According to the latest report by IMARC Group, titled “eVTOL Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global eVTOL aircraft market growth. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global eVTOL Aircraft market size reached US$ 9.44 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.62 Billion by 2027, exhibiting a growth rate (CAGR) of 14.30% during 2022-2027.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
EVTOL Aircraft Market Overview
eVTOL or electric vertical takeoff and landing aircraft usually relies on electric power to take off, hover, and land vertically.it comprises fixed-wing, multi-rotors, and tilt-wing aircraft having radar, sensors, cameras, etc. eVTOL aircraft utilizes distributed electric propulsion technology to integrate the propulsion system with the airframe and distribute multiple motors across the wing.In line with this, it also employs Diamond Nuclear Voltaic (DNV) technology, lithium, and hydrogen cell batteries to lower operating costs, increase efficiency, enhance safety, etc. eVTOL is extensively used by farmers for data gathering, crop dusting, crop management, and other farming operations. Consequently, eVTOL aircraft finds extensive applications in several industries, such as agriculture, defense, logistics, etc., across countries.
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Market Trends in the EVTOL Aircraft Market
The expanding transportation industry is primarily driving the eVTOL aircraft market. Additionally, the increasing traffic congestion is further catalyzing the market growth.Besides this, the widespread adoption of eVTOL ambulances in the healthcare industry to extend medical support and minimize emergency medical services response time is positively influencing the global market. Moreover, it is utilized to provide continuous and precise project notifications, survey lands, improve safety, prevent dangerous incidents on construction sites, etc., which is acting as another significant growth-inducing factor. Apart from this, the escalating demand for eVTOL aircraft, on account of various associated benefits, such as lesser environmental impact, generating no noise, flying at a lower altitude, etc., is also propelling the market growth. Furthermore, the growing investments in RD activities to introduce advanced technologies for improving aircraft performance, design, and power output are anticipated to fuel the eVTOL aircraft market over the forecasted period.
Global Tracking as a Service Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the eVTOL Aircraft Market market has been studied in the report with the detailed profiles of the key players operating in the market.
Airbus SE, Archer Aviation Inc., Beta Technologies, Guangzhou EHang Intelligent Technology Co. Ltd, Lift Aircraft Inc., Lilium GmbH, Moog Inc., Piasecki Aircraft Corporation, Pipistrel d.o.o Ajdovšcina, Vertical Aerospace Group Ltd., Volocopter GmbH, Wisk Aero LLC and Xti Aircraft Company.
Breakup by Lift Technology:
- Vectored Thrust
- Multirotor
- Lift Plus Cruise
Breakup by Mode of Operation:
- Piloted
- Autonomous
- Semi-Autonomous
Breakup by Maximum Take-off Weight (MTOW):
- 250 Kg
- 250-500 Kg
- 500-1500 Kg
- 1500 Kg
Breakup by Range:
- 0-200 Km
- 200-500 Km
Breakup by Propulsion Type:
- Battery-Electric
- Hybrid-Electric
- Hydrogen-Electric
Breakup by Application:
- Commercial
- Air Taxi
- Delivery Drones
- Military
- Cargo Transport
- Combat Mission
- Emergency Medical Service
- Air Ambulance
- Medical Cargo Transport
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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