The global eVTOL Aircraft Market Size is estimated to be US$ 1.4 Billion in 2023 and is poised to register 5.8% growth over the forecast period from 2023 to 2030 to reach US $ 2.1 billion in 2030.
The market growth is driven predominantly by the aviation industry has been under pressure to reduce its environmental footprint. Electric aircraft, including eVTOLs, are seen as more environmentally friendly due to their lower emissions and reduced noise compared to traditional combustion engine aircraft. Leading companies focusing on Urban Air Mobility Integration, Air Taxi Services, Inter-City Transport, Cargo Transport, Tourism and Sightseeing, Technology Advancements, Regulatory Progress, Environmental Benefits, and others to boost market shares in the industry.
The electric Vertical Takeoff and Landing (eVTOL) aircraft market is a rapidly evolving sector focused on developing electric aircraft capable of vertical takeoff and landing. With a range of players including aerospace companies and startups, the market aims to revolutionize urban air mobility by providing efficient transportation solutions, such as air taxis, cargo drones, and emergency response vehicles. Technological advancements, such as improved batteries and lightweight materials, drive feasibility, while challenges include regulatory approvals, infrastructure development, and battery limitations. Investment and partnerships are accelerating the market's growth, though commercial operations are still in the testing phase, with a dynamic timeline for widespread implementation.
Urban Air Mobility (UAM) is a key driver within the electric Vertical Takeoff and Landing (eVTOL) aircraft market. It envisions a future where eVTOLs play a vital role in addressing urban congestion by offering efficient and swift transportation solutions within cities. UAM aims to revolutionize how people and goods move by providing on-demand air taxi services, reducing travel times, and alleviating traffic. This concept is pushing technological advancements, fostering partnerships, and spurring investment to realize the potential of eVTOLs for transforming urban transportation. However, challenges related to infrastructure, regulations, and public acceptance need to be addressed for UAM to become a widespread reality.
Technological advancements are propelling the electric Vertical Takeoff and Landing (eVTOL) aircraft market forward. Innovations in battery technology, electric propulsion systems, lightweight materials, and autonomous flight systems are enhancing the efficiency, range, safety, and feasibility of eVTOLs. These advancements are crucial in extending flight ranges, increasing payload capacities, and reducing operational costs. Distributed electric propulsion systems, including tilt-rotor and tilt-wing configurations, are improving aircraft stability and maneuverability, enabling vertical takeoff and landing. Additionally, progress in software and control systems is contributing to the development of reliable autonomous operations, a key factor in the potential success of eVTOLs for urban air mobility and beyond.
Regulatory development is a critical aspect shaping the electric Vertical Takeoff and Landing (eVTOL) aircraft market. Aviation authorities around the world are working to establish guidelines and certification processes that ensure the safety and integration of eVTOLs into airspace. These regulations cover areas such as airworthiness standards, pilot training, operational procedures, and noise considerations. The successful growth of the eVTOL market hinges on the collaboration between industry stakeholders and regulatory bodies to create a framework that balances innovation with safety, thereby enabling the commercial deployment of eVTOLs for urban air mobility and other applications.
The global eVTOL Aircraft Market is analyzed across vectored thrust, Multirotor, Lift plus Cruise, and others. Of these, vectored thrust is poised to register the fastest growth. Vectored thrust is a pivotal technology in the electric Vertical Takeoff and Landing (eVTOL) aircraft market. It involves the manipulation of thrust direction through adjustable engines or propellers, enabling precise control of an aircraft's movement during vertical takeoff, hovering, and landing phases. Vectored thrust systems, often combined with tilt-rotor or tilt-wing designs, enhance aircraft agility, stability, and maneuverability. By redirecting thrust horizontally or vertically, eVTOLs can transition between vertical and forward flight, optimizing efficiency and enabling the aircraft to navigate tight spaces. Vectored thrust technology plays a vital role in realizing the vision of urban air mobility and expanding the capabilities of eVTOLs for various applications within the aerospace industry.
The global eVTOL Aircraft Market is analyzed across a wide range of applications including Air Taxis, Air Shuttles and Air Metro, Private Transport, Cargo Transport, Air Ambulance, Last Mile Delivery, Surveillance, and Others. Of these, Air Taxis held a significant market share in 2023. Air taxis are a pivotal application in the electric Vertical Takeoff and Landing (eVTOL) aircraft market, offering on-demand urban transportation. Leveraging eVTOL technology, these services aim to reduce congestion and travel times by providing direct point-to-point flights. Passengers would book rides via mobile apps, and eVTOLs would take off and land vertically from designated locations. Advancements in technology, infrastructure, and regulations are essential to ensure the safety and efficiency of air taxi operations, making them a driving force in the eVTOL market's growth and the realization of urban air mobility solutions.
