eVTOL Aircraft Market
eVTOL Aircraft Market Size was valued at USD 0.7 billion in 2022. The eVTOL Aircraft market industry is projected to grow from USD 0.9 Billion in 2023 to USD 4.46 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 30.30% during the forecast period (2023 - 2030).
eVTOL aircraft stands for electric vertical takeoff and landing. This is a system that deals in autonomous electric aircraft which offer ameliorated services in the name of safety and comfort. Also, they help in producing lower noise pollution. The eVTOL Aircraft Market is gearing up on its operational efficiency with a motive to improve customer experience by delivering flexibility and convenience. Similarly, it helps in fast travel. These are electric aircraft and perform concise functions with good speed there are significant suppliers of the assistance of the eVTOL aircraft infeasible solutions for communication and a more reliable client experience. Because of the vast worldwide expansion and key players contributing substantially to the sector of research and development, the growth in the eVTOL aircraft market forecast is augured.
The eVTOL aircraft market belongs to the next generation and, is an electric aircraft that's tendering esteemed services like reduction in the noise being created with landing and taking-off. There's a mushrooming necessity for speedy transportation models to curb the boosting levels of traffic in urban localities.
The spread of the novel coronavirus has reached unprecedented proportions in the world economy. Most economic sectors have been affected, with aviation being one of the hardest hit. The challenge is greater for companies involved in the eVTOL Aircraft Market. Governments are attempting to allocate appropriate budget sections while collaborating with companies to increase workforce interactions to overcome the pandemic's effects and emerge with an exemplary market valuation by the end of the next decade.
Regional Analysis
The Global eVTOL Aircraft Market is divided into five regions: North America, Asia Pacific, Europe, Latin America and the Middle East & Africa.
North America dominated the market share in the precedent forecast year and the same is anticipated by the end of the current forecast period of 2030. There are huge market players that successfully flaunt the technologies to be used along with innovative work solutions. There are promoting investments by the US Army end to avail the services of the aircraft market and support them reach the anticipated market valuation by the end of the 2030 decade.
Europe delighted the second-largest market share by the end of the forecast year of 2018. This was a consequence of the availability of infrastructure, the development of versatile designs, as well as the vertiport stations. The Canadian military is also determining for investments with the subject to fuel the developments related to the military-VTOL services.
Key Players
eVTOL Aircraft Market Players are EHANG (China), Volocopter GmbH (Germany), Umber Technologies Inc. (US),Aurora Flight Sciences (US), A³ by Airbus (US), Bell Textron Inc. (US), Workhorse (US), Ilium GmbH (Germany) TERRAFUGIA (US), OXIS Energy Ltd (UK), Kareem Aircraft, Inc. (US), MGM COMPRO (Czech Republic)., Kitty Hawk (US), Embraer (Brazil) LIFT Aircraft Inc. (US), Opener (Canada).
Market Segmentation
The global eVTOL Aircraft Market is segmented into the following types;
By Lift Technology
- Vectored thrust
- Multi-rotor
- Lift plus cruise
By Propulsion Type
- Fully electric
- Hybrid electric
- Hydrogen-electric
By System
- Batteries & cells
- Electric motor/engine
- Aero-structures
- Avionics
- Software
- Others
By Application
- Air taxis
- Air shuttles & air metro
- Private transport
- Cargo transport
- Air ambulance & medical emergency
- Last-mile delivery
- Inspection & monitoring
- Surveying & mapping
- Surveillance
- Special mission
- Others
By Mode Of Operation
- Autonomous
- Piloted
By MTOW
- <100 kg,
- 100–1000 kg
- 1,000–2,000 kg
- >2,000 kg based.
By Range
- <= 200 km
- >200 km
Recent Developments:
· Thales joined forces with Eve to develop eVTOLs in 2022. Thales has announced that it will help Brazil develop its eVTOL aircraft. The strategic partnership entails a twelve-month series of joint studies on the technical, economic, and adaptable feasibility of a 100% electrically powered aircraft, beginning in January 2022.
· Heart Aerospace collaborated with Aernnova Aerospace S.A. in 2021 to co-design the structure for the new ES-19 electric aircraft, an all-electric aircraft designed to carry nineteen passengers on short regional routes. The wing, fuselage, and empennage will be designed by Aernnova Aerospace S.A. in collaboration with Heart's engineers.
eVTOL Aircraft Market Research Report Information By Type (Air Taxis, Delivery Drones and others), By Battery Type (Lithium-Ion Batteries, Solid-State Batteries and Hydrogen Fuel Cells), By Lift Technology (Multirotor, Vectored Thrust, Lift Plus Cruise and others), By Type of Propulsion (Fully Electric, Hybrid, and Electric Hydrogen), By Mode of Operation (Piloted and Optionally Piloted), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2030.
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· Military Surveillance Drone Market: Information by Drone Type (Fixed Wing Drone, Rotary Blade Drone and Hybrid Drone), Payload (Electro-Optic/Infrared Sensor, Cameras, Electronic Intelligence, Maritime Patrol Radar and others), Technology (Hardware and Software) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and Latin America) - Forecast till 2030
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