Top 10 Companies Dominating the Global eVTOL Aircraft Market Landscape

The global eVTOL aircraft market size is projected to expand at a CAGR of 44.7% between 2024 and 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the rising importance on sustainable aviation practices.

Electric vertical take-off and landing (eVTOL) aircraft, powered by electric motors, take off vertically like a helicopter. The propellers or rotors in the eVTOL aircraft enable vertical take-off, hover in place, and fly horizontally.

The Federal Aviation Administration (FAA) has listed eVTOLs as one of the top priorities to be certified by 2025. Moreover, evTOLs are anticipated to be adopted at scale during the 2028 Los Angeles Olympics, significantly supporting market growth.

It is estimated that by 2040, over 10,000 electric vertical-take-off­and-landing (eVTOL) vehicle deliveries will be carried out, and about 30,000 by 2050. Taking into account the lifespan of older models, the operational fleet is expected to consist of around 19,000 aircraft by 2050. This projection is based on an initial lifespan of five years for eVTOLs, which is anticipated to extend to over ten years by the end of the forecast period in 2050.

The inception of drone technology has been a key factor supporting the eVTOL aircraft market growth. The rising technological advancements such as artificial intelligence (AI) are further contributing to the market growth. AI can potentially enable autonomous piloting in eVTOL. Moreover, with the rising purchase of goods by the global population, eVTOLs find use as an environmentally friendly Uber-style on-demand air taxi.

In April 2024, Beta Technologies achieved the first piloted transition flights with the prototype of the company’s Alia 250 eVTOL aircraft prototype.

Top 10 eVTOL Aircraft Companies in the World:

Archer Aviation Inc.

For use in urban air mobility (UAM) networks, Archer Aviation Inc. designs and develops electric vertical takeoff and landing (eVTOL) aircraft. With the selling its aircraft to other operators serving as a secondary priority, the company's primary focus is on running a direct-to-consumer aerial ride-share service known as "Archer UAM." The company debuted its production model, the Midnight, in November 2022. It can transport four passengers and a pilot up to 100 miles per hour at a top speed of 150 miles per hour.

Airbus SE

Airbus is a global leader engaged in designing, manufacturing, and delivering aerospace products, services and solutions to customers on a global scale. The company has 150,000 employees across the globe and is considered the largest aeronautics and space company in Europe. A four-seater electric vertical take-off and landing (eVTOL) prototype called CityAirbus NextGen has recently been unveiled by Airbus. The company has also launched Vahana, an all-electric, single-seat, tilt-wing vehicle demonstrator.

Elbit Systems Ltd

Elbit Systems Ltd is a technology company with businesses in military aircraft and helicopter systems; unmanned aircraft systems (UAS); commercial aviation systems and aerostructures; naval systems; electro-optic, night vision and countermeasures systems; land vehicle systems; munitions etc. Elbit Systems is also providing eVTOL aircrafts under the name Skylark™ I-eVTOL. Skylark™ I-eVTOL is a mini UAS with automatic vertical takeoff and landing.

Lift Aircraft Inc

Lift Aircraft Inc is an eVTOL aircraft developer based in the United States. The introductory flights are currently made available in Austin Texas, USA. The company’s eVTOL named Hexa has distributed electric propulsion, with 18 independent electric motors and propellers. Hexa is capable of landing on both land and water and has a triply redundant autopilot computer with a single, 3-axis joystick for flying.

Piasecki Aircraft Corporation

Piasecki Aircraft Corporation (PiAC) is a privately owned research and development company engaged in the design, fabrication and flight testing of experimental rotorcraft and unmanned air vehicles. The company has developed and flown over 25 different advanced VTOL and UAV aircraft. Additionally, the company maintains an AS9100-certified quality system. Some of the projects by the company include Low Speed Wind Turbine (LSWT), Hydrogen Propulsion, etc.

Moog Inc

Moog Inc is a renowned company specialising in motion control across land, sea, air, and space. The operating segments of the company include aircraft controls, space and defence controls and industrial systems. Some of the industries the company caters to include aircraft, construction, energy, entertainment, industrial machinery, medical OEM, motorsport, and oil & gas, among others. The company has Moog SureFly, an electric vertical take-off and landing (eVTOL) aircraft under its name.

Lilium GmbH

Lilium is a public company listed on NASDAQ under the ticker LILM. The company is specialising in providing eVTOL, aimed at accelerating the decarbonization of air travel. The corporation conducts business with industry leaders in infrastructure, technology, and aerospace. Product sales for Lilium have been reported in Europe, the US, China, Brazil, the UK, the UAE, and the Kingdom of Saudi Arabia.

Volocopter GmbH

Volocopter employs over 500 people in Germany and Singapore and has completed more than 2,000 successful public and private test flights. The company have raised over USD 600 million in equity from investors, such as Mercedes-Benz Group, Sumitomo Corporation, Japan Airlines, Tokyo Century, and NTT Communications, and BlackRock. The company has an engineered eVTOL aircraft featuring the latest drone technologies and their intelligent platform the VoloIQ.

Wisk Aero LLC

Wisk is an advanced air mobility company specialising in developing the first autonomous, electric vertical takeoff and landing air taxi in the United States. In 2023, the company was announced as a fully owned subsidiary of Boeing. The company has launched eVTOL under the name Generation 6, which is considered the most advanced, autonomous, four-passenger eVTOL air taxi in the world.

Vertical Aerospace Group Ltd

Vertical is a British aerospace tech company, pioneering in electric aviation through designing and developing the UK's first all-electric, vertical take-off and landing aircraft (eVTOL). The company aims to decarbonise air travel using technologies from across the aviation, energy and automotive industries. The company is currently developing and is progressing towards the certification of, its eVTOL aircraft, the VX4.