eVTOL Aircrafts Market Report 2024 (Global Edition)

Global eVTOL Aircrafts Market Report 2024 Market Size Split by Lift Technology (Vectored Thrust, Multirotor, Lift plus Cruise), by Application (Air Taxis, Air Shuttles & Air Metro, Private Transport, ...

eVTOL Aircrafts Market Report Description

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eVTOL Aircrafts Market Insights Video

Competitive Landscape of the eVTOL Aircrafts Market

The competitive landscape is a reflection of the industry's dynamic nature, with a blend of established aerospace giants and nimble startups driving innovation. The race for technological supremacy, strategic collaborations, and securing vital investments underscores the collective effort to bring EVTOL aircraft into mainstream urban transportation.

eVTOL Aircrafts Industry News

• In May 2021, Archer Aviation declared a strategic partnership with United Airlines to launch an eVTOL aircraft for aiding air taxi services.

(Source: airwaysmag.com/archer-united-first-evtol-air-shuttle/#:~:text=Archer%20Aviation's%20first%20customer%2C%20UA,landing%20(eVTOL)%20Midnight%20aircraft.)

Top Companies Market Share in eVTOL Aircrafts Industry: (In no particular order of Rank)

• Elbit Systems Ltd
• Bell Textron Inc
• EHang Holdings Ltd
• Airbus SE
• Embraer SA
• Lilium GMBH
• Elroy Air
• Confidential Data
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

In terms of revenue, the North American eVTOL Aircrafts Market share was 40% of the total market

According to Cognitive Market Research, the global EVTOL Aircrafts market size was estimated at USD 1.3 Billion out of which North America held the major market of more than 40% of the global revenue with a market size of USD 0.52 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 51.0% from 2023 to 2030. North America stands at the forefront of EVTOL innovation, with major players, research institutions, and regulatory bodies contributing to the region's technological leadership. The demand for EVTOL aircraft is propelled by North America's commitment to urban air mobility, fostering a supportive environment for testing, development, and commercial deployment. Segmentation analysis underscores diverse applications, from air taxis and on-demand urban transportation to cargo delivery, each contributing to the region's dominance. In conclusion, North America's prominence in the EVTOL Aircraft market is a testament to the region's technological prowess, regulatory foresight, and the collaborative efforts of industry stakeholders. As the demand for urban air mobility solutions continues to grow, North America is poised to lead the global EVTOL revolution, setting the trajectory for widespread adoption and integration into the region's dynamic transportation landscape.

According to Cognitive Market Research, the global EVTOL Aircrafts market size was estimated at USD 1.3 Billion out of which Asia Pacific held the fastest growing market of more than 23% of the global revenue with a market size of USD 0.30 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 54.8% from 2023 to 2030. Asia Pacific emerges as the fastest-growing region, spearheading transformative changes in urban air mobility and transportation. The segmentation analysis reveals a diverse set of applications, with Commercial eVTOLs dominating the market. The region's megacities are driving the demand for commercial eVTOLs, offering a solution to alleviate urban congestion and provide swift point-to-point transportation.In conclusion, Asia Pacific stands as a pivotal player in shaping the future of the eVTOL Aircraft market. The region's rapid economic growth, technological advancements, and increasing urbanization create a fertile ground for the integration of eVTOLs into daily transportation practices.

The current report Scope analyzes eVTOL Aircrafts Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America eVTOL Aircrafts Market

According to Cognitive Market Research, the global EVTOL Aircrafts market size was estimated at USD 1.3 Billion out of which North America held the major market of more than 40% of the global revenue with a market size of USD 0.52 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 51.0% from 2023 to 2030. North America stands at the forefront of EVTOL innovation, with major players, research institutions, and regulatory bodies contributing to the region's technological leadership. The demand for EVTOL aircraft is propelled by North America's commitment to urban air mobility, fostering a supportive environment for testing, development, and commercial deployment. Segmentation analysis underscores diverse applications, from air taxis and on-demand urban transportation to cargo delivery, each contributing to the region's dominance. In conclusion, North America's prominence in the EVTOL Aircraft market is a testament to the region's technological prowess, regulatory foresight, and the collaborative efforts of industry stakeholders. As the demand for urban air mobility solutions continues to grow, North America is poised to lead the global EVTOL revolution, setting the trajectory for widespread adoption and integration into the region's dynamic transportation landscape.

