The electric aircraft market size has grown rapidly in recent years. It will grow from $10.21 billion in 2024 to $11.68 billion in 2025 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to urban air mobility (UAM) initiatives, rising fuel costs, demonstration flights and prototypes, environmental concerns, government initiatives and incentives.
The electric aircraft market size is expected to see rapid growth in the next few years. It will grow to $19.42 billion in 2029 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing global air traffic, advancements in energy storage, regulatory support and certification processes, global efforts to achieve net-zero emissions. Major trends in the forecast period include development of regional and short-haul electric aircraft, advancements in battery technology, hybrid electric aircraft solutions, focus on noise reduction, increasing investments in electric aviation.
A surge in global air passenger volume is anticipated to fuel the electric aircraft market. Airlines that focus on transporting individuals are known as passenger airlines. Air travelers are increasingly choosing air travel due to its advantages, including speed and the rise in international travel, among others. Electric aircraft help reduce travel costs for passengers while also being environmentally sustainable. For example, in March 2023, the Bureau of Transportation Statistics, a US-based government agency, reported that US airlines carried 853 million passengers in 2022, up from 658 million in 2021. Consequently, the increase in global air passenger volume is driving demand for the electric aircraft market.
The growing volatility in conventional fuel prices is expected to accelerate the growth of the electric aircraft market in the upcoming years. Conventional fuels refer to long-established energy sources such as coal, diesel, and petrol, which are commonly used for various applications, including electricity and heat production. These fuels are often employed in airplanes for propulsion, particularly aviation fuels derived from fossil sources. For instance, in August 2022, the Bureau of Transportation Statistics, a US-based federal agency that collects, analyzes, and shares data on transportation, noted that regular motor gasoline prices rose by 49% between January and June 2022, while diesel fuel prices saw a slightly larger increase of 55%. Thus, the rising volatility in conventional fuel prices is propelling the electric aircraft market.
Technological advancements stand out as a key trend shaping the electric aircraft market. Major players in the industry are actively developing novel technologies to enhance aircraft capabilities, allowing for longer routes and improved performance. Rolls Royce, a prominent UK-based aero-engine maker, introduced turbogenerator technology in June 2022. This technology includes the development of a new compact engine for hybrid-electric applications, serving as an on-board power source with scalable power supplies. Rolls-Royce aims to offer a power range of 500 kW to 1200 kW, showcasing a commitment to advancing electric propulsion solutions in the aviation sector.
Major companies in the electric aircraft market are embracing a strategic partnership approach to support the aviation industry's transition toward sustainability. Strategic partnerships involve companies utilizing each other's strengths and resources to achieve mutual benefits and success. For example, in September 2022, Saab AB, a Sweden-based aerospace and defense firm, announced a collaboration with Heart Aerospace focused on subsystem supply and exploring potential new areas for cooperation, including manufacturing and certification. This highlights Saab AB's commitment to advanced technology and eco-friendly aviation solutions. As a leader in commercial electric aviation, Heart Aerospace is poised to benefit from Saab AB's expertise in developing innovative technological solutions to shape the future of aviation.
In April 2022, Textron Inc., a US-based conglomerate, successfully completed the acquisition of Pipistrel for $235 million. This strategic move integrates Pipistrel into Textron's newly established Textron eAviation division. The acquisition aligns with Textron's vision of advancing sustainable aviation, encompassing urban air mobility, general aviation, freight, and special missions. Pipistrel, a Slovenia-based electric aircraft manufacturer, brings its expertise in electric airplane design, development, and certification to enhance Textron's position in the evolving aviation landscape.
Major companies operating in the electric aircraft market are Airbus Yuneec Holding Limited, The Boeing Company, Lilium GmbH, Safran SA, Bye Aerospace Inc., Honeywell International Inc., Rolls-Royce Holding PLC, Aerospace Limited, Electric Aircraft Corporation, Aero Electric Aircraft Corp., Airspace Experience Technologies LLC, Ampaire Inc., BAE Systems PLC, Beta Technologies Inc., Blackbird Aero, Cessna Aircraft company, DigiSky SkySpark, Electravia SARL, Elroy Air Technologies Inc., Eviation Aircraft Ltd., Flight Design General Aviation GmbH, Harbour Air Seaplanes, Heart Aerospace AB, Joby Aviation Inc., Lange Aviation GmbH, Pipistrel d.o.o Ajdovscina, RTX Corporation, Siemens AG, Vertical Aerospace Ltd.
North America was the largest region in the electric aircraft market in 2024. The regions covered in the electric aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Electric aircraft are a type of air transportation that utilizes batteries to power an electric motor, replacing the traditional use of jet fuel to drive an engine. These aircraft consist of a motor responsible for converting electrical energy into mechanical energy and a battery to store and supply the required power.
