Northbrook, IL 60062 -- (SBWIRE) -- 03/06/2023 -- The aircraft electric motors market size 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 according to a new report by MarketsandMarkets™. The anticipated growth in demand for commercial aircraft is driving market expansion.
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Engine Control Systems is expected to account for the largest share in 2022
Based on application, engine control systems segment is projected to lead the aircraft electric motors market during the forecast period. The increase in engine complexity caused by more control signals and better standards for performance and functionality is whats driving the market for aircraft electric motors engine control system segment growth.
The AC Motor is projected to dominate market share in the system segment during the forecast period
Based on Type, the AC Motor segment is projected to dominate the market share during the forecast period. Applications with various power requirements are to account for the growth of the aircraft electric motors markets AC motor segment. They are utilized in the hydraulic pumps and fan actuation systems of aircraft.
The above 10 kW/kg is projected to witness a higher CAGR during the forecast period.
Based on Power Density, the above 10 kW/kg segment is projected to hold the highest CAGE for the market during the forecast period. The constantly growing passenger traffic and the adoption of advanced mode of transportation to meet demand both have an impact on growth of the segment. The highest growth expansion is due to utilization for the heavy aircraft applications.
The Fixed Wing segment projected to lead aircraft electric motors market during the forecast period
Based on aircraft type, the fixed wing segment is projected to lead the aircraft electric motors market during the forecast period. The demand for fixed-wing aircraft is being driven down by the growing aircraft fleet, the markets desire for fuel-efficient aircraft, and a rise in airline passengers. The advanced air mobility to hold the highest CAGR for the forecast period.
The OEM segment is projected to dominate market share in the system segment during the forecast period
Based on End Use, the OEM segment is projected to dominate the market share during the forecast period. Over the years, there has been a substantial increase in demand for various types of aircraft across the regions. OEM are responsible for installing electric motors in an aircraft during the assembly stage and are subsequently made available for supply to aircraft manufacturers. Hence will drive the market for OEM segment. Additionally, the market growth for the OEM sectors will also be boosted by the deployment of advanced air mobility platforms for passenger transportation and freight delivery.
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North America is expected to account for the largest share in 2022
The aircraft electric motors market industry has been studied in North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. North America accounted for the largest market share in 2022, and Asia Pacific is projected to witness the highest CAGR during the forecast period. Rising demand for air travel is anticipated to be favourable for the market for aircraft electric motors in the aviation industry. Additionally, increased R&D spending by key companies and OEMs to provide superior electric motors to suit future aviation industry demand. Hence following factors are responsible to accelerate the market for aircraft electric motors in North America.
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) are some of the market players.
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