What is Global eVTOL Aircrafts Market?
The Global eVTOL Aircrafts Market is a rapidly evolving sector that is reshaping the future of transportation. eVTOL, which stands for electric Vertical Take-Off and Landing, refers to aircrafts that can ascend, hover, and descend vertically. This technology is a key component in the emerging urban air mobility (UAM) industry, which aims to introduce aerial commuting in urban settings to bypass traffic congestion. The global market for these aircrafts is driven by the need for efficient and speedy transportation, coupled with advancements in drone technology and electric propulsion. The market is also fueled by the increasing acceptance and anticipated commercialization of passenger drones and air taxis. However, the market's growth could be hindered by regulatory hurdles and public acceptance. Despite these challenges, the eVTOL aircrafts market holds immense potential for the future of transportation.
Electric, Hydrogen Fuel Cell, Hybrid in the Global eVTOL Aircrafts Market:
The Global eVTOL Aircrafts Market is segmented based on the type of power source into Electric, Hydrogen Fuel Cell, and Hybrid. Electric eVTOLs are currently leading the market due to their efficiency, sustainability, and lower operational costs. These aircrafts use electric power for vertical take-off and landing, reducing the need for runways and enabling point-to-point travel. On the other hand, Hydrogen Fuel Cell eVTOLs are gaining traction due to their longer flight range and quick refueling times. These aircrafts use hydrogen gas as a power source, which only emits water, making it an environmentally friendly option. Lastly, Hybrid eVTOLs combine the benefits of both electric and fuel cell technology. They offer extended range and endurance, making them suitable for longer flights. The choice of power source depends on the specific requirements of the use-case, such as flight duration, payload capacity, and noise considerations.
Air Tour, Medical Emergency Transportation, Logistics Transportation, Transit, Others in the Global eVTOL Aircrafts Market:
The Global eVTOL Aircrafts Market finds its application in various areas such as Air Tour, Medical Emergency Transportation, Logistics Transportation, Transit, and others. Air Tours are expected to be one of the early adopters of eVTOLs, providing tourists with a unique and efficient way to experience cityscapes. In the field of Medical Emergency Transportation, eVTOLs can play a crucial role in transporting patients or medical supplies in a timely manner, especially in congested urban areas or remote locations. For Logistics Transportation, eVTOLs offer a solution for quick and efficient delivery of goods, especially for last-mile deliveries. In terms of Transit, eVTOLs can provide a fast and convenient mode of transportation for commuters in densely populated cities. Other potential applications include law enforcement, search and rescue missions, and even personal use.
Global eVTOL Aircrafts Market Outlook:
Looking at the market outlook, the Global eVTOL Aircrafts Market is showing promising growth. In 2023, the market was valued at a modest US$ 37 million. However, it is projected to skyrocket to a staggering US$ 25240 million by 2030. This represents a Compound Annual Growth Rate (CAGR) of 152.2% during the forecast period from 2024 to 2030. This exponential growth is largely driven by the Electric eVTOL segment, which currently holds nearly 100% of the market share. This data underscores the immense potential and rapid growth of the eVTOL Aircrafts Market.
| Report Metric | Details |
| Report Name | eVTOL Aircrafts Market |
| Accounted market size in 2023 | US$ 37 million |
| Forecasted market size in 2030 | US$ 25240 million |
| CAGR | 152.2% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | EHang, Airbus, Airspace Experience Technologies, Aurora Flight Sciences, Bell Aircraft Corporation, The Boeing Company, Embraer, Overair, Lilium, Neva Aerospace, Opener, Pipistrel, Volocopter, Moog, Porsche, Autonomous Flight, Alaka'i Technologies, Cartivator SkyDrive, Joby Aviation, Kitty Hawk, Sabrewing |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
