eVTOL Aircraft Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of eVTOL Aircraft Market
The eVTOL aircraft market size was valued at USD 1.11 billion in 2020, and the market is now projected to grow from USD 5.41 billion in 2021 to USD 23.21 billion by 2028, exhibiting a CAGR of 23.13% during the forecast period of 2021-2028.
The COVID-19 pandemic disrupted supply chain, mainly, the suspension of R&D activities in 2020 significantly affecting the air mobility market especially small startups in the Asia-Pacific region. Despite the pandemic, Pitchbook also revealed that North America and European companies secured about USD 1.3 billion for air mobility investments. The market is further expected to regain in the later part of this 2021.
The increasing population of urban dynamics specifically in developing regions for instance China alongside India has caused increased traffic hold-ups which compelled investment on fresh solutions to transport in stimulating urban dynamics including air mobility and environmentally sustainable transportation like air-taxis. Today leading aircraft makers such as Airbus second and Californian start-up Joby Aviation are both toying with designs and testing eVTOL models. He also noted that the commercialization of Aire taxis to meet the need for green mobility solutions in cities is set to start by 2024.
Progresses in the architectural design of eVTOL aircraft have brought attention to the materialization of challenges in the industry. Dupont, when interviewed regarding the future input, stated that manufacturers are investing heavily in such complex technologies as situational awareness system or detection and collision avoidance system. These advanced technologies use micro or millimeter wave technology for identification and give real time decision support in unsafe operation theatres. Among these innovations, there are obvious and tangible improvements that are necessary to improve the safety and efficiency of eVTOL operations.
Comprehensive Analysis of eVTOL Aircraft Market
The eVTOL aircraft market growth is also increasing exponentially because of the segmentation of its market. This market expansion rightly provides a thorough market breakdown near to the industry considering the leading supply and demand forces. These segmentations are methodically segregated by lift technology analysis, by mode of operation analysis, by range analysis, by maximum take-off weight (MTOW) analysis, by propulsion type analysis and by application analysis. By lift technology analysis incudes vectored thrust, lift plus cruise, and multirotor. By mode of operation analysis incudes piloted, autonomous, and semi-autonomous. By range analysis incudes 0-200 km and 200-500 km. By maximum take-off weight (MTOW) analysis incudes <250 kg, 250-500 kg, 500-1500 kg, and >1500 kg. By propulsion type analysis incudes battery-electric, hybrid-electric, and hydrogen-electric. By application analysis incudes commercial, military, and emergency medical services (EMS).
The North America region lead the eVTOL aircraft market share by benefitting a market size of USD 0.43 billion in 2020 due to rising investment by the U.S. government for the development of VTOL aircraft.
Top players in the market have their responsibility of aerospace & defence industrial prospectus growth of the retailing industry and the markets. These players include, Kitty Hawk, Lilium, Ehang, Volocopter GmbH, Bell Textron Inc., Airbus S.A.S, Beta Technologies, Joby Aviation, Urban Aeronautics Ltd. these market players provide a level-playing competitive landscape.
In June 2021, Helisul Aviation ordered 50 electric VTOL air taxis from Eve Urban Air Mobility for urban air mobility operations in Brazil, with deliveries anticipated to start by 2026.
