DELRAY BEACH, Fla., Feb. 6, 2025 /PRNewswire/ -- The eVTOL Aircraft market is valued at USD 0.76 billion in 2024 and is projected to reach USD 4.67 billion by 2030, at a CAGR of 35.3 % from 2024 to 2030 and is projected to grow from USD 6.53 billion in 2031 to USD 17.34 billion by 2035 at a CAGR of 27.6 % from 2031 to 2035 according to a new report by MarketsandMarkets. The eVTOL market in electric Vertical Take-Off and Landing aircraft represents a paradigm shift in aviation: cutting-edge technology, environmental sustainability, and innovation in mobility. It is expected to transform how people and goods move, particularly in urban and regional environments, with zero-emission, efficient, and flexible transport solutions.
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Browse in-depth TOC on "eVTOL Aircraft Market"
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eVTOL Aircraft Market Report Scope:
Report Coverage | Details |
Market Revenue in 2024 | $ 0.76 billion |
Estimated Value by 2035 | $ 17.34 billion |
Growth Rate | Poised to grow at a CAGR of 27.6% |
Market Size Available for | 2020-2035 |
Forecast Period | 2024-2035 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Lift technology, Application, Propulsion type, Range, Mode of Operation, MTOW, System and region |
Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
Key Market Challenge | Lack of regulatory standards |
Key Market Opportunities | Regional air mobility expansion |
Key Market Drivers | Growing need for green energy and noise free aircraft |
Driving demand for eVTOL Aircrafts is the urgency to reduce the congestion of the city, and increase demand in sustainable transportation solutions, improve systems of electric propulsion, battery technologies, and the autonomous flight. Among the key applications are urban air mobility (UAM) or passenger air taxi, intercity transportation, cargo, and emergency such as air ambulance and disaster rescue.
Advancements in vertiport infrastructure, urban air traffic management systems, and regulatory frameworks by authorities such as the FAA and EASA all support global adoption. Companies leading the charge in commercializing eVTOLs for real-world operations include Joby Aviation, Archer Aviation, Lilium, and Volocopter.
Based on System, the aerostructure segment is estimated to account for the largest share in the eVTOL Aircraft market from 2024 to 2035.
The aerostructure segment will dominate the eVTOL aircraft market due to its major role in determining the structural integrity, performance efficiency, and overall structure of the eVTOLs. Aerostructures are simply the aircraft fuselage, wings, rotor mounts, and landing gear, which are an essential feature of any eVTOL design. These parts are considered essential in providing the structural framework needed to support propulsion systems, batteries, and payloads while also enhancing aerodynamic efficiency and safety.
The demand for carbon composites and advanced alloys in eVTOL's lightweight, high-strength materials market is driving aerostructure design innovations. Lightweight aerostructures represent the key in reducing overall aircraft weight, which maximizes the efficiency of its battery and gives it an extended range-a critical feature for the success of eVTOLs. Aerostructures become even more precise in their designs as eVTOL designs adopt features such as vectored thrust, lift-plus-cruise, and hybrid propulsion systems and are required to manage complex flight dynamics and meet safety requirements.
Based on Application, the Air Taxi segment is estimated to account for the largest share of the eVTOL Aircraft market from 2024 to 2035.
The eVTOL aircraft market is expected to be headed by the air taxi segment because it has the disruptive potential to serve as a revolutionary solution that can address urban congestion and reduce travel times while offering a sustainable alternative to traditional transportation. Air taxis are for short to medium-range commutes in urban and regional areas, connecting points between city centers, airports, and suburban areas and hence the best way to handle the ever-rising traffic challenges witnessed in populous cities such as Los Angeles, Paris, and Singapore.
Advances in electric propulsion systems are currently driving the market for air taxi, which promise quiet, zero-emission flight-a key requirement for urban air mobility (UAM). With their focus on safety, efficiency, and convenience, air taxis can revolutionize how people commute into cities, fly for business, and travel as tourists.
Based on Range, <=200 Km segment is estimated to account for the largest share of the eVTOL Aircraft market from 2024 to 2035.
The <=200 km range segment should dominate the market for eVTOL aircraft due to its match with the very core applications for UAM and short regional connectivity. This segment is ideal in addressing urban congestion through fast point-to-point travel within cities or connecting city centers with nearby airports or suburbs. The <=200 km range is very suitable for the main use cases of eVTOLs, such as air taxis, air shuttles, and last-mile cargo delivery, where the distances are much shorter.
This range of eVTOLs is optimized for operation with currently available battery technologies, achieving an appropriate balance between payload capacity and flight time. Additionally, the operational cycles of such aircraft are shorter, which means fewer charging stations and smaller vertiports will be needed for their integration into urban infrastructure.
This range category enjoys a friendly regulatory environment, so the first to gain certification and commercialization is <=200 km. The segment of this range category offers low noise emissions, is cost-efficient, and can easily undertake frequent, short-haul flights. As such, it is the most practical and scalable range category for urban and suburban mobility solutions, making it a market leader.
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Latin America is projected to grow at the highest rate from 2024 to 2035 in the eVTOL Aircraft market.
Latin America is expected to grow at the highest rate in the eVTOL aircraft industry due to its unique geography, increasing urbanization, and demand for efficient regional and urban transport solutions. The region's challenging infrastructure in both urban and rural areas make eVTOLs an attractive alternative for addressing transportation inefficiencies. Many large cities in Latin America, such as São Paulo, Mexico City, and Bogotá, face severe traffic congestion, creating a strong demand for urban air mobility (UAM) to reduce travel times and enhance connectivity.
Additionally, Latin America's large rural and remote regions often have limited ground infrastructure, making regional air mobility (RAM) applications particularly valuable. eVTOLs can connect rural areas with cities, facilitating economic activity, medical services, and logistics in hard-to-reach locations. This is especially relevant in countries like Brazil and Colombia, which have vast territories with difficult terrain.
The eVTOL Aircraft companies is dominated by a few globally established players such Archer Aviation (US), Eve Holdings (Brazil), ehang (China), Joby Aviation (US), Textron Inc (US), Airbus (Netherlands), Vertical Aerospace (UK), Wisk Aero LLC (US), Beta Technologies(US), Volocopter Gmbh (Germany), XTI Aerospace ( US), Lilium Gmbh (Germany), Lift Aircraft Inc.(US), Autoflight (China), Volant Aerotech (China), among others, are the key manufacturers that secured eVTOL Aircraft contracts in the last few years.
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