The main categories of electric aircraft are fixed-wing, rotary-wing, and hybrid-wing. Fixed-wing aircraft encompass planes that utilize jet engines or propellers for forward movement, with wings that remain stationary. These aircraft can be further classified based on takeoff and landing capabilities, including CTOL (Conventional Takeoff and Landing), STOL (Short Takeoff and Landing), and VTOL (Vertical Takeoff and Landing). The technologies involved in electric aircraft cover various systems such as batteries, electric motors, aerostructures, avionics, software, and more. These aircraft are applicable in diverse sectors like commercial, military, and other specialized types, including regional transport aircraft, business jets, and light and ultralight aircraft.
The electric aircraft market research report is one of a series of new reports that provides electric aircraft market statistics, including electric aircraft industry global market size, regional shares, competitors with an electric aircraft market share, detailed electric aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the electric aircraft industry. This electric aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electric aircraft market consists of sales of ultralight and light electric aircraft. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The electric aircraft market size is expected to see rapid growth in the next few years. It will grow to $19.42 billion in 2029 at a compound annual growth rate (CAGR) of 13.5%. The growth in the forecast period can be attributed to increasing global air traffic, advancements in energy storage, regulatory support and certification processes, global efforts to achieve net-zero emissions. Major trends in the forecast period include development of regional and short-haul electric aircraft, advancements in battery technology, hybrid electric aircraft solutions, focus on noise reduction, increasing investments in electric aviation.
A surge in global air passenger volume is anticipated to fuel the electric aircraft market. Airlines that focus on transporting individuals are known as passenger airlines. Air travelers are increasingly choosing air travel due to its advantages, including speed and the rise in international travel, among others. Electric aircraft help reduce travel costs for passengers while also being environmentally sustainable. For example, in March 2023, the Bureau of Transportation Statistics, a US-based government agency, reported that US airlines carried 853 million passengers in 2022, up from 658 million in 2021. Consequently, the increase in global air passenger volume is driving demand for the electric aircraft market.
The growing volatility in conventional fuel prices is expected to accelerate the growth of the electric aircraft market in the upcoming years. Conventional fuels refer to long-established energy sources such as coal, diesel, and petrol, which are commonly used for various applications, including electricity and heat production. These fuels are often employed in airplanes for propulsion, particularly aviation fuels derived from fossil sources. For instance, in August 2022, the Bureau of Transportation Statistics, a US-based federal agency that collects, analyzes, and shares data on transportation, noted that regular motor gasoline prices rose by 49% between January and June 2022, while diesel fuel prices saw a slightly larger increase of 55%. Thus, the rising volatility in conventional fuel prices is propelling the electric aircraft market.
Technological advancements stand out as a key trend shaping the electric aircraft market. Major players in the industry are actively developing novel technologies to enhance aircraft capabilities, allowing for longer routes and improved performance. Rolls Royce, a prominent UK-based aero-engine maker, introduced turbogenerator technology in June 2022. This technology includes the development of a new compact engine for hybrid-electric applications, serving as an on-board power source with scalable power supplies. Rolls-Royce aims to offer a power range of 500 kW to 1200 kW, showcasing a commitment to advancing electric propulsion solutions in the aviation sector.
Major companies in the electric aircraft market are embracing a strategic partnership approach to support the aviation industry's transition toward sustainability. Strategic partnerships involve companies utilizing each other's strengths and resources to achieve mutual benefits and success. For example, in September 2022, Saab AB, a Sweden-based aerospace and defense firm, announced a collaboration with Heart Aerospace focused on subsystem supply and exploring potential new areas for cooperation, including manufacturing and certification. This highlights Saab AB's commitment to advanced technology and eco-friendly aviation solutions. As a leader in commercial electric aviation, Heart Aerospace is poised to benefit from Saab AB's expertise in developing innovative technological solutions to shape the future of aviation.
In April 2022, Textron Inc., a US-based conglomerate, successfully completed the acquisition of Pipistrel for $235 million. This strategic move integrates Pipistrel into Textron's newly established Textron eAviation division. The acquisition aligns with Textron's vision of advancing sustainable aviation, encompassing urban air mobility, general aviation, freight, and special missions. Pipistrel, a Slovenia-based electric aircraft manufacturer, brings its expertise in electric airplane design, development, and certification to enhance Textron's position in the evolving aviation landscape.
Major companies operating in the electric aircraft market are Airbus Yuneec Holding Limited, The Boeing Company, Lilium GmbH, Safran SA, Bye Aerospace Inc., Honeywell International Inc., Rolls-Royce Holding PLC, Aerospace Limited, Electric Aircraft Corporation, Aero Electric Aircraft Corp., Airspace Experience Technologies LLC, Ampaire Inc., BAE Systems PLC, Beta Technologies Inc., Blackbird Aero, Cessna Aircraft company, DigiSky SkySpark, Electravia SARL, Elroy Air Technologies Inc., Eviation Aircraft Ltd., Flight Design General Aviation GmbH, Harbour Air Seaplanes, Heart Aerospace AB, Joby Aviation Inc., Lange Aviation GmbH, Pipistrel d.o.o Ajdovscina, RTX Corporation, Siemens AG, Vertical Aerospace Ltd.
