Aircraft Electric Motors Market Size, Share, Growth Analysis, By Type (AC Motor, DC Motor), By Aircraft Type (Fixed Wing, Rotary Wing), By Output Power (Below 10 kW, 10 – 200 kW), By Region - Industry Forecast 2024-2031

Global Aircraft Electric Motors Market size was valued at USD 6.54 billion in 2022 and is poised to grow from USD 7.1 billion in 2023 to USD 13.74 billion by 2031, growing at a CAGR of 8.6% during the forecast period (2024-2031).

The global aircraft electric motors market is currently witnessing significant growth and transformation as technological advancements and sustainability concerns drive the adoption of electric propulsion systems in the aviation industry.

Presently, there is a growing emphasis on developing electric aircraft, including urban air mobility vehicles, electric vertical take-off and landing (eVTOL) aircraft, and hybrid-electric regional and commercial planes. This trend is primarily attributed to the advantages offered by electric motors, such as improved efficiency, reduced emissions, lower operational costs, and quieter operation, thereby promoting eco-friendly and sustainable aviation solutions.

Additionally, ongoing research and development efforts by key players and aerospace manufacturers are enhancing the performance and reliability of aircraft electric motors, further bolstering market growth. The rising focus on urban air mobility and the increasing demand for short-haul flights are propelling the adoption of electric propulsion systems.

Moreover, favorable government initiatives and regulations aimed at reducing carbon footprints in the aviation sector are providing lucrative opportunities for market expansion. However, challenges related to battery technology, limited range capabilities, and high initial costs remain to be addressed.

Nevertheless, with continuous innovations and collaborative efforts between industry stakeholders, the global aircraft electric motors market is poised to experience remarkable growth in the present and foreseeable future.

US Aircraft Electric Motors Market is poised to grow at a sustainable CAGR for the next forecast year.