Segmentation Table
ATTRIBUTE
DETAILS
Study Period
2017-2028
Base Year
2020
Estimated Year
2021
Forecast Period
2021-2028
Historical Period
2017-2019
Unit
Value (USD Billion)
Segmentation
Lift Technology, Mode of Operation, Range, Maximum Take-off Weight, Propulsion Type, Application, and Geography
By Lift Technology
Vectored Thrust
Multirotor
Lift Plus Cruise
By Mode of Operation
Piloted
Autonomous
Semi-Autonomous
By Range
0-200 Km
200-500 Km
By Maximum Take-off Weight (MTOW)
<250 Kg
250-500 Kg
500-1500 Kg
>1500 Kg
By Propulsion Type
Battery-Electric
Hybrid-Electric
Hydrogen-Electric
By Application
Commercial
- Air Taxi
- Delivery Drones
- Cargo Transport
- Combat Mission
- Air Ambulance
- Medical Cargo Transport
North America (By Lift Technology, Mode of Operation, Range, MTOW, Propulsion Type, Application, and Country)
- U.S. (By Mode of Operation)
- Canada (Mode of Operation)
- U.K. (By Mode of Operation)
- Germany (By Mode of Operation)
- France (By Mode of Operation)
- Russia (By Mode of Operation)
- Rest of Europe (By Mode of Operation)
- China (By Mode of Operation)
- India (By Mode of Operation)
- Japan (By Mode of Operation)
- Australia (By Mode of Operation)
- Rest of Asia Pacific (By Mode of Operation)
- Middle East & Africa (By Mode of Operation)
- Latin America (By Mode of Operation)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- 4.2. Latest technological Advancements
- 4.3. Porters Five Forces Analysis
- 4.4. Supply Chain Analysis
- 5. Quantitative Insights-Impact of COVID-19 Pandemic on Global eVTOL Aircraft Market
- 5.1. Impact of COVID-19 Pandemic on Global eVTOL Aircraft Market
- 5.2. Steps Taken by Industry/Companies/Government to Overcome the Impact
- 5.3. Key Development in the industry in Response to COVID-19 Pandemic
- 5.4. Potential opportunities due to COVID-19 Pandemic
- 6. Global eVTOL Aircraft Market Analysis, Insights and Forecast, 2017-2028
- 6.1. Segment Definitions
- 6.2. Market Analysis, Insights and Forecast – By Lift Technology
- 6.2.1. Vectored Thrust
- 6.2.2. Multirotor
- 6.2.3. Lift Plus Cruise
- 6.3. Market Analysis, Insights and Forecast – By Mode of Operation
- 6.3.1. Piloted
- 6.3.2. Autonomous
- 6.3.3. Semi-Autonomous
- 6.4. Market Analysis, Insights and Forecast – By Range
- 6.4.1. 0-200 Km
- 6.4.2. 200-500 Km
- 6.5. Market Analysis, Insights and Forecast – By Maximum Take-Off Weight (MTOW)
- 6.5.1. <250 Kg
- 6.5.2. 250-500 Kg
- 6.5.3. 500-1500 Kg
- 6.5.4. >1500 Kg
- 6.6. Market Analysis, Insights and Forecast – By Propulsion Type
- 6.6.1. Battery-Electric
- 6.6.2. Hybrid-Electric
- 6.6.3. Hydrogen-Electric
- 6.7. Market Analysis, Insights and Forecast – By Application
- 6.7.1. Commercial
- 6.7.1.1. Air Taxi
- 6.7.1.2. Delivery Drones
- 6.7.2. Military
- 6.7.2.1. Cargo Transport
- 6.7.2.2. Combat Mission
- 6.7.3. Emergency Medical Service
- 6.7.3.1. Air Ambulance
- 6.7.3.2. Medical Cargo Transport
- 6.8. Market Analysis, Insights and Forecast – By Region
- 6.8.1. North America
- 6.8.2. Europe
- 6.8.3. Asia-pacific
- 6.8.4. Rest of the world
- 7. North America eVTOL Aircraft Market Analysis, Insights and Forecast, 2017-2028
- 7.1. Market Analysis, Insights and Forecast – By Lift Technology
- 7.1.1. Vectored Thrust
- 7.1.2. Multirotor
- 7.1.3. Lift Plus Cruise
- 7.2. Market Analysis, Insights and Forecast – By Mode of Operation
- 7.2.1. Piloted
- 7.2.2. Autonomous
- 7.2.3. Semi-Autonomous
- 7.3. Market Analysis, Insights and Forecast – By Range
- 7.3.1. 0-200 Km
- 7.3.2. 200-500 Km
- 7.4. Market Analysis, Insights and Forecast – By Maximum Take-Off Weight (MTOW)
- 7.4.1. <250 Kg
- 7.4.2. 250-500 Kg
- 7.4.3. 500-1500 Kg
- 7.4.4. >1500 Kg
- 7.5. Market Analysis, Insights and Forecast – By Propulsion Type
- 7.5.1. Battery-Electric
- 7.5.2. Hybrid-Electric
- 7.5.3. Hydrogen-Electric
- 7.6. Market Analysis, Insights and Forecast – By Application
- 7.6.1. Commercial
- 7.6.1.1. Air Taxi
- 7.6.1.2. Delivery Drones
- 7.6.2. Military
- 7.6.2.1. Cargo Transport
- 7.6.2.2. Combat Mission
- 7.6.3. Emergency Medical Service
- 7.6.3.1. Air Ambulance
- 7.6.3.2. Medical Cargo Transport
- 7.7. Market Analysis – By Country
- 7.7.1. U.S.
