Pune, India, July 11, 2023 (GLOBE NEWSWIRE) -- The global eVTOL aircraft market size was estimated to be worth USD 1.11 billion in 2020 and is expected to increase from USD 5.41 billion in 2023 to USD 23.21 billion in 2028 at a CAGR of 23.13% during 2023-2028. Growing urbanization, increasing traffic congestion, and the need for smarter transportation solutions are some of the major factors propelling the market forward. Fortune Business Insights presents this information in its report titled “EVTOL Aircraft Market, 2023-2028."
The demand for eVTOL aircraft stems from the increasing urban congestion in major cities worldwide and the need for more efficient transportation solutions. eVTOL aircraft have the potential to alleviate traffic congestion by taking advantage of the vertical dimension, enabling point-to-point travel without the need for traditional runways or roads.
Get a Free Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/evtol-aircraft-market-106298
List of Key Players Profiled in the EVTOL Aircraft Market Report:
- Kitty Hawk (U.S.)
- Lilium (Germany)
- Ehang (China)
- Volocopter (Germany)
- Bell Textron Inc. (U.S.)
- Airbus S.A.S (Netherlands)
- Beta Technologies (U.S.)
- Joby Aviation (U.S.)
- Urban Aeronautics Ltd. (Israel)
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2028 |
| Forecast CAGR | 23.13% |
| 2028 Value Projection | USD 23.21 billion |
| Market Size in 2023 | USD 5.41 billion |
| Historical Data | 2017-2019 |
| No. of Pages | 200 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| EVTOL Aircraft Market Growth Drivers | Rising Traffic Congestion and Need for Smarter Transportation to Fuel Growth |
| Rising Investment from Different Sectors in eVTOL to Augment Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/evtol-aircraft-market-106298
Industry analysts project that the eVTOL aircraft market could experience substantial expansion over the next decade. The market is expected to be driven by increasing demand for urban air mobility solutions, advancements in electric propulsion and battery technologies, and supportive regulatory frameworks. Furthermore, the potential for autonomous flight and the integration of eVTOL aircraft into existing transportation networks could further fuel the market's growth.
Market Segments:
Based on lift technology, the market is divided into vectored thrust, lift plus cruise, and multirotor.
By mode of operation, the market is segmented into autonomous, semi-autonomous, and piloted.
In terms of range, the market is bifurcated into 0-200 km and 200-500 km.
On the basis of maximum take-off weight (MTOW), the market is classified into <250 kg, 250-500 kg, 500-1500 Kg, and >1500 kg.
By propulsion type, the market is split into battery-electric, hydrogen electric, and hybrid-electric.
In terms of application, the market is broken down into commercial, military, and emergency medical service.
Geographically, the market is segmented into North America, Asia Pacific, Europe, and the rest of the world.
Get a Quote Now:
https://www.fortunebusinessinsights.com/enquiry/get-a-quote/evtol-aircraft-market-106298
Drivers & Restraints:
Need for Smarter & More Sustainable Transportation to Augment the Product Adoption
With growing urbanization, traffic congestion is emerging as a major concern. In addition, the rising amount of air pollution is giving rise to the need for smarter and more sustainable transportation solutions. The growing concept of urban air mobility solutions, such as air taxis, is anticipated to create favorable opportunities for eVTOL aircraft companies.
Major aircraft makers, such as Airbus SE, Boeing Company, and Bell Helicopter, are accelerating ongoing eVTOL development programs. Automotive giants are also entering the space which will further heat up the market competition. In January 2020, Toyota invested USD 400 million in eVTOL startup Joby Automation.
Despite constant developments in the market, grow could be affected due to the lack of suitable infrastructure and strict regulations enforced by aviation agencies.
Regional Insights:
North America is expected to dominate the global eVTOL aircraft market share during 2021-2028. The regional trends will be influenced by the presence of major market players including Bell Textron Inc., Kitty Hawk, Joby Aviation, and others in the U.S.
The market in Asia Pacific will grow on account of growing investments by eVTOL companies, such as Ehang, in urban air mobility. Europe will record notable gains driven by government initiatives such as the Urban Air Mobility (UAM) Initiative.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/evtol-aircraft-market-106298
Detailed Table of Content:
- Introduction
-
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Key Contracts & Agreements, Mergers, Acquisitions and Partnerships
- Latest technological Advancements
- Porters Five Forces Analysis
- Supply Chain Analysis
- Quantitative Insights-Impact of COVID-19 Pandemic on Global eVTOL Aircraft Market
- Impact of COVID-19 Pandemic on Global eVTOL Aircraft Market
- Steps Taken by Industry/Companies/Government to Overcome the Impact
- Key Development in the industry in Response to COVID-19 Pandemic
- Potential opportunities due to COVID-19 Pandemic
- Global eVTOL Aircraft Market Analysis, Insights and Forecast, 2017-2028
- Segment Definitions
- Market Analysis, Insights and Forecast – By Lift Technology
- Vectored Thrust
- Multirotor
- Lift Plus Cruise
- Market Analysis, Insights and Forecast – By Mode of Operation
- Piloted
- Autonomous
- Semi-Autonomous
- Market Analysis, Insights and Forecast – By Range
- 0-200 Km
- 200-500 Km
- Market Analysis, Insights and Forecast – By Maximum Take-Off Weight (MTOW)
- <250 Kg
- 250-500 Kg
- 500-1500 Kg
- >1500 Kg
- Market Analysis, Insights and Forecast – By Propulsion Type
- Battery-Electric
- Hybrid-Electric
- Hydrogen-Electric
- Market Analysis, Insights and Forecast – By Application
- Commercial
- Air Taxi
- Delivery Drones
- Military
- Cargo Transport
- Combat Mission
- Emergency Medical Service
- Air Ambulance
- Medical Cargo Transport
- Commercial
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia-pacific
- Rest of the world
TOC Continued…!
Speak to Analyst:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/evtol-aircraft-market-106298
Read Related Insights:
Reusable Launch Vehicle Market to Be Worth USD 5.41 Billion By 2030; Increased Usage of High Payload Rockets to Drive Market Forward
LiDAR Drone Market is projected to grow USD 455.0 million by 2028, at a CAGR of 17.98%
Aero Wing Market Size to grow USD 20.35 billion in 2028 with exhibiting a CAGR of 8.98%
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Address:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner,
Mahalunge Road, Baner, Pune - 411045,
Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Follow Us: LinkedIn | Facebook | Twitter
