Aviation High Speed Motor Market Size, Share & COVID-19 impact Analysis, By Type (AC Motor and DC Motor), By Platform (Commercial Aircraft, General Aviation Aircraft, Business Aircraft, Electric Aircraft, UAV, Helicopter), By Application (Propulsion System, Flight Control, Fuel Management System) and Regional Forecast, 2021-2028

The global aviation high speed motor market size was USD 2.33 billion in 2020 and is projected to grow from USD 2.55 billion in 2021 to USD 3.74 billion by 2028 at a CAGR of 5.62% in the 2021-2028 period. The sudden rise in CAGR is attributable to this market’s demand and growth returning to pre-pandemic levels once the pandemic is over. The global impact of COVID-19 has been unprecedented and staggering, with aviation high speed motors witnessing a negative demand shock across all regions amid the pandemic. Based on our analysis, the market exhibited a huge decline of -22.87% in 2020. 

Aviation high speed motors are used for various flight applications, such as propulsion, flight control, transmission, and others. These motors, used in aircraft systems, have high power density and less power voltage as compared to medium speed motors. The rising demand for more electric aircraft and unmanned aerial vehicles (UAVs) is expected to increase the employment of high speed electric motors to power airplanes. Moreover, the growing emphasis on reducing the carbon footprint has pushed aircraft engine manufacturers to design and develop electric engines, which is expected to fuel market growth.

Motor Manufacturing Factories to Face Exceptional Challenges amid the COVID-19 Pandemic

Due to lockdown in major countries, such as the U.S., Germany, France, China, Japan, and India, motor manufacturing factories faced a huge revenue drop as they were forced to shut down for several days. For instance, Siemens Ltd. reported a decrease in revenue by 59.5% in the 3^rd quarter of 2020, driven by the shutdown of all manufacturing units and project sites amid the pandemic.

Even though the factories were operational after May 2020, only one-third of the staff was available in rotation, which led to an increase in order backlog. Moreover, governmental restrictions on trade and travel, along with the decreased demand for air travel among passengers, have led to a massive revenue drop in the aviation industry. The revenue losses have, in turn, led to cancellations of new aircraft orders, thus leading to a decrease in the demand for aviation high speed motors that are mounted in an aircraft.

Furthermore, disruptions in supply chains and the scarcity of raw materials due to the pandemic also pose a challenge to the market’s growth. This downfall is attributed to the sudden suspension of supply from China as it is one of the largest suppliers of raw materials and finished products.

LATEST TRENDS

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The development of Electric Motors for Commercial Electric Aircraft is a Prominent Trend

Nowadays, aircraft manufacturers are primarily focusing on the development of electric aircraft to save the cost of fuel and reduce harmful emissions from fossil fuels that affect the environment. For the last couple of years, there has been a high demand for all-electric passenger aircraft from countries such as the U.S., China, Singapore, and the U.K.

The development of electric motor market with high-power density and rotational speed is a prominent trend in the aviation industry. For example, Wright Electric, an electric aircraft manufacturer, has announced the development of an all-electric propulsion system for its 186-seat commercial electric aircraft. The manufacturer is producing an electric motor of 1.5MW. The development of motor and power systems is the next step toward building an all-electric narrow-body aircraft.

Moreover, government agencies, such as the National Aeronautics and Space Administration (NASA) and the Air Force Research Laboratory, are investing in research and development capabilities to design technologically advanced lightweight lithium-ion batteries for electrically-propelled aircraft. For instance, in 2019, NASA signed a collaboration agreement with the General Electric Company to develop a next-generation inverter for the NASA Advanced Air Vehicles Program (AAVP) to allow the future of flight for large commercial aircraft with electric propulsion. The program cost is USD 12 million.

