Home Press Releases Aircraft Electric Motors Market Worth $12.9 Billion by 2027 at a CAGR of 9.4%

Aircraft Electric Motors Market Worth $12.9 Billion by 2027 at a CAGR of 9.4%

by Press Room

(EMAILWIRE.COM, February 24, 2023 ) The Aircraft Electric Motors Market is projected to grow from USD 8.2 Billion in 2022 to USD 12.9 Billion by 2027, at a CAGR of 9.4% from 2022 to 2027. The demand for improved aircraft electric motors onboard new aircraft is boosting the adoption of aircraft electric motors, which reduces weight and decreases operating and maintenance costs for end users.

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Based on Type, AC Motors are expected to dominate market share during the forecast period. The market for aircraft electric motors has grown significantly in the AC Motor sector, which might be attributable to applications with varying power requirements. They are employed in hydraulic pump and aircraft fan actuation systems.

Based on Output Power, the above 200 kW is anticipated to show the highest growth rate for aircraft electric motor market. Their optimal applicability for mid-sized aircraft flying short-distance journeys is attributed to the segment’s rise. These motors are ideally adapted to power smaller aircraft either as a distributed system on bigger aircraft like the Eviation Alice 9-passenger aircraft or as a standalone system on smaller aircraft. They frequently have higher torque and lower RPM than smaller motors.

Based on aircraft type, fixed-wing aircraft is expected to account for the largest market share during the forecast period. Both in the commercial and general aviation sectors, the demand for fixed-wing aircraft is anticipated to grow rapidly, necessitating the concurrent usage of aircraft electric motors for cutting-edge aircraft. Secondly, manufacturers are developing advanced aircraft electric motors to replace the bulky traditional aircraft components.

Based on End Use, the OEM segment is projected to lead the aircraft electric motors market during the forecast period. The demand for different types of aircraft has significantly increased throughout the areas over the years. Electric motors are installed by OEM during the aircraft assembly process and then made accessible for supply to aircraft manufacturers. Consequently, the OEM segment market will be driven.

Based on Region, North America accounted for the largest market share in 2022, and Asia Pacific is projected to witness the highest CAGR during the forecast period. Existence of key players, OEMs, and component makers are some of the factors anticipated to drive the North American aviation electric motors market. Additionally, the rising demand for contemporary aircraft for commercial and civic uses is having an impact on market growth in North America.

Key Market Players:

Major players operating in the aircraft electric motors market include Moog Inc. (US), Meggitt PLC (UK), Altra Industrial Motion Corporation (US), Woodward, Inc. (US), Allied Motion Inc. (US), Arkwin Industries Inc. (US) and Rolls-Royce PLC (UK). These companies have reliable manufacturing facilities as well as strong distribution networks across key regions, such as North America, Europe, Middle East and Asia Pacific.

News Also Covered: https://www.prnewswire.com/news-releases/aircraft-electric-motors-market-worth-12-9-billion-by-2027—exclusive-report-by-marketsandmarkets-301750621.html

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