The global eVTOL aircraft market size reached US$ 12.4 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 35.1 Billion by 2032, exhibiting a growth rate (CAGR) of 12.26% during 2023-2032. The growing demand for lighter and more aerodynamic designs, along with the development of advanced materials, rising demand for transportation that bypass ground-level traffic, and increasing preference for eco-friendly transportation alternatives to reduce carbon dioxide emissions are some of the major factors propelling the market.
An electric vertical takeoff and landing (eVTOL) aircraft is an innovative mode of transportation that utilizes electric propulsion systems to achieve vertical takeoff and landing capabilities. It is designed with multiple electric rotors or ducted fans that enable it to ascend and descend vertically. They offer efficient, environmentally friendly, and quiet aerial transportation options. As it is widely employed in various applications, such as urban air taxis, cargo delivery, and emergency medical services, the demand for eVTOL is rising worldwide.
At present, the increasing utilization of eVTOLs due to their enhanced convenience for commuting is bolstering the growth of the market. Besides this, the growing demand for eVTOLs, as they offer lower operating costs compared to traditional helicopters, is offering a positive market outlook. In line with this, the rising popularity of on-demand air travel among individuals is propelling the growth of the market.
Apart from this, the increasing preference for urban air mobility (UAM) to address mobility challenges and enhance connectivity is contributing to the growth of the market. Furthermore, advancements in battery technology to extend the range and endurance of eVTOL aircraft are supporting the growth of the market. Moreover, the increasing demand for quick travel options among individuals is strengthening the growth of the market.
eVTOL Aircraft Market Trends/Drivers:
In addition, they have a lower noise profile as compared to conventional helicopters. Governing agencies worldwide are encouraging the adoption of cleaner and greener transportation modes, which is offering a positive market outlook. Furthermore, advancements in battery technology are extending the range and efficiency of these aircraft, which makes them even more environmentally attractive.
eVTOL Aircraft Industry Segmentation:
The publisher provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on lift technology, mode of operation, maximum take-off weight (MTOW), range, propulsion type, and application.
Breakup by Maximum Take-off Weight (MTOW):
North America held the biggest market share due to the presence of established aviation giants. Additionally, favorable government initiatives for cleaner transportation systems are offering a positive market outlook. Apart from this, the rising need for transportation solutions that address urban mobility challenges effectively is contributing to the growth of the market in the North America region. In addition, the increasing demand for convenient commuting options among individuals is propelling the growth of the market.
In line with this, companies are working closely with aviation authorities to develop and certify their aircraft, creating a pathway for safe and legal operations. Furthermore, some companies are investing in the development of infrastructure required for the operations of aircraft, such as the construction of vertiports, charging stations, and ground support equipment.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
2. What is the expected growth rate of the global eVTOL aircraft market during 2024-2032?
3. What are the key factors driving the global eVTOL aircraft market?
4. What has been the impact of COVID-19 on the global eVTOL aircraft market?
5. What is the breakup of the global eVTOL aircraft market based on the lift technology?
6. What is the breakup of the global eVTOL aircraft market based on the mode of operation?
7. What is the breakup of the global eVTOL aircraft market based on the Maximum Take-off Weight (MTOW)?
8. What is the breakup of the global eVTOL aircraft market based on the range?
9. What is the breakup of the global eVTOL aircraft market based on the propulsion type?
10. What is the breakup of the global eVTOL aircraft market based on the application?
11. What are the key regions in the global eVTOL aircraft market?
12. Who are the key players/companies in the global eVTOL aircraft market?
An electric vertical takeoff and landing (eVTOL) aircraft is an innovative mode of transportation that utilizes electric propulsion systems to achieve vertical takeoff and landing capabilities. It is designed with multiple electric rotors or ducted fans that enable it to ascend and descend vertically. They offer efficient, environmentally friendly, and quiet aerial transportation options. As it is widely employed in various applications, such as urban air taxis, cargo delivery, and emergency medical services, the demand for eVTOL is rising worldwide.
