IMARC Group has recently released a new research study “EVTOL Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the EVTOL aircraft industry?
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.
What is a EVTOL Aircraft ?
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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what are the key factors driving 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 R&D 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.
Who are the key players/companies in the global EVTOL aircraft 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.
|EVTOL Aircraft Market Report Scope|
|Market size value in 2021||US$ 9.44 Billion|
|Market forecast in 2027||US$ 21.62 Billion|
|Growth Rate||CAGR of 14.30% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends|
|Segments covered||Lift Technology, Mode Of Operation, Maximum Take-Off Weight (MTOW), Range, Propulsion Type And Application|
|Regional scope||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Key companies profiled||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.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
Click here to view detailed information with table of content: https://www.imarcgroup.com/evtol-aircraft-market
Breakup by Lift Technology:
- Vectored Thrust
- Lift Plus Cruise
Breakup by Mode of Operation:
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:
Breakup by Application:
- Air Taxi
- Delivery Drones
- Cargo Transport
- Combat Mission
- Emergency Medical Service
- Air Ambulance
- Medical Cargo Transport
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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