eVTOL Aircraft Market is expected grow with a CAGR of 18.56% over the forecast period 2021 to 2027. Increasing technological developments, rising environmental pollution & traffic congestion along with growing priority towards renewable energy resources are anticipated to drive the growth of Global eVTOL Aircraft Market.
During Covid-19 pandemic, the government has imposed the restriction on movement has led to significant drop in eVTOL market which is limited to few economies. The post covid-19 era is anticipated to grow at fast pace due to the increased social distancing and increasing connectivity between smaller cities.
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eVTOL aircraft includes the electric vertical takeoff and landing aircraft which are meant to be used for air taxis and urban air mobility. This aircraft uses new technology which helps in moving faster, quieter with autonomous flight capabilities. The increasing world population and urbanization is leading to rise in traffic congestion which leads to more pollution, wastage of time, high travelling cost with faster depletion of fossil fuel. The increased focus on environmental issues has shifted the attention towards renewable energy source and efficient means of travel. The dependence of eVTOL on electricity helps in reducing CO2 up to 50% and at reduced cost than jet fuel.
eVTOL Aircraft Market Key Players:
- A³ by Airbus
- Uber Technologies
- Aurora Flight Sciences
- Bell Textron
- Kitty Hawk
- Karem Aircraft
- Neva Aerospace
- LIFT Aircraft
- Pipistrel Group
- Vertical Aerospace
- Joby Aviation
- Amprius Technologies
- Sion Power Corporation
- EaglePicher Technologies
- OXIS Energy
- MGM COMPRO
- Bell Helicopter
Global eVTOL Aircraft Market Segmentation:
By Mode of Operation:
- Optionally Piloted
By Lift Technology:
- Vectored Thrust
- Lift Plus Cruise
- 0 to 200 Km
- 200 to 500 Km
- <250 Kilograms
- 250–500 Kilograms
- 500–1,500 Kilograms
- >1,500 Kilograms
News: United Airlines Has Ordered Electric Vertical Aircraft from Archer
On February 10th 2021; Archer, a start-up developing electric vertical takeoff and landing aircraft has received order for 200 eVTOL aircraft for $1billion with an option to purchase 100 more for $500 million from United Airlines. First aircraft is expected to deliver in 2024 which would carry 4 passengers up to 60 miles with speed of max 150 mph.
Increasing Technological Developments and Growing Need to Improve Operational Efficiency and Rising Traffic Congestion are the Major Factor Driving the Growth of Global eVTOL Aircraft Market.
The major factor driving the growth of global eVTOL aircraft market is the increasing technological advancements and investments to improve the operational efficiency and growing focus on deployment of renewable energy to address the environmental issues. In addition, increasing population and growing urbanization has led to traffic congestion in most parts of world resulted in Jam from minutes to days.
North America is Anticipated to Dominate the Global eVTOL Aircraft Market.
The global eVTOL aircraft market is segmented into North America, Europe, Asia-Pacific Latin America and Middle East & Africa. North America is expected to dominate the global eVTOL aircraft market within the forecast period due to the technological advanced industries focusing on automation with early adopter population in this region. In addition, the government support and agreement to develop technology along with high investment leads to faster growth in this region.
Key Benefits for Global eVTOL Aircraft Market Report
- Global eVTOL Aircraft Market report covers in-depth historical and forecast analysis.
- Global eVTOL Aircraft Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global eVTOL Aircraft Market report helps to identify opportunities in marketplace.
- Global eVTOL Aircraft Market report covers extensive analysis of emerging trends and competitive landscape.
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