Europe eVTOL Aircrafts Market

According to Cognitive Market Research, the global EVTOL Aircrafts market size was estimated at USD 1.3 Billion out of which Europe market held of more than 30% of the global revenue with a market size of USD 0.39 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 51.3% from 2023 to 2030. The region's commitment to sustainable aviation, advanced infrastructure, and regulatory support positions Europe at the forefront of EVTOL development. Segmentation analysis reveals diverse applications, from urban air mobility solutions to regional connectivity, each contributing to the region's dynamic EVTOL market. In conclusion, Europe's prominence in the EVTOL Aircraft market signifies a fusion of technological prowess and collaborative regulatory frameworks. The region's strategic investments in sustainable transportation solutions, along with a focus on fostering EVTOL innovation, make Europe a key player in shaping the future of urban air mobility.

• According to Cognitive Market Research, The Portugal EVTOL Aircrafts market is projected to witness growth at a CAGR of 51.1% during the forecast period with a market size of USD 0.01 billion in 2023.
• The Luxembourg EVTOL Aircrafts market is projected to witness growth at a CAGR of 51.4% during the forecast period with a market size of USD 0.01 billion in 2023.
• The Greece EVTOL Aircrafts market is projected to witness growth at a CAGR of 51.6% during the forecast period with a market size of USD 0.00 billion in 2023.
• The Rest of Europe EVTOL Aircrafts market is projected to witness growth at a CAGR of 50.0% during the forecast period with a market size of USD 0.06 billion in 2023.

Asia Pacific eVTOL Aircrafts Market

According to Cognitive Market Research, the global EVTOL Aircrafts market size was estimated at USD 1.3 Billion out of which Asia Pacific held the fastest growing market of more than 23% of the global revenue with a market size of USD 0.30 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 54.8% from 2023 to 2030. Asia Pacific emerges as the fastest-growing region, spearheading transformative changes in urban air mobility and transportation. The segmentation analysis reveals a diverse set of applications, with Commercial eVTOLs dominating the market. The region's megacities are driving the demand for commercial eVTOLs, offering a solution to alleviate urban congestion and provide swift point-to-point transportation. In conclusion, Asia Pacific stands as a pivotal player in shaping the future of the eVTOL Aircraft market. The region's rapid economic growth, technological advancements, and increasing urbanization create a fertile ground for the integration of eVTOLs into daily transportation practices.

• According to Cognitive Market Research, The South East Asia EVTOL Aircrafts market is projected to witness growth at a CAGR of 55.8% during the forecast period with a market size of USD 0.02 billion in 2023.
• The Rest of Asia Pacific EVTOL Aircrafts market is projected to witness growth at a CAGR of 54.6% during the forecast period with a market size of USD 0.02 billion in 2023.

South America eVTOL Aircrafts Market

According to Cognitive Market Research, the global EVTOL Aircrafts market size was estimated at USD 1.3 Billion out of which Latin America market held of more than 5% of the global revenue with a market size of USD 0.07 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 52.2% from 2023 to 2030. Regionally, Latin America exhibits a growing interest in EVTOL technology, driven by the need for efficient and innovative transportation solutions in both urban and remote areas. Countries like Brazil and Mexico contribute to the region's burgeoning EVTOL landscape with initiatives aimed at urban air mobility and regional connectivity. Segmentation analysis underscores diverse applications, ranging from addressing urban congestion to enhancing accessibility in geographically challenging terrains, each playing a role in the region's evolving EVTOL market. In conclusion, Latin America stands at the forefront of embracing EVTOL Aircraft technology, leveraging its potential to address transportation challenges unique to the region. As urbanization accelerates and infrastructure develops, Latin America presents itself as a dynamic market poised for EVTOL adoption, offering opportunities for manufacturers and operators to shape the future of aerial mobility in this distinct and promising aviation landscape.

