This paper presents performance comparison between concentrated winding and distributed winding of IPMSM (Interior Permanent Magnet Synchronous Motors) which is recently used for light-weight railway applications. Motors are designed on various schemes and analyzed by using FEM (Finite Element Method) instead of EMCNM (Equivalent Magnetic Circuit Network Method) in order to take into account saturation and non-linear magnetic property. The overall performance such as torque, torque ripple, losses, demagnetization, efficiency, power density and so on are investigated in detail at the rated and maximum operating speed. The results of the analysis found that both concentrated and distributed winding IPMSMs are promising candidates for high power railway traction motor.