Aircraft Electric Motors Market
The Aircraft Electric Motors Market was estimated at USD 7,753 million in 2020 and is projected to grow at a robust CAGR over the forecast period (2021-2028).
The factors driving the growth of Aircraft Electric Motors Market includes rise in the air passenger traffic around the world, strict regulations imposed by Governing bodies to reduce carbon emissions and growing demand for Unmanned Ariel Vehicles. According to the report published by Bloomberg, the Global Unmanned Ariel Vehicles Market is predicted to reach USD 32350 million in 2022, expanding at a CAGR of 14.4% over the forecast period, which will boost the Aircraft Electric Motors Market size in the approaching years. Moreover, rise in aircraft renewals, availability of urban air mobility platforms, growing application of electric motors in aircraft for oil lubrication and increasing awareness about the benefits of electric aircrafts, are some of the additional factors supplementing the market growth. In addition, the Government initiatives to build new runways and terminals, increasing investments by leading players on research and development and technological advancements in aircraft electric motors, are further contributing to the market growth.
Request a free sample of this report
However, the growth of Aircraft Electric Motors Market is hindered due to challenges related to operational efficiency and realization of electric aircraft to travel longer distances.
The major players operating in the market are LaunchPoint Technologies Inc., Woodward, Inc., Honeywell International Inc., Rolls-Royce plc, MagniX, Meggitt, Pipistrel Group, Aveox, GE and Siemens, among others.
Type – Segment Analysis
Based on Type, the AC Motor Market is estimated to expand at a significant CAGR during the forecast period because. The AC Motors are used in actuation systems in aircraft fans and hydraulic pumps because they are extremely durable, can distribute power evenly and delivers high speed, are some of the factors responsible for the growth of the segment.
Aircraft Type – Segment Analysis
Based on Aircraft, the Unmanned Aerial Vehicles segment is predicted to grow at a remarkable CAGR over the forecast period because the unmanned ariel vehicles are increasingly procured by militaries around the world for border surveillance
Regional – Segment Analysis
Based on Region, the North American region is expected to capture a sizeable market share during the forecast period. Presence of the leading defense companies such as Lockheed Martin and Boeing, growing adoption of technologically advanced electric motors, rapid growth in the Aviation industry, high per capita incomes and rising population growth rates, are some of the important factors propelling the market growth in North America.
Market Segmentation
Global Aircraft Electric Motors Market by Type
- AC Motor
- DC Motor
Global Aircraft Electric Motors Market by Aircraft Type
- Fixed Wing
- Rotary Wing
- Unmanned Aerial Vehicles
- Advanced Air Mobility
Global Aircraft Electric Motors Market by Output Power
- Below 10 kW
- 10 – 200 kW
- Above 200 kW
Global Aircraft Electric Motors Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/