Increasing demand of Urban Air Mobility and Rising focus on environment sustainability are the driving force for Europe eVTOL Aircraft market.
According to the TechSci Research report, “Europe eVTOL Aircraft Market– By Country, Competition Forecast and Opportunities, 2018-2030F”, The eVTOL aircraft industry is still in development and has not yet been commercialised. However, market advancements are rapidly expanding as most businesses involved in the manufacturing and production of eVTOL aircraft are concentrating their efforts on testing and certification of their eVTOL products to meet the growing market demand. Furthermore, several suppliers have already secured significant contracts from various consumers to gain an early mover edge in the brisk industry. Archer said, in 2021, that it has received a contract to sell 200 eVTOL aircraft typeswith United Airlines. In December 2022, Brazilian air taxi company FlyBIS confirmed this week plans to establish a fleet of four-passenger eVTOL aircraft from Eve Air Mobility. Eve now has a backlog of up to 2,770 eVTOL aircraft with an estimated value of $8 billion from about a dozen prospective customers. United Airlines and the Brazilian private aviation charter operator and fractional ownership group Avantto are among the companies on Eve’s order book. Eve’s eVTOL is a fully electric, piloted aircraft designed to transport four passengers on short trips of up to 100 kilometres (62 miles).
Furthermore, the demand for urban air mobility is increasing in certain major nations, which is contributing to the development of new markets for eVTOL aircrafts. Furthermore, increasing investments in the development of eVTOL platforms for various applications such as air taxis, cargo transport, tourism, medical logistics, and so on are some of the major factors expected to aid the growth of the eVTOL aircraft market soon, which will also bring about a drastic change in the preference of transportation mode in Europe. The eVTOL aircrafts are simple to operate, fly like an aeroplane, and emit little to no noise. As a result, the planes are gaining popularity in e-commerce platforms for package delivery. The battery-powered eVTOL aircraft contributes to lower carbon footprint and costs. As e-commerce has grown, consumer preferences have become increasingly important in the previously business-oriented parcel-delivery market.
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The Europe eVTOL Aircraft Market can be segmented based on application, propulsion, lift technology, operation mode, range and region. The market is segmented into three applications: commercial, military, and cargo. The commercial sector is expected to dominate the market. The growing development of delivery drones and air taxis is likely to stimulate industry expansion. The market is divided into three segments based on propulsion type: hybrid-electric, fully electric, and hydrogen-electric. Due to the numerous advantages of hydrogen, the hydrogen electric category is predicted to have the highest CAGR rate for the eVTOL aircraft market. Based on lift technology, the market is divided into vectored thrust, lift plus cruise, multicopter, and others where vectored thrust is expected to grow the fastest. The qualities of this technology, such as high endurance and increased efficiency, are related to the segment’s rise. The market is based on three categories: autonomous, semi-autonomous, and piloted. The semi-autonomous sector is predicted to have the largest market share due to increased spending by government agencies and manufacturers, in the research and development of semi-autonomous electric vertical take-off and landing aircrafts. The market is divided into two segments based on range: 0-200 km and 200-500 km. The segment of 200-500 km is likely to dominate the market because of the increased demand for long-range vertical take-off and landing aircraft for intercity travel.
Some of the major players operating in the Europe eVTOL Aircraft market include:
- Airbus Group, Inc.
- Bell Textron Inc.
- Boeing Co
- Eve Air Mobility
- Lilium GmBH
- EHang Intelligent Technology Co. Ltd
- BETA Technologies Inc.
- Volocopter GmbH
- Archer Avaition Inc.
- Heart Aerospace AB
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“Multiple competitors in the manufacturing segment are developing and serially producing a wide range of eVTOL platforms for various applications and use cases. Furthermore, due to environmental concerns, many companies are shifting toward green energy to reduce carbon emissions, and with increasing demand for urban air mobility due to its versatile operation, Europe’s eVTOL aircraft market will propel in the coming years. “, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Europe eVTOL Aircraft Market By Application (Commercial, Military and Cargo), By Propulsion Type (Hybrid Electric, Fully Electric, Electric Hydrogen), By Lift Technology (vectored Thrust, Lift Plus Cruise, Multicopter and others), By Operation Mode (Autonomous, Semi-Autonomous and Piloted), By Range (upto 200km, 201-500Km), By Region Competition, Forecast and Opportunities, 2018-2030F”, has evaluated the future growth potential of Europe eVTOL Aircraft Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Europe eVTOL Aircraft Market.
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