- 7.7.1.1. By Mode of Operation
- 7.7.1.1.1. Piloted
- 7.7.1.1.2. Autonomous
- 7.7.1.1.3. Semi-Autonomous
- 7.7.2. Canada
- 7.7.2.1. By Mode of Operation
- 7.7.2.1.1. Piloted
- 7.7.2.1.2. Autonomous
- 7.7.2.1.3. Semi-Autonomous
- 8. Europe eVTOL Aircraft Market Analysis, Insights and Forecast, 2017-2028
- 8.1. Market Analysis, Insights and Forecast – By Lift Technology
- 8.1.1. Vectored Thrust
- 8.1.2. Multirotor
- 8.1.3. Lift Plus Cruise
- 8.2. Market Analysis, Insights and Forecast – By Mode of Operation
- 8.2.1. Piloted
- 8.2.2. Autonomous
- 8.2.3. Semi-Autonomous
- 8.3. Market Analysis, Insights and Forecast – By Range
- 8.3.1. 0-200 Km
- 8.3.2. 200-500 Km
- 8.4. Market Analysis, Insights and Forecast – By Maximum Take-Off Weight (MTOW)
- 8.4.1. <250 Kg
- 8.4.2. 250-500 Kg
- 8.4.3. 500-1500 Kg
- 8.4.4. >1500 Kg
- 8.5. Market Analysis, Insights and Forecast – By Propulsion Type
- 8.5.1. Battery-Electric
- 8.5.2. Hybrid-Electric
- 8.5.3. Hydrogen-Electric
- 8.6. Market Analysis, Insights and Forecast – By Application
- 8.6.1. Commercial
- 8.6.1.1. Air Taxi
- 8.6.1.2. Delivery Drones
- 8.6.2. Military
- 8.6.2.1. Cargo Transport
- 8.6.2.2. Combat Mission
- 8.6.3. Emergency Medical Service
- 8.6.3.1. Air Ambulance
- 8.6.3.2. Medical Cargo Transport
- 8.7. Market Analysis – By Country
- 8.7.1. U.K.