• According to Cognitive Market Research, The Rest of Latin America EVTOL Aircrafts market is projected to witness growth at a CAGR of 51.3% during the forecast period with a market size of USD 0.01 billion in 2023.

Middle East and Africa eVTOL Aircrafts Market

According to Cognitive Market Research, the global EVTOL Aircrafts market size was estimated at USD 1.3 Billion out of which the Middle East and Africa market held of more than 2.00% of the global revenue with a market size of USD 0.03 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 52.5% from 2023 to 2030. Regionally, MEA showcases a burgeoning interest in EVTOL technology, driven by the region's commitment to technological innovation and sustainable transportation solutions. The United Arab Emirates, in particular, stands out with initiatives focused on urban air mobility and cutting-edge aviation projects. Segmentation analysis reveals diverse applications, from addressing urban congestion in major cities to facilitating transportation in remote and challenging terrains, contributing to the region's dynamic EVTOL market. In conclusion, the Middle East and Africa position themselves as early adopters and influencers in the EVTOL Aircraft market, harnessing innovative solutions for both urban and regional transportation challenges.

• According to Cognitive Market Research, The Nigeria EVTOL Aircrafts market is projected to witness growth at a CAGR of 51.6% during the forecast period with a market size of USD 0.00 billion in 2023.
• The Rest of MEA EVTOL Aircrafts market is projected to witness growth at a CAGR of 51.5% during the forecast period with a market size of USD 0.00 billion in 2023.

eVTOL Aircrafts Market Analysis

eVTOL Aircrafts Lift Technology Segment Analysis

According to Cognitive Market Research, the dominant category is Lift plus Cruise. EVTOL aircraft utilizing Lift plus Cruise technology combine the advantages of both vectored thrust and multirotor systems. These aircraft can transition from vertical takeoff and landing (VTOL) to horizontal flight, offering a versatile solution for urban air mobility and regional transportation. The Lift plus Cruise technology provides an optimal balance between efficient vertical lift capabilities during takeoff and landing phases and streamlined horizontal flight for cruising.

The fastest-growing category in the EVTOL Aircrafts Market is Multirotor. Multirotor EVTOL aircraft, characterized by multiple rotors for vertical lift, are experiencing rapid growth due to their simplicity, maneuverability, and suitability for short-distance urban air mobility. With the capability for vertical takeoff and landing, multirotor EVTOLs are well-suited for navigating congested urban environments, making them ideal for air taxis and intra-city transportation.

• Vectored Thrust
• Multirotor
• Lift plus Cruise

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of eVTOL Aircrafts Industry. Request a Free Sample PDF!

eVTOL Aircrafts Application Segment Analysis

According to Cognitive Market Research, the dominant category is Air Taxis. The dominance of Air Taxis reflects the transformative potential of EVTOL technology in urban air mobility. Air Taxis redefine city transportation by providing on-demand, point-to-point aerial travel, addressing urban congestion and enhancing overall mobility. The dominant status of Air Taxis underscores the industry's focus on meeting the increasing demand for efficient and time-saving transportation solutions in densely populated urban areas.

The fastest-growing category in the EVTOL Aircrafts Market is Last Mile Delivery. As e-commerce continues to thrive, there is an increasing need for rapid and efficient last-mile delivery solutions. EVTOL aircraft offer a unique advantage by bypassing ground traffic and delivering packages directly to their destination. The fastest-growing status of Last Mile Delivery highlights the industry's recognition of the potential for EVTOL technology to revolutionize logistics and fulfill the demand for swift and reliable package delivery.

• Air Taxis
• Air Shuttles & Air Metro
• Private Transport
• Cargo Transport
• Air Ambulance & Medical Emergency
• Last Mile Delivery
• Inspection & Monitoring
• Surveying & Mapping
• Surveillance
• Special Mission
• Others

The above Graph is for representation purposes only. This chart does not depict actual Market share.

eVTOL Aircrafts System Segment Analysis

According to Cognitive Market Research, the dominant category is Batteries & Cells. As the heartbeat of electric aviation, the dominance of Batteries and cells underscores the critical role of energy storage in powering EVTOL aircraft. Advances in battery technology are pivotal for extending the range, efficiency, and overall performance of electric vertical takeoff and landing (EVTOL) vehicles. The dominance of Batteries & Cells reflects the industry's relentless pursuit of energy-dense and lightweight battery solutions, crucial for achieving the operational capabilities required for urban air mobility and regional transportation.