At present, the increasing utilization of eVTOLs due to their enhanced convenience for commuting is bolstering the growth of the market. Besides this, the growing demand for eVTOLs, as they offer lower operating costs compared to traditional helicopters, is offering a positive market outlook. In line with this, the rising popularity of on-demand air travel among individuals is propelling the growth of the market.
Apart from this, the increasing preference for urban air mobility (UAM) to address mobility challenges and enhance connectivity is contributing to the growth of the market. Furthermore, advancements in battery technology to extend the range and endurance of eVTOL aircraft are supporting the growth of the market. Moreover, the increasing demand for quick travel options among individuals is strengthening the growth of the market.
eVTOL Aircraft Market Trends/Drivers:
Rising demand for transportation that bypass ground-level traffic
Urban congestion and traffic gridlock are becoming a pervasive issue in many metropolitan areas worldwide. In addition, the rising demand for transportation that bypasses ground-level traffic is bolstering the growth of the market. Apart from this, eVTOL aircraft can take off and land vertically, which means they can utilize existing infrastructure, such as helipads and vertiports, while also accessing more confined urban spaces. Moreover, it assists in reducing travel times and making commuting more efficient and enjoyable, which is offering a positive market outlook. In line with this, the rising adoption of eVTOLs to address the need for congestion relief and enhanced urban mobility is supporting the growth of the market.Growing preference for eco-friendly transportation alternatives
The rising preference for eco-friendly transportation alternatives is propelling the growth of the market. In line with this, there is an increase in concerns over climate change and air pollution among the masses across the globe. Besides this, these aircraft are powered by electricity that produces zero emissions during flight while aligning with sustainability goals.In addition, they have a lower noise profile as compared to conventional helicopters. Governing agencies worldwide are encouraging the adoption of cleaner and greener transportation modes, which is offering a positive market outlook. Furthermore, advancements in battery technology are extending the range and efficiency of these aircraft, which makes them even more environmentally attractive.
Increasing demand for lighter and more aerodynamic designs
Rapid technological advancements in these aircraft, such as electric propulsion, battery energy density, and autonomous flight systems, assist in providing a more viable transportation solution. Electric propulsion systems offer high efficiency and have low maintenance requirements as compared to traditional internal combustion engines. Moreover, the rising development of advanced materials to offer lighter and more aerodynamic eVTOL designs is bolstering the growth of the market. Simultaneously, autonomous flight technology is enhancing the safety and operational capabilities of aircraft, which is contributing to the growth of the market. As a result, these technological advancements assist in the manufacturing of reliable and cost-effective aircraft.eVTOL Aircraft Industry Segmentation:
The publisher provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on lift technology, mode of operation, maximum take-off weight (MTOW), range, propulsion type, and application.
Breakup by Lift Technology:
- Vectored Thrust
- Multirotor
- Lift Plus Cruise
Multirotor accounts for the majority of the market share
Breakup by Mode of Operation:
- Piloted
- Autonomous
- Semi-Autonomous
Semi-autonomous holds the largest share
Breakup by Maximum Take-off Weight (MTOW):
- < 250 Kg
- 250-500 Kg
- 500-1500 Kg
- >1500 Kg
Breakup by Range:
- 0-200 Km
- 200-500 Km
200-500 Km exhibits a clear dominance in the market
Breakup by Propulsion Type:
- Battery-Electric
- Hybrid-Electric
- Hydrogen-Electric
Battery-electric dominates the market
Breakup by Application:
- Commercial
- Air Taxi
- Delivery Drones
- Military
- Cargo Transport
- Combat Mission
- Emergency Medical Service
- Air Ambulance
- Medical Cargo Transport
Commercial is the predominant market segment
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
North America leads the market, accounting for the largest eVTOL aircraft market share
North America held the biggest market share due to the presence of established aviation giants. Additionally, favorable government initiatives for cleaner transportation systems are offering a positive market outlook. Apart from this, the rising need for transportation solutions that address urban mobility challenges effectively is contributing to the growth of the market in the North America region. In addition, the increasing demand for convenient commuting options among individuals is propelling the growth of the market.