North America was the largest region in the electric aircraft market in 2024. The regions covered in the electric aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the electric aircraft market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Electric aircraft are a type of air transportation that utilizes batteries to power an electric motor, replacing the traditional use of jet fuel to drive an engine. These aircraft consist of a motor responsible for converting electrical energy into mechanical energy and a battery to store and supply the required power.
The main categories of electric aircraft are fixed-wing, rotary-wing, and hybrid-wing. Fixed-wing aircraft encompass planes that utilize jet engines or propellers for forward movement, with wings that remain stationary. These aircraft can be further classified based on takeoff and landing capabilities, including CTOL (Conventional Takeoff and Landing), STOL (Short Takeoff and Landing), and VTOL (Vertical Takeoff and Landing). The technologies involved in electric aircraft cover various systems such as batteries, electric motors, aerostructures, avionics, software, and more. These aircraft are applicable in diverse sectors like commercial, military, and other specialized types, including regional transport aircraft, business jets, and light and ultralight aircraft.
The electric aircraft market research report is one of a series of new reports that provides electric aircraft market statistics, including electric aircraft industry global market size, regional shares, competitors with an electric aircraft market share, detailed electric aircraft market segments, market trends and opportunities, and any further data you may need to thrive in the electric aircraft industry. This electric aircraft market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The electric aircraft market consists of sales of ultralight and light electric aircraft. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Electric Aircraft Market Characteristics3. Electric Aircraft Market Trends and Strategies4. Electric Aircraft Market - Macro Economic Scenario Including the Impact of Interest Rates, Inflation, Geopolitics, and the Recovery from COVID-19 on the Market32. Global Electric Aircraft Market Competitive Benchmarking and Dashboard33. Key Mergers and Acquisitions in the Electric Aircraft Market34. Recent Developments in the Electric Aircraft Market
5. Global Electric Aircraft Growth Analysis and Strategic Analysis Framework
6. Electric Aircraft Market Segmentation
7. Electric Aircraft Market Regional and Country Analysis
8. Asia-Pacific Electric Aircraft Market
9. China Electric Aircraft Market
10. India Electric Aircraft Market
11. Japan Electric Aircraft Market
12. Australia Electric Aircraft Market
13. Indonesia Electric Aircraft Market
14. South Korea Electric Aircraft Market
15. Western Europe Electric Aircraft Market
16. UK Electric Aircraft Market
17. Germany Electric Aircraft Market
18. France Electric Aircraft Market
19. Italy Electric Aircraft Market
20. Spain Electric Aircraft Market
21. Eastern Europe Electric Aircraft Market
22. Russia Electric Aircraft Market
23. North America Electric Aircraft Market
24. USA Electric Aircraft Market
25. Canada Electric Aircraft Market
26. South America Electric Aircraft Market
27. Brazil Electric Aircraft Market
28. Middle East Electric Aircraft Market
29. Africa Electric Aircraft Market
30. Electric Aircraft Market Competitive Landscape and Company Profiles
31. Electric Aircraft Market Other Major and Innovative Companies
35. Electric Aircraft Market High Potential Countries, Segments and Strategies
36. Appendix
Executive Summary
Electric Aircraft Global Market Report 2025 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on electric aircraft market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for electric aircraft? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric aircraft market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Type: Fixed Wing; Rotary Wing; Hybrid Wing2) by Technology: CTOL; STOL; VTOL
3) by System: Batteries; Electric Motors; Aerostructures; Avionics; Software; Other Systems
4) by Platform: Regional Transport Aircraft; Business Jets; Light and Ultralight Aircraft
5) by Application: Commercial; Military; Other Applications
Subsegments:
1) by Fixed Wing: Electric Airplanes; E-Regional Aircraft; Electric Cargo Aircraft2) by Rotary Wing: Electric Helicopters; eVTOL (Electric Vertical Takeoff and Landing) Aircraft
3) by Hybrid Wing: Hybrid Electric Aircraft; Convertible Aircraft
Key Companies Mentioned: Airbus Yuneec Holding Limited; the Boeing Company; Lilium GmbH; Safran SA; Bye Aerospace Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
Some of the major companies featured in this Electric Aircraft market report include:- Airbus Yuneec Holding Limited
- The Boeing Company
- Lilium GmbH
- Safran SA
- Bye Aerospace Inc.
- Honeywell International Inc.
- Rolls-Royce Holding PLC
- Aerospace Limited
- Electric Aircraft Corporation
- Aero Electric Aircraft Corp.
- Airspace Experience Technologies LLC
- Ampaire Inc.
- BAE Systems PLC
- Beta Technologies Inc.
- Blackbird Aero
- Cessna Aircraft company
- DigiSky SkySpark
- Electravia SARL
- Elroy Air Technologies Inc.
- Eviation Aircraft Ltd.
- Flight Design General Aviation GmbH
- Harbour Air Seaplanes
- Heart Aerospace AB
- Joby Aviation Inc.
- Lange Aviation GmbH
- Pipistrel d.o.o Ajdovscina
- RTX Corporation
- Siemens AG
- Vertical Aerospace Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | February 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 11.68 Billion |
| Forecasted Market Value ( USD | $ 19.42 Billion |
| Compound Annual Growth Rate | 13.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
