Allied Market Research

2024

Evtol Aircraft Market

eVTOL Aircraft Market Size, Share, Competitive Landscape and Trend Analysis Report by Technology (Multirotor, Vectored Thrust, Lift Plus Cruise), by Mode of Operation (Piloted, Autonomous), by Range (0 to 200 Kilometers, 200 to 500 Kilometers) and by End-Use (Commercial, Defense, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

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Author's: | Sonia Mutreja
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Global eVTOL Aircraft Market Outlook 2030 –

Electric vertical takeoff and landing aircraft are referred to as eVTOL aircraft. This is a system that deals with self-driving electric aircraft that provides enhanced safety and comfort. Electric vertical takeoff and landing aircraft market also contribute to the development of aircraft with less noise, resulting in less noise pollution. The electric vertical takeoff and landing aircraft market is improving operational efficiency with the goal of providing flexibility and convenience to customers. This electric aircraft travels quickly and perform concise tasks at a high speed. Major electric vertical takeoff and landing aircraft suppliers are developing infeasible solutions for communication and offering a more reliable customer experience.

COVID-19 Impact Analysis

The spread of the novel COVID-19 has hampered the rapidly developing economies. As a result, most economic sectors have suffered with aviation being one of the hardest hits.  Companies involved in the electric vertical takeoff and landing aircraft market faces a greater challenge. The   COVID-19 has had a negative impact on economies and businesses in a number of countries due to lockdowns, travel bans, and business shutdowns. The closure of various plants and factories has had a significant impact on global supply chains, affecting manufacturing, delivery schedules, and product sales in the global electric vertical takeoff and landing aircraft market.

Top Impacting Factor

  • Rise in participation of private companies, surge in demand for quick transportation solutions, and increase in levels of air traffic in the urban localities are the major factors that drive the growth of the eVTOL aircraft market.
  • Complexities of design, and lack of adequate infrastructure for the vertiport stations hinder the growth of the eVTOL aircraft market.
  • Need for Maintenance Repair Overhaul (MRO) & charging stations at vertiports, and rise in adoption of electric vertical takeoff and landing aircraft technology in commercial aviation industry are the opportunities for the electric vertical takeoff and landing aircraft market growth.

Increase in Levels of Air Traffic in the Urban Localities

 The concept of Urban Air Mobility (UAM) has become a viable economic proposition as a result of rapid technological development. People are continuously looking for better and safer methods to travel to work and other locations as road congestion worsens, particularly in megacities. The introduction of electric vertical takeoff and landing aircraft is one of the primary factors encouraging Unmanned Aerial Mobility. The Unmanned Aerial Mobility market framework necessitates architecture, technology, and business integration. Similarly, as the sky ports demand a lot of power and each port is supposed to have a charging station, architecture is crucial. For example, other than the established players like Boeing and Airbus, new entrants with suitable technological expertise seem to grow rapidly such as Uber, Joby Aviation, and Kitty Hawk. The Uber Elevate will have two business models- Uber Air and Uber Copter.

Rise in adoption of electric vertical takeoff and landing technology in commercial aviation industry

The evolution of electric vertical takeoff and landing aircraft coincides with the adoption of 5G and the Internet of Things. Aircraft will need to communicate with one another as well as with any control centers that may be present. Onboard sensors and collision avoidance systems will also require Internet of Things (IoT) integration. It is critical to have real-time information on location and maintenance requirements. For aircraft that can move in all directions, situational awareness is a difficult task. Artificial intelligence will play a significant role if self-driving electric vertical takeoff and landing aircraft take to the skies. Artificial intelligence will require dependable networks to communicate large amounts of data. The most important factors for efficiency are cost per kWh, battery capacity and weight, and charging speed. Changes to the infrastructure will also necessitate the installation of charging aircraft stations. For instance, electric charging stations similar to those used by Tesla vehicles, appear to be the most likely option. However, if other fuel systems become more popular in the coming years, those plans will be executed.

Key Benefits of the Report

  • This study presents the analytical depiction of the eVTOL aircraft market along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges the eVTOL aircraft market.
  • The current market is quantitatively analyzed to highlight the market growth scenario of electric vertical takeoff and landing market.
  • The report provides a detailed eVTOL aircraft market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Electric Vertical Takeoff and Landing Aircraft Market Research Report:

  • Who are the leading market players in the eVTOL aircraft market?
  • What are the critical challenges faced by manufacturers in the eVTOL aircraft market?
  • What are the market trends, driving factor and opportunities involved in this market?
  • What are the key segments covered in the eVTOL aircraft market?
  • What are the future projections of electric vertical takeoff and landing aircraft market that would help in taking further strategic steps?

eVTOL Aircraft Market Report Highlights

Aspects Details
eVTOL Aircraft Market By Technology
By Technology
  • Multirotor
  • Vectored Thrust
  • Lift Plus Cruise
eVTOL Aircraft Market By Mode of Operation
By Mode of Operation
  • Piloted
  • Autonomous
eVTOL Aircraft Market By Range
By Range
  • 0 to 200 Kilometers
  • 200 to 500 Kilometers
eVTOL Aircraft Market By End-Use
By End-Use
  • Commercial
  • Defense
  • Others
eVTOL Aircraft Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players
Key Market Players

Bell Textron Inc., Lilium GmbH, A³ by Airbus, Uber Technologies Inc., Workhorse, Karem Aircraft, Inc., Volocopter GmbH, OXIS Energy Ltd, Aurora Flight Sciences, TERRAFUGIA

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Evtol Aircraft Market

Global Opportunity Analysis and Industry Forecast, 2023-2032