Category-wise Insights

This section provides detailed insights into specific aircraft electric motor industry segments. The research focuses primarily on two key subjects: the AC motor segment and the propulsion system as an application segment. Through comprehensive analysis, this section aims to offer a deeper understanding of these segments and their significance in the broader context of the aircraft electric motor industry.

AC Motors Amplifies the Aircraft Electric Motor Demand

Attributes	Details
Top Type	AC Motor
CAGR from 2024 to 2034	10.2%

The AC motor category is expected to dominate the aircraft electric motor market, exhibiting a promising CAGR of 10.2% between 2024 and 2034. However, it is noteworthy that the CAGR for AC motors was previously projected to be an optimistic 13.5%. The development of AC motors for aircraft electric motors can be attributed to several factors:

• There is a strong demand for AC motors in the market because of their high efficiency and dependability, which enhance the overall performance of airplane electric propulsion systems.
• AC motors provide high power-to-weight ratios, improving the power density of electric propulsion systems and allowing for more efficient aircraft designs.
• The industry's acceptance of AC motors as standard equipment and their widespread use has made the market for aviation electric motors more unified and interoperable.
• Continuing breakdowns in motor control technology for AC motors, which improve the precision and efficiency of electric propulsion systems, further fueling the aircraft electric motor industry.

Propulsion System Propels the Development of the Aircraft Electric Motor Market

Attributes	Details
Top Application	Propulsion System
CAGR from 2024 to 2034	9.8%

The propulsion system segment is anticipated to dominate the market in the application category, which is predicted to grow at a strong 9.8% between 2024 and 2034. Nevertheless, it is important to remember that the propulsion system's CAGR was earlier expected to be an optimistic 13.3%. There are several reasons for the slow advancement of aircraft electric motor power systems:

• The growing appeal in urban air mobility solutions, where electric propulsion systems are essential for providing effective and sustainable short-distance air travel, drives demand for electric motors for aircraft.
• In line with global efforts to create more sustainable and environmentally friendly aircraft, electric propulsion systems driven by electric motors assist in reducing overall emissions.
• Electric motors in propulsion systems have fewer moving parts than conventional engines, which reduces maintenance and operating expenses.
• The industry has seen a surge in interest and demand due to integrating electric motors in hybrid propulsion systems, which provide more flexibility and the advantages of both traditional and electric power sources.
• The need for aircraft electric motors has increased due to the development of high-energy-density batteries, improving the viability and range of electric propulsion systems.

Country-wise Insights

The demand for aircraft electric motors in several significant countries, including the United States, Japan, Korea, China, and the United Kingdom are examined in this section. The factors impacting the need for, acceptability of, and sales of aircraft electric motors in certain nations are discussed in this section.

Country	CAGR from 2024 to 2034
The United States	10.5%
Japan	12.0%
The United Kingdom	11.3%
South Korea	11.8%
China	10.9%

The United States Aerospace Industry Demands for Electric Motors

The aircraft electric motor market in the United States is expected to witness steady growth, with a CAGR of 10.5% until 2034. This growth rate is lower compared to the 14.4% observed between 2019 and 2023.

Despite the moderate growth, the industry is projected to reach a valuation of USD 4.8 billion by 2034. The following factors are driving the demand for aircraft electric motors, which is likely to play a crucial role in the growth of the industry:

• A dynamic ecosystem is fostered by cooperative efforts between aerospace businesses, research institutes, and government agencies, which speed up the development, testing, and commercialization of aircraft electric motors.
• The fierce competition in the United States aerospace sector encourages innovation and leadership in cutting-edge technology, such as aircraft electric motors, to maintain a competitive advantage in the global market.

Japanese Workforce Advances the Demand for Electric Motors in Aviation

With a potential CAGR of 12.0%, the demand for aircraft electric motors in Japan is expected to expand at a substantial rate. By 2034, this increase is expected to decipher into a valuation of USD 3.0 billion. It should be noted that the nation has previously seen a higher CAGR of 17.5% from 2019 to 2023. Several of the key trends are as follows:

• Clear regulations and standards for electric aircraft and their parts, such as electric motors, provide a favorable climate that encourages Japanese businesses to invest in and advance this technology.
• Japan has led the world in developing and producing cutting-edge aircraft electric motors because of the availability of a highly competent labor force with an education in aerospace engineering.

Chinese Aircraft Motor Sector Promotes Novel Research

The aircraft electric motors industry in China is expected to grow substantially in the coming years, with an estimated CAGR of 10.9% until 2034. The industry has already shown significant potential, with a CAGR of 17.5% between 2019 and 2023.

