eVTOL Aircrafts

eVTOL Aircrafts

Global eVTOL Aircrafts Market to Reach US$17.7 Billion by 2030

The global market for eVTOL Aircrafts estimated at US$1.2 Billion in the year 2023, is expected to reach US$17.7 Billion by 2030, growing at a CAGR of 47.5% over the analysis period 2023-2030. Vectored Thrust Technology, one of the segments analyzed in the report, is expected to record a 47.8% CAGR and reach US$8.3 Billion by the end of the analysis period. Growth in the Multirotor Technology segment is estimated at 44.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$317.2 Million While China is Forecast to Grow at 58.1% CAGR

The eVTOL Aircrafts market in the U.S. is estimated at US$317.2 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.8 Billion by the year 2030 trailing a CAGR of 58.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 39.4% and 44.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 41.4% CAGR.

Global eVTOL Aircrafts Market - Key Trends & Drivers Summarized

Why Are eVTOL Aircrafts Seen as the Future of Urban Mobility?

eVTOL (electric Vertical Take-Off and Landing) aircraft are seen as the future of urban mobility due to their potential to revolutionize transportation by providing fast, efficient, and environmentally friendly solutions for short-distance travel within cities. These aircraft, powered by electric propulsion, are designed to take off and land vertically, making them ideal for navigating congested urban environments where space for traditional runways is limited. eVTOL aircraft promise to reduce traffic congestion, lower carbon emissions, and offer new possibilities for transportation in densely populated areas. As urbanization continues to increase, the demand for innovative transportation solutions like eVTOL aircraft is expected to grow, driving the development of this emerging market.

How Are Technological Advancements Accelerating the Development of eVTOL Aircraft?

Technological advancements are accelerating the development of eVTOL aircraft by improving their performance, safety, and viability for urban air mobility. Innovations in battery technology, such as high-energy-density batteries, are enhancing the range and endurance of eVTOL aircraft, making them more practical for longer flights. Advances in electric propulsion systems, including distributed electric propulsion (DEP), are improving the efficiency and safety of eVTOL aircraft by providing redundancy and enhancing control during flight. Additionally, the integration of advanced avionics, including autonomous flight systems and AI-driven navigation, is enabling eVTOL aircraft to operate with greater precision and safety, reducing the need for pilot intervention. These technological advancements are driving the development of eVTOL aircraft as a viable solution for urban mobility, supporting the growth of the market.

What Market Trends Are Driving the Demand for eVTOL Aircraft?

Several key market trends are driving the demand for eVTOL aircraft, including the rise of urban air mobility (UAM), the push for sustainable transportation, and the increasing interest from both private and public sectors. The rise of urban air mobility, driven by the need to alleviate traffic congestion and improve transportation efficiency in cities, is boosting demand for eVTOL aircraft that can provide fast and efficient short-distance travel. The push for sustainable transportation, driven by environmental concerns and regulatory pressures, is also supporting the adoption of eVTOL aircraft, which offer a low-emission alternative to traditional modes of transportation. Additionally, the increasing interest from both private companies and public authorities in developing and deploying urban air mobility solutions is driving investment and innovation in the eVTOL aircraft market. These trends are shaping the future of urban transportation, driving the growth of the eVTOL aircraft market.

What Is Driving the Growth in the eVTOL Aircraft Market?

The growth in the eVTOL aircraft market is driven by several factors. The increasing demand for innovative urban transportation solutions, driven by the challenges of traffic congestion and the need for efficient mobility in densely populated areas, is a major driver of market growth. Technological advancements in electric propulsion, battery technology, and autonomous flight systems are also contributing to market growth by making eVTOL aircraft more viable and practical for urban air mobility. The growing emphasis on sustainable transportation, supported by government policies and consumer preferences, is further driving demand for eVTOL aircraft as a low-emission alternative to traditional vehicles. Additionally, the significant investment and interest from private companies, startups, and public authorities in developing urban air mobility infrastructure and services are supporting the expansion of the eVTOL aircraft market. These factors, combined with the ongoing development of regulatory frameworks for urban air mobility, are driving the growth of the eVTOL aircraft market.

Select Competitors (Total 52 Featured) -

• Airbus Group SE
• Archer Aviation, Inc.
• Beta Technologies
• Ehang Holdings Ltd.
• Eve Air Mobility
• Joby Aviation
• Lilium GmbH
• Urban Aeronautics Ltd.
• Vertical Aerospace
• Volocopter GmbH ;

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