eVTOL Aircraft Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Continued Emphasis on Urban Air Mobility (UAM) to bolster the Demand for eVTOL Aircrafts

The electric Vertical Takeoff and Landing (eVTOL) aircraft market expected to reach at the market value of US$ 394.63 Mn in 2029. With development of autonomous aircraft technology, applications of electronic aircrafts expected to grow at rapid rate. Several market players have recognized an opportunity for passenger-carrying applications with small self-piloted aircraft. Such advancement have altered and continue to change the low-altitude Urban Air Mobility (UAM) environment. UAM presents an opportunity to provide seamless, safe and rapid transportation to mitigate existing and future challenges faced by urban areas. Almost 100,000 passenger electronic aircrafts expected to be in service worldwide by 2050. Autonomous flight technology advancements, electric propulsion and 5G communication networks expected to spawn on-demand air traveling services, intercity flights and scheduled airport shuttles among others. Urban air mobility operations majorly enabled by the vertical take-off and landing (VTOL) capability. Vertical mobility expected to become an inevitable part of overall urban mobility. Passenger eVTOL to play vital role here as they operate faster than its counterparts and are available on demand. Such technology also expected to be attractive and competitive way to cover longer distances since they require relatively few infrastructure investments and can service secondary & tertiary routes.

Fully Electric Propulsion Segment Accounted to be the Largest Contributor in eVTOL Aircraft Market

Utilization of Distributed Electric Propulsion (DEP) technology enables considerable efficiency improvements as it provides lift with higher efficiency especially in cruise phase. Engine failure accounted for over 18% of overall air travel accidents when shared with fuel management blunders. Electric propulsion is the preferred propulsion choice for the urban VTOL aircraft due to zero operational emissions. Over the years, significant amount of research has been directed towards lowering the upfront cost of the electric transportation. There has been significant amount of technology development across the globe, focusing majorly on batteries and charging infrastructure. Advancements in technology have resulted in battery technology evolving to a point where eVTOL aircrafts are on the verge of becoming viable in select mass-market applications. With constant emphasis on electrification of transportation facilities, the fully electric propulsion segment expected to be the largest segment across the forecast period.

North America to Garner the Largest Market Share

North America is expected to be the leading region in overall eVTOL aircraft market by 2029. With high adoption for advanced technology in North America, eVTOL aircraft market here projected to witness prominent growth rate across the forecast period. In 2015, road-traffic congestion resulted in consumption of 7.2 Bn person-hours as well as 3.5 Bn gallons of excess fuel consumed in the US. Transportation as whole accounted for almost 33% of CO2 emissions in the US, of which 80% are from trucks and cars traveling on the roadway system. Furthermore, Asia Pacific market accounted to be the fastest growing regional market across the forecast period. Growing population and rapidly growing urbanization in Asia Pacific expected to primarily drive the market growth here.

Key players of global eVTOL aircraft market include A³ by Airbus, Embraer S.A., Workhorse Group, Lilium, Lift Aircraft Inc., Kitty Hawk, Aurora Flight Sciences, Neva Aerospace, Volocopter GmbH, Karem Aircraft, Inc., Ehang, Bell Helicopter Textron Inc., Opener, Pipistrel, Joby Aviation and others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Key questions answered in this report

• What was the market size of eVTOL aircraft in 2020 and forecast up to 2029?
• Which is largest regional market for eVTOL aircraft?
• What are the key market trends observed in the eVTOL aircraft market?
• Which are the most promising lift technology type, application type, type of propulsion, MTOW, mode of operation and range in eVTOL aircraft market?
• Who are the key players leading the market?
• What are the key strategies adopted by the leading players in market?
• What are the key technological development trends across different geographies and sub-geographies?

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