eVTOL Industry Scope
Noise is often reported as a major problem associated with aircrafts. Market Research Future (MRFR) suggested that the worldwide market for electric vertical takeoff and landing (eVTOL) aircrafts can capitalize on its noise reduction benefit. MRFR reveals that the global eVTOL Aircraft industry is anticipated to strike a 19.89% CAGR through the forecast period (2019 to 2030).
eVTOL Industry Key Players
Workhorse Group Inc. (US), A³ by Airbus (US), LIFT Aircraft Inc. (US), Embraer (Brazil), Aurora Flight Sciences (US), Karem Aircraft, Kitty Hawk (US), Inc. (US), EHANG (China), Neva Aerospace (UK), Joby Aviation (US), Opener (US), Lilium (Germany), Pipistrel (Slovenia), Bell Helicopter (US), and Volocopter GmbH (Germany) are some of the potent vendors that are operating effectively in the worldwide market.
eVTOL Industry Segmental Overview
The global market of eVTOL aircraft has been segmentedbylift technology, propulsion type, application, range, mode of operation, and Mtow.
By lift technology, the industry has been segmented into lift pulse cruise, vectored thrust, multirotor, and others. The vectored thrust segment is likely to thrive at the highest CAGR over the evaluation period. This due to the ability of vectored thrust technology to enable eVTOL aircraft to achieve an augmented endurance and better efficiency.
By propulsion type, the market has been segmented into hybrid, fully electric, and electric hydrogen. The fully electric segment is expected to profit by the launch of new products and key players undertaking extensive developmental assignments. In May 2019, Lilium, a Germany based eVTOL aircraft developer, successfully completed Lilium Jet’s first test. This illustrates the promising future of the market.
By Mtow, the market has been classified as <200 kg, 250–500 kg, 500–1,500 kg, and >1,500 kg. The 250–500 kg segment projected to progress at a high CAGR by 2024 owing to the short travel benefit of 250–500 kg eVTOL aircraft.
By application, the industry has been segmented into cargo, commercial, and military. Currently, the commercial segment is noted as the fastest-growing segment. MRFR states that by 2024, the segment is likely to thrive at a higher CAGR due to the increase in the need for alternative modes of transportation, for the rising world population.
By range, the market has been divided into 0–200 km and 200–500 km. The 200–500 km segment is expected to raise high revenue for the market as high number of eVTOL aircraft are being deployed for intercity conveyance.
By mode of operation, the market has been divided into optionally piloted and piloted. The optionally piloted segment, due to hike in investments made by governments marking rate of eVTOL aircraft production, is likely to exhibit a fast-paced expansion.
eVTOL Industry Regional Outlook
By region, the eVTOL aircraft market has been assessed across Asia-Pacific, North America, Latin America. Europe, and the Middle East Asia and Africa.
Intensifying population density, early adoption of modern technologies, and stringent norms of the regional governments on environmental protection are expected to boost the growth of the Asia Pacific eVTOL aircraft market. In the Asia Pacific region, drone manufacturers are experiencing high demand for the production of eVTOL aircraft.
The intention being rising utility of eVTOL aircraft to enhance urban air mobility, serving commercial purposes. Wealthy countries such as China and Japan are making hefty investments to upgrade eVTOL aircraft for enhanced utility. In addition, the expansiveness of the APAC eVTOL aircraft market can be attributed to the inclination of verticals towards automation, surge in comfort threshold, rise in demand for better urban transportation, and globalization.
The China Academy of Civil Aviation Science and Technology (CAST) awarded EHang, a China-based manufacturer of eVTOL aircraft, unmanned aircraft system (UAS) safety certificate.
Global eVTOL Aircraft industry : Information by Type (Air Taxis, Delivery Drones and others), Battery Type (Lithium-Ion Batteries, Solid-State Batteries and Hydrogen Fuel Cells), Lift Technology (Multirotor, Vectored Thrust, Lift Plus Cruise and others), Type of Propulsion (Fully Electric, Hybrid, and Electric Hydrogen), Type of MTOW (<250 kg, 250–500 kg, 500–1,500 kg and >1,500 kg), Range (0–200 km and 200–500 km), Mode of Operation (Piloted and Optionally Piloted), Application (Commercial, Cargo and Military) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030 https://www.marketresearchfuture.com/reports/evtol-aircraft-market-7952