Chicago, March 14, 2023 (GLOBE NEWSWIRE) -- The eVTOL Aircraft Market by Lift Technology (Vectored Thrust, Multirotor, Lift plus Cruise), Propulsion Type (Fully Electric, Hybrid Electric, Hydrogen Electric), System, Range, MTOW, Mode of Operation, Application, and Region 2030", 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 increasing demand for an alternative mode of transport.
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Electric Vertical Take-Off and Landing (eVTOL) Aircraft have been gaining significant attention in recent years, as they hold the potential to revolutionize the way we commute in urban areas. In the past, the aviation industry has focused primarily on traditional airplanes and helicopters. However, eVTOL aircraft represent a new category of aircraft that are electrically powered and can take off and land vertically, making them ideal for use in urban environments. In this blog, we will take a closer look at the top companies leading the eVTOL aircraft market share.
eVTOL Aircraft Market Report Scope:
| Report Metric | Details |
| Estimated Market Size | USD 8.5 Billion |
| Projected Market Size | USD 30.8 Billion |
| Growth Rate | 15.3% |
| Market size available for years | 2017–2030 |
| Base year considered | 2020 |
| Forecast period | 2021-2030 |
| Forecast units | Value (USD Million) |
| Segments covered | By Lift Technology, By Propulsion Type, By System, By Mode of Operation, By Application, By MTOW, By Range |
| Geographies covered |
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| Companies covered | Airbus SE (Netherlands), Bell Textron Inc. (US), Embraer SA (Brazil), EHang Holdings Ltd (China), and Elbit Systems Ltd. (Israel) |
What are the growth drivers for eVTOL Aircraft industry?
The Electric Vertical Take-Off and Landing (eVTOL) aircraft industry is gaining momentum and attracting significant attention due to its potential to revolutionize urban air transportation. The eVTOL aircraft market is expected to experience exponential growth in the coming years, with an increasing number of companies developing and testing their eVTOL prototypes. In this context, let's take a closer look at the growth drivers for the eVTOL aircraft industry.
Urban Air Mobility (UAM): The eVTOL aircraft market is driven by the concept of Urban Air Mobility, which refers to the use of small, electric aircraft for urban transportation. With rapid urbanization and increasing traffic congestion, eVTOL aircraft provide a more efficient and time-saving mode of transportation.
Environmental Benefits: The eVTOL aircraft industry is also driven by the growing demand for sustainable and eco-friendly transportation. eVTOL aircraft are electrically powered, emitting no greenhouse gases and significantly reducing noise pollution.
Technological Advancements: The eVTOL aircraft market is driven by rapid advancements in technology. Companies are using cutting-edge technologies to develop aircraft with better performance, longer ranges, and higher safety standards. Improvements in battery technology, advanced materials, and autonomous systems are all contributing to the growth of the eVTOL aircraft industry, making it more feasible and practical to develop and operate these aircraft.
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Government Support: Governments around the world are recognizing the potential of eVTOL aircraft and are investing heavily in their development. Several countries, including the US, Germany, China, and Japan, are actively supporting the growth of the eVTOL aircraft industry through funding and regulatory support. This government support is expected to accelerate the growth of the eVTOL aircraft market in the coming years.
What is the future eVTOL aircraft Market Trends?
The future of the eVTOL aircraft industry looks bright, with numerous trends expected to shape its growth in the coming years. These trends include increasing investment and innovation in the sector, the emergence of new players, regulatory advancements, and a focus on customer experience. As eVTOL aircraft become more accessible and advanced, they have the potential to revolutionize the way we travel, with faster, more sustainable, and efficient air transportation becoming a reality. Keeping a close eye on these trends will be critical for stakeholders in the eVTOL aircraft market, from manufacturers to investors, as they seek to capitalize on this burgeoning industry.
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