A recent report published by Infinium Global Research on eVTOL aircraft market provides in-depth analysis of segments and sub-segments in the global as well as regional eVTOL aircraft market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional eVTOL aircraft market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global eVTOL aircraft market.
eVTOL (electric vertical takeoff and landing) aircraft are a new class of vehicles that are designed to take off and land vertically, using electric motors and batteries for propulsion. These aircraft have the potential to revolutionize urban transportation by providing a fast, efficient, and environmentally friendly mode of transportation for people and goods. One of the key advantages of eVTOL aircraft is their ability to take off and land vertically, which eliminates the need for runways and allows them to operate in densely populated urban areas. This could significantly reduce travel times and congestion on roads, while also providing a more sustainable mode of transportation. There are several different types of eVTOL aircraft in development, including passenger drones, cargo drones, and hybrid aircraft that can switch between vertical and horizontal flight modes. Passenger drones are designed to carry one or two passengers and are intended for short, urban flights, while cargo drones can carry larger payloads and are designed for transporting goods. The eVTOL (electric vertical takeoff and landing) aircraft market is a rapidly growing sector of the aviation industry that is poised to revolutionize urban mobility. The rise of eVTOL aircraft is being driven by several factors, including advances in electric propulsion technology, improvements in battery energy density, and the growing demand for more efficient and sustainable modes of transportation. These aircraft have the potential to reduce congestion on roads, decrease travel times, and provide new opportunities for businesses and consumers.
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 be adopted 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. This increase surpasses the previous record set in 2010. The significant rise in emissions can be attributed to several factors, including the rebound in economic activity following the COVID-19 pandemic, particularly in developing countries, and a surge in demand for fossil fuels. However, the concerns about infrastructure and technology hamper the market growth. The companies are still in doubt about the battery technology involved in commercial eVTOLs, which limits the aircraft’s range and carrying capacity. The batteries used in eVTOLs are going to need to grow the range without adding weight rapidly to get to long-distance destinations. For instance, Airlines operate their planes from eight to 14 hours per day, and this utilization makes commercial flying financially sustainable. Additionally, the growing technological advancement and investments provide lucrative opportunities. The growing technological advancements in eVTOLs by different manufacturers are creating growth opportunities for the market. The key players are investing in the development of complex technologies such as situational awareness systems, detection and collision avoidance systems, and others. For instance, Sagetech Avionics Inc. developed several certifiable detect and avoid systems and situational awareness solutions for urban air mobility.
Based on the region North America is expected to dominate the growth of the market during the forecast period of 2023-2030. The North American market for eVTOL (electric Vertical Takeoff and Landing) aircraft is experiencing a surge in demand for various reasons. One of the primary drivers is the growing interest in sustainable transportation solutions that minimize carbon emissions and noise pollution. As eVTOL aircraft run on electricity, they have the potential to significantly reduce the negative environmental impact of traditional aircraft. In addition, eVTOL aircraft can offer faster and more efficient transportation in urban areas. They are capable of vertical takeoff and landing, allowing them to operate in congested urban environments without requiring runways. This could result in reduced travel times and better mobility for commuters.
|Market Size in 2022
|USD 10,469.5 Million
|Market Size by 2030
|USD 52,007.0 Million
|Growth Rate from 2023 to 2030
|CAGR of 22.43%
|No. of Pages
|By Battery Type, By Lift Technology, By Type of Propulsion, By Type of Maximum Take-off Weight (MTOW), By Mode of Operation, By Range, and By Application
|North America, Europe, Asia Pacific, and RoW
The report on global eVTOL aircraft market covers segments such as battery type, lift technology, type of propulsion, type of maximum take-off weight (mtow), mode of operation, range, and application. On the basis of battery type, the sub-markets include lithium-ion batteries, solid-state batteries, and hydrogen fuel cells. On the basis of lift technology, the sub-markets include multirotor, vectored thrust, and lift plus cruise. On the basis of type of propulsion, the sub-markets include fully electric, hybrid, and electric hydrogen. On the basis of type of maximum take-off weight (mtow), the sub-markets include <250 kg, 250–500 kg, 500–1,500 kg, and >1,500 kg. On the basis of mode of operation, the sub-markets include piloted, and autonomous. On the basis of range, the sub-markets include <=200 km, and >200 km. On the basis of application, the sub-markets include air taxis, air shuttles & air metro, private transport, cargo transport, air ambulance & medical emergency, last mile delivery, and others.
The report provides profiles of the companies in the market such as Volocopter, Textron Inc. (Bell Nexus & Pipistrel), Joby Aviation, AURORA FLIGHT SCIENCES, Airbus, Lilium, BETA Technologies, Vertical Aerospace, Eve Air Mobility, and ARCHER AVIATION INC.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the eVTOL aircraft market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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