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, 2021-2028”, the value of the market was estimated to be USD 2.33 billion in 2020.The sudden arrival of the COVID-19 pandemic has caused unprecedented upheavals in the aviation industry, shocking the aviation high speed motor market growth.
The principal factor for the negative impact of the pandemic on this market is the revenue shortfalls experienced by motor manufacturing companies when major economies, such as India and Japan, underwent lockdowns from March 2020 onwards.
Siemens, for instance, witnessed a 59.5% rise in its third-quarter earnings in 2020, triggered by the shutdown of its factories and plants.Sydney Seaplanes, Dante Aeronautical, and MagniX Announce Exciting PartnershipDante 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 MarketAviation high speed motors are the most important components in powering unmanned aerial vehicles (UAVs).