The market is projected to be valued at USD 4.3 billion, indicating a vast potential for growth and investment in this sector. Here are a few of the key trends:

• Continuing developments in power electronics, energy storage systems, and electric motor technology, frequently fueled by research and development efforts in China, increase the competitiveness and capabilities of aircraft electric motors.
• Modern research facilities and educational establishments focusing on electric propulsion technologies and aeronautical engineering support China in producing cutting-edge aircraft electric motors.

The United Kingdom Fancies Commercial Aviation Motors

The United Kingdom market for aircraft electric motors is witnessing a significant surge in demand at a predicted CAGR of 11.3%. Experts anticipate the sector to reach a valuation of USD 1.1 billion by the year 2034. The industry is expected to experience a notable CAGR of 16.8% between 2019 and 2023. Among the main trends are:

• The United Kingdom's aviation electric motor sector enterprises benefit financially from significant investments made by government-backed programs, venture capital firms, and private investors. This support fosters innovation and growth in the United Kingdom's industry.
• The increased demand for electric and hybrid-electric aircraft from the military and commercial sectors in the United Kingdom is driving innovative electric motor solutions.

South Korean Industry Indulges the Automation of the Aviation

South Korea aircraft electric motors market is witnessing a remarkable surge in demand. Future Market Insights predicts the sector is likely to experience a CAGR of 11.8% through 2034, which is expected to result in a global valuation of approximately USD 1.7 billion by the same year.

It is worth noting that the previous CAGR of the South Korean aircraft electric motor sector was around 21.3%. Some of the primary drivers include:

• Acknowledging the global need for electric aircraft and their constituent parts, South Korean enterprises allocated resources toward innovations such as electric motors to penetrate global demands.
• Cooperation among South Korean aerospace enterprises, academic institutes, and foreign partners to hasten the development and commercialization of aircraft electric motors.
• Participation in international collaborations and partnerships in the aerospace industry, allowing South Korea to leverage expertise and resources for developing aircraft electric motors.

Establishments Shaping the Outlook of the Aircraft Electric Motor Industry

Businesses have a critical role in determining the future of the aviation electric motor sector through innovative and strategic efforts. Significant participants in the aerospace industry, including Moog Inc. and H3X Technologies Inc., make substantial research and development investments to advance electric motor technology.

International and domestic collaborations and partnerships have the sharing of information and progress in technology. A dedication to environmental objectives may be seen in investments made in electric propulsion systems and sustainable aircraft technology.

A significant part in influencing regulatory frameworks is also played by corporations like Wright Electric and MagniX Corporation, who collaborate closely with authorities to set standards for electric aircraft.

Their competitiveness and market presence encourage healthy competition, spurring ongoing innovation and advancing the sector. In addition, workforce development programs, outreach campaigns, and educational activities help to create a pool of highly qualified candidates, guaranteeing the aircraft electric motor industry's upward and sustainable trajectory.

Recent Developments in the Aircraft Electric Motor Industry

• In January 2024, Equipmake and H55 developed a 100kW fully certified Electric Propulsion System (EPS) for electric aircraft, with H55 commercializing the motors for its customer project with BRM AERO on the Bristell B23 Energic aircraft, using Equipmake motors based on H55 specifications.
• In January 2024, IHI Corporation developed the world's first one-megawatt-class electric motor, part of its More Electric Architecture for Aircraft and Propulsion (MEAAP) project, to optimize energy management in aircraft systems to reduce carbon dioxide emissions.
• In June 2023, RTX successfully tested its 1 MW electric motor, developed by Collins Aerospace, marking a significant milestone in its hybrid-electric flight demonstrator program.

Key Companies in the 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

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
  • 5.1. AC Motor
  • 5.2. DC Motor
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 6.1. Propulsion System
  • 6.2. Flight Control System
  • 6.3. Engine Control System
  • 6.4. Environmental Control System
  • 6.5. Others
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Output
  • 7.1. Up to 10 kW
  • 7.2. 10-200 kW
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Market Structure Analysis
• 18. Competition Analysis
  • 18.1. Maxon
  • 18.2. Wright Electric
  • 18.3. MagniX Corporation
  • 18.4. Woodward, Inc.
  • 18.5. SAFRAN
  • 18.6. MGM COMPRO
  • 18.7. Moog Inc.
  • 18.8. Ametek, Inc.
  • 18.9. EMRAX d.o.o
  • 18.10. H3X Technologies Inc.
• 19. Assumptions & Acronyms Used
• 20. Research Methodology