EVTOL Aircraft Market Worldwide Share, Growth and Forecast to 2030
Research Reports
Jan 20, 2021
Market Overview
Global eVTOL Aircraft Market is expected to reach USD 4,063.3 Million by 2030 at a CAGR of 30.30% during the forecast period.
The growth of the global eVTOL aircraft market can be attributed to rising traffic congestion and rapid technological advancements. However, safety concerns and limited endurance are expected to restrain the et growth during the forecast period.
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Competitive Analysis
Prominent Players in the Global eVTOL Aircraft Market include EHANG (China), A³ by Airbus (US), Volocopter GmbH (Germany), Uber Technologies Inc. (US), Lilium GmbH (Germany), Aurora Flight Sciences (US), Bell Textron Inc. (US), TERRAFUGIA (US), Kitty Hawk (US), and Workhorse (US).
Key Developments
In October 2019, Volocopter GmbH completed the first test flight of its eVTOL aircraft in Singapore. The development enabled the company to strengthen its presence in the eVTOL aircraft market.
Regional Analysis
The geographic analysis of the global eVTOL Aircraft Market includes North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin Africa.
The market in North America was valued at USD 78.0 Million in 2018. The US and Canada are the country-level markets in North America. The market in the region is expected to reach USD 1,508.3 Million by 2030 at a 29.54% CAGR during the forecast period. This growth can be attributed to the presence of prominent companies such as Aurora Flight Sciences and Workhorse. Furthermore, technological advancements and rising investment by the US Army in the L aircraft market are expected to drive the growth of the market in the region.
Segmental Analysis
Global eVTOL Aircraft Market has also been segmented by type, battery type, lift technology, type of propulsion, type of MTOW, range, mode of operation, and application.
Based on type, the global eVTOL aircraft market has been divided into air taxis, delivery drones, and others. The air taxis segment dominates the global market. It was valued at USD 140.4 million in 2018 and is anticipated to expand at a CAGR of 29.98% during the forecast period. In terms of battery type, the market has been classified as lithium-ion batteries, solid-state batteries, and hydrogen fuel cells. The lithium-ion batteries segment was the largest, valued at USD 172.1 million, in 2018 and is projected to exhibit a CAGR of 29.46% during the forecast period.
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