| Status : Published | Published On : Apr, 2024 | Report Code : VRAD12029 | Industry : Aerospace and Defense | Available Format :
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Page : 210 |
Global eVTOL Aircraft Market – Analysis and Forecast (2025-2030)
By Lift Technology (Lift Plus Cruise, Multirotor and Vectored Thrust), By Mode of Operation (Autonomous, Semi-Autonomous and Piloted), By Propulsion Type (Hybrid-Electric, Hydrogen-Electric and Battery-Electric), By Range (0-200 Km and 200-500 Km), By Application (Military, Emergency Medical Services (EMS) and Commercial) and By Geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa)
Industry Overview
Global eVTOL Aircraft Market is anticipated to grow from USD 1.1 billion in 2023 to USD 24.3 billion in 2030 at a CAGR of 52.6 % during the forecast period from 2025 to 2030.
An electric vertical takeoff and landing (eVTOL) aircraft is an electrically powered aircraft which offers efficient and faster services. An eVTOL aircraft is considered a next-generation travel solution due to the safety and multi-facet benefits. eVTOL aircraft reduce the trip timing and are extremely environment friendly which helps in the reduction of carbon emissions. Electrical vertical takeoff and landing aircraft are used for agricultural activities, rescue missions, transportation, medical services and logistics. Generally, aircraft need a runway to take off or land; an exception to such aircraft, electric VTOL is designed to take off and land vertically without a long run away. Multiple motors manufacture eVTOL aircraft that ensure safety and enhance aircraft efficiency.
In the global aviation sector, the invention of electric vertical takeoff and landing aircraft is considered as an independent technological solution for transportation needs. The increasing need for modern transportation methods and noise-free aircraft will accelerate the global demand for advanced eVTOL aircraft.
Market Segmentation
Insight by Lift Technology
On the basis of lift technology type, the eVTOL Aircraft Market is divided into Lift Plus Cruise, Multirotor, Vectored Thrust. Among these, the vectored thrust category has the largest share in the revenue as this technology provides better endurance to the aircraft to enhance efficiency during the performance.
Insight by Mode of Operation
Based on mode of operation, the eVTOL Aircraft Market is segmented into Autonomous, Semi-Autonomous and Piloted. Piloted division dominated the market during the forecast period due to increased demand from the emergency medical service sector.
Insight by Propulsion type
The eVTOL Aircraft Market is classified into Hybrid-Electric, Hydrogen-Electric, Battery-Electric based on propulsion type. Battery-electric segment accounted for the largest share and is anticipated to dominate the market during the forecast period as it reduces the operation cost and carbon footprint.
Insight by Range
On the basis of range, eVTOL Aircraft Market is segregated into 0-200 Km and 200-500 Km. 200-500 Km segment played a major role in boosting the market during the forecast period.
Insight by Application
By application, eVTOL Aircraft Market is divided into Military, Emergency Medical Services (EMS) and Commercial. Commercial division dominated the market during the forecast period with the rapid adoption of air delivery services by air taxis and drones in urban areas
Global eVTOL Aircraft Market Report Coverage
|
Report Metric |
Details |
|
Historical Period |
2018 - 2023 |
|
Base Year Considered |
2024 |
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Forecast Period |
2025 - 2030 |
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Market Size in 2023 |
U.S.D. 1.1 Billion |
|
Revenue Forecast in 2030 |
U.S.D. 24.3 Billion |
|
Growth Rate |
52.6% |
|
Segments Covered in the Report |
By Lift Technology, By Mode of Operation, By Propulsion Type, By Range, By Application |
|
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
|
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
Industry Dynamics
Growth Drivers
The technological advancement and investment in the research sector of eVTOL aircraft are the primary driving factors for the growth of the market. Electronic technologies are also transforming rapidly which has shown significant growth in the global market for eVTOL aircraft. Technologically advanced eVTOL aircraft that shall fuel the growth of the global market for eVTOL companies such as SpaceX, AirBus and NASA during the forecast period of 2025-2030. Various companies are focusing on developing eVTOL aircraft which produce less carbon emission and support green energy. To reduce shipping time, retail and logistic industries focus more on drone delivery services which are the fastest-growing contributors to the revenue share in the global market for eVTOL aircraft. Furthermore, the market's overall growth is due to the increasing need for quick-flying aircraft services. Rising collaboration, strategic partnerships, and investments from other sectors into the eVTOL sector for developing and manufacturing eVTOL aircraft are considered major drivers for the growth of the global market for eVTOL aircraft. Growing urban population demands solutions for smarter transportation, such as air taxis, air mobility and other quick but affordable methods will likely drive the market during the forecast period.
Restraints
The major restraining factor in the growth of the eVTOL aircraft market is the slow public acceptance of eVTOL aircraft services. Safety is another concern associated with eVTOL aircraft services that will likely hamper the market's growth. However, strict regulations for the approvals of eVTOL aircraft hinder the market growth.
Geographic Overview
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North America
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Europe
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Asia Pacific (APAC)
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Latin America
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Middle East and Africa
North America dominates the market geographically due to its rapid adoption of eVTOL aircraft for urban air mobility. The market will likely maintain growth during the forecast period, with the bigger spending on research and development (R&D) activities in the aviation field.
Key Players Covered in the Report
Some of the key players in this market are Airbus SE, Kitty Hawk, Joby Aviation, Beta Technologies, Bell Textron, Inc., EHang Holdings Ltd., Elbit Systems) Ltd., Embraer SA,
Recent developments by Key Players
Elbit Systems will supply the Skylark 1 electric vertical take-off and landing (eVTOL) drone to the Israeli Defense Forces (IDF). The IDF Artillery Corps will receive the small tactical unmanned aerial system, replacing the aging hand-launched Skylark 1.
The global eVTOL Aircraft Market report offers a comprehensive market segmentation analysis along with estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Lift Technology
- Lift Plus Cruise
- Multi-rotor
- Vectored Thrust
- By Mode of Operation
- Semi-Autonomous
- Autonomous
- Piloted
- By Propulsion Type
- Hybrid-Electric
- Hydrogen-Electric
- Battery-Electric
- By Range
- 0-200 Km
- 200-500 Km
- By Application
- Military
- Emergency Medical Services (Ems)
- Commercial
Region Covered in the Report
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East and Africa
- Turkey
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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Source: VynZ Research
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Source: VynZ Research
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eVTOL Aircraft Market