Infinium Global Research and Consulting Solutions

The global eVTOL aircraft market was valued at USD 10,469.5 million in 2022 and is expected to reach USD 52,007.0 million by 2030 and grow at a CAGR of 22.43% over the forecast period. The growing traffic congestion and rising requirements instance aircraft services for ample market growth. The constantly growing urban population is demanding effective solutions for smarter transportation. Modern solutions such as eVTOL aircraft are quick yet cheap methods that will likely adopt by the rising population during the forecast period. Traditional ground transportation, such as cars and buses, is becoming increasingly congested and is no longer efficient for many commuters. Urbanization and continued growth in the population are creating the demand for faster and more efficient modes of transportation. Further, the increasing CO2 emission is generating the need for eVTOL that propels the growth of the market. The increase in CO2 emissions generates the need for green energy. According to the EIA's (Energy Information Administration) International Energy Report 2021, global CO2 emissions from energy consumption are anticipated to increase over the projected period, due to the growth in energy demand. The energy-related CO2 emissions increased by nearly 2.1 Gt from 2020 levels in 2021, marking the largest year-on-year increase in absolute terms on record.