eVTOL Aircraft Revolution: CAGR of 52.0% Anticipated from 2023 to 2035

1
eVTOL Aircraft Revolution CAGR of 52.0
Anticipated from 2023 to 2035
The eVTOL Aircraft Market size is projected to
grow from USD 1.2 Billion in 2023 to USD 23.4
Billion by 2035, at a CAGR of 52.0 from 2023 to
2035. Some of the factors fueling the
markets growth include the growing need for
green energy and
noise-free increasing alternative transport,
technologies motors,
aircraft,
demand for modes of
and improving
in batteries, power increasing
and
electronics. The

• need for sustainable aviation practices, rising
  prices of conventional aviation fuel,
• and technological advancements provide lucrative
  opportunities for EVTOL Aircraft providers
  during the forecast period. Urban travel is
  evolving rapidly with new
• technologies and transport modes.
• Download PDF Brochure _at_
• https//www.marketsandmarkets.com/pdfdownloadNew.a
  sp?id28054110
• The EVTOL Aircraft market is witnessing
  technological advancements right from structural
  materials to adoption across systems. One of
  which is Urban Air Mobility (UAM), a concept
  which incorporates technological advancements in
  hybrid fuel systems and flight automation. Urban
  air mobility eVTOL platforms include Air Taxis,
  Personal Air vehicles (PAV), Cargo Air vehicles
  (CAV), and Air ambulances. On- demand air taxi
  services have the potential to improve urban
  mobility for businesses radically.
• Based on Propulsion Type, The EVTOL Aircraft
  market has been segmented on the basis of
  propulsion type into fully electric, hybrid, and
  electric hydrogen. Propulsion type in EVTOL
  refers to the means by which electric vertical
  take-off and landing aircraft generate thrust
  for propulsion. Fully electric propulsion relies
  solely on electric power sources, such as
  batteries, to drive the aircraft's motors and
  provide thrust. This propulsion type is
  currently dominating the market due to several
  factors. Firstly, it offers zero-emission
  operations, aligning with the growing demand for
  sustainable transportation solutions.
  Additionally, advancements in battery technology
  have improved energy storage capacity, allowing
  for longer flight durations. Furthermore, the
  simplicity and reliability of fully electric
  propulsion systems contribute to their larger
  market share in EVTOL aircraft.
• Based on Lift Technology, the EVTOL Aircraft
  market has been segmented into vectored thrust,
  multi-rotor, and lift plus cruise. Lift
  technology type in EVTOL refers to the
  mechanisms employed by electric vertical take-off
  and landing aircraft to generate the necessary
  lift for flight. Vectored thrust utilizes thrust
  vectoring

2
mechanisms to manipulate the direction of
propulsive force, while multirotor systems rely
on multiple rotors to generate lift. Lift plus
Cruise combines the use of fixed wings for
efficient cruise flight with additional
lift-producing mechanisms during take-off and
landing. Among these options, multirotor
technology is expected to exhibit a faster
compound growth rate. This is due to its
inherent advantages, such as vertical take-off
and landing capabilities, maneuverability, and
simplified control systems, making it more
suitable for urban air mobility applications and
driving market demand. Based on Mode of
Operation, The EVTOL Aircraft market has been
segmented into piloted and autonomous. Mode of
operation in EVTOL refers to the manner in which
electric vertical take-off and landing aircraft
are controlled and operated. Autonomous mode
involves the aircraft operating without direct
human intervention, relying on advanced sensors,
navigation systems, and artificial intelligence
algorithms. In contrast, piloted mode involves
human pilots actively controlling and
maneuvering the aircraft. Despite the potential
benefits of autonomous operation, piloted mode
is expected to grow at a faster compound rate.
This is primarily due to regulatory and safety
concerns surrounding autonomous flight, as well
as the preference for human oversight and
control in the early stages of EVTOL
development, ensuring passenger trust and
regulatory compliance. Based on MTOW, The EVTOL
Aircraft market has been segmented into lt250 Kg,
250- 1000 Kg, 1000-2000 Kg, and gt2000 Kg. MTOW,
in the context of EVTOL (electric vertical
take-off and landing), stands for Maximum
Take-off Weight. It refers to the maximum weight
at which an EVTOL aircraft is certified to take
off. This weight includes the aircraft's
structure, systems, fuel or energy storage,
payload, and passengers. The range of 1000-2000
KG for MTOW is expected to grow at a faster
compound rate due to several factors. Firstly,
this weight range aligns with the requirements
for urban air mobility and short-haul
transportation, which are the primary
applications for EVTOL aircraft. Additionally,
EVTOL vehicles within this weight range offer a
good balance between payload capacity and energy
efficiency, making them suitable for a wide
range of missions while complying with regulatory
restrictions. Moreover, advancements in battery
technology and lightweight materials have
facilitated the development of EVTOL aircraft
within this weight category, contributing to its
faster compound rate of growth. Based on Range,
the EVTOL market has been segmented into lt 200 Km
and gt 200 Km. EVTOL range refers to the maximum
distance an electric vertical take-off and
landing aircraft can travel on a single charge or
energy supply. It represents the operational
range or endurance of the EVTOL vehicle,
indicating how far it can fly before requiring
recharging or refueling. EVTOL aircraft with a
range exceeding 200 Km can cater to
longer-distance travel demands, making them
attractive for commuters and travellers.
Additionally, advancements in battery technology
and energy efficiency have increased the range
of capabilities of EVTOL vehicles, enabling them
to cover greater distances. This expanded range
capability paves the way for new market
opportunities and fosters the growth of EVTOL
transportation networks connecting cities and
regions. Key Market Players Major players
operating in the EVTOL Aircraft market include
Jaunt Air Mobility (US), Lilium (Germany),
Volocopter (Germany), and EHang (China), among
others.
3
EVTOL Aircraft manufacturers are primarily
focused on research and development (RD) and
innovations aimed at a lot of areas. These areas
include battery technology, where companies are
focusing on improving energy density, charging
speed, and battery lifespan. Aerodynamics and
propulsion are also receiving attention, with
research aimed at optimizing designs to enhance
efficiency and reduce energy consumption.
Additionally, significant investments are being
made in autonomy and flight control systems,
leveraging advanced sensor technologies and
artificial intelligence to enable safer and more
reliable operations. These focused RD
initiatives are poised to drive the progress of
the eVTOL market, paving the way for efficient
and autonomous air transportation solutions. Ask
for Sample Report _at_ https//www.marketsandmarkets.
com/requestsampleNew.asp?id28054110 About
MarketsandMarkets MarketsandMarkets is a blue
ocean alternative in growth consulting and
program management, leveraging a man-machine
offering to drive supernormal growth for
progressive organizations in the B2B space. We
have the widest lens on emerging technologies,
making us proficient in co-creating supernormal
growth for clients. The B2B economy is witnessing
the emergence of 25 trillion of new revenue
streams that are substituting existing revenue
streams in this decade alone. We work with
clients on growth programs, helping them monetize
this 25 trillion opportunity through our
service lines - TAM Expansion, Go-to-Market (GTM)
Strategy to Execution, Market Share Gain,
Account Enablement, and Thought Leadership
Marketing. Contact Mr. Aashish Mehra
MarketsandMarkets INC. 630 Dundee Road Suite
430 Northbrook, IL 60062 USA 1-888-600-6441