Electric Motors Market for Aircraft Propulsion System is Forecast to Reach US$ 145.3 Million in 2028, Says Stratview Research

The Electric Motors Market for Aircraft Propulsion System is likely to grow at a significant CAGR of 96.0% during 2023-2028, to reach US$ 145.3 Million in 2028, states Stratview Research.

DETROIT, Dec. 14, 2023 /PRNewswire/ -- Stratview Research, a global market research firm has launched a report on the electric motors market for aircraft propulsion system which provides a comprehensive analysis of the global and regional industry forecast, current & emerging trends, segment analysis, and competitive landscape.

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Report Highlights

Segment Insights on Electric Motors Market for Aircraft Propulsion System

The electric motors market for aircraft propulsion system is segmented based on aircraft type, product type, motor type, torque type, power type, specific power density type, end-user type, and region.

Based on Aircraft Type- The electric motors market for aircraft propulsion systems is classified as commercial aircraft, regional aircraft, general aviation, unmanned aerial vehicles, and advanced air mobility. Among all the aircraft types, advanced air mobility is likely to hold the largest share of the market during the forecast period and is also anticipated to witness the fastest growth over the same period. This is majorly owing to an increase in the demand for eVTOLS across regions. In addition, there have been multiple pre-orders of such aircraft, which is projected to propel the market growth in the coming years.

Based on Product Type- The market is segmented into AC motors and DC motors. Between product types, the DC motor is expected to remain the dominant as well as the fastest-growing market segment during the forecast period. With the use of these motors, there has been a substantial increase in the use of simple and lightweight electric aircraft models. Depending on the application's load, different DC motors have different torque and speeds, which is driving the market for DC motors.

Based on Motor Type- The market is bifurcated into induction motors and permanent magnet motors. Between motor types, permanent magnet motor is expected to dominate the market during the forecast period. These motors have a higher torque density and are less fault-tolerant by nature. These motors have several other benefits, such as being lightweight, high thermal resistivity, and lower price, which are driving the adoption of these motors.

Based on Torque Type- The market is segmented into 50-200NM and >200NM. >200NM motors are majorly used in aircraft having a wider range and requiring more power for propulsion, such as regional aircraft and AAM. The torque type is expected to grow at a faster pace during the forecast period. This growth can be attributed to large or heavy applications by providing high torque at a slower speed.

Based on Power Type- The market is segmented into 10-200KW and >200KW. In the coming years, the 10-200KW market segment is expected to grow at a faster pace and be the bigger market category during 2023-2028. The majority of the motors used in UAVs, AAMs, and general aviation aircraft will be in this power range.

Based on End-User Type- The market is segmented into OE and aftermarket. Between these end-user types, OE is likely to hold the dominant share during the forecast period. The growth of the segment is driven by a series of upcoming electric aircraft programs, especially at the advanced air mobility level. 

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Which Region Offers the Best Opportunity and Growth?

The report suggests that Europe is expected to remain the largest demand generator for the electric motors market for aircraft propulsion systems during the forecast period.

This growth is majorly attributed to the following –

• This region is home to Pipistrel d.o.o., which is one of the leading electric aircraft OEMs.
• Also, the presence of key electric motor manufacturers, such as Safran, Rolls-Royce plc, and MGM COMPRO, is driving the growth of the regional market.

Electric Motors Market for Aircraft Propulsion System Drivers

Some of the key drivers listed in the report are given below.

• Rising environmental awareness and anticipated increases in air traffic in the coming decades.
• The use of electric propulsion in electric aircraft may reduce carbon emissions, but only if new technologies can offer the appropriate power, weight, and reliability, required for a successful aircraft fleet.

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Top 10 Companies in Electric Motors Market for Aircraft Propulsion System?

High market consolidation as major players has a vast product portfolio, excellent product development capability, wide geographical reach, an excellent distribution network, and long-term customer relationships. The players hold distinct capabilities in manufacturing electric motors using a multitude of power ranges. They have been increasing their R&D investments to cope with the high demand from aerospace platforms. The following are the key players in the electric motors market for aircraft propulsion systems:

• Safran
• Rolls-Royce plc
• magniX.
• MAGicALL, Inc.
• H3X Technologies Inc.
• MGM COMPRO
• Honeywell Aerospace
• YASA Limited
• Plettenberg Elektromotoren GmbH & Co. KG
• EMRAX d.o.o.

What Deliverables Will You Get in this Report?

Related reports which might be useful:

• eVTOL Market
• Electric Aircraft Market
• Aircraft Interior Fasteners Market

About us –

Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

It launches a limited number of reports annually on the above-mentioned specializations. The reliability and insightfulness of the reports enable the readers to take convincing business decisions.

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SOURCE Stratview Research