The global aviation high speed motor market size is projected to reach USD 3.74 billion by 2028, exhibiting a CAGR of 5.62% during the forecast period. According to a recent report by Fortune Business Insights™, titled “Aviation High Speed Motor Market, 2023-2028”, the value of the market was estimated to be USD 2.33 billion in 2023.
Informational Source:
https://www.fortunebusinessinsights.com/aviation-high-speed-motor-market-105140
Sydney Seaplanes, Dante Aeronautical, and MagniX Announce Exciting Partnership
Dante Aeronautical, Sydney Seaplanes, and MagniX announced a path-breaking partnership in December 2020, under which the companies will co-develop the world’s first-ever Electric Cessna Caravan Supplemental Type Certificate (STC) program. Leveraging MagniX’s aviation high speed motor propulsion system, Dante and Sydney will convert the Cessna Caravan into a fully-electric aircraft that will be certified by the Australian Civil Aviation Safety Authority. Set to be completed by 2023, the STC will position Sydney Seaplanes as an undisputed leader in electric aircraft operations, and Dante as the technology integrator, across Australia, New Zealand, and the South Pacific.
Increasing Deployment of UAVs for Military Operations to Fuel the Market
Aviation high speed motors are the most important components in powering unmanned aerial vehicles (UAVs). These aerial machines are being increasingly deployed by armed forces around the world for military operations in the context of national security, cross-border tensions, and growing terrorist activities. For example, in March 2021, the Indian Army leased four Heron UAVs from Israel Aerospace Industries to counter aggression by Chinese troops along the India-China border. Furthermore, defense agencies are also collaborating with aviation companies to build next-generation drones to enhance their defense arsenal. In February 2021, for instance, the US Defense Advanced Research Projects Agency (DARPA) awarded contracts to Lockheed Martin, Northrop Grumman, and General Atomics to craft air-to-air combat drones under its LongShot program. Such prolific progress in UAV technology will spawn incredible opportunities for players in this market and elevate its potential.
Commercial Aircraft Segment to Occupy Commanding Position
In terms of platform, this market has been divided into commercial aircraft, general aviation aircraft, business aircraft, electric aircraft, UAVs, and helicopters. The commercial aircraft segment led the market in 2020 with a share of 22.50%, owing to the soaring demand for commercial aircraft worldwide. As a consequence, domestic airliners are rapidly procuring commercial airplanes from aviation companies. For example, in March 2021, United Airlines placed an order for an additional 25 jets from Boeing’s 737 Max fleet to prepare itself for a rebound from the coronavirus crisis.
By type, the global market has been segregated into AC motor and DC motor. Based on application, the market has been segmented into propulsion system, flight control, and fuel management system. On the basis of geography, the market has been classified into North America, Europe, Asia Pacific, and the Rest of the World.
North America to Emerge as the Most Profitable Region for Market Players
- North America is expected to lead the aviation high speed motor market share in the forthcoming period owing to the consistently high demand for domestic air travel in the US and Canada. This will make the region highly profitable for market players throughout the forecast period. In 2020, the region’s market size was at USD 0.61 billion.
- The market for aviation high speed motors is anticipated to enjoy excellent growth prospects in Latin America due to the increasing tourist activities in Brazil and Argentina.
Partnerships with Startups by Key Players to Energize Market Competition
The leading competitors in this market are actively partnering with startups to develop and deploy aviation high speed motor units to power electric aircraft. These collaborations are significant as they are enabling key players to expand their product portfolios as well as solidify their presence in the market. Moreover, such partnerships are facilitating technology exchanges that can rapidly enhance the growth potential of this market.
Industry Development:
- December 2020: MagniX was selected by the UK-based startup Faradair to power its proposed fleet of 300 electric aircraft. The startup aims at releasing its 18-passenger airplanes by 2026, which will be built in the UK itself.
List of Key Players Profiled in the Aviation High Speed Motor Market Report:
- MGM COMPRO (Czechia)
- H3X Technologies Inc. (The U.S.)
- NEMA Ltd. (The U.K.)
- Allied Motion Technologies (The U.S.)
- Meggit PLC (The U.K.)
- Pipistrel (Slovenia)
- Xoar International LLC (The U.S.)
- EMRAX d.o.o. (Slovenia)
- Windings Inc. (The U.S.)
- ARC Systems Inc. (The U.S.)
- Siemens (Germany)
- Safran Electrical Power (France)
- MagniX (The U.S.)
