The ultra-high-speed electric air compressor (UHSEAC) is affected by the electromagnetic torque components of the ultra-high-speed permanent magnet synchronous motor (UHSPMSM) during wide-range speed regulation, resulting in intense speed fluctuation. Electromagnetic torque components are generated by the effects of permanent magnet field harmonics, stator slotting, and current harmonics. It is very important to conduct simulation comparisons and theoretical descriptions of different sources of pulsation factors. In this paper, firstly, the electromagnetic torque model of UHSPMSM with a rated speed of 80,000 rpm is constructed and verified by an experimental bench. Secondly, the electromagnetic torque components of UHSPMSM are extracted on the basis of the electromagnetic torque model. Finally, the electromagnetic torque components’ characteristic law is investigated under different ultra-high-speed operating conditions. The results show that under ultra-high-speed operation, the frequency and amplitude of electromagnetic torque components become larger with increasing speed. And the amplitude of electromagnetic torque components becomes larger with increasing torque. This paper constructs the observation object of the high-frequency state observer and does the preliminaries for the design of the UHSEAC controller.