Asia Pacific EVTOL Aircraft Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Lift Technology, Propulsion Type, Application, and Operation Mode

The Asia Pacific eVTOL aircraft market is expected to grow from US$ 103.96 million in 2024 to US$ 324.91 million by 2028; it is estimated to grow at a CAGR of 20.1% from 2024 to 2028.

The aviation industry is one of the fastest-growing sources of the greenhouse gas emissions, driving global climate change. On January 11, 2021, the Environmental Protection Agency (EPA) issued a greenhouse gas (GHG) emissions standard for aircraft operating APAC to control their carbon emissions. In addition, in November 2021, EPA filed a litigation that formulated the commercial aircraft greenhouse gas (GHG) emission standards, which EPA promoted in early 2021. The development of electric propulsion-based eVTOL aircraft helps mitigate the environmental impact in terms of noise and pollutant emissions. Thus, government regulations and policies for reducing emissions drive the demand for electric propulsion-based eVTOL aircraft. Initiatives from key players and startups are increasing across the APAC. The startup will launch operations in 2024. As battery technology are improving over the years, eVTOL is becoming sustainable. eVTOL aircraft can fly for longer ranges and at higher speeds. Electric propulsion-based eVTOL can move into intra-city and inter-city aviation. The investments from key players are also growing. For instance, in January 2022, the ePlane Company, an eVTOL aircraft startup company, raised US$ 5 million in a Pre-Series A funding round led by Speciale Invest and Micelio. The investment was made to make unmanned air taxis. In addition, in January 2022, Jetson AB, a Swedish eVTOL company, completed the sale of the entire production of its eVTOL aircraft in 2022 and has an order of 100 units with delivery expected to start from 2023, along with over 3,000 pre-orders for further deliveries. Moreover, the increasing developments in the electric propulsion-based UAVs are also expected to boost the eVTOL aircraft during the forecast period. Also, the vendors across this market are initially focusing on the development of fully electric propulsion based eVTOL aircraft.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Asia Pacific eVTOL aircraft market . The Asia Pacific eVTOL aircraft market is expected to grow at a good CAGR during the forecast period.

Asia Pacific eVTOL aircraft market Segmentation

The Asia Pacific eVTOL aircraft market is segmented into lift technology, propulsion type, application, operation mode, and country.

• Based on lift technology, the Asia Pacific eVTOL aircraft market is segmented into multirotor, lift plus cruise, vectored thrust, and others. The lift plus cruise dominates the Asia Pacific eVTOL aircraft market in 2024.
• Based on propulsion type, the Asia Pacific eVTOL aircraft market is categorized into hybrid, fully electric, and electric hydrogen. The fully electric segment dominates the Asia Pacific eVTOL aircraft market in 2024.
• Based on application, the Asia Pacific eVTOL aircraft market is categorized into air taxi, Cargo Transport, last mile delivery, critical missions, inspection, surveying and mapping, and others. The air taxi segment dominates the Asia Pacific eVTOL aircraft market in 2024.
• Based on operation mode, the Asia Pacific eVTOL aircraft market is categorized into piloted, optionally piloted, and autonomous. The piloted segment dominates the Asia Pacific eVTOL aircraft market in 2024.
• Based on country, the Asia Pacific eVTOL aircraft market is segmented into China, Japan, South Korea, and Rest of Asia Pacific. The China segment dominates the Asia Pacific eVTOL aircraft market in 2024.

Key players dominating the Asia Pacific eVTOL aircraft market are Airbus, Bell Textron Inc., Boeing, Eve Air Mobility, Lilium GmBH, EHang, Pipistrel Group, Volocopter GmBH, and Archer Aviation Inc by Altair are among the leading companies in the Asia Pacific eVTOL aircraft market.