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Large‐scale design optimisation techniques enable the design of high‐performance electric machines. Electromagnetic 3D finite element analysis (FEA) is typically employed in optimisation studies for accurate analysis of axial flux permanent magnet (AFPM) machines, which require extensive computational resources. To reduce the computational burden, a FEA‐based mathematical method relying on the geometric and magnetic symmetry of coreless AFPM machines is proposed to estimate the machine performance indicators using the least number of FEA solutions, thereby significantly lowering the running time. This method is generally applicable to AFPM machines with low saturation effects and cogging torque as exemplified for a printed circuit board (PCB) stator coreless AFPM machine. To further reduce the computation time, a systematically simplified equivalent 3D FEA model for planar PCB coils integrated with this machine is also proposed. The practical implementation of the introduced method is elaborated based on an example optimisation study, and an analytical method for fast design scaling is also discussed. The results of the proposed approach are compared with detailed transient FEA results, and a prototype 26‐pole PCB stator coreless AFPM machine was also used to validate the results experimentally. [ABSTRACT FROM AUTHOR]