- 8.7.1.1. By Mode of Operation
- 8.7.1.1.1. Piloted
- 8.7.1.1.2. Autonomous
- 8.7.1.1.3. Semi-Autonomous
- 8.7.2. Germany
- 8.7.2.1. By Mode of Operation
- 8.7.2.1.1. Piloted
- 8.7.2.1.2. Autonomous
- 8.7.2.1.3. Semi-Autonomous
- 8.7.3. France
- 8.7.3.1. By Mode of Operation
- 8.7.3.1.1. Piloted
- 8.7.3.1.2. Autonomous
- 8.7.3.1.3. Semi-Autonomous
- 8.7.4. Russia
- 8.7.4.1. By Mode of Operation
- 8.7.4.1.1. Piloted
- 8.7.4.1.2. Autonomous
- 8.7.4.1.3. Semi-Autonomous
- 8.7.5. Rest of Europe
- 8.7.5.1. By Mode of Operation
- 8.7.5.1.1. Piloted
- 8.7.5.1.2. Autonomous
- 8.7.5.1.3. Semi-Autonomous
- 9. Asia pacific eVTOL Aircraft Market Analysis, Insights and Forecast, 2017-2028
- 9.1. Market Analysis, Insights and Forecast – By Lift Technology
- 9.1.1. Vectored Thrust
- 9.1.2. Multirotor
- 9.1.3. Lift Plus Cruise
- 9.2. Market Analysis, Insights and Forecast – By Mode of Operation
- 9.2.1. Piloted
- 9.2.2. Autonomous
- 9.2.3. Semi-Autonomous
- 9.3. Market Analysis, Insights and Forecast – By Range
- 9.3.1. 0-200 Km
- 9.3.2. 200-500 Km
- 9.4. Market Analysis, Insights and Forecast – By Maximum Take-Off Weight (MTOW)
- 9.4.1. <250 Kg
- 9.4.2. 250-500 Kg
- 9.4.3. 500-1500 Kg
- 9.4.4. >1500 Kg
- 9.5. Market Analysis, Insights and Forecast – By Propulsion Type
- 9.5.1. Battery-Electric
- 9.5.2. Hybrid-Electric
- 9.5.3. Hydrogen-Electric
- 9.6. Market Analysis, Insights and Forecast – By Application
- 9.6.1. Commercial
- 9.6.1.1. Air Taxi
- 9.6.1.2. Delivery Drones
- 9.6.2. Military
- 9.6.2.1. Cargo Transport
- 9.6.2.2. Combat Mission
- 9.6.3. Emergency Medical Service
- 9.6.3.1. Air Ambulance
- 9.6.3.2. Medical Cargo Transport
- 9.7. Market Analysis – By Country
- 9.7.1. China
- 9.7.1.1. By Mode of Operation
- 9.7.1.1.1. Piloted
- 9.7.1.1.2. Autonomous
- 9.7.1.1.3. Semi-Autonomous
- 9.7.2. India
- 9.7.2.1. By Mode of Operation
- 9.7.2.1.1. Piloted
- 9.7.2.1.2. Autonomous
- 9.7.2.1.3. Semi-Autonomous
- 9.7.3. Japan
- 9.7.3.1. By Mode of Operation
- 9.7.3.1.1. Piloted
- 9.7.3.1.2. Autonomous
- 9.7.3.1.3. Semi-Autonomous
- 9.7.4. Australia
- 9.7.4.1. By Mode of Operation
- 9.7.4.1.1. Piloted
- 9.7.4.1.2. Autonomous
- 9.7.4.1.3. Semi-Autonomous
- 9.7.5. Rest of Asia Pacific
- 9.7.5.1. By Mode of Operation
- 9.7.5.1.1. Piloted
- 9.7.5.1.2. Autonomous
- 9.7.5.1.3. Semi-Autonomous
- 10. Rest of the World eVTOL Aircraft Market Analysis, Insights and Forecast, 2017-2028
- 10.1. Market Analysis, Insights and Forecast – By Lift Technology
- 10.1.1. Vectored Thrust
- 10.1.2. Multirotor
- 10.1.3. Lift Plus Cruise
- 10.2. Market Analysis, Insights and Forecast – By Mode of Operation
- 10.2.1. Piloted
- 10.2.2. Autonomous
- 10.2.3. Semi-Autonomous
- 10.3. Market Analysis, Insights and Forecast – By Range
- 10.3.1. 0-200 Km
- 10.3.2. 200-500 Km
- 10.4. Market Analysis, Insights and Forecast – By Maximum Take-Off Weight (MTOW)
- 10.4.1. <250 Kg
- 10.4.2. 250-500 Kg
- 10.4.3. 500-1500 Kg
- 10.4.4. >1500 Kg