DRIVING FACTORS

Increasing Procurement of New Aircraft to Meet the Rising Demand for Air Travel to Boost Market Growth

The next-generation aircraft are equipped with high power density motors that consume less power. The environmental benefits of electric motors are increasing their implementation in new aircraft models. The growing number of airline passengers has further driven new aircraft procurement extensively. A rise in the disposable income of individuals has led to an increase in the demand for air travel, thus increasing air passenger traffic. According to the International Air Transport Association (IATA), the number of air passengers is expected to double to 8.2 billion by 2037. The increased demand for air travel has led airlines to increase their aircraft fleet size, which is anticipated to propel market growth. Even though the COVID-19 pandemic has had a severe impact on the aviation industry, it is expected to bounce back to the pre-COVID demand level by the end of 2021.

Growing Demand for UAVs and eVTOL Aircraft to Fuel the Market

Most small drones are equipped with brushed motors, whereas large drones are equipped with brushless motors. The continuous development in brushless motors to increase the overall efficiency of large UAVs is anticipated to fuel the growth of the market. Other drone motor technologies, such as counter-rotating motors, offer greater efficiency by consuming 20-50% less energy. The rising demand for UAVs for various applications such as surveying, mapping, monitoring, and others is anticipated to increase the demand for aviation high speed motors.

Moreover, UAVs and electric vertical takeoff and landing (eVTOL) aircraft have eliminated the usage of fossil fuels, thus reducing fuel costs and resultant emissions. The growing demand for eVTOL air taxis is also expected to augment the growth of the market.

RESTRAINING FACTORS

Fluctuating Raw Material Prices from China to Hamper Aviation High Speed Motor Market Growth

Critical aircraft materials and components, such as copper wires, permanent magnets, steel bars, special alloys, and others, are widely manufactured in China. A few manufacturers in China have dominance over the pricing of these raw materials. The price of the product defines the supremacy of certain suppliers in the market. Thus, price fluctuations have to be borne by other suppliers and manufacturers in the market. The raw material suppliers face low-profit margins as they are unable to pass the price change to the end customers.

SEGMENTATION

By Type Analysis

DC Motor Segment to Grow at a Higher CAGR Backed by Increasing Demand for Electric Aircraft

Based on type, the market for aviation high-speed motors is segmented into AC motor and DC motor. The AC motor segment is expected to dominate throughout the market during the forecast period owing to the extensive usage of AC motors in various applications, such as pumps and compressors, in an aircraft.

The DC motors segment is expected to witness higher growth during the forecast period owing to their increasing applications in electric aircraft. An electric aircraft uses a battery or hydrogen-cell-powered direct current electric motors for propulsion. Moreover, high-speed DC motors generate small inertia, which increases the dynamic response of the motor.

By Platform Analysis

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UAV Segment to be Fastest-Growing Segment Backed by Increasing Usage of UAVs for Military Applications

Based on the platform, the market is classified into commercial aircraft, general aviation aircraft, business aircraft, electric aircraft, unmanned aerial vehicles (UAV), and helicopters.

The commercial aircraft segment is anticipated to dominate the aviation high speed motor market share owing to the increasing number of commercial aircraft deliveries. For instance, in October 2020, SKY Express, a Greek airline, placed an order for four Airbus A320neo aircraft.

The UAV segment is expected to grow at a higher CAGR owing to the rise in the demand for UAVs for military applications, such as surveillance and monitoring. Moreover, increasing investments by key players for the development of air taxis is expected to aid the growth of this market.

The electric aircraft segment is also expected to witness significant growth throughout the forecast period owing to the growing awareness among manufacturers to develop aircraft with zero emissions.

By Application Analysis

Propulsion Segment to Showcase Highest Growth Supported by the Growing Demand for all-Electric Aircraft

In terms of application, the market is divided into propulsion system flight control and fuel management system.

