eVTOL Aircraft Market Size, Share & Trends Analysis Report By Propulsion (Fully Electric, Hybrid), By Application (Cargo Transport, Passenger Transport), By Operation Mode (Piloted, Autonomous), By Range, By System, By Region, And Segment Forecasts, 2024

eVTOL Aircraft Market Size, Share & Trends Analysis Report By Propulsion (Fully Electric, Hybrid), By Application (Cargo Transport, Passenger Transport), By Operation Mode (Piloted, Autonomous), By Range, By System, By Region, And Segment Forecasts, 2024 - 2030

eVTOL Aircraft Market Size & Trends

The global eVTOL aircraft market size was estimated at USD 1.35 billion in 2023 and is expected to grow at a CAGR of 54.9% from 2024 to 2030. The development and improvement in battery technologies are significant drivers for the eVTOL (electric Vertical Takeoff and Landing) aircraft market growth. As batteries become more powerful, lighter, and capable of faster charging times, eVTOLs can fly longer distances with shorter downtimes, making them more practical and appealing for urban air mobility and other applications. This technological leap enhances operational efficiency and expands the possible use cases for eVTOLs, from passenger drones to cargo delivery systems, thereby driving market growth.

Moreover, with global awareness and governmental policies shifting towards reducing carbon emissions and combating climate change, there's a growing demand for sustainable transport solutions. eVTOL aircraft represent a potential for eco-friendly urban air mobility by considerably reducing the reliance on ground transportation, which is often powered by fossil fuels. The push for more environment-friendly options is guiding financial investments and regulatory backing in favor of the electric aviation industry, which, in turn, is accelerating the expansion of the eVTOL aircraft market.

The integration of autonomous technologies into eVTOL designs is a significant driver for the market growth. Autonomy in aviation can increase safety by reducing human error, enhance efficiency through optimized route planning, and eventually reduce operational costs by potentially eliminating the need for pilots. The ongoing development of Artificial Intelligence (AI) and Machine Learning (ML) algorithms, sensors, and flight control systems paves the way for fully autonomous eVTOL services in the future, contributing to market growth.

Additionally, the establishment of regulatory frameworks and support from aviation authorities is crucial for the growth of the eVTOL market. Regulatory bodies such as the Federal Aviation Administration (FAA) and European Union Aviation Safety Agency (EASA) are working on developing guidelines and certifications specific to eVTOL operations. This regulatory clarity is essential for ensuring safety, standardization, and public trust in eVTOL aircraft. Government initiatives and policies that promote the adoption of innovative aviation technologies are also playing a significant role. As regulations become more defined and supportive, they will facilitate the wider adoption and commercial operation of eVTOL aircraft, driving market expansion in the coming years.

Furthermore, the global increase in urban population and the consequent rise in traffic congestion are increasing demand for eVTOL aircrafts. eVTOL aircraft offer a solution to bypass crowded urban streets, significantly reducing commute times and improving the quality of life for city residents. As cities continue to grow, the demand for efficient, time-saving transportation options like eVTOL aircraft is expected to rise, propelling the market forward.

Global eVTOL Aircraft Market Report Segmentation

This report forecasts and estimates revenue growth at the global, regional, and country levels along with analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global eVTOL aircraft market report based on propulsion, application, operation mode, range, system, and region.

• Propulsion Outlook (Revenue, USD Million, 2018 - 2030)
• Fully Electric
• Hybrid
• Electric Hydrogen
• Application Outlook (Revenue, USD Million, 2018 - 2030)
• Cargo Transport
• Passenger Transport
• Mapping & Surveying
• Special Mission
• Surveillance & Monitoring
• Others
• Operation Mode Outlook (Revenue, USD Million, 2018 - 2030)
• Piloted
• Autonomous
• Range Outlook (Revenue, USD Million, 2018 - 2030)
• Intracity (20km-100km)
• Intercity (Above 100Km)
• System Outlook (Revenue, USD Million, 2018 - 2030)
• Hardware
• Aerostructure
• Avionics
• Electric Motor
• Batteries and Fuel Cells
• Others
• Software
• Regional Outlook (Revenue, USD Million, 2018 - 2030)
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Middle East and Africa (MEA)
• UAE
• Saudi Arabia
• South Africa

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