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eVTOL Aircraft Market Report Scope & Overview:

The eVTOL Aircraft Market size was valued at USD 1.2 billion in 2023 and is projected to reach USD 8.1 billion by 2031 with a growing CAGR of 26.9% during the forecast period 2024-2031.

The growth of this market is mainly driven by the growing need for green energy and noise-free aircraft and the increasing use of eVTOL aircraft for cargo applications and the increasing demand for an alternative mode of transport.

eVTOL Aircraft Market Revenue Analysis

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Electric vertical takeoff and landing aircraft are referred to as eVTOL aircraft. This is a system that deals with self-driving electric airplanes that provide increased services in terms of safety and comfort. They also aid in the production of less noise, resulting in reduced noise pollution. The eVTOL aircraft industry is increasing operating efficiency with the goal of improving customer experience by providing flexibility and convenience. It also aids in speedy transit. These are electric airplanes that do brief tasks at a high pace.

MARKET DYNAMICS

KEY DRIVERS

  • Growing need for green energy and noise-free aircraft.

  • Increase in CO2 emissions.

  • Need for speedy transportation.

RESTRAINTS

  • Complexities of design.

  • Lack of adequate infrastructure. 

OPPORTUNITIES

  • Strategic developments in eVTOL aircraft.

  • Growth opportunities for developers.

  • Demand for lithium metal batteries.

CHALLENGES

  • Safety issues

  • Flying would be safe.

THE IMPACT OF COVID-19

The spread of the new Covid-19 has reached historic proportions in the world's mushrooming economy. Most economic sectors have been affected, with aviation being one of the most afflicted. The issue is greater for enterprises involved in the eVTOL aircraft sector. Prior to the pandemic, the eVTOL aircraft market had rapid development while being in its early stages. In certain nations, people expect shared flight models to be reliable. The value proposition varies greatly depending on the travel time on rush trips.

Governments are attempting to designate appropriate budget sections while cooperating with corporations to boost workforce connections in order to mitigate the effects of the epidemic.

IMPACT OF UKRAINE AND RUSSIA CRISIS

International commercial and commercial airlines will experience the effects of the Russian invasion of Ukraine in the form of widespread economic instability, uncertain need for air travel, airline restrictions, and other issues. But the results can vary greatly between regions, carriers, and manufacturers.

While potential conflicts are yet to come, the collision has begun to pose a challenge for air travel. Russia has issued a NOTAM (notification of air traffic control) ban on public flights on Ukraine's northeastern border. That includes the area where Russian troops have gathered in recent weeks. NOTAM is still active until May 18th.

At the same time, Ukraine has closed its airline base, according to an announcement Thursday. Citizens' flight tracking sites now show flights crossing conflicting areas with wide gears.

Competitive Landscape

The subsidiaries of China and Singapore, are expected to grow with a good record by the end of 2027 and have a projected growth record set for the next year 2028. Companies in the Asia-Pacific region are pushing for ever-increasing styles. related to global trade, as well as automation. These agencies set the stage for commercial aviation testing. This will enable these companies to produce large amounts of taxi services, contracts, and partnerships, from the future of 2022.

KEY MARKET SEGMENTATION

By Propulsion Type

  • Fully Electric

  • Hybrid Electric

  • Hydrogen Electric

By MTOW

  • <100 kg

  • 100–1000 kg

  • 1,000–2,000 kg

  • >2,000 kg

By System

  • Batteries & Cells

  • Electric Motor/Engine

  • Aerostructures

  • Avionics

  • Software

  • Others

By Lift Technology

  • Vectored Thrust

  • Multirotor

  • Lift plus Cruise

By Mode of Operation

  • Autonomous

  • Piloted

By Range

  • <= 200 km

  • > 200 km

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

REGIONAL ANALYSIS

The e-VTOL aviation market covers areas such as Europe, Asia-Pacific countries, North America, Latin America, Africa and the Middle East. North America dominated the market share for the past year 1028, and the same is expected at the end of the current 2028 forecast period. There are major market players who successfully demonstrate the technology to be used and the new work solutions. There is a growing investment made by the US Army end to acquire aviation market resources and help them reach the market target expected by the end of 2028.

Europe enjoyed the second largest market share at the end of 2022. This has resulted in the acquisition of infrastructure, the development of flexible designs, and, west port channels. The Canadian military also opted for investment to encourage developers related to military eVTOL services. The airline segment is expected to have the highest market value by the end of the forecast period 2022-2028. 28.98% CAGR growth is expected in the airbus sector by the end of the 2028 forecast period. This makes less noise compared to a normal airplane.

eVTOL Aircraft Market By Region

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REGIONAL COVERAGE:

North America

  • USA

  • Canada

  • Mexico

Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of Middle East & Africa

Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

KEY PLAYERS

The key players are Jaunt Air Mobility, Lilium, EHang, Airbus SE, Elbit Systems, Bell Textron Inc., Embraer SA, Isreal Aerospace Industries, Pipistrel, Elroy AIR, Joby Aviation, Archer Aviation Inc., SZ DJI Technology Co. Ltd., Samad Aerospace, Aurora Flight Sciences, vertical Aerospace Group Ltd., Urban Aeronautics Ltd. and Other Players

Airbus SE-Company Financial Analysis

Company Landscape Analysis

eVTOL Aircraft Market Report Scope:

