Overview
Global eVTOL Aircraft Market is expected to reach USD 4,063.3 Million by 2030 at a CAGR of 30.30% during the forecast period.
The growth of the global eVTOL aircraft market can be attributed to rising traffic congestion and rapid technological advancements. However, safety concerns and limited endurance are expected to restrain the et growth during the forecast period.
Segmental Analysis
The Global eVTOL Aircraft Market has also been segmented by type, battery type, lift technology, type of propulsion, type of MTOW, range, mode of operation, and application.
Based on type, the global eVTOL aircraft market has been divided into air taxis, delivery drones, and others. The air taxis segment dominates the global market. It was valued at USD 140.4 million in 2018 and is anticipated to expand at a CAGR of 29.98% during the forecast period.
In terms of battery type, the market has been classified as lithium-ion batteries, solid-state batteries, and hydrogen fuel cells. The lithium-ion batteries segment was the largest, valued at USD 172.1 million, in 2018 and is projected to exhibit a CAGR of 29.46% during the forecast period.
On the basis of lift technology, the global eVTOL aircraft market has been categorized as multirotor, vectored thrust, lift plus cruise, and others. The multirotor segment is anticipated to exhibit the highest CAGR during the forecast period.
By type of propulsion, the market has been segmented into fully electric, hybrid, and electric hydrogen. The fully electric segment dominates the market. The segment was valued at USD 138.0 million in 2018.
On the basis of the of MTOW, the global eVTOL aircraft market has been categorized as 1,500 kg. The 500–1,500 kg segment is anticipated to register the highest CAGR during the forecast period.
By range, the market has been segmented into 0–200 km and 200–500 km. The 0–200 km segment dominated the market. The segment was valued at USD 175.1 million in 2018.
Based on the operation, the global eVTOL aircraft market has been divided into piloted and optionally piloted. The piloted segment dominates the global market. It was valued at USD 134.0 million in 2018 and is anticipated to exhibit a CAGR of 28.94% during the forecast period.
In terms of application, the global eVTOL aircraft market has been bifurcated into commercial, cargo, and military. The cargo segment is projected to register the highest CAGR during the forecast period.
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Competitive Analysis
Prominent Players in the Global eVTOL Aircraft Market include EHANG (China), A³ by Airbus (US), Volocopter GmbH (Germany), Uber Technologies Inc. (US), Lilium GmbH (Germany), Aurora Flight Sciences (US), Bell Textron Inc. (US), TERRAFUGIA (US), Kitty Hawk (US), and Workhorse (US).
The other companies profiled in the report are EmbraerX (Brazil), Karem Aircraft, Inc. (US), Neva Aerospace (UK), LIFT Aircraft Inc. (US), Opener (Canada), Pipistrel Group (Slovenia), Vertical Aerospace Ltd (UK), HOVERSURF (US), Cartivator (Japan), Joby Aviation (US), Amprius Technologies (US), Sion Power Corporation (US), MOLICEL (Taiwan), EaglePicher Technologies (US), OXIS Energy Ltd (UK), and MGM COMPRO (Czech Republic). Mergers, acquisitions, and collaborations are some of the key strategies adopted by these companies to gain an edge over their competitors.
Key Developments
• In October 2019, Volocopter GmbH completed the first test flight of its eVTOL aircraft in Singapore. The development enabled the company to strengthen its presence in the eVTOL aircraft market.
• In May 2019, EHANG entered into a partnership with DHL-Sinotrans to launch a fully automated smart drone delivery solution.