London, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Poised for significant growth, the global eVTOL taxi market space surges ahead on the back of environmental concerns, and the critically growing need for efficient urban transportation solutions.
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REPORT SCOPE
| Report Attributes | Details | |
| Base Year | 2022 | |
| Forecast Year | 2023 – 2030 | |
| Estimated Market Size in 2030 | US$6.2 Bn | |
| CAGR | 16.8% | |
| Growth Drivers |
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| Segmentation |
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| Regional Coverage |
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| Key Players | Lilium, Ehang, Volocopter GmbH, Airbus S.A.S, Boeing Inc., Urban Aeronautics Ltd. | |
The electric vertical take-off and landing (eVTOL) air taxi market is set to witness remarkable growth in the years to come. At a projected value CAGR of 16.8% between 2023 and 2030, the market value will reach approximately US$6.22 Bn by the end of 2030, forecasts a new report of Fairfield Market Research.
The inflation in market size is clearly attributed to several factors, including advancements in battery, motor, and power electronics technologies, coupled with the growing demand for environmentally friendly and efficient urban air transportation solutions.
Key Research Insights
- Vectored thrust lift technology remains the most preferred technology segment.
- The battery-electric propulsion type represents the largest revenue share of the market.
- North America continues to spearhead, whereas Asia Pacific’s eVTOL air taxi market will experience the strongest growth till 2030-end.
Insights into Segmentation Analysis
Vectored Thrust Technology Leads
Within the eVTOL market, vectored thrust lift technology emerges as the dominant force. These aircraft utilize vectored thrust to achieve vertical take-offs and landings, allowing them to operate from smaller vertiports within urban areas.
The maneuverability offered by vectored thrust is a key advantage, enabling eVTOL air taxis to navigate congested urban environments and evade obstacles while flying at low speeds.
Sophisticated flight control systems and vector thrust technologies are integral components that enhance the safety and efficiency of eVTOL operations.
The significance of vectored thrust lies in its ability to revolutionize urban transportation by providing a point-to-point mobility solution without the need for extensive ground infrastructure, such as traditional runways or helipads.
The vectored thrust technology holds the potential to transform the way people commute within cities and metropolitan areas.
Battery-Electric Propulsion Takes Flight
The battery-electric propulsion segment is poised for rapid growth within the eVTOL air taxi market. These propulsion systems significantly reduce greenhouse gas emissions and air pollutants, making eVTOLs a cleaner and more environmentally friendly mode of urban air transportation.
Electric motors, the primary energy source for eVTOLs, produce minimal noise pollution during operation, contributing to their social acceptability in noise-sensitive urban environments.
Ongoing advancements in battery technology, including increased energy density and faster charging capabilities, continue to improve the performance and range of eVTOL air taxis.
This progress is expected to drive further adoption and integration of eVTOLs into urban transportation systems, particularly as the technology becomes more efficient and accessible.
For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/evtol-air-taxi-market
Key Report Highlights
There are two major trends that are shaping the eVTOL air taxi market, including environmental sustainability, and urban air mobility ecosystem development. These trends collectively reflect the industry's commitment to innovation, infrastructural development, and environmental responsibility, paving the way for the wider adoption of eVTOL air taxis in the coming years.
Insights into Regional Analysis
North America Leads its Way
North America is positioned as the frontrunner in the worldwide eVTOL air taxi market. The region has witnessed active involvement from major eVTOL manufacturers and stakeholders in shaping regulations and certification standards for eVTOL operations.
Regulatory agencies like the Federal Aviation Administration (FAA) in the United States and Transport Canada have worked diligently to establish a framework for the safe and responsible deployment of eVTOL aircraft.
In North America, eVTOL air taxis have already begun commercial operations in select locations, addressing last-mile connectivity challenges and potentially revolutionizing passenger travel.
Additionally, these aircraft have the potential to enhance emergency medical services by providing rapid transportation for medical personnel and supplies during emergencies or natural disasters.
Asia Pacific Gears up
The Asia Pacific region is set to experience the fastest growth in the eVTOL air taxi market.
Collaborations and strategic agreements among leading aerospace manufacturers, IT companies, and startups are driving innovation and accelerating the development and deployment of eVTOLs.
South Korea, in particular, is emphasizing sustainability and carbon emissions reduction, making electric aircraft a strategic choice for achieving sustainability goals.
Global eVTOL Taxi Industry: Competitive Landscape
Prominent players in the eVTOL air taxi market include Lilium, Ehang, Volocopter GmbH, Airbus S.A.S, Boeing Inc., and Urban Aeronautics Ltd.
These companies are at the forefront of eVTOL technology development, with a focus on creating comprehensive ecosystems for eVTOL operations and addressing the growing demand for cleaner, more efficient urban air transportation.
As the eVTOL air taxi market continues to expand, competition among these key players and emerging startups is expected to intensify, driving further innovation and advancements in this transformative industry.
Global eVTOL Air Taxi Market is Segmented as Below:
By Lift Technology
- Vectored Thrust
- Multirotor & Rotorcraft
- Lift Plus Cruise
By Mode of Operation
- Piloted
- Autonomous
- Semi-autonomous
By Maximum Take-off Weight (MTOW)
- Upto 500 Kg
- 500 Kg to 1000 Kg
- Above 1000 Kg
By Propulsion Type
- Battery
- Hybrid
- Fuel cell
By End User
- Military & Defence
- Civil & Commercial
By Geographic Coverage
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Leading Companies
- Lilium GmbH
- Ehang
- Volocopter GmbH
- Bell Textron Inc.
- Airbus S.A.S
- Boeing Inc.
- Beta Technologies
- Joby Aviation
- Urban Aeronautics Ltd.
Browse Global eVTOL Air Taxi Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Lift Technology Coverage, By Mode of Operation Coverage, By Maximum Take-off Weight (MTOW) Coverage, By Propulsion Type Coverage, By End User, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/evtol-air-taxi-market
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