Aircraft Electric Motor Global Market Report 2023
Major players in the aircraft electric motor market are ltra Industrial Motion Corporation, Moog Inc., Meggitt PLC, Allied Motion Inc., Ametek Inc., Arc Systems Inc., Magneto Aero Dynamics, MagniX, H3X Technologies Inc.
New York, March 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aircraft Electric Motor Global Market Report 2023" - https://www.reportlinker.com/p06433616/?utm_source=GNW
, Emrax d.o.o, Woodward Inc., Windings Inc., Xoar International LLC, Yasa Ltd., Rolls-Royce PLC.
The global aircraft electric motor market grew from $7.79 billion in 2022 to $8.62 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aircraft electric motor market is expected to grow to $12.02 billion in 2027 at a CAGR of 8.7%.
The aircraft electric motors market consists of sales of coils, magnetic flux, cobalt steel alloy stator, ball bearings, carbon fiber plates.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aircraft electric motors is motor powered by electricity through a battery.Electric motors use electromagnetic forces to move.
The magnetic forces cause the electromagnet inside an electric motor to spin. The battery that powers an aircraft motor includes stacks of thin lithium-polymer cells.
North America was the largest region in the aircraft electric motor market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the aircraft electric motor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aircraft electric motor are AC motor and DC motor.An AC motor is an electric motor driven by an alternating current.
It consists of two basic parts, an outside stator having coils supplied with alternating current to produce a rotating magnetic field, and an inside rotor attached to the output shaft producing a second rotating magnetic field.The various types of aircraft involved are fixed wing, rotary wing, unmanned aerial vehicles, and advanced air mobility.
The various torque involved are up to 1 nm, 1-50 nm, 50-200 nm, and above 200 nm with the output power of up to 10 kW, 10-200 kW, and above 200 kW. The several applications include propulsion system, flight control system, environmental control system, engine control system, avionics system, door actuation system, landing, and braking system, cabin interior system, and others.
Expansion of the aviation industry is expected to propel the growth of the aircraft electric motor market going forward.The aviation industry includes virtually all facets of air transport as well as the activities that support it.
It covers the entire airline sector as well as the manufacture of aircraft, research organizations, military aviation, and much more.Electric aircraft are being used in the aviation industry.
These aircraft served as test beds for years with minimal payload and scant range.The number of electric aircraft projects has skyrocketed recently, and commercial electric flights seem to be just around the corner.
Therefore, the expansion of the aviation industry would also expand the electric aircraft which would lead to an increase in the demand for aircraft electric motors. For instance, in 2022, according to Air Transport Action Group (ATAG), a Switzerland-based coalition of aviation industry experts focusing on sustainable development issues, over the next 20 years the demand for air travel is anticipated to grow by an average of 3% year and by 2038 the aviation sector would support 13.7 million direct jobs and $1.7 trillion in global GDP. Therefore, the expansion of the aviation industry is expected to drive the demand in the aircraft electric motor market.
Technological advancement is the key trend gaining popularity in the aircraft electric motor market.Major companies operating in the aircraft electric motor market are focused on developing technologically advanced products to strengthen their market position.
For instance, in July 2022, Collins Aerospace, a US-based supplier of aerospace and defense products developed the first functional prototype of its 500-kilowatt electric motor that is appropriate for the Airlander 10 aircraft.Hybrid-electric operation for Airlander 10 is expected to start in 2026, followed by an all-electric, zero-emission operation in 2030.
In order to do this, Collins’ 500-kilowatt electric motors will be installed in place of the aircraft’s four fuel-burning engines, starting with the two forward engines in 2026 and the two rear engines in 2030.
In March 2022, Textron Inc., a US-based industrial conglomerate acquired Pipistrel for a deal amount of $242 million. With this acquisition, Textron is expected to acquire 90% of Pipistrel’s ownership and would significantly speed up the development of the fixed wing and VTOL (vertical take-off and landing) portions of electric aircraft. Pipistrel is a Europe-based company that manufactures light aircrafts.
The countries covered in the aircraft electric motor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aircraft electric motor market research report is one of a series of new reports that provides Aircraft electric motor market statistics, including aircraft electric motor industry global market size, regional shares, competitors with aircraft electric motor market share, detailed Aircraft electric motor market segments, market trends, and opportunities, and any further data you may need to thrive in the aircraft electric motor industry. This aircraft electric motor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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