Report code - SR2300Published On : Feb,2023No. of Pages: 125
Electric Motors Market for Aircraft Propulsion System: Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
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Electric Motors Market for Aircraft Propulsion System: Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028
Electric Motors Market for Aircraft Propulsion System is segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Unmanned Aerial Vehicle, and Advanced Air Mobility), Product Type (AC Motor and DC Motor), Motor Type (Induction Motor and Permanent Magnet Motor), Torque Type (50-200NM and >200NM), Power Type (10-200KW and >200KW), Specific Power Density Type (2-5 kW/kg, 5-8 kW/kg, and >8 kW/kg), End-User Type (OE and Aftermarket), and Region (North America [The USA and Rest of North America], Europe [Germany, France, The UK, and Rest of Europe], Asia-Pacific [China, Japan, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Electric Motors Market for Aircraft Propulsion System is segmented by Aircraft Type (Commercial Aircraft, Regional Aircraft, General Aviation, Unmanned Aerial Vehicle, and Advanced Air Mobility), Product Type...
Electric Motors Market for Aircraft Propulsion System: Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-2028 See less...
Electric Motors Market for Aircraft Propulsion System: Market Size, Share, Trend, Forecast See more...
The Electric Motors Market for Aircraft Propulsion System is likely to grow at a significant CAGR of 96.0%, in the long run, to reach US$ 145.3 million in 2028.
Electric motors are more efficient at converting electricity into propulsive power. Fuel cells, solar cells, ultra-capacitors, power beaming, or batteries provide the electricity needed to operate the aircraft's electric motors. Electrical propulsion systems are designed to significantly reduce fuel use, which lowers emissions by using electric motors. Electric motors used in aircraft propulsion systems, have high power density and power voltage as compared to medium-speed motors.
Market Dynamics
The need for new technology in the aviation sector is driven by 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.
The rising demand for more electric aircraft and unmanned aerial vehicles (UAVs) is expected to increase the employment of high-speed electric motors to power airplanes.
Although the market is still at the nascent stage, it is anticipated that there will be further development in the market competition with the rise in the demand for electric motors for propulsion systems. This is owing to several benefits of electric motors over the ICE engines, such as lighter weight, lesser noise, compactness, mechanically simple, provision of higher efficiency, and lower energy cost.
Segment Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Aircraft-Type Analysis
Commercial Aircraft, Regional Aircraft, General Aviation, Unmanned Aerial Vehicles, and Advanced Air Mobility
Advanced Air Mobility is anticipated to become the major demand generator and the fastest-growing segment by aircraft type over the next five years.
Product-Type Analysis
AC Motor and DC Motor
DC Motor is expected to maintain its market dominance and is likely to grow at a faster rate by product-type, during the forecast period.
Motor-Type Analysis
Induction Motor and Permanent Magnet Motor
Permanent Magnet Motor is likely to remain the larger segment and is expected to witness faster growth by motor type in the coming years.
Torque-Type Analysis
50-200NM and >200NM
>200NM is expected to remain the larger as well as the faster-growing market segment by torque type during the forecast period.
Power-Type Analysis
10-200KW and >200KW
10-200KW is expected to be the dominant and faster-growing segment by power type by 2028.
Specific Power Density-Type Analysis
2-5 KG/KW, 5-8 KG/KW, and >8 KG/KW
2-5 KW/KG is expected to be the dominant segment, whereas 5-8 KG/KW is likely to be the fastest-growing segment by specific power density type, during the forecast period.
End-User-Type Analysis
OE and Aftermarket
OE is anticipated to remain the dominant as well as the faster-growing segment of the market by end-user type in the coming years.
Regional Analysis
North America, Europe, Asia-Pacific, and the Rest of the World
Europe is expected to remain the largest market over the next five years, whereas Asia-Pacific is likely to grow at the highest rate during the forecast period.
By Aircraft Type
The electric motors market for aircraft propulsion systems is classified as commercial aircraft, regional aircraft, general aviation, unmanned aerial vehicle, 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.
By 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 faster-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.
By 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.
By 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.
By 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.
By 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.
Regional Analysis
Europe is expected to remain the largest demand generator for the electric motors market for aircraft propulsion systems during the forecast period. 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.
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Key Players
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 the power range. 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.
Recent Market JVs and Acquisitions: A limited number of strategic alliances including M&As, JVs, etc. have been performed over the past few years. In 2019, Rolls-Royce plc acquired YASA LIMITED. The acquisition comes after an existing collaboration with the eAircraft team on the E-Fan X demonstrator project, regarding hybrid-electric propulsion for regional aircraft.
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
What Deliverables will You Get in this Report?
Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Electric Motors Market for Aircraft Propulsion System
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional, and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
Will I get the information on my specific requirement?
10% free customization
Research Methodology
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s electric motors market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
Detailed profiling of additional market players (up to three players)
SWOT analysis of key players (up to three players)
Competitive Benchmarking
Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com
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Safran, Rolls-Royce plc, MagniX, MAGicALL, Inc., H3X Technologies Inc., MGM COMPRO, Honeywell Aerospace, YASA Limited, Plettenberg Elektromotoren GmbH & Co. KG, and EMRAX d.o.o. are the major players in the electric motors market for aircraft propulsion systems.
Europe is estimated to remain dominant in the electric motors market for aircraft propulsion systems in the foreseeable future. Key electric motor manufacturers, such as Safran, Rolls-Royce plc, and MGM COMPRO are driving the growth of the regional market.
Advanced Air Mobility is estimated to grow at the fastest pace in the coming years. The key aircraft programs such as Eviation’s Alice, Bye Aerospace’s eFlyer 2 & eFlyer 4, and Ampaire Inc.’s Eco Caravan are likely to drive the market growth.
The market is driven by the factors, such as a growing preference for electric aircraft over conventional aircraft, rise in environmental concerns due to emissions, and low cost of electric aircraft ownership.
