Electric Aircraft Market by Component (Aircraft Battery, Aircraft Electric Motor), Type (Light Jet, Ultralight Aircraft), Technology, Range, Takeoff & Landing Type, Application - Global Forecast 2024-2030

Electric Aircraft Market by Component (Aircraft Battery, Aircraft Electric Motor), Type (Light Jet, Ultralight Aircraft), Technology, Range, Takeoff & Landing Type, Application - Global Forecast 2024-2030

The Electric Aircraft Market size was estimated at USD 1.76 billion in 2023 and expected to reach USD 1.87 billion in 2024, at a CAGR 7.43% to reach USD 2.91 billion by 2030.

The electric aviation movement is rapidly gaining pace, especially as the industry is under increasing pressure to decrease hazardous emissions. Electric aircraft eliminate CO2 emissions and GHGs, including NOx and water vapor, making them the most environmentally friendly technology capable of zero emissions during flight operations. Furthermore, electric planes have the potential to fly closer to cities and homes at all hours of the day and night without disturbing communities or wildlife. The rapid trend towards a clean and green environment, significant growth of power electronics, batteries, and electric motors, and supportive government nature have accelerated the development of the electric aircraft market. However, high voltage, thermal issues, and design complications may hinder market expansion. Nevertheless, the ongoing research activities and introduction of advanced electric aircraft create immense prospects in the coming years.

Regional Insights

The American electric aircraft market is significantly developing and emerging due to favorable government investments, ongoing research and development activities, and the presence of major native players. The U.S. Department of Energy constantly funded USD 55 million and USD 33 million in 2019 and 2020 for electric aviation, raising market development in the region. Moreover, NASA has worked with Empirical Systems Aerospace (ESAero) to understand air vehicle and all-electric propulsion design, analysis, manufacturing, integration, ground testing, diagnostic tools, and software modeling for the aircraft. Similarly, European countries are also significantly involved in the manufacturing and development of electric aviation to reduce emissions and optimize energy efficiency. In February 2023, the U.K. government recently announced USD 133 million in funding through the Aerospace Technology Institute (ATI) Programme for developing cutting-edge technologies for zero-emission electric aircraft. The Federal Aviation Administration (FAA) and the United Kingdom Civil Aviation Authority (CAA) also discuss the certification and validation of new eVTOL aircraft, production, continued airworthiness, operations, and personnel licensing, widening market scope. The Asia-Pacific region is also witnessing notable growth prospects in the electric aircraft market owing to rising government funding and support and the rapid trend towards electrification. The Minister for Industry and Science, in January 2023, announced USD 44 million in grants for Australian companies to support 19 collaborative research projects for electric planes. Furthermore, the ongoing research and development activities by regional players from China and Japan expand the development of the electric aircraft market in the Asia-Pacific region.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric Aircraft Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric Aircraft Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electric Aircraft Market, highlighting leading vendors and their innovative profiles. These include AeroVironment, Inc., Airbus SE, Archer Aviation Inc, BAE Systems PLC, BETA Technologies, Inc., Bye Aerospace by Fuyo General Lease Co., Ltd., Dovetail Electric Aviation, EHang Holdings Limited, Electric Aviation Group, Electron Holding B.V., Elroy Air, Inc., Embraer Commercial Aviation, Eviation Alice, Evolito Ltd., Faradair Aerospace, General Electric Company, Heart Aerospace AB, Honeywell International Inc., Israel Aerospace Industries, Joby Aero, Inc., LIFT Aircraft Inc., Lockheed Martin Corporation, PIPISTREL, Pipistrel Group, Raytheon Technologies Corporation, Rolls-Royce Holdings PLC, Thales Group, Vertical Aerospace Group Ltd., Volocopter GmbH, and Yuneec Holding Ltd..

Market Segmentation & Coverage

This research report categorizes the Electric Aircraft Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Aircraft Battery

Aircraft Electric Motor
Type
Light Jet

Ultralight Aircraft
Technology
All-Electric Aircraft

Hybrid Aircraft
Fuel-Powered Aircraft
Solar-Powered Aircraft
Range
Less Than 500 Km

More Than 500 Km
Takeoff & Landing Type
Conventional Takeoff & Landing

Short Takeoff & Landing

Vertical Takeoff & Landing
Application
Commercial

Military
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas

Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam

Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Electric Aircraft Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Aircraft Market?
3. What are the technology trends and regulatory frameworks in the Electric Aircraft Market?
4. What is the market share of the leading vendors in the Electric Aircraft Market?
5. Which modes and strategic moves are suitable for entering the Electric Aircraft Market?PDF E-mail From Publisher (2-5)Users License