eVTOL Aircraft Market Report 2022, Share, Size, Growth, Trends and Forecast to 2027 | IMARC Group

Published March 10, 2023

According to IMARC Group’s latest report, titled “eVTOL Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global eVTOL aircraft market size reached US$ 9.44 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.62 Billion by 2027, exhibiting a growth rate (CAGR) of 14.30% during 2022-2027.

Electric vertical takeoff and landing (eVTOL) aircraft depend on electric power to hover, take off, and land vertically. It consists of fixed-wing, multi-rotor, and tilt-wing airplanes having cameras, sensors, and radar. An eVTOL aircraft utilizes distributed electric propulsion technique to incorporate the system with the airframe and distribute various motors across the wing. In addition, it also uses diamond nuclear voltaic (DNV) technology, hydrogen cell batteries, and lithium to lower operating costs, increase efficiency, and enhance safety. An eVTOL aircraft is used by farmers for data gathering, crop dusting, yield management, and other farming operations. As a result, this airplane finds widespread applications across several sectors, such as transportation, agriculture, healthcare, defense, and logistics.

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eVTOL Aircraft Market Trends:

The extensive utilization of airplane ambulances in the healthcare industry to extend medical support and reduce emergency services response times is among the primary factors driving the eVTOL aircraft market. Besides this, the escalating demand for this airliner to improve search and rescue operations after natural calamities or accidents, such as landslides, fires, and earthquakes, is further augmenting the market growth.

eVTOL Aircraft Market Report

 Moreover, the elevating requirement for eVTOL aircraft in the construction sector to survey lands, provide continuous and precise project notifications, improve safety, and prevent dangerous incidents on building sites is also catalyzing the global market. Apart from this, the expanding transportation industry and the growing popularity of this airplane, owing to the increasing traffic congestion, are acting as significant growth-inducing factors. Additionally, the inflating investments by the leading players for the introduction of advanced technologies to improve airliner design, performance, and power output is also stimulating the market growth. Furthermore, this airplane offers various benefits, including lesser environmental impact, generating no noise, and flying at a lower altitude, which is anticipated to propel the eVTOL aircraft market over the forecasted period.

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eVTOL Aircraft Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the eVTOL aircraft market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

  • 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 Ajdovšcina
  • Vertical Aerospace Group Ltd.
  • Volocopter GmbH, Wisk Aero LLC
  • and Xti Aircraft Company.

Key Market Segmentation:

The report has segmented the eVTOL aircraft market on the basis of lift technology, mode of operation, maximum take-off weight (MTOW), range, propulsion type and application.

Breakup by Lift Technology:

  • Vectored Thrust
  • Multirotor
  • Lift Plus Cruise

Breakup by Mode of Operation:

  • Piloted
  • Autonomous
  • Semi-Autonomous

Breakup by Maximum Take-off Weight (MTOW):

  • <250 Kg
  • 250-500 Kg
  • 500-1500 Kg
  • >1500 Kg

Breakup by Range:

  • 0-200 Km
  • 200-500 Km

Breakup by Propulsion Type:

  • Battery-Electric
  • Hybrid-Electric
  • Hydrogen-Electric

Breakup by Application:

  • Commercial
    • Air Taxi
    • Delivery Drones
  • Military
    • Cargo Transport
    • Combat Mission
  • Emergency Medical Service
    • Air Ambulance
    • Medical Cargo Transport

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

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This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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