eVTOL Aircraft Global Market to Reach $18.92 Billion by 2026

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Sep 27, 2022, 15:45 ET

DUBLIN, Sept. 27, 2022 /PRNewswire/ -- The "eVTOL Aircraft Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.

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 market is expected to grow to $18.92 billion in 2026 at a compound annual growth rate (CAGR) of 23.66%.

North America was the largest region in the eVTOL aircraft market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the eVTOL aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The growing need for green energy and noise-free aircraft is propelling the growth of the eVTOL aircraft market. The strive for greater fuel efficiency and reduction of noise pollution is the central need to reduce environmental impact. The energy for eVTOL aircraft is generated by powered lift designs using turbofan engines with auxiliary/ augmented lift fans.

Most electric-powered VTOL aircraft being developed today will use distributed electric propulsion (DEP) as a gateway to sustainable aviation. For instance, in March 2020, according to Aan article published by Dassault Systemes, a Europe-based company, estimated the growing need for eVTOL aircraft where the market will grow exponentially, to an estimated 1.3 billion passengers over 20 years, with a demand for 28,000 eVTOL aircraft. Therefore, the growing need for green energy and noise-free aircraft will drive the growth of the eVTOL aircraft market.

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 cell, Onboard sensors and collision prevention systems, AI technology, 5G communication, and others. For instance, In April 2022, Hyundai, an automotive manufacturer company, explored hydrogen fuel cell technology for the electric short Take-off and landing eVTOL aircraft segment. The company expects hydrogen fuel cell technology to have a long enough range to complete intercity trips.

In December 2020, Joby Aviation, a US-based aerospace company, developing an electric vertical takeoff and landing aircraft acquired Uber Elevate for an undisclosed amount. This acquisition of Uber elevate will create integration between ground and air travel for future customers by integrating their respective services into each other's apps for joby aviation. Uber Elevate is a US-based company initiative to develop, deploy and eventually offer consumers an air-based taxi travel service.

Scope

Markets Covered:

1) By Lift Technology: Vectored Thrust; Multirotor; Lift Plus Cruise
2) By Propulsion Type: Fully Electric; Hybrid Electric; Hydrogen Electric
3) By Mode of Operation: Autonomous; Piloted
4) 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

Key Topics Covered:

1. Executive Summary

2. eVTOL Aircraft Market Characteristics

3. eVTOL Aircraft Market Trends And Strategies

4. Impact Of COVID-19 On eVTOL Aircraft

5. eVTOL Aircraft Market Size And Growth

6. eVTOL Aircraft Market Segmentation

7. eVTOL Aircraft Market Regional And Country Analysis

8. Asia-Pacific eVTOL Aircraft Market

9. China eVTOL Aircraft Market

10. India eVTOL Aircraft Market

11. Japan eVTOL Aircraft Market

12. Australia eVTOL Aircraft Market

13. Indonesia eVTOL Aircraft Market

14. South Korea eVTOL Aircraft Market

15. Western Europe eVTOL Aircraft Market

16. UK eVTOL Aircraft Market

17. Germany eVTOL Aircraft Market

18. France eVTOL Aircraft Market

19. Eastern Europe eVTOL Aircraft Market

20. Russia eVTOL Aircraft Market

21. North America eVTOL Aircraft Market

22. USA eVTOL Aircraft Market

23. South America eVTOL Aircraft Market

24. Brazil eVTOL Aircraft Market

25. Middle East eVTOL Aircraft Market

26. Africa eVTOL Aircraft Market

27. eVTOL Aircraft Market Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions In The eVTOL Aircraft Market

29. eVTOL Aircraft Market Future Outlook and Potential Analysis

30. Appendix

Companies Mentioned