By Type
By Propulsion Type
By System
By Mode Of Operation
By Application
By Mtow
By Region
eVTOL Aircraft Market Companies
* List not exhaustive
EVTOL Aircraft Market Outlook 2023
1 Market Overview
1.1 Introduction to the EVTOL Aircraft Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 EVTOL Aircraft Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global EVTOL Aircraft Market Companies with Area Served
4.2.2 Products Offerings Global EVTOL Aircraft Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 Post-COVID-19 Scenario- Low Growth Case
5.1.3 Post-COVID-19 Scenario- Reference Growth Case
5.1.4 Post-COVID-19 Scenario- Low Growth Case
6 Global EVTOL Aircraft Market Trends
6.1 Global EVTOL Aircraft Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global EVTOL Aircraft Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global EVTOL Aircraft Revenue (USD Million) and CAGR (%) by Regions (2018-2030)
7 Global EVTOL Aircraft Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global EVTOL Aircraft Revenue (USD Million) by Type (2018-2022)
7.1.1 Global EVTOL Aircraft Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global EVTOL Aircraft Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global EVTOL Aircraft Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global EVTOL Aircraft Development Regional Status and Outlook
8.1 Global EVTOL Aircraft Revenue (USD Million) By Regions (2018-2022)
8.2 North America EVTOL Aircraft Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America EVTOL Aircraft Revenue (USD Million) by Country (2018-2022)
8.2.2 North America EVTOL Aircraft Revenue (USD Million) by Type (2018-2022)
8.2.3 North America EVTOL Aircraft Revenue (USD Million) by Applications (2018-2022)
8.3 Europe EVTOL Aircraft Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe EVTOL Aircraft Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe EVTOL Aircraft Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe EVTOL Aircraft Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific EVTOL Aircraft Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific EVTOL Aircraft Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific EVTOL Aircraft Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific EVTOL Aircraft Revenue (USD Million) by Applications (2018-2022)
8.5 South America EVTOL Aircraft Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America EVTOL Aircraft Revenue (USD Million), by Country (2018-2022)
8.5.2 South America EVTOL Aircraft Revenue (USD Million) by Type (2018-2022)
8.5.3 South America EVTOL Aircraft Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa EVTOL Aircraft Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa EVTOL Aircraft Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa EVTOL Aircraft Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa EVTOL Aircraft Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global EVTOL Aircraft Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global EVTOL Aircraft Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global EVTOL Aircraft Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global EVTOL Aircraft Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global EVTOL Aircraft Revenue (USD Million), and Market Share (%) by Applications (2023-2030)
11 Global EVTOL Aircraft Development Regional Status and Outlook Forecast
11.1 Global EVTOL Aircraft Revenue (USD Million) By Regions (2023-2030)
11.2 North America EVTOL Aircraft Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America EVTOL Aircraft Revenue (USD) Million by Country (2023-2030)
11.2.2 North America EVTOL Aircraft Revenue (USD Million), by Type (2023-2030)
11.2.3 North America EVTOL Aircraft Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe EVTOL Aircraft Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe EVTOL Aircraft Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe EVTOL Aircraft Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe EVTOL Aircraft Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific EVTOL Aircraft Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific EVTOL Aircraft Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific EVTOL Aircraft Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific EVTOL Aircraft Revenue (USD Million), by Applications (2023-2030)
11.5 South America EVTOL Aircraft Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America EVTOL Aircraft Revenue (USD Million), by Country (2023-2030)
11.5.2 South America EVTOL Aircraft Revenue (USD Million), by Type (2023-2030)
11.5.3 South America EVTOL Aircraft Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa EVTOL Aircraft Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa EVTOL Aircraft Revenue (USD Million), by Region (2023-2030)
11.6.2 Middle East and Africa EVTOL Aircraft Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa EVTOL Aircraft Revenue (USD Million), by Applications (2023-2030)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global EVTOL Aircraft Market Companies with Areas Served
Table 3 Products Offerings Global EVTOL Aircraft Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global EVTOL Aircraft Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global EVTOL Aircraft Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global EVTOL Aircraft Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Table 11 Global EVTOL Aircraft Revenue Market Share (%) By Type (2018-2022)
Table 12 Global EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Table 13 Global EVTOL Aircraft Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global EVTOL Aircraft Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global EVTOL Aircraft Market Share (%) By Regions (2018-2022)
Table 16 North America EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Table 17 North America EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Table 18 North America EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Table 20 Europe EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Table 21 Europe EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Table 25 South America EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Table 26 South America EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Table 27 South America EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Table 33 Global EVTOL Aircraft Revenue Market Share (%) By Type (2023-2030)
Table 34 Global EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Table 35 Global EVTOL Aircraft Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global EVTOL Aircraft Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America EVTOL Aircraft Revenue (USD)By Country (2023-2030)
Table 38 North America EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Table 39 North America EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe EVTOL Aircraft Revenue (USD Million) By Country (2023-2030)
Table 41 Europe EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Table 42 Europe EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Table 46 South America EVTOL Aircraft Revenue (USD Million) By Country (2023-2030)
Table 47 South America EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Table 48 South America EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Figure 4 Global EVTOL Aircraft Revenue Market Share (%) By Type (2022)
Figure 5 Global EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global EVTOL Aircraft Revenue Market Share (%) By Applications (2022)
Figure 7 Global EVTOL Aircraft Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global EVTOL Aircraft Market Share (%) By Regions (2022)
Figure 9 North America EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Figure 10 North America EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Figure 11 North America EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America EVTOL Aircraft Revenue (USD Million) By Country (2018-2022)
Figure 19 South America EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Figure 20 South America EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Figure 25 Global EVTOL Aircraft Revenue Market Share (%) By Type (2030)
Figure 26 Global EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global EVTOL Aircraft Revenue Market Share (%) By Applications (2030)
Figure 28 Global EVTOL Aircraft Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America EVTOL Aircraft Revenue (USD Million) By Country (2023-2030)
Figure 30 North America EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Figure 31 North America EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe EVTOL Aircraft Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America EVTOL Aircraft Revenue (USD Million) By Country (2023-2030)
Figure 39 South America EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Figure 40 South America EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa EVTOL Aircraft Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches For This Report
Figure 46 Data Triangulation
By Type
By Propulsion Type
By System
By Mode Of Operation
By Application
By Mtow
By Region