Global EVTOL Aircraft Market Share Likely to Surpass At a CAGR of 25% By 2030
The North American region holds the largest share of the global EVTOL Aircraft market.
According to Custom Market Insights (CMI), The Global EVTOL Aircraft Market Size was valued at USD 5.5 billion in 2021 and is estimated to reach USD 25 billion by the end of 2030 at a CAGR of approximately 25% during the forecast period 2022-2030.
The report examines the EVTOL Aircraft market’s drivers and restraints and their impact analysis. Also, the report mentions global opportunities prevailing in the EVTOL Aircraft market.
Browse the full “EVTOL Aircraft Market Size, Trends and Insights By Propulsion Type (Hybrid Electric, Fully Electric, Hydrogen Electric), By Lift Technology (Multirotor, Vectored Thrust, Lift plus Cruise), By System (Software, Batteries & Cells, Aerostructures, Electric Motor/Engine, Avionics, Others), By Application (Air Taxis, Private Transport, Cargo Transport, Air Ambulance & Medical Emergency, Air Shuttles & Air Metro, Last Mile Delivery, Inspection & Monitoring, Surveying & Mapping, Surveillance, Special Mission, Others), By Mode of Operation (Piloted, Autonomous), By Range (<= 200 km, > 200 km), By MTOW (>2,000 kg, 1,000–2,000 kg, 100–1000 kg, <100 kg), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030” report at ReportURL
EVTOL Aircraft Market: Overview
An electric power source is used by an eVTOL aircraft to hover, take off, and land vertically. Most eVTOLs also employ distributed electric propulsion technology, which entails fusing a sophisticated propulsion system into the airframe.
The increasing need for an alternative form of transportation, as well as for green energy and noise-free aircraft, as well as the rising use of eVTOL aircraft for freight applications are the primary factors driving the growth of this market. Several industry sectors have been impacted by COVID-19’s unexpected outbreak, with aviation suffering the most. The eVTOL aircraft market, however, does not appear to have been as significantly affected by the epidemic as the aviation sector as a whole. Military forces frequently employed electric UAVs for various tasks, including border security, but governments and law enforcement organizations only sometimes deployed them.
Commercial and civil uses for eVTOL aircraft include aerial photography and the transportation of medical supplies by businesses like Zipline. Due to periodic lockdowns and the implementation of social distancing norms worldwide, retail and other logistics industries are looking more and more toward using electric UAVs to deliver necessities. Businesses like Amazon and USP have already increased their use of electric drones for deliveries in the US. Electric drones are also being utilized more frequently in Africa, where EMS services deliver supplies like medicines and other necessities and move organs and blood between cities. These elements have made it possible for the market for eVTOL aircraft to withstand the overall effects of the COVID-19 epidemic on the world economy.
The EVTOL Aircraft market is subdivided into lift technology, system, propulsion type, mode of operation, MTOW, range, and application. By propulsion type, the hydrogen-electric segment market for eVTOL aircraft is anticipated to grow at the greatest CAGR over the forecast period. For eVTOL, an alternate power source is hydrogen fuel cells. Fuel cells that use hydrogen and oxygen to produce electricity have low maintenance requirements and are vibration-free. Fuel cells can potentially substitute electric batteries since they can quickly store energy and recharge.
By range, the >200 km segment eVTOL aircraft market is expected to expand at the greatest CAGR rate over the forecast period. Higher battery capacity is found in eVTOL aircraft with ranges greater than 200 km. This aircraft can be used for last-mile delivery, air taxis, and private transportation, among other things.
The North American region is estimated to dominate the global eVTOL market in 2021. Numerous market providers have successfully displayed the technologies to be applied with cutting-edge job solutions. The US Army End is increasing its investments to use the aircraft market’s services and help them reach the anticipated market worth by the end of 2030.
|Feature of the Report||Details|
|Market Size in 2021||USD 5.5 Billion|
|Projected Market Size in 2030||USD 25 Billion|
|CAGR Growth Rate||25% CAGR|
|Prominent Players||Airbus, Boeing, Bell Textron Inc., Eve Air Mobility, Opener, Lilium GmbH, EHang, Pipistrel Group, BETA Technologies, Volocopter GmbH, Heart Aerospace, Joby Aviation Inc., Archer Aviation Inc. , and Others|
|Key Segment||By Propulsion Type, Lift Technology, System, Application, Mode of Operation, Range, MTOW, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
Key Players Insights
Our market analysis includes a section specifically devoted to key players operating in the EVTOL Aircraft market. Our analysts overview each player’s financial statements, product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of globally mentioned competitors.
- Bell Textron Inc.
- Eve Air Mobility
- Lilium GmbH
- Pipistrel Group
- BETA Technologies
- Volocopter GmbH
- Heart Aerospace
- Joby Aviation Inc.
- Archer Aviation Inc.
The global EVTOL Aircraft market is segmented as follows:
By Propulsion Type
- Hybrid Electric
- Fully Electric
- Hydrogen Electric
By Lift Technology
- Vectored Thrust
- Lift plus Cruise
- Batteries & Cells
- Electric Motor/Engine
- Air Taxis
- Private Transport
- Cargo Transport
- Air Ambulance & Medical Emergency
- Air Shuttles & Air Metro
- Last Mile Delivery
- Inspection & Monitoring
- Surveying & Mapping
- Special Mission
By Mode of Operation
- <= 200 km
- > 200 km
- >2,000 kg
- 1,000–2,000 kg
- 100–1000 kg
- <100 kg
On the basis of Geography
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America