- 10.5. Market Analysis, Insights and Forecast – By Propulsion Type
- 10.5.1. Battery-Electric
- 10.5.2. Hybrid-Electric
- 10.5.3. Hydrogen-Electric
- 10.6. Market Analysis, Insights and Forecast – By Application
- 10.6.1. Commercial
- 10.6.1.1. Air Taxi
- 10.6.1.2. Delivery Drones
- 10.6.2. Military
- 10.6.2.1. Cargo Transport
- 10.6.2.2. Combat Mission
- 10.6.3. Emergency Medical Service
- 10.6.3.1. Air Ambulance
- 10.6.3.2. Medical Cargo Transport
- 10.7. Market Analysis – By Sub-Region
- 10.7.1. The Middle East and Africa
- 10.7.1.1. By Mode of Operation
- 10.7.1.1.1. Piloted
- 10.7.1.1.2. Autonomous
- 10.7.1.1.3. Semi-Autonomous
- 10.7.2. Latin America
- 10.7.2.1. By Mode of Operation
- 10.7.2.1.1. Piloted
- 10.7.2.1.2. Autonomous
- 10.7.2.1.3. Semi-Autonomous
- 11. Competitive Analysis
- 11.1. Comparative Analysis – Major Players
- 12. Company Profiles (Overview, Products & Vectored Thrust, SWOT analysis, Recent developments, strategies, financials (based on availability))
- 12.1. Kitty Hawk (U.S.)
- 12.1.1. Overview,
- 12.1.2. Products & Vectored Thrust,
- 12.1.3. SWOT analysis,
- 12.1.4. Recent developments,
- 12.1.5. strategies,
- 12.1.6. financials (based on availability)
- 12.2. Lilium (Germany)
- 12.2.1. Overview,
- 12.2.2. Products & Vectored Thrust,
- 12.2.3. SWOT analysis,
- 12.2.4. Recent developments,
- 12.2.5. strategies,
- 12.2.6. financials (based on availability)
- 12.3. Ehang (China)
- 12.3.1. Overview,
- 12.3.2. Products & Vectored Thrust,
- 12.3.3. SWOT analysis,
- 12.3.4. Recent developments,
- 12.3.5. strategies,
- 12.3.6. financials (based on availability)
- 12.4. Volocopter (Germany)
- 12.4.1. Overview,
- 12.4.2. Products & Vectored Thrust,
- 12.4.3. SWOT analysis,
- 12.4.4. Recent developments,
- 12.4.5. strategies,
- 12.4.6. financials (based on availability)
- 12.5. Bell Textron Inc. (U.S.)
- 12.5.1. Overview,
- 12.5.2. Products & Vectored Thrust,
- 12.5.3. SWOT analysis,
- 12.5.4. Recent developments,
- 12.5.5. strategies,
- 12.5.6. financials (based on availability)
- 12.6. Airbus S.A.S (Netherlands)
- 12.6.1. Overview,
- 12.6.2. Products & Vectored Thrust,
- 12.6.3. SWOT analysis,
- 12.6.4. Recent developments,
- 12.6.5. strategies,
- 12.6.6. financials (based on availability)
- 12.7. Beta Technologies (U.S.)
- 12.7.1. Overview,
- 12.7.2. Products & Vectored Thrust,
- 12.7.3. SWOT analysis,
- 12.7.4. Recent developments,
- 12.7.5. strategies,
- 12.7.6. financials (based on availability)
- 12.8. Joby Aviation (U.S.)
- 12.8.1. Overview,
- 12.8.2. Products & Vectored Thrust,
- 12.8.3. SWOT analysis,
- 12.8.4. Recent developments,
- 12.8.5. strategies,
- 12.8.6. financials (based on availability)
- 12.9. Urban Aeronautics Ltd. (Israel)
- 12.9.1. Overview,
- 12.9.2. Products & Vectored Thrust,
- 12.9.3. SWOT analysis,
- 12.9.4. Recent developments,
- 12.9.5. strategies,
- 12.9.6. financials (based on availability)
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