Aviation High Speed Motor Market Size, Share, Growth Analysis, By Type(AC Motor, DC Motor), By Application(Propulsion System, Flight Control System, Fuel Management System, Others), By End Use(Commercial Aviation, General Aviation, Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20A2256 | Region: Global | Published Date: April, 2024
Pages: 201 | Tables: 90 | Figures: 70

Aviation High Speed Motor Market News

In April 2024, Harbour Air, a Canadian provider and operator of seaplanes, revealed its plans to buy 50 propulsion systems from renowned aviation high speed motor supplier called MagniX. Harbour intends to use these propulsion systems in its all-electric fleet.

In November 2023, Saxonair, a Norfolk aviation firm, announced the launch of its new all-electric aircraft, which is also the world’s first certified electric aircraft. The aircraft is powered by a 57.6kw electric motor.

In March 2023, Kit Magnetics, an aerospace start-up based in Australia, announced the launch of its new lightweight motor for electric aircraft. The 120-kW motor was launched at the Avalon Air Show event held in Victoria, Australia.

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Aviation High Speed Motor Market size was valued at USD 2.69 billion in 2022 and is poised to grow from USD 2.84 billion in 2023 to USD 4.4 billion by 2031, growing at a CAGR of 5.6% in the forecast period (2024-2031).

Aviation high speed motor providers should ride the sustainability wave and collaborate with electric aircraft manufacturers to improve their sales and revenue generation potential in the future. Companies can also invest in the R&D of novel motors that are efficient yet powerful. Aviation high speed motor market players can also focus on creating motors that can be retrofitted to old aircrafts as retrofitting of old aircraft opens up loads of money-making opportunities. 'Safran Electrical & Power', 'NEMA Ltd.', 'ARC Systems Inc.', 'Pipistrel', 'Siemens', 'Meggitt PLC', 'EMRAX d.o.o.', 'GE Aerospace', 'MagniX', 'MGM COMPRO', 'Windings Inc.', 'Allied Motion Technologies', 'H3X Technologies Inc. ', 'Xoar International LLCARC Systems Inc.'

Growing efforts reduce the carbon footprint of the aviation industry have led to quick adoption of hybrid and electric aircraft around the world. These aircraft use motors as their primary propulsion systems as they are powered by electricity through batteries or fuel cells.

North America is estimated to hold a prominent chunk of the aviation high speed motor demand outlook. This region’s dominance can be ascribed to the presence of key aerospace manufacturers, high demand for UAVs in the military, and rapid adoption of advanced aviation technologies. The United States is slated to spearhead the sales of aviation high speed motors in the long run owing to high military expenditure and a growing number of aircraft in the country. Canada is another significant market for aviation high speed motor suppliers in this region.

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Aviation High Speed Motor Market Size, Share, Growth Analysis, By Type(AC Motor, DC Motor), By Application(Propulsion System, Flight Control System, Fuel Management System, Others), By End Use(Commercial Aviation, General Aviation, Others), By Region - Industry Forecast 2024-2031

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