The fastest-growing category in the EVTOL Aircrafts Market is Software. As EVTOL aircraft become more complex and integrated with advanced avionics and control systems, the role of software becomes paramount. Software solutions facilitate autonomous operations, precision navigation, and real-time data processing, contributing to the safety and efficiency of EVTOL flights. The fastest-growing status of Software highlights the industry's acknowledgment of the critical role played by software in enabling the sophisticated functionalities required for autonomous air mobility.

• Batteries & Cells
• Electric motors/Engines
• Aerostructures
• Avionics
• Software
• Others

eVTOL Aircrafts Propulsion Type Segment Analysis

According to Cognitive Market Research, the dominant category is Fully Electric. Fully Electric EVTOL aircraft are at the forefront of the market's evolution, representing a commitment to sustainable aviation solutions. With zero-emission propulsion systems, these aircraft align with the growing emphasis on environmental consciousness and reducing the carbon footprint of urban air mobility. The dominance of Fully Electric EVTOLs reflects the industry's recognition of the importance of clean and efficient propulsion technologies, making them well-suited for applications such as air taxis and short-distance urban transportation.

The fastest-growing category in the EVTOL Aircrafts Market is Electric Hydrogen. EVTOL aircraft powered by electric hydrogen propulsion systems are gaining momentum due to their potential for extended range and faster refueling compared to traditional battery-powered solutions. Electric hydrogen EVTOLs combine the benefits of electric propulsion with the energy density and quick refueling capabilities of hydrogen, making them well-suited for regional and inter-city transportation.

• Fully Electric
• Hybrid
• Electric hydrogen

eVTOL Aircrafts Mode of Operation Segment Analysis

According to Cognitive Market Research, the dominant category is Autonomous. The dominance of autonomous EVTOL aircraft underscores the industry's shift towards innovative and self-piloting aerial mobility solutions. Autonomous EVTOLs, guided by advanced AI algorithms and sensor technologies, represent the cutting edge of urban air mobility. The dominance of autonomous operation reflects the market's recognition of the potential for increased safety, efficiency, and scalability in air transportation.

The fastest-growing category in the EVTOL Aircrafts Market is piloted. Despite the growing trend towards autonomy, the Piloted category is experiencing rapid growth due to regulatory considerations, public acceptance, and the transitional phase of urban air mobility. Piloted EVTOLs, with skilled human pilots at the controls, provide a familiar and reassuring presence as the industry navigates the integration of autonomous technology.

• Autonomous
• Piloted

eVTOL Aircrafts Mtow Segment Analysis

According to Cognitive Market Research, the dominant category is "100-1,000 kg." This weight class represents a versatile range suitable for various urban air mobility applications, including air taxis and short-distance transportation. EVTOL aircraft falling within the 100-1,000 kg Maximum Takeoff Weight (Mtow) category strike a balance between payload capacity and agility, making them well-suited for navigating urban landscapes and providing efficient transportation solutions.

The fastest-growing category in the EVTOL Aircrafts Market is "<100 kg." This lightweight class is experiencing rapid growth due to its applicability in specialized use cases, such as personal air mobility, recreational flying, and surveillance. EVTOL aircraft with a Maximum Takeoff Weight (Mtow) of less than 100 kg offer agility, simplicity, and accessibility, catering to a diverse range of users. The fastest-growing status of the <100 kg category highlights the market's recognition of the potential for small and lightweight EVTOLs to address niche markets and serve individual mobility needs.

• <100 kg
• 100-1
• 000 kg
• 1
• 000-2
• 000 kg
• >2
• 000 kg

Author's Detail

Kalyani Raje

Senior Research Analyst at Cognitive Market Research

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An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile & Transportation vertical.

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