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eVTOL Aircraft Market By Lift Technology (Vectored Thrust, Multirotor, Lift Plus Cruise, Others), By Application (Commercial, Military, Cargo), By Propulsion Type (Fully Electric, Hybrid, Electric Hydrogen), By Maximum Takeoff Weight (Less Than 250 KGs, 250KGs to 500KGs, 500KGs to 1500KGs, More Than 1500 KGs), By Mode Of Operation (Optionally Piloted, Piloted), By Range (Upto 200 KMs, From 200 KMs To 500 KMs) - Growth, Future Prospects & Competitive Analysis, 2019 – 2027

Continued Emphasis on Urban Air Mobility (UAM) to Stimulate Demand for VTOL Aircraft

The market for electric vertical takeoff and landing (eVTOL) aircraft is expected to reach US$ 315.2 million in 2027. Electronic aircraft applications are expected to grow rapidly as autonomous aircraft technology advances. Several market players have recognized an opportunity for passenger-carrying applications with small, self-piloted aircraft. Such advancements have altered and continue to change the low-altitude urban air mobility (UAM) environment.

UAM presents an opportunity to provide seamless, safe, and rapid transportation to mitigate existing and future challenges faced by urban areas. Almost 100,000 passenger electronic aircraft are expected to be in service worldwide by 2050. Autonomous flight technology advancements, electric propulsion, and 5G communication networks are expected to spawn on-demand air travel services, intercity flights, and scheduled airport shuttles, among others.

Vertical takeoff and landing (VTOL) capability is critical for urban air mobility operations. Vertical mobility is expected to become an inevitable part of overall urban mobility. Passenger eVTOLs play a vital role here as they operate faster than their counterparts and are available on demand.

Because they require relatively few infrastructure investments and can service secondary and tertiary routes, such technology is expected to be an appealing and competitive way to cover longer distances.

Market Synopsis

The Fully Electric Propulsion Segment is the Largest Contributor to the eVTOL Aircraft Market.

Utilization of Distributed Electric Propulsion (DEP) technology enables considerable efficiency improvements as it provides lift with higher efficiency, especially in the cruise phase. Engine failure accounted for over 18% of overall air travel accidents when combined with fuel management blunders. Electric propulsion is the preferred propulsion choice for urban VTOL aircraft due to zero operational emissions.

Over the years, a significant amount of research has been directed toward lowering the upfront cost of electric transportation. There has been a significant amount of technology development across the globe, focusing majorly on batteries and charging infrastructure.

Advancements in technology have resulted in battery technology evolving to the point where eVTOL aircraft are on the verge of becoming viable in select mass-market applications. With a constant emphasis on the electrification of transportation facilities, the fully electric propulsion segment is expected to be the largest segment across the forecast period.

North America to Garner the Largest Market Share

North America is expected to be the leading region in the overall VTOL aircraft market by 2027. With the high adoption of advanced technology in North America, the eVTOL aircraft market is expected to grow at a rapid pace over the forecast period. In 2015, road-traffic congestion resulted in the consumption of 7.2 billion person-hours as well as 3.5 billion gallons of excess fuel consumed in the US.

Transportation as a whole accounted for almost 33% of CO2 emissions in the US, of which 80% are from trucks and cars traveling on the roadway system. Moreover, the Asia Pacific market was the fastest-growing regional market during the forecast period. Asia Pacific's growing population and rapid urbanization are expected to drive market growth here.

A3 by Airbus, Embraer S.A., Workhorse Group, Lilium, Lift Aircraft Inc., Kitty Hawk, Aurora Flight Sciences, Neva Aerospace, Volocopter GmbH, Karem Aircraft, Inc., Ehang, Bell Helicopter Textron Inc., Opener, Pipistrel, Joby Aviation, and others are key players in the global VTOL aircraft market.

Periods of History and Forecast

This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The eVTOL aircraft report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global eVTOL aircraft market based on lift technology, application, propulsion type, MTOW, mode of operation, range, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

  • What was the market size of eVTOL aircraft in 2018 and the forecast up to 2027?
  • Which is the largest regional market for eVTOL aircraft?
  • What are the key market trends observed in the eVTOL aircraft market?
  • Which are the most promising lift technology type, application types, types of propulsion, MTOW, modes of operation, and ranges in the eVTOL aircraft market?
  • Who are the key players leading the market?
  • What are the key strategies adopted by the leading players in the market?
  • What are the key technological development trends across different geographies and sub-geographies?

Frequently Asked Question:

The market for eVTOL Aircraft Market is expected to reach USD$ 315.2 Mn in 2027.

The eVTOL Aircraft Market is expected to see significant CAGR growth over the coming years, at XX%.

The report is forecasted from 2019 -2027.

The base year of this report is 2018.

Workhorse Group, Lilium, Lift Aircraft Inc., Kitty Hawk, Aurora Flight Sciences, Neva Aerospace, Volocopter GmbH. are some of the major players in the global market.

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Published Date:  Jun 2019
Category:  Technology & Media
Report ID:   59714
Report Format:   PDF
Pages:   120
Rating:    4.5 (70)
Delivery Time: 24 Hours to 48 Hours   
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