The propulsion system segment was estimated to be the largest segment in 2020 and is set to continue its domination during the projected period. Aviation high-speed motors are used in various power generating applications in an aircraft, such as AC generators, auxiliary power units (APU), ram air turbine pumps, and others. The growth of the segment is attributed to the growing number of commercial aircraft deliveries. This segment is also predicted to be the fastest-growing segment as well, owing to the increasing use of electric motors as engines in electric aircraft and UAVs.

The fuel management system segment is projected to showcase a significant CAGR during 2021-2028. Motors are used in fuel boost pumps, fuel override pumps, APU fuel feed pumps, water scavenge jet pumps, and fuel scavenge jet pumps. The increasing demand to increase the efficiency of aircraft by reducing fuel consumption is expected to support the growth of this market.

REGIONAL INSIGHTS

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The global market is segmented, based on region, into North America, Europe, Asia Pacific, and the Rest of the World.

North America dominated the market in 2020. The North America market size stood at USD 0.61 billion in 2020. Its growth is attributed to the increase in the demand for air travel in the region. The presence of key aircraft manufacturers, such as the Boeing Company and others, is also driving market growth across North America.

In Asia Pacific, the market for aviation high speed motors is predicted to witness remarkable growth during the forecast period. The growth is due to the rising investments in the aviation sector by countries such as India, China, Japan, and others. The increasing procurement of new aircraft to expand fleets to meet the growing air passenger traffic is expected to drive the growth of the regional market.

Europe is anticipated to show significant growth owing to the rising demand for electric aircraft in the region. Countries such as the U.K and France are investing in the development of pollution-free aircraft. For instance, in June 2020, as a government initiative, France announced a package of USD 16.85 billion to support the aviation industry. The scheme involves investing funds in small companies and launching carbon-neutral planes by 2035.

Growing tourism in the Middle Eastern countries and the increasing use of UAVs for modern agricultural practices in Latin American countries are expected to drive the growth of the market during 2021-2028.

KEY INDUSTRY PLAYERS

Key Players to Introduce Advanced Technologies in Existing Motor Designs to Improve Operational Efficiency

Key companies in the market are majorly focusing on introducing advanced technologies for enhancing the overall efficiency of an aircraft. For instance, H3X Technologies Inc. has developed a lightweight integrated electric motor, HPDM-250. The first version of the motor weighs 15kg that produces 200kW of continuous power. The motor has a built-in inverter and achieves a top speed of 20,000 rpm. Moreover, other major players such as Siemens, Safran Electrical & Power, and others are focused on transforming their products to offer cost-effective systems to their customers.

LIST OF KEY COMPANIES PROFILED:

• MagniX (The U.S.)


• Pipistrel (Slovenia)


• Safran Electrical & Power (France)


• Meggitt PLC (The U.K.)


• Siemens (Germany)


• Allied Motion Technologies (The U.S.)


• ARC Systems Inc. (The U.S.)


• NEMA Ltd. (The U.K.)


• Windings Inc. (The U.S.)


• H3X Technologies Inc. (The U.S.)


• EMRAX d.o.o. (Slovenia)


• MGM COMPRO (Czechia)


• Xoar International LLC (The U.S.)

KEY INDUSTRY DEVELOPMENTS:

• December 2020 – MagniX made a deal with Faradair to provide electric motors for its aircraft fleet of 300. The fleet of 300 aircraft is expected to be built by 2030.


• November 2020 – Safran Electrical & Power signed an agreement with Bye Aerospace to equip ENGINeUS electric smart motors on eFlyer 4 & eFlyer 2 aircraft. This contract determines the success of Safran’s ENGINEUS product line.

REPORT COVERAGE

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The aviation high speed motor market report provides a detailed analysis of the market and focuses on key aspects, such as key players, product types, platforms, and applications of high-speed motors in an aircraft. Moreover, the research report offers insights into market trends, competitive landscape, market competition, product pricing, market status, and highlights key industry developments. In addition to the factors mentioned above, the market report encompasses several direct and indirect factors that have contributed to the sizing of the global market over recent years.

Report Scope & Segmentation