Dublin, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The "eVTOL Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global electric vertical takeoff and landing (eVTOL) aircraft market achieved remarkable growth, reaching a market size of US$ 10.9 Billion in 2022. Analysts anticipate continued expansion, with a projected Compound Annual Growth Rate (CAGR) of 13.6% during 2023-2028, ultimately reaching an estimated US$ 24.1 Billion.
Revolutionizing Aviation with eVTOL Aircraft
Electric vertical takeoff and landing (eVTOL) aircraft leverage electric power to enable vertical hovering, takeoff, and landing. These aircraft encompass multi-rotor, fixed-wing, and tilt-wing configurations equipped with sensors, cameras, and radar technology. Distributed electric propulsion technology is utilized, distributing multiple motors across the wing to integrate the propulsion system with the airframe.
Advanced technologies, including lithium, diamond nuclear voltaic (DNV) technology, and hydrogen cell batteries, are employed to enhance efficiency, reduce operating costs, and improve safety. eVTOL aircraft find applications across various industries, including transportation, agriculture, healthcare, defense, and logistics.
Market Trends:
The utilization of eVTOL ambulances in the healthcare industry to provide rapid medical support and reduce emergency medical services response times is a key driver of market growth. Furthermore, eVTOL aircraft are increasingly being employed in search and rescue operations following natural disasters or accidents, such as landslides, fires, and earthquakes, presenting lucrative growth opportunities.
As traffic congestion continues to grow globally, the demand for eVTOL aircraft rises, especially with expanding transportation industries. Additionally, eVTOL aircraft are in demand in the construction sector for land surveys, real-time project updates, enhanced safety, and accident prevention on construction sites.
These aircraft offer numerous benefits, including reduced environmental impact, minimal noise generation, and lower altitude flight. Investment in research and development (R&D) activities by major market players to introduce advanced technologies for improved aircraft design, performance, and power output is further driving market growth.
Key Market Segmentation
The global eVTOL aircraft market report analyzes trends in each sub-segment and provides forecasts at the global, regional, and country levels from 2023 to 2028. The market is categorized based on lift technology, mode of operation, maximum take-off weight (MTOW), range, propulsion type, and application.
Lift Technology Insights:
- Vectored Thrust
- Multirotor
- Lift Plus Cruise
Mode of Operation Insights:
- Piloted
- Autonomous
- Semi-Autonomous
Maximum Take-off Weight (MTOW) Insights:
- < 250 Kg
- 250-500 Kg
- 500-1500 Kg
- >1500 Kg
Range Insights:
- 0-200 Km
- 200-500 Km
Propulsion Type Insights:
- Battery-Electric
- Hybrid-Electric
- Hydrogen-Electric
Application Insights:
- Commercial
- Air Taxi
- Delivery Drones
- Military
- Cargo Transport
- Combat Mission
- Emergency Medical Service
- Air Ambulance
- Medical Cargo Transport
Regional Insights:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape
The report offers a comprehensive analysis of the competitive landscape, featuring key players including 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 Ajdovscina, Vertical Aerospace Group Ltd., Volocopter GmbH, Wisk Aero LLC, and Xti Aircraft Company.
Key Questions Answered in This Report:
- How has the global eVTOL aircraft market performed and what are the growth projections for 2023-2028?
- What is the impact of COVID-19 on the eVTOL aircraft market?
- What are the key regional markets for eVTOL aircraft?
- How is the eVTOL aircraft market segmented by lift technology, mode of operation, MTOW, range, propulsion type, and application?
- Who are the key players in the global eVTOL aircraft market?
- What are the factors driving the growth of the eVTOL aircraft market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $10.9 Billion |
| Forecasted Market Value (USD) by 2028 | $24.1 Billion |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/bf01x2
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