Competitive Landscape:
Key players are investing in research and development (R&D) activities to enhance the technology and performance of their aircraft. This includes improving battery technology, propulsion systems, aerodynamics, and autonomous flight capabilities. In addition, they are building and testing prototypes of the aircraft to validate their designs and performance. Apart from this, major manufacturers are conducting extensive flight testing and simulations to ensure safety and reliability.In line with this, companies are working closely with aviation authorities to develop and certify their aircraft, creating a pathway for safe and legal operations. Furthermore, some companies are investing in the development of infrastructure required for the operations of aircraft, such as the construction of vertiports, charging stations, and ground support equipment.
The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:
- Airbus SE
- Archer Aviation Inc.
- Beta Technologies
- Guangzhou EHang Intelligent Technology Co. Ltd
- Lift Aircraft Inc.
- Lilium GmbH
- Moog Inc.
- Piasecki Aircraft Corporation
- Pipistrel d.o.o Ajdovšcina
- Vertical Aerospace Group Ltd.
- Volocopter GmbH
- Wisk Aero LLC
- Xti Aircraft Company
Recent Developments:
- In May 2023, Lilium and Air-Dynamic SA signed an agreement that includes pre-delivery payments for up to five of Lilium’s eVTOL aircraft.
- In 2023, Volocopter, the pioneer of Urban Air Mobility (UAM), and Safran Electrical & Power, one of the world’s leaders in aircraft electrical systems, signed an agreement to develop a next generation power train for electric vertical takeoff and landing (eVTOL) aircraft.
- In October 2022, Wisk Aero revealed its 6th-generation air taxi, an autonomous electric vertical take-off and landing (eVTOL) aircraft that is designed to carry passengers up to 90 miles. The company claims that this vehicle is the first autonomous eVTOL to be a candidate for certification by the Federal Aviation Administration.
Key Questions Answered in This Report
1. How big is the global eVTOL aircraft market?2. What is the expected growth rate of the global eVTOL aircraft market during 2024-2032?
3. What are the key factors driving the global eVTOL aircraft market?
4. What has been the impact of COVID-19 on the global eVTOL aircraft market?
5. What is the breakup of the global eVTOL aircraft market based on the lift technology?
6. What is the breakup of the global eVTOL aircraft market based on the mode of operation?
7. What is the breakup of the global eVTOL aircraft market based on the Maximum Take-off Weight (MTOW)?
8. What is the breakup of the global eVTOL aircraft market based on the range?
9. What is the breakup of the global eVTOL aircraft market based on the propulsion type?
10. What is the breakup of the global eVTOL aircraft market based on the application?
11. What are the key regions in the global eVTOL aircraft market?
12. Who are the key players/companies in the global eVTOL aircraft market?
Table of Contents
1 Preface3 Executive Summary14 Value Chain Analysis16 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global eVTOL Aircraft Market
6 Market Breakup by Lift Technology
7 Market Breakup by Mode of Operation
8 Market Breakup by Maximum Take-off Weight (MTOW)
9 Market Breakup by Range
10 Market Breakup by Propulsion Type
11 Market Breakup by Application
12 Market Breakup by Region
13 SWOT Analysis
15 Porters Five Forces Analysis
17 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Airbus SE
- Archer Aviation Inc.
- Beta Technologies
- Guangzhou EHang Intelligent Technology Co. Ltd
- Lift Aircraft Inc.
- Lilium GmbH
- Moog Inc.
- Piasecki Aircraft Corporation
- Pipistrel d.o.o Ajdovšcina
- Vertical Aerospace Group Ltd.
- Volocopter GmbH
- Wisk Aero LLC
- Xti Aircraft Company
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 150 |
| Published | August 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 12.4 Billion |
| Forecasted Market Value ( USD | $ 35.1 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
