eVTOL aircraft refer to electric vertical takeoff and landing aircraft that use electric power to hover, take off, and land vertically. The focus of eVTOL is to offer a new class of aircraft that revolutionizes inter- and intra-city movement, providing quick, direct, and clean mobility. It uses motors, batteries, fuel cells, and electronic controllers to generate electric power for hovering, taking off, and landing vertically.
Sizing and Forecast
The evtol aircraft market size is expected to see exponential growth in the next few years. It will grow to $28.84 billion in 2028 at a compound annual growth rate (CAGR) of 26.2%. The growth in the forecast period can be attributed to the growing need for green energy and noise-free aircraft, increasing demand for evtol aircraft in cargo applications and the growing urbanization. Major trends in the forecast period include electric propulsion and hydrogen fuel cell technology, use of artificial intelligence, evtol aircraft shuttle, autonomous evtol aircraft, strategic partnership and research and development.
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Segmentation & Regional Insights
The evtol aircraft market covered in this report is segmented –
1) By Lift Technology: Vectored Thrust, Multirotor, Lift Plus Cruise
2) By Propulsion Type: Fully Electric, Hybrid Electric, Hydrogen Electric
3) By Mode of Operation: Autonomous, Piloted
4) By Application: Air Taxis, Air Shuttles And Air Metro, Private Transport, Cargo Transport, Air Ambulance And Medical Emergency, Last Mile Delivery, Inspection and Monitoring, Surveying and Mapping, Surveillance, Special Mission, Others
North America was the largest region in the eVTOL aircraft market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the evtol aircraft market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The eVTOL aircraft market is expected to be driven by the increasing demand for eVTOL aircraft in cargo applications in the forecast period. eVTOL aircraft are increasingly being tested to be used for large cargo deliveries to parcel deliveries as they are highly fuel-efficient and faster than ground vehicles. In addition, they cut down logistics costs while reducing delivery lead times, all resulting in a better customer experience. The eVTOL aircraft can also be used to transport essentials such as vaccines, masks and other medical equipment during emergencies. All these factors are expected to drive demand for eVTOL aircraft in the future. For instance, according to an article published in May 2021 by KDC Resource, a UK-based recruiter, companies such as the global logistics and shipping firm, UPS, a UK-based postal service firm of the Royal Mail, and the global e-commerce platform, Amazon, are testing eVTOL technology for logistics applications. The use of eVTOL technology is expected to help deliver to remote locations in much less time than ground transport in the future. Thus, the increasing demand for eVTOL aircraft in cargo applications will drive the market in the forecast period.
Key Industry Players
Major companies operating in the evtol aircraft market report are Airbus SE, Textron Inc, Embraer SA, Wisk Aero, Volocopter GmbH, Volkswagen Group China, Zerog, Aerofugia, AutoFlight, TCab, Volant Aerotech, MuYu Aero, Pantuo, Plana, MintAir, Tetra Aviation, SkyDrive, XPeng HT Aero, Vertical Aerospace, Zuri, United Aircraft Corporation, Urban Aeronautics Ltd, Moog Inc, Boeing, Bombardier, McDonnell Douglas, Cessna, Joby Aviation, Lift Aircraft, Neva Aerospace, Uber Technologies Inc, Archer Aviation Inc, Jaunt Air Mobility LLC, Overair Inc.
The evtol aircraft global market report 2025 market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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