Industry Background:
An electric vertical take-off and landing (VTOL) aircraft is one that can hover, take off, and land vertically and it includes eight lift rotors for vertical takeoff and cruise propeller and wing to transition to high-speed forward cruise. The eVTOL is basically used for short-haul transport of passengers or cargo and current formation of eVTOL allows two passengers including the pilot plus luggage. These aircraft provides on-demand transportation to minimize long commutes due to heavy traffic and urbanization in populated areas. It consist of electric operation which decreases or eliminates emissions and noise pollution for a quieter flight.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Kitty Hawk (United States), Lilium (Germany), EHang (China), Volocopter (Germany), Bell Helicopter (United States), A3 by Airbus (United States), Aurora Flight Sciences (United States), Embraer (Brazil), Workhorse (United States), Pipistrel (Slovenia), Neva Aerospace (United Kingdom), Opener (Canada) and Fraport (Germany) |
According to AMA, the market for eVTOL Aircraft is expected to register a CAGR of 14.5% during the forecast period to 2030. This growth is primarily driven by Increasing Need for Quick Transportation and Increasing Road Traffic Congestion in Urban Areas.
Globally, a noticeable market trend is evident Development of Drone Infrastructure
Major Manufacturers, such as Kitty Hawk (United States), Lilium (Germany), EHang (China), Volocopter (Germany), Bell Helicopter (United States), A3 by Airbus (United States), Aurora Flight Sciences (United States), Embraer (Brazil), Workhorse (United States), Pipistrel (Slovenia), Neva Aerospace (United Kingdom), Opener (Canada) and Fraport (Germany), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail competitive advantage through combined synergies.
Key Developments in the Market:
On 8th June 2021, Kitty Hawk is the latest eVTOL developer to join the U.S. Air Force’s Agility Prime program, collaborating with the service to explore possible dual uses of its commercial Heaviside aircraft.
In July 2023, Joby Aviation acquired Uber Elevate. This major deal combines Joby's eVTOL aircraft expertise with Uber's ride-sharing network and urban mobility vision, creating a powerhouse in the air taxi space.
Regulatory Insights:
On July 2, EASA formally published its “Special Condition for Small-Category Vertical Take-Off and Landing (VTOL) Aircraft” (SC-VTOL). This is a major step forward for the certification of eVTOL vehicles. However, this special condition has what may be a fatal flaw: as a totally new category that isn’t an airplane, rotorcraft, balloon, or another type of regulated aircraft, there are no operating procedures for “VTOL” aircraft, and developing them is outside of EASA’s purview — EASA’s regulatory authority is more limited than those of the FAA. Furthermore, the levels of safety EASA required for UAM air taxi missions are equivalent to that of airliners, regardless of the number of passengers.
Influencing Trend:
Development of Drone Infrastructure and Growing Demand for an Alternative Mode of Transportation in Urban Cities
Market Growth Drivers:
Increasing Need for Quick Transportation and Increasing Road Traffic Congestion in Urban Areas
Challenges:
Infrastructure of City or Country
Restraints:
High Cost of eVTOL Aircraft
Opportunities:
Advancements in the Manufacturing Capability and Increasing Investments from Various Manufacturers in Commercial Applications
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in eVTOL Aircraft Market
- Analysis about New Entrants in eVTOL Aircraft Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, eVTOL Aircraft Study Sheds Light on
The eVTOL Aircraft Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the eVTOL Aircraft industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where eVTOL Aircraft industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.