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The aircraft electric motors market includes major players Moog Inc. (US), Meggitt PLC (UK), Altra Industrial Motion Corporation (US), Woodward, Inc. (US), and Rolls-Royce PLC (UK). These players have spread their business across various countries includes North America, Europe, Asia Pacific, Middle East, Africa, and Latin America. COVID-19 has impacted their businesses as well. Industry experts believe that COVID-19 has affected aircraft electric motors production and services by 710% globally in 2020.
Demand for maximum efficiency during engine operation will drive the demand for engine control system segment
The engine control system segment is expected to be the largest market by value. The growth of the engine control system segment of the aircraft electric motors market can be attributed to the increase in the complexity of engines increasing with more control signals and greater demand for performance and functionality. In addition, small electric aircraft usually have an electric starting system during which an electrical motor is employed along with a battery, which is the source of electricity, wiring, switches, and solenoids to operate the starter. Electric motors are also used to drive the lubrication and scavenge pumps in aircraft for oil lubrication and fuel or coolant systems.
The AC motor segment is projected to witness a higher CAGR during the forecast period
Based on type, the AC motor segment is projected to be the highest CAGR rate for the aircraft electric motors market during the forecast period. The growth of the AC motor segment of the aircraft electric motors market can be attributed to the applications with varied power requirements. These are used in actuation systems in aircraft fans and hydraulic pumps.
The above 200 kW segment is projected to witness a higher CAGR during the forecast period
Based on output power, the above 200 kW segment is projected to be the highest CAGR rate for the aircraft electric motors market during the forecast period. This growth can be attributed to their ideal usage for the propulsion of mid-sized aircraft covering short-range flights. These motors are well-suited to power smaller aircraft as a standalone system or as part of a distributed system on larger aircraft like the Eviation Alice 9-passenger aircraft. They typically have higher torque and lesser RPM compared to smaller motors.
The above 200 Nm segment is projected to witness a higher CAGR during the forecast period
Based on torque, the above 200 Nm segment is projected to be the highest CAGR rate for the aircraft electric motors market during the forecast period. This growth can be attributed to large or heavy applications by providing high torque at a slower speed.
The above 10 kW/kg segment is projected to witness a higher CAGR during the forecast period
Based on power density, the above 10 kW/kg segment is projected to be the highest CAGR rate for the aircraft electric motors market during the forecast period. This growth can be attributed to heavy aircraft applications like propulsion.
The Unmanned Aerial Vehicles segment is projected to witness the highest CAGR during the forecast period
Based on the aircraft type, the unmanned aerial vehicles segment is projected to grow at the highest CAGR rate for the aircraft electric motors market during the forecast period. UAVs are commonly termed drones and are mostly known for their wide usage in various military missions such as border surveillance. They are also used for mapping, surveying, and determining weather conditions of a specific area. Certain remotely piloted UAVs are designed to operate as loitering munition for defense forces.
The OEM segment is projected to witness the highest CAGR during the forecast period
Based on the end use, the OEM segment is projected to grow at the highest CAGR rate for the aircraft electric motors market during the forecast period. OEMs are responsible for the installation of electric motors in an aircraft during the assembly stage and are then made available for delivery to aircraft manufacturers. Over the years, there has been a significant rise in the demand for different aircraft types across regions. According to Airbus, it delivered 863 commercial aircraft to 99 customers in 2019.
The North America market is projected to contribute the largest share from 2021 to 2026
North America is projected to be the largest regional share of the aircraft electric motors market during the forecast period. The key factor responsible for North America, leading the aircraft electric motors market owing to the rapid growth of the technologically advanced electric motors in the region. In North America, the rise in aircraft orders and supplies is encouraging manufacturers of aircraft electric motors to increase their sales year on year. The increasing demand for commercial aircraft and the presence of some of the leading players operating in the market, such as MagniX, H3X, Kollmorgen, Windings Inc., Honeywell International, Inc, are expected to drive the aircraft electric motors market in North America. These players are focusing on R&D to increase their product lines and using technologically advanced systems, subsystems, and other components for manufacturing aircraft electric motors.
News Also Covered: https://www.prnewswire.com/news-releases/aircraft-electric-motors-market-worth-12-1-billion-by-2026–exclusive-report-by-marketsandmarkets-301307553.html
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