Dublin, Oct. 22, 2024 (GLOBE NEWSWIRE) -- The "eVTOL Aircrafts - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for eVTOL Aircrafts was estimated at US$1.2 Billion in 2023 and is projected to reach US$17.7 Billion by 2030, growing at a CAGR of 47.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the eVTOL aircraft market is driven by several factors. The increasing demand for innovative urban transportation solutions, driven by the challenges of traffic congestion and the need for efficient mobility in densely populated areas, is a major driver of market growth. Technological advancements in electric propulsion, battery technology, and autonomous flight systems are also contributing to market growth by making eVTOL aircraft more viable and practical for urban air mobility.
The growing emphasis on sustainable transportation, supported by government policies and consumer preferences, is further driving demand for eVTOL aircraft as a low-emission alternative to traditional vehicles. Additionally, the significant investment and interest from private companies, startups, and public authorities in developing urban air mobility infrastructure and services are supporting the expansion of the eVTOL aircraft market. These factors, combined with the ongoing development of regulatory frameworks for urban air mobility, are driving the growth of the eVTOL aircraft market.
Why Are eVTOL Aircrafts Seen as the Future of Urban Mobility?
eVTOL (electric Vertical Take-Off and Landing) aircraft are seen as the future of urban mobility due to their potential to revolutionize transportation by providing fast, efficient, and environmentally friendly solutions for short-distance travel within cities. These aircraft, powered by electric propulsion, are designed to take off and land vertically, making them ideal for navigating congested urban environments where space for traditional runways is limited.
eVTOL aircraft promise to reduce traffic congestion, lower carbon emissions, and offer new possibilities for transportation in densely populated areas. As urbanization continues to increase, the demand for innovative transportation solutions like eVTOL aircraft is expected to grow, driving the development of this emerging market.
How Are Technological Advancements Accelerating the Development of eVTOL Aircraft?
Technological advancements are accelerating the development of eVTOL aircraft by improving their performance, safety, and viability for urban air mobility. Innovations in battery technology, such as high-energy-density batteries, are enhancing the range and endurance of eVTOL aircraft, making them more practical for longer flights.
Advances in electric propulsion systems, including distributed electric propulsion (DEP), are improving the efficiency and safety of eVTOL aircraft by providing redundancy and enhancing control during flight. Additionally, the integration of advanced avionics, including autonomous flight systems and AI-driven navigation, is enabling eVTOL aircraft to operate with greater precision and safety, reducing the need for pilot intervention. These technological advancements are driving the development of eVTOL aircraft as a viable solution for urban mobility, supporting the growth of the market.
What Market Trends Are Driving the Demand for eVTOL Aircraft?
Several key market trends are driving the demand for eVTOL aircraft, including the rise of urban air mobility (UAM), the push for sustainable transportation, and the increasing interest from both private and public sectors. The rise of urban air mobility, driven by the need to alleviate traffic congestion and improve transportation efficiency in cities, is boosting demand for eVTOL aircraft that can provide fast and efficient short-distance travel.
The push for sustainable transportation, driven by environmental concerns and regulatory pressures, is also supporting the adoption of eVTOL aircraft, which offer a low-emission alternative to traditional modes of transportation. Additionally, the increasing interest from both private companies and public authorities in developing and deploying urban air mobility solutions is driving investment and innovation in the eVTOL aircraft market. These trends are shaping the future of urban transportation, driving the growth of the eVTOL aircraft market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Vectored Thrust Technology segment, which is expected to reach US$8.3 Billion by 2030 with a CAGR of a 47.8%. The Multirotor Technology segment is also set to grow at 44.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $317.2 Million in 2023, and China, forecasted to grow at an impressive 58.1% CAGR to reach $4.8 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Airbus Group SE, Archer Aviation, Inc., Beta Technologies, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Questions Answered:
- How is the Global eVTOL Aircrafts Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- eVTOL Aircrafts - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Urbanization and the Rising Demand for Urban Air Mobility (UAM)
- Regulatory Framework Development for eVTOL Operations
- Innovations in Battery Technology and Electric Propulsion Systems
- Partnership Between Aviation Companies and Technology Firms
- Consumer Acceptance and the Path to Commercialization
- Impact of eVTOLs on Reducing Urban Congestion
- Integration of eVTOLs with Existing Transportation Infrastructures
- Advances in Lightweight Materials for eVTOL Manufacturing
- Noise Reduction Technologies to Comply with Urban Standards
- Role of eVTOLs in Emergency Medical Services (EMS)
FOCUS ON SELECT PLAYERS (Total 52 Featured)
- Airbus Group SE
- Archer Aviation, Inc.
- Beta Technologies
- Ehang Holdings Ltd.
- Eve Air Mobility
- Joby Aviation
- Lilium GmbH
- Urban Aeronautics Ltd.
- Vertical Aerospace
- Volocopter GmbH
For more information about this report visit https://www.researchandmarkets.com/r/s6oddn
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