Aircraft Electric Motors Market to Cross USD 17.64 Bn by 2030 Due to Advancements in Electric Propulsion Systems

The Aircraft Electric Motors Market is propelled by the aviation industry's shift towards electric propulsion systems.

AUSTIN, TEXAS, UNITED STATES, January 29, 2024 /EINPresswire.com/ -- Aircraft Electric Motors Market Overview:

The 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐌𝐨𝐭𝐨𝐫𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 is witnessing a surge in demand as the aviation industry increasingly turns to electric propulsion systems for their aircraft. This shift is driven by the industry's efforts to reduce carbon emissions and improve fuel efficiency, in line with global environmental regulations and the growing emphasis on sustainable aviation. Electric motors offer several advantages over traditional combustion engines, including lower maintenance costs, reduced noise levels, and improved reliability. As a result, aircraft manufacturers are investing in the development of electric propulsion technologies, creating a favorable market landscape for Aircraft Electric Motors.

Aircraft Electric Motors have emerged as cutting-edge technology, transforming the aviation industry by offering efficient, eco-friendly, and high-performance solutions. Unlike traditional internal combustion engines, electric motors operate with superior precision and significantly reduce carbon emissions. These motors are designed to power various components of an aircraft, including propulsion systems, landing gear, and auxiliary systems. The evolution of Aircraft Electric Motors is fueled by the relentless pursuit of sustainability, energy efficiency, and advanced engineering.

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Market Sizing Paragraph:

The Aircraft Electric Motors Market, as per the SNS Insider report, was valued at USD 9.60 billion in 2022. It is anticipated to reach USD 17.64 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2023 to 2030.

Major Key Players Included are:

• ABB
• Siemens
• ARC Systems Inc
• DENSO CORPORATION
• NIDEC CORPORATION
• Regal Rexnord Corporation
• Johnson Electric Holdings Limited
• Maxon
• Emerson Electric Co
• Rockwell Automation Inc, and other players.

Market Analysis

The Aircraft Electric Motors Market is experiencing remarkable growth, driven by several key factors. Firstly, the global emphasis on environmental sustainability and the need to reduce carbon footprint have prompted aircraft manufacturers to adopt electric propulsion systems, bolstering the demand for electric motors. Additionally, advancements in battery technologies have enhanced the efficiency and range of electric aircraft, making them a viable option for both short and long-haul flights. Moreover, government initiatives promoting clean energy and the rising investments in research and development have accelerated innovation in the Aircraft Electric Motors sector. Furthermore, the increasing demand for electric vertical takeoff and landing (eVTOL) vehicles for urban air mobility solutions has further propelled the market growth, opening new avenues for electric motor manufacturers.

Another factor driving the growth of the Aircraft Electric Motors Market is the rapid advancements in electric propulsion technology. These advancements have led to the development of more efficient and powerful electric motors that are capable of meeting the performance requirements of modern aircraft. Additionally, the increasing availability of lightweight and high-energy-density battery systems has made electric propulsion more viable for a wider range of aircraft types, including small regional planes and urban air mobility vehicles. This expansion of the market for electric propulsion systems is creating new opportunities for manufacturers of Aircraft Electric Motors, as they seek to meet the growing demand for these innovative propulsion solutions.

Impact of Recession

The ongoing recession has undeniably cast a shadow over various industries, and the Aircraft Electric Motors Market is no exception. The negative impact of the recession is primarily manifested through reduced consumer spending, delayed aircraft orders, and supply chain disruptions. Airlines, facing financial constraints, are postponing fleet expansion plans and upgrades, directly affecting the demand for Aircraft Electric Motors. Moreover, economic uncertainty has led to decreased investments in research and development projects related to electric propulsion systems. However, amidst these challenges, there is a silver lining. The recession has forced the industry to reassess priorities, encouraging cost-effective solutions and innovative approaches. This period of adversity has spurred collaboration between manufacturers and airlines to explore efficient, affordable electric propulsion options, laying the groundwork for a resilient and adaptable market in the post-recession era.

Market Segmentation & Sub-segmentation included are:

By Motor Type
• Alternate Current Motor
• Direct Current Motor

By Application
• Industrial HVAC
• Medical Equipment
• Industrial Machinery
• Home Appliances
• Others

By Output Power
• Integral Horsepower Output
• Fractional Horsepower Output

By Platform
• Regional Transport Aircraft
• Business Jets
• Light Aircraft
• Ultralight Aircraft

By System
• Batteries
• Electric Motors
• Aerostructures
• Avionics
• Software

Impact of Russia-Ukraine War

The Russia-Ukraine conflict has introduced significant geopolitical instability, impacting various sectors, including aviation. The Aircraft Electric Motors Market has experienced both positive and negative consequences as a result. On one hand, heightened tensions and uncertainties have led to a surge in military aircraft production, driving the demand for specialized electric motors used in defense applications. This increased demand has provided a temporary boost to certain segments of the market. On the other hand, the escalation of the conflict has disrupted global supply chains, causing delays in production and hindering the timely delivery of electric motor components. Additionally, economic sanctions and trade restrictions have further complicated international collaborations and hindered the smooth flow of technology and expertise across borders. Despite these challenges, the market remains resilient, adapting to the evolving geopolitical landscape and exploring new avenues for growth in the face of adversity.

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Key Regional Development

The regional dynamics of the Aircraft Electric Motors Market are characterized by diverse factors, including economic stability, technological innovation, regulatory frameworks, and industry collaborations. In North America, robust investments in electric aviation research and development, coupled with supportive government policies, have propelled the market forward. Europe, with its focus on sustainable aviation and ambitious climate goals, has witnessed a surge in electric aircraft projects, driving the demand for electric motors. In the Asia-Pacific region, rapid urbanization, population growth, and the need for efficient transportation solutions have spurred the development of electric vertical takeoff and landing (eVTOL) vehicles, creating substantial market opportunities for electric motor manufacturers. Additionally, emerging economies in Latin America and Africa are gradually embracing electric aviation technologies, presenting untapped potential for market expansion.

Key Takeaway from Aircraft Electric Motors Market Study

• Among the various segments within the market, the industrial segment stands out as a dominant force driving innovation and technological advancements. The industrial segment caters to a wide range of applications, including cargo planes, industrial drones, and specialized aircraft used in sectors like agriculture and forestry.
• Within the market, the fractional horsepower output segment emerges as a dominant force, reshaping the landscape of aviation technology. Fractional horsepower electric motors, with their power output ranging from a fraction of a horsepower to a few horsepower, find widespread applications in aircraft systems where precision and compact design are paramount.

Recent Developments Related to Aircraft Electric Motors Market

• An Australian startup has recently unveiled a revolutionary lightweight motor designed specifically for electric aircraft. This technological marvel, developed by the innovative minds at the startup, has the potential to transform the future of air travel, making it more sustainable and environmentally friendly.
• The startup, known as BETA Technologies, has taken a significant step forward by not only conceptualizing this groundbreaking technology but also by establishing a state-of-the-art electric aircraft production facility. This facility serves as the epicenter for the creation and assembly of these cutting-edge electric motors, marking a significant milestone in the company's journey toward reshaping the aviation landscape.

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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Aircraft Electric Motors Market, by Motor Type

9. Aircraft Electric Motors Market, by Application

10. Aircraft Electric Motors Market, by Output Power

11. Aircraft Electric Motors Market, by Platform

12. Aircraft Electric Motors Market, by System

13. Regional Analysis

14. Company Profiles

15. Competitive Landscape

16. Conclusion

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