The aviation industry is undergoing electrification due to the increased global focus on reducing emissions in air traffic. Regarding the volatility of raw material prices, one main objective is the increase in the specific power of the motor. This matches the ambitious targets of the CoE project (Center of Excellence) in Finland on high-speed electric motors. The targeted specific power is 20 kW/kg. In this work, motors are designed and optimized for a fully electric regional aircraft. motors with different slot/pole configurations and rotational speed values are studied to determine the advantage of increasing speed in terms of weight reduction. As increasing speed requires the use of a gearbox, the overall weight of the motor and the gearbox is evaluated in post-processing, which allows for determining the impact of high speed on the overall weight. An optimization tool coupled with an electromagnetic and mechanical analysis is used to optimize 1 MW surface mounted permanent magnet synchronous motors (S-PMSMs) for given specifications of regional electric aircraft. Optimization results indicate that there is considerable gain in terms of overall weight only when increasing the speed to the range of 10,000–15,000 rpm.