Report Attributes Details
Market Size in 2023  US$ 1.2 Billion
Market Size by 2031  US$ 8.1 Billion
CAGR  CAGR of 26.9% From 2024 to 2031
Base Year  2023
Forecast Period  2024-2031
Historical Data  2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Propulsion Type (Fully Electric, Hybrid Electric, Hydrogen Electric)
• By MTOW (<100 kg, 100–1000 kg, 1,000–2,000 kg, >2,000 kg)
• By System (Batteries & Cells, Electric Motor/Engine, Aerostructures, Avionics, Software, Others)
• By Lift Technology (Vectored Thrust, Multirotor, Lift plus Cruise)
• By Mode of Operation (Autonomous, Piloted)
• By Range (<= 200 km, > 200 km)
• 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)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Jaunt Air Mobility, Lilium, EHang, Airbus SE, Elbit Systems, Bell Textron Inc., Embraer SA, Isreal Aerospace Industries, Pipistrel, Elroy AIR, Joby Aviation, Archer Aviation Inc., SZ DJI Technology Co. Ltd., Samad Aerospace, Aurora Flight Sciences, vertical Aerospace Group Ltd., Urban Aeronautics Ltd.
Key Drivers • Growing need for green energy and noise-free aircraft.
• Increase in CO2 emissions.
RESTRAINTS • Complexities of design.
• Lack of adequate infrastructure.

Frequently Asked Questions

According to SNS insiders, the eVTOL Aircraft Market size was USD 1.2 billion in 2023 and is expected to reach USD 8.1 billion by 2031 with a CAGR of  26.9% over the forecasted period.

International commercial and commercial airlines will experience the effects of the Russian invasion of Ukraine in the form of widespread economic instability, uncertain need for air travel, airline restrictions, and other issues. But the results can vary greatly between regions, carriers, and manufacturers.

The spread of the new Covid-19 has reached historic proportions on the world's mushrooming economy. Most economic sectors have been affected, with aviation being one of the most afflicted. The issue is greater for enterprises involved in the eVTOL aircraft sector. Prior to the pandemic, the eVTOL aircraft market had rapid development while being in its early stages.

North America, Asia-Pacific, The Middle East & Africa, Latin America,Europe are the major five region covered in this report.

Growing need for green energy and noise-free aircraft and Need for the speedy transportation.

Table of Contents

1. Introduction

1.1 Market Definition 

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia War

4.3 Impact of Ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

8. eVTOL Aircraft Market Segmentation, By Propulsion Type

8.1 Fully Electric

8.2 Hybrid Electric

8.3 Hydrogen Electric

9. eVTOL Aircraft Market Segmentation, By MTOW

9.1 <100 kg

9.2 100–1000 kg

9.3 1,000–2,000 kg

9.4 >2,000 kg

10. eVTOL Aircraft Market Segmentation, By System

10.1 Batteries & Cells

10.2 Electric Motor/Engine

10.3 Aerostructures

10.4 Avionics

10.5 Software

10.6 Others

11. eVTOL Aircraft Market Segmentation, By Lift Technology

11.1 Vectored Thrust

11.2 Multirotor

11.3 Lift plus Cruise

12. eVTOL Aircraft Market Segmentation, By Mode of Operation

12.1 Autonomous

12.2 Piloted

13. eVTOL Aircraft Market Segmentation, By Range

13.1 <= 200 km

13.2 > 200 km

14. eVTOL Aircraft Market Segmentation, By Application

14.1 Air Taxis

14.2 Air Shuttles & Air Metro

14.3 Private Transport

14.4 Cargo Transport

14.5 Air Ambulance & Medical Emergency

14.6 Last Mile Delivery

14.7 Inspection & Monitoring

14.8 Surveying & Mapping

14.9 Surveillance

14.10 Special Mission

14.11 Others

15. Regional Analysis

15.1 Introduction

15.2 North America

15.2.1 USA

15.2.2    Canada

15.2.3    Mexico

15.3    Europe

15.3.1    Germany

15.3.2    UK

15.3.3    France

15.3.4    Italy

15.3.5    Spain

15.3.6    The Netherlands

15.3.7    Rest of Europe

15.4    Asia-Pacific

15.4.1    Japan

15.4.2    South Korea

15.4.3    China

15.4.4    India

15.4.5    Australia

15.4.6    Rest of Asia-Pacific

15.5    The Middle East & Africa

15.5.1    Israel

15.5.2    UAE

15.5.3    South Africa

15.5.4    Rest

15.6    Latin America

15.6.1    Brazil

15.6.2    Argentina

15.6.3    Rest of Latin America

16. Company Profiles
16.1 Jaunt Air Mobility
16.1.1 Financial
16.1.2 Products/ Services Offered
16.1.3 SWOT Analysis
16.1.4 The SNS view
16.2 Lilium
16.4 EHang
16.5 Airbus SE
16.6 Elbit Systems
16.3 Bell Textron Inc.
16.7 Embraer SA
16.8 Isreal Aerospace Industries
16.9 Pipistrel
16.10 Elroy AIR
16.11 Joby Aviation
16.12 Archer Aviation Inc.
16.13 SZ DJI Technology Co. Ltd.
16.14 Samad Aerospace
16.15 Aurora Flight Sciences
16.16 Vertical Aerospace Group Ltd.
16.17 Urban Aeronautics Ltd.

17. Competitive Landscape

17.1 Competitive Benchmark

17.2 Market Share Analysis

17.3 Recent Developments

18. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

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This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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