The objective of this paper is presenting a comparative performance analysis between axial flux and radial flux permanent magnet synchronous machines (PMSMs) dedicated to a 550-W wind turbine application. The outer diameter is fixed for both structures and the modeling is carried out in 3D by means of the finite element method (FEM) using the Multiphysics program ANSYS. The performances of the axial flux and radial flux machines for the same output power and at the same rotor speed are evaluated by comparing their efficiency regarding the material consumption of the active parts and eventually predicting their costs. The obtained results promote the axial flux topology as the best solution for small-scale wind turbine applications.