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Historical Year
Forecast Year
The global eVTOL aircraft market size is projected to expand at a CAGR of 44.7% between 2024 and 2032. The major drivers of the market include rising investments by the key players of the market towards product enhancement and increased emphasis on sustainable aviation practices.
An eVTOL aircraft, often known as electric vertical take-off and landing aircraft, uses electric power for hovering, taking off, and landing vertically. This vehicle is optimised for electrical propulsion and is powered by batteries. The aircraft provides accessible and quick short-range transportation for both cargo and passengers.
On the basis of technology, the market is divided into lift plus cruise, multirotor, and vectored thrust. Based on mode of operation, the market is bifurcated into autonomous and piloted. On the basis of propulsion type, the market is segregated into battery-electric, hydrogen-electric, and hybrid-electric.
Based on range, the market is classified into 0 Km- 200 KM and 200 Km- 500 Km. On the basis of application, the market is categorised into commercial, military, and emergency medical service. Based on region, the eVTOL aircraft market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Piloted aircrafts are anticipated to account for a significant eVTOL aircraft market share owing to the various advantages associated with the piloted mode of operation including increased passenger trust and reassurance. The regulatory compliances and safety concerns are addressed in a more streamlined manner with the help of human oversight, further supporting the segment growth and market expansion. The seamless integration of piloted eVTOLs with air traffic management systems is accelerating the product acceptance.
Europe is anticipated to witness significant growth over the forecast period. This growth can be attributed to the expansion of the commercial aviation sector and increased emphasis on sustainable aviation practices. The rising investments by the government in the region towards development of eVTOL aircrafts is also supporting the market expansion. The emergence of advanced and urban air mobility solutions is bolstering the eVTOL aircraft market demand.
Archer Aviation Inc. is dedicated towards developing and designing landing and electric vertical take-off aircrafts for usage in urban air mobility networks. The company was founded in 2018 and is headquartered in California, United States.
Airbus SE, headquartered in Leiden, Netherlands, is an aviation and aerospace component manufacturing company that is dedicated towards providing high quality space, aeronautic, and related services for making the world safer, smarter, and connected.
Elbit Systems Ltd., headquartered in in Haifa, Israel, is an international high technology company that specialises in eVTOL aircrafts, maritime systems, avionics, cyber security, AFV systems, and commercial aircrafts, among others.
Other eVTOL aircraft market key players include Lift Aircraft Inc., Piasecki Aircraft Corporation, Moog Inc., Lilium GmbH, Volocopter GmbH, Wisk Aero LLC, and Vertical Aerospace Group Ltd., among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Lift Technology |
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Breakup by Mode of Operation |
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Breakup by Propulsion Type |
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Breakup by Range |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is projected to grow at a CAGR of 44.7% between 2024 and 2032.
The major market drivers include rising investments by the key players of the market towards product enhancement and increased emphasis on sustainable aviation practices.
The key trends fuelling the growth of the market include increasing military applications and rising environmental awareness and increasing concerns about the negative impact of using transportation systems running on fossil fuels.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The applications include commercial, military, and emergency medical service.
The different modes of operation include autonomous and piloted.
The different propulsion types include battery-electric, hydrogen-electric, and hybrid-electric.
The key players in the market are Archer Aviation Inc., Airbus SE, Elbit Systems Ltd., Lift Aircraft Inc., Piasecki Aircraft Corporation, Moog Inc., Lilium GmbH, Volocopter GmbH, Wisk Aero LLC, and Vertical Aerospace Group Ltd., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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