Global eVTOL Aircraft Market to reach USD 19.97 billion by 2027.Global eVTOL Aircraft Market is valued approximately USD 7.37 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 15.3 % over the forecast period 2021-2027. eVTOL aircraft is referred to as an electrical vertical takeoff and landing aircraft. This system deals with self-driving electric aircraft, which aids in providing more safety, and less noise pollution. The technological advancements in the eVTOL industry will be a driving factor for market growth. For instance, Pipistrel's new aircrafts started using Honeywell's compact satellite technology, from August 2021. Honeywell's UAV SATCOM system is 90% lighter than company's smallest communication system, yet it will provide Nuuva V300, V20, and Surveyor same capabilities as big aircrafts. Rising adoption of eVTOL aircrafts in private aviation industry will also boost the market growth. In July 2021, CAE and Volocopter entered into a partnership to design, certify, and implement pilot training program for eVTOL operations. This will help in creating eVTOL pilot workforce for future. In addition, need for reducing noise pollution and need for green energy will also drive the market for eVTOL aircrafts. However, safety issues associated with eVTOl aircrafts can impede the growth of the market over the forecast period of 2021-2027. Also, with the strategic developments in eVTOL aircrafts, the adoption & demand for EVTOL Aircraft Market is likely to increase the market growth during the forecast period.
The regional analysis of global EVTOL Aircraft Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the biggest UAV fleet utilized in Military and Civil applications. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027, due to congestion in air traffic in regions like India, China and Japan.
Major market player included in this report are:
Airbus SE
Elbit Systems Ltd.
Bell Textron Inc.
Ehang Holdings Ltd.
Embraer SA
Israel Aerospace Industries
Pipistrel
Elroy Air
Lilium GMBH
Joby Aviation, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Lift Technology:
Vectored Thrust
Multirotor
Lift Plus Cruise
By Propulsion Type:
Fully Electric
Hybrid Electric
Hydrogen Electric
By System:
Batteries & Cells
Electric Motor/Engine
Aerostructures
Avionics
Software
Others
By Application:
Air Taxis
Air Shuttles & Air Metro
Private Transport
Cargo Transport
Air Ambulance & Medical Emergency
Last Mile Delivery
Inspection & Monitoring
Surveying & Mapping
Surveillance
Special Mission
Others
By mode of Operation:
Autonomous
Piloted
By MTOW:
<100 kg
100-1000 kg
1,000-2,000 kg
>2,000 kg
By Range:
<= 200 km
> 200 km
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027
Target Audience of the Global EVTOL Aircraft Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
