Global EVTOL Aircraft Market Overview And Prospects – Includes EVTOL Aircraft Market Size
Learn about the global eVTOL aircraft market through The Business Research Company, which provides information on eVTOL aircraft market size, eVTOL aircraft market drivers and restraints, eVTOL aircraft market players, the COVID-19 impact on the eVTOL aircraft market, and more.
The global eVTOL aircraft market is expected to grow from $6.73 billion in 2021 to $8.09 billion in 2022 at a compound annual growth rate (CAGR) of 20.16%. The global eVTOL aircraft market size is expected to grow to $18.92 billion in 2026 at a compound annual growth rate (CAGR) of 23.66%.
The growing need for green energy and noise-free aircraft is propelling the growth of the eVTOL aircraft market.
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The eVTOL aircraft market consists of sales of eVTOL aircraft by entities (organizations, sole traders, and partnerships) that refer to electric vertical takeoff and landing aircraft that use electric power to hover, take off, and land vertically. The focus of eVTOL is to offer a new class of aircraft that revolutionizes inter-and intra-city movement, providing quick, direct, and clean mobility. It uses motors, batteries, fuel cells, and electronic controllers to generate electric power for hovering, taking off, and landing vertically.
Global eVTOL aircraft market segments include:
By Lift Technology: Vectored Thrust, Multirotor, Lift Plus Cruise
By Propulsion Type: Fully Electric, Hybrid Electric, Hydrogen Electric
By Mode of Operation: Autonomous, Piloted
By Application: Air Taxis, Air Shuttles and Air Metro, Private Transport, Cargo Transport, Air Ambulance and Medical Emergency, Last Mile Delivery, Inspection and Monitoring, Surveying and Mapping, Surveillance, Special Mission, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global eVTOL aircraft market in 2021
Technological advancement is a key trend gaining popularity in the eVTOL aircraft market. Major companies operating in the eVTOL aircraft market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation eVTOL aircraft technologies into their services, such as IoT, ultra edge hydrogen and battery cells, onboard sensors and collision prevention systems, AI technology, 5G communication, and others.
Major Market Players: Airbus SE, Bell Textron Inc., Embraer SA, EHang Holdings Ltd, Elbit Systems Ltd., Kitty Hawk, Lilium, Volocopter GmbH, Joby Aviation, Urban Aeronautics Ltd., Pipistrel, Moog Inc., The Boeing Co., Karem Aircraft Inc., Lift Aircraft, Aurora Flight Sciences, Workhorse, Elroy Air, Textron Inc., SkyDrive Inc., Neva Aerospace, Opener Inc., Workhorse Group, Uber Technologies Inc., Terrafugia, Archer Aviation Inc., Jaunt Air Mobility LLC, Overair Inc., and Samad Aerospace.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The EVTOL Aircraft Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides eVTOL aircraft market overviews, analyzes and forecasts market size, share, eVTOL aircraft market players, eVTOL aircraft market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s eVTOL aircraft market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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