Global Aircraft Electric Motors Market Size, Share, Growth Analysis, By Type(AC motor and DC motor), By Application(Propulsion Systems, Flight Control Systems) - Industry Forecast 2024-2031

Aircraft Electric Motors Market size was valued at USD 5.89 billion in 2021 and is poised to grow from USD 6.4 billion in 2022 to USD 12.38 billion by 2030, at a CAGR of 8.6% during the forecast period (2023-2030).

The competitive landscape of the global aircraft electric motors market is characterized by intense rivalry among industry players striving to innovate and establish a strong market presence. Major participants are actively engaged in research and development to enhance electric motor technology, aiming for improved efficiency, power output, and lightweight designs. Collaborations and partnerships between aerospace companies and electric motor manufacturers are also common to leverage expertise and expand market reach. Moreover, strategic initiatives, such as mergers and acquisitions, are shaping the competitive dynamics, leading to increased market consolidation. As the demand for electric aircraft propulsion systems grows, competition is expected to further intensify, driving the industry to push the boundaries of electric motor technology for the aviation sector. 'Wright Electric (US)', 'SAFRAN (France)', 'Maxon (Switzerland)', 'Moog Inc. (US)', 'Ametek, Inc. (US)', 'H3X Technologies Inc. (US)', 'MagniX Corporation (US)', 'Woodward, Inc. (US)', 'MGM COMPRO (Czech Republic)', 'EMRAX d.o.o. (Slovenia)', 'Siemens AG (Germany)', 'GE Aviation (US)', 'Rolls-Royce Holdings plc (UK)', 'Honeywell International Inc. (US)', 'Safran Electrical & Power (France)', 'United Technologies Corporation (US)', 'ABB (Switzerland)', 'Parker Hannifin Corporation (US)', 'Moticont (US)', 'Nova Electric (US)'

One key driver of the global aircraft electric motors market is the growing emphasis on environmental sustainability and the need to reduce greenhouse gas emissions in the aviation industry. As concerns over climate change continue to rise, governments, aviation authorities, and airlines are increasingly pushing for greener and more eco-friendly aircraft solutions. Electric motors offer a significant advantage in this regard, as they contribute to lower emissions, reduced noise pollution, and improved fuel efficiency compared to traditional combustion engines. This environmental consciousness is driving the adoption of electric propulsion systems, thus propelling the growth of the aircraft electric motors market.

One key market trend in the above market is the increasing focus on electric propulsion systems for aircraft, driven by the aviation industry's growing emphasis on sustainability and eco-friendly solutions. This trend is evident in various developments, partnerships, and acquisitions, where companies are actively investing in and adopting electric motor technologies to power aircraft, ranging from eVTOLs to high altitude and unmanned vehicles. The trend reflects a shift towards greener aviation practices and a recognition of the potential benefits electric motors can offer in terms of reduced emissions, improved fuel efficiency, and quieter operation, aligning with the broader global push towards more environmentally responsible transportation solutions.

The dominant segment in the global aircraft electric motors market is North America. The region holds a leading position due to its well-established aerospace industry, presence of major aircraft manufacturers, and ongoing technological advancements in electric propulsion systems. North America benefits from a strong focus on research and development, government initiatives to promote sustainable aviation, and a high demand for electric aircraft in both commercial and military applications, making it the dominant region in the market.