Embraer and Nidec Corporation, two leading engineering conglomerates from Japan and Brazil respectively, are celebrating the unconditional approval from all relevant regulatory authorities for the establishment of their joint venture, Nidec Aerospace LLC. This collaborative venture aims to harness their collective expertise to develop Electric Propulsion Systems (EPS) for the aerospace industry. Nidec Aerospace is expected to invest more than USD 77 million in the coming years, with the goal of commencing mass production by 2026. This ambitious investment reflects the commitment to advancing the electrification of aviation and contributing to the growth and sustainability of the aerospace industry.
This partnership, unveiled at the Paris Air Show in June, intends to tap into new opportunities by offering a diverse portfolio of products and services on a global scale, primarily driven by the growth of the Urban Air Mobility (UAM) sector. Morgan Stanley Research estimates that the UAM market could reach a value of USD 1.5 trillion by 2040, making it a substantial and promising market.