About eVTOL Aircraft
An electric vertical take-off and landing (VTOL) aircraft is one that can hover, take off, and land vertically and it includes eight lift rotors for vertical takeoff and cruise propeller and wing to transition to high-speed forward cruise. The eVTOL is basically used for short-haul transport of passengers or cargo and current formation of eVTOL allows two passengers including the pilot plus luggage. These aircraft provides on-demand transportation to minimize long commutes due to heavy traffic and urbanization in populated areas. It consist of electric operation which decreases or eliminates emissions and noise pollution for a quieter flight.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 14.5% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global eVTOL Aircraft market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Kitty Hawk (United States), Lilium (Germany), EHang (China), Volocopter (Germany), Bell Helicopter (United States), A3 by Airbus (United States), Aurora Flight Sciences (United States), Embraer (Brazil), Workhorse (United States), Pipistrel (Slovenia), Neva Aerospace (United Kingdom), Opener (Canada) and Fraport (Germany) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global eVTOL Aircraft market by Type (Fully Electric, Hybrid and Electric Hydrogen), Application (Military, Commercial and Cargo) and Region.
On the basis of geography, the market of eVTOL Aircraft has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Technology, the sub-segment i.e. Vectored Thrust will boost the eVTOL Aircraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mode of Operation, the sub-segment i.e. Pilot will boost the eVTOL Aircraft market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of Drone Infrastructure and Growing Demand for an Alternative Mode of Transportation in Urban Cities
Market Growth Drivers:
Increasing Need for Quick Transportation and Increasing Road Traffic Congestion in Urban Areas
Challenges:
Infrastructure of City or Country
Restraints:
High Cost of eVTOL Aircraft
Opportunities:
Advancements in the Manufacturing Capability and Increasing Investments from Various Manufacturers in Commercial Applications
Market Leaders and their expansionary development strategies
On 8th June 2021, Kitty Hawk is the latest eVTOL developer to join the U.S. Air Force’s Agility Prime program, collaborating with the service to explore possible dual uses of its commercial Heaviside aircraft.
In July 2023, Joby Aviation acquired Uber Elevate. This major deal combines Joby's eVTOL aircraft expertise with Uber's ride-sharing network and urban mobility vision, creating a powerhouse in the air taxi space.
On July 2, EASA formally published its “Special Condition for Small-Category Vertical Take-Off and Landing (VTOL) Aircraft” (SC-VTOL). This is a major step forward for the certification of eVTOL vehicles. However, this special condition has what may be a fatal flaw: as a totally new category that isn’t an airplane, rotorcraft, balloon, or another type of regulated aircraft, there are no operating procedures for “VTOL” aircraft, and developing them is outside of EASA’s purview — EASA’s regulatory authority is more limited than those of the FAA. Furthermore, the levels of safety EASA required for UAM air taxi missions are equivalent to that of airliners, regardless of the number of passengers.
Key Target Audience
Manufacturers of eVTOL Aircraft, Suppliers of eVTOL Aircraft, Wholesalers, Distributors and Retailers of eVTOL Aircraft, Aerospace Industry and Governmental Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.