eVTOL Aircraft Market (Battery Type - Lithium-ion Batteries, Solid-state Batteries, and Hydrogen Fuel Cells; Lift Technology - Multirotor, Vectored Thrust, and Lift Plus Cruise; Type of Propulsion - Fully Electric, Hybrid, and Electric Hydrogen; Type of Maximum Take-off Weight (MTOW) - <250 Kg, 250–500 Kg, 500–1,500 Kg, and >1,500 Kg; Mode of Operation - Piloted, and Autonomous; Range - <=200 KM, and >200 KM; Application - Air Taxis, Air Shuttles & Air Metro, Private Transport, Cargo Transport, Air Ambulance & Medical Emergency, Last Mile Delivery, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2030

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.

Market Insight:

The global eVTOL aircraft market is projected to grow at a CAGR of 22.43% between 2023 and 2030, expanding from USD 10.47 billion in 2022 to reach USD 52.01 billion in 2030. The global eVTOL aircraft market features the orders of the eVTOL aircraft to be manufactured over the period of 2022 to 2030.

Rising urban population worldwide and growing traffic congestion in the cities are major challenges and this has led to finding new transportation facilities. eVTOL aircraft are short-range battery-operated aircraft designed for passenger as well as cargo transportation in the short range of distance. Currently, there are a few eVTOLs operating while the manufacturers have preorders for eVTOL aircraft.

The report finds out that the innovation of new aircraft and the growing need for sustainable and fast transportation are the key trends in the market. The need for economically affordable and environmentally friendly vehicles is on the rise and has paved avenues for electric vertical take-off vehicles that can be used for both public and commercial transport solutions. Currently, the leading eVTOL aircraft manufacturers such as Volocopter and Textron are working on expanding their production facilities and raising investments for new aircraft developments.

The report identifies the opportunities in developed markets such as the U.S., Canada, Germany, and Saudi Arabia among others. Moreover, several countries with dense traffic issues are likely to create significant opportunities for eVTOL aircraft over the next six years.

Research Methodology Brief:

This research has been performed by doing excessive primary and secondary research methods. The primary research has been conducted by interviewing several executives and consultants operating in the eVTOL and allied industries. The information has also been collected using the questionnaires to collect the required information. Moreover, the secondary research has helped us validate the research findings through primary research. The analysts have browsed through several industry publications and company publications about new product developments and revenues/orders.

The market size has been identified and triangulated using both bottom-up and top-down approaches. In the bottom-up approaches, the revenues of the companies operating in various countries have been identified based on the orders they have received, revenue generated through orders, and the number of eVTOLs delivered or operating. This helped us to accumulate the regional market size followed by the global market size. While performing a top-down approach the global estimated market size was split among the regions and the key segments in the market. The revenues were distributed among the sub-segments in the eVTOL aircraft market in the regional market such as North America, Europe, Asia-Pacific, Latin America, and the Middle East. The revenue distribution in the segments was based on the orders/revenues of the aircraft in each segment and in each region. This approach helped us to triangulate the market and estimate the global as well as regional market size of the eVTOL aircraft market.

Key Insights into the Study:

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 are likely to be adopted by developed countries 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 aircraft. 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, 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 accounted for the largest market share of the global eVTOL aircraft market. The region constituted 42.17% of the market share in 2022 and is projected to increase up to 42.33% by the end of the forecast period 2023-2030. North America generated USD 4,415.0 million revenue in 2022 and it is projected to reach USD 22,014.6 Million in 2030. It is expected to grow at the highest CAGR of 22.49% over a forecasted period of 2023-2030. The North American market for eVTOL (electric Vertical Takeoff and Landing) aircraft is experiencing a surge in demand primarily due to growing interest in sustainable transportation solutions that minimize carbon emissions and noise pollution. Moreover, the increase in demand is the expansion of e-commerce and same-day delivery services, which require faster and more efficient transportation solutions. eVTOL aircraft have the potential to provide a faster and more environmentally friendly alternative to traditional delivery methods.

Report Scope of the eVTOL Aircraft Market:

Segment Covered

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.

Companies Profiled:

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.

Report Highlights:

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.