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Global eVTOL Aircraft Market Size, Share, Trends, Forecast: By Lift Technology: Lift Plus Cruise, Multirotor, Vectored Thrust; By Mode of Operation: Autonomous, Piloted; By Propulsion Type: Battery-Electric, Hydrogen-Electric, Hybrid-Electric; By Range; By Application; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Global eVTOL Aircraft Market Outlook
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.
Key Trends in the Market
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.
- The rising environmental awareness and increasing concerns about the negative impact of using transportation systems running on fossil fuels is boosting the eVTOL aircraft market growth. An eVTOL operates on electricity, therefore it does not release any carbon emissions during flight.
- The increasing utilisation of eVTOLs for a wide range of military applications owing to their high speed and long-range capabilities is aiding the market expansion. These aircrafts are used for transportation, logistics, and reconnaissance and are suitable for rapid delivery of equipment and troops in difficult to access and remote locations. The potential of eVTOLs for medical evacuations and search and rescue missions is further boosting their adoption by various militaries.
- The rising investments by the key players of the market towards product enhancement and research and development activities to support urban air mobility for reducing travel time and traffic congestion is providing lucrative growth opportunities to the market.
Global eVTOL Aircraft Market Analysis
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.
- Archer Aviation Inc.
- Airbus SE
- Elbit Systems Ltd.
- Lift Aircraft Inc.
- Piasecki Aircraft Corporation
- Moog Inc.
- Lilium GmbH
- Volocopter GmbH
- Wisk Aero LLC
- Vertical Aerospace Group Ltd.
- Others
Market Share by Mode of Operation
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.
Market Share by Region
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.
Competitive Landscape
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.
Key Highlights of the Report
| 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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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global eVTOL Aircraft Market Analysis
8.1 Key Industry Highlights
8.2 Global eVTOL Aircraft Historical Market (2018-2023)
8.3 Global eVTOL Aircraft Market Forecast (2024-2032)
8.4 Global eVTOL Aircraft Market by Lift Technology
8.4.1 Lift Plus Cruise
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Multirotor
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Vectored Thrust
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 Global eVTOL Aircraft Market by Mode of Operation
8.5.1 Autonomous
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Piloted
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global eVTOL Aircraft Market by Propulsion Type
8.6.1 Battery-Electric
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Hydrogen-Electric
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Hybrid-Electric
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.7 Global eVTOL Aircraft Market by Range
8.7.1 0 Km – 200 Km
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 200 Km – 500 Km
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global eVTOL Aircraft Market by Application
8.8.1 Commercial
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Military
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Emergency Medical Service
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.9 Global eVTOL Aircraft Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2023)
8.9.1.2 Forecast Trend (2024-2032)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2023)
8.9.2.2 Forecast Trend (2024-2032)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2023)
8.9.3.2 Forecast Trend (2024-2032)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2023)
8.9.4.2 Forecast Trend (2024-2032)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2023)
8.9.5.2 Forecast Trend (2024-2032)
9 North America eVTOL Aircraft Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe eVTOL Aircraft Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific eVTOL Aircraft Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America eVTOL Aircraft Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa eVTOL Aircraft Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Archer Aviation Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Airbus SE
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Elbit Systems Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Lift Aircraft Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Piasecki Aircraft Corporation
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Moog Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Lilium GmbH
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Volocopter GmbH
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Wisk Aero LLC
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Vertical Aerospace Group Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global eVTOL Aircraft Market: Key Industry Highlights, 2018 and 2032
2. Global eVTOL Aircraft Historical Market: Breakup by Lift Technology (USD Million), 2018-2023
3. Global eVTOL Aircraft Market Forecast: Breakup by Lift Technology (USD Million), 2024-2032
4. Global eVTOL Aircraft Historical Market: Breakup by Mode of Operation (USD Million), 2018-2023
5. Global eVTOL Aircraft Market Forecast: Breakup by Mode of Operation (USD Million), 2024-2032
6. Global eVTOL Aircraft Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
7. Global eVTOL Aircraft Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
8. Global eVTOL Aircraft Historical Market: Breakup by Range (USD Million), 2018-2023
9. Global eVTOL Aircraft Market Forecast: Breakup by Range (USD Million), 2024-2032
10. Global eVTOL Aircraft Historical Market: Breakup by Propulsion Type (USD Million), 2018-2023
11. Global eVTOL Aircraft Market Forecast: Breakup by Propulsion Type (USD Million), 2024-2032
12. Global eVTOL Aircraft Historical Market: Breakup by Application (USD Million), 2018-2023
13. Global eVTOL Aircraft Market Forecast: Breakup by Application (USD Million), 2024-2032
14. Global eVTOL Aircraft Historical Market: Breakup by Region (USD Million), 2018-2023
15. Global eVTOL Aircraft Market Forecast: Breakup by Region (USD Million), 2024-2032
16. North America eVTOL Aircraft Historical Market: Breakup by Country (USD Million), 2018-2023
17. North America eVTOL Aircraft Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Europe eVTOL Aircraft Historical Market: Breakup by Country (USD Million), 2018-2023
19. Europe eVTOL Aircraft Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Asia Pacific eVTOL Aircraft Historical Market: Breakup by Country (USD Million), 2018-2023
21. Asia Pacific eVTOL Aircraft Market Forecast: Breakup by Country (USD Million), 2024-2032
22. Latin America eVTOL Aircraft Historical Market: Breakup by Country (USD Million), 2018-2023
23. Latin America eVTOL Aircraft Market Forecast: Breakup by Country (USD Million), 2024-2032
24. Middle East and Africa eVTOL Aircraft Historical Market: Breakup by Country (USD Million), 2018-2023
25. Middle East and Africa eVTOL Aircraft Market Forecast: Breakup by Country (USD Million), 2024-2032
26. Global eVTOL Aircraft Market Structure
Key Questions Answered in the Report
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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