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In this paper we deduce, from analytical field solutions, the influence of leading design parameters on the performance of a radially magnetized, iron-cored, tubular permanent-magnet machine and its drive system. We derive analytical formulas for predicting the open-circuit electromotive force, the thrust force, the iron loss, and the winding resistance and inductances, as well as the converter losses. The force density, the machine and drive system efficiencies, and the power factor and converter volt-ampere (VA) rating are established as functions of a set of machine dimensional ratios, with due account of magnetic saturation and subject to a specified thermal constraint. We validate the utility and accuracy of the analytically derived formulas by finite-element calculations. Finally, we show that the design optimization of such a linear drive system must account for the losses and VA rating of the converter as well as the design parameters of the tubular machine.