NEWARK, Del, Feb. 05, 2024 (GLOBE NEWSWIRE) — According to Future Market Insights (FMI), the global aircraft electric motors market is expected to be valued at US$ 10.2 Billion in 2024. By 2034, the market is expected to be worth US$ 27 Billion, growing at a compound annual growth rate of 10.2% between 2024 and 2034.
Fuel efficiency goals, environmental concerns, and technological breakthroughs in electric propulsion systems drive this rise. Ecological constraints and developments in electric propulsion technologies cause the trend toward electric and hybrid aircraft. Such a pattern draws investment, encourages innovation, and establishes a dynamic atmosphere that is likely to propel the aircraft electric motor market’s expansion in the ensuing decade.
Request Your Sample Report for a Comprehensive View: https://www.futuremarketinsights.com/reports/sample/rep-gb-18863
In multiple industries, drones are utilized for imaging, inspecting infrastructure, and delivering medical samples. They propel themselves entirely with electricity through electric motors. State and local governments are encouraged to invest in drone technology through university pilot programs and smart city models.
Electric motors are increasingly used in airplanes due to their lighter weight and compact design, leading to significant growth. This shift is driven by efforts to reduce operating costs and increase fuel economy. Electric motors also help alleviate noise pollution in both conventional and urban settings. Due to increasing demand from airlines and general aviation, electric and hybrid-electric aircraft development is expected to experience market pull in the coming decade.
Key Takeaways from the Aircraft Electric Motor Market:
- The United States aircraft electric motor industry is projected to experience a CAGR of 10.5% through 2034.
- Japan aircraft electric motor market is expected to demonstrate a rapid CAGR of 12.0% through 2034.
- The United Kingdom aircraft electric motor industry is anticipated to see an average CAGR of 11.3% through 2034.
- South Korea aircraft electric motor industry showcases a promising CAGR of 11.8% through 2034.
- China aircraft electric motor market is expected to display a CAGR of 10.9% through 2034.
“The increasing demand for environmentally friendly aviation, developments in electric propulsion technology, novel materials, and government efforts all contribute to the growth of the aircraft electric motor market. Partnerships and research funding moving electric aircraft to a revolutionary path for environmentally friendly aviation solutions,” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Purchase Your Premium Report Now & Beat Your Competition: https://www.futuremarketinsights.com/checkout/18863
Competitive Landscape:
Through strategic and creative initiatives, businesses have a significant impact on the future of the aircraft electric motor industry. To improve electric motor technology, large aerospace businesses like Moog and H3X Technologies make research and development investments. Partnerships and cooperation, both domestically and internationally, exchange knowledge and technological advancements. Businesses like Wright Electric and MagniX Corporation engage with authorities to develop standards for electric aircraft, which has an impact on regulatory frameworks. Their market presence and competition promote advancement and innovation. The industry’s upward and sustainable trajectory is ensured by outreach efforts, educational initiatives, and workforce development programs that provide a pool of highly qualified individuals.
Key Players Profiled in the Global Aircraft Electric Motor Market:
- H3X Technologies Inc.
- Moog Inc.
- Ametek, Inc.
- Wright Electric
- MagniX Corporation
- Siemens AG
- Honeywell International Inc.
- Safran SA
- Rolls-Royce Holdings plc
- GE Aviation
- Raytheon Technologies Corporation
- YASA Limited
- MagniX
- Pipistrel
- Joby Aviation
Recent Developments:
- In January 2024, Equipmake and H55 collaborated on a 100kW certified Electric Propulsion System for electric aircraft, commercializing the motors for a customer project with BRM AERO.
- In January 2024, IHI Corporation developed the world’s first one-megawatt-class electric motor as part of its MEAAP project to optimize energy management in aircraft systems and reduce carbon dioxide emissions.
Get the Methodology Behind the Numbers, Request Now: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-18863
Aircraft Electric Motor Market Segmentation Analysis:
By Type:
By Application:
- Propulsion System
- Flight Control System
- Engine Control System
- Environmental Control System
- Others
By Output:
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About the Industrial Automation Domain at Future Market Insights:
The industrial automation domain at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide.
With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore Future Market Insights, Inc. Extensive Coverage in Industrial Automation Domain:
The global hydraulic pumps market to soar at 4.0% CAGR over the forecast period between 2023 and 2033. Revenue is anticipated to hit US$ 16.6 Billion by 2033 end.
The switchgear market is projected to expand at a 5.3% CAGR from an estimated US$ 4,828.4 Million in 2023 to US$ 7,685.3 Million by 2033.
The drilling tools market is likely to witness a 3.4% CAGR during the forecast period 2023 to 2033, estimated to cross US$ 10.8 Billion by the end of 2033.
The North America residential ball valves market will grow at a CAGR of 5.6%, reaching a valuation of US$ 554.1 Million in 2032.
The diamond core drilling market is expected to grow at a CAGR of 6.3% from 2023 to 2033, and is expected to reach US$ 3.7 Billion by 2033.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: [email protected]
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube