Electro-Mechanical Batteries have important advantages compared with chemical batteries, especially in Low Earth Orbit satellites applications. High speed, slotless, external rotor, brushless DC machines are proposed and used in these systems as Motor/Generator. A simplified analytic design method is given for this type of machines and, the optimization of machine in order to have maximum efficiency and minimum volume and weight are given in this paper. Particle swarm optimization (PSO) is used as the optimization algorithm and the finite element-based simulations are used to confirm the design and optimization process and show less than 6% error in parametric design.