FREMONT, California, Jan. 9, 2020 /PRNewswire/ -- According to a new market intelligence report by BIS Research titled "Global Electric VTOL (eVTOL) Aircraft Market - Analysis and Forecast, 2025-2035", the eVTOL aircraft market is estimated to be approximately $524.0 million by 2025 and is projected to reach $1.9 billion by 2035, in terms of value. The market is anticipated to witness a CAGR of 13.75% during the forecast period from 2025 to 2035. This growth of this market is further aided by factors such as increasing road traffic congestion in urban areas and a growing need for faster and efficient transportation.
The eVTOL aircraft, is a term used to describe the type of systems that enable on-demand, safe, highly automated, passenger, and cargo-carrying air transportation services in a metropolitan environment for manned and unmanned aircraft systems. The eVTOL aircraft market report framework focuses on infrastructure, technology, and business. Infrastructure and technology are the most significant factors required for eVTOL aircraft to take-off during a flight.
The technological framework includes system architecture, battery operations, charging technology, software development, ground and air operation, and certifications, among others. The vehicles need to be manufactured at a large scale so that they create new opportunities and benefits through advanced aircraft.
Sky ports require a large amount of power, in turn, generating business for utility companies, whereas a growing need for new infrastructure is expected to create opportunities for the real estate industry. The manufacturers are continuously taking initiatives to develop various innovative infrastructural concepts, such as better connectivity, better tracking systems, and almost every vertiport in the coming future which is expected to have charging stations.
The global eVTOL aircraft market is categorized on the basis of technology that includes rotorcraft, vectored thrust, lift+cruise, and hoverbikes. The report also includes market segmentation by infrastructure (vertiports, charging stations, and traffic management systems), application (air taxi, personal air vehicle, hoverbikes, cargo aerial vehicle, and air ambulance), operation (piloted and optionally piloted), energy source (battery, hybrid, and hydrogen), end-user (commercial and government and military), and component (sensors, airframes, camera, LIDAR, radar, battery, motor, INS/IMU, and GPS/GNSS).
According to Sudheer Uniyal, Lead Analyst at BIS Research, "The U.S. is one of the most prominent countries with a considerable potential for the growth of the global eVTOL aircraft market. In 2025, the U.S. is expected to dominate the global eVTOL aircraft market, acquiring the maximum market share. However, the geographical analysis of this market unveils an immense potential for its growth in the Asia-Pacific region as well. China is expected to acquire the largest market share, and Singapore is expected to witness the highest growth rate in this region during the period 2025-2035. Similarly, the Europe market is also likely to witness numerous growth opportunities during the forecast period."
The market report provides a detailed analysis of the recent trends influencing the market, along with a comprehensive study of future trends and technological developments. It also includes a competitive analysis of the leading players in the industry, including corporate overview, financial summary, and SWOT analysis. The overall market has been segmented by type and by the end user. The report also includes a comprehensive section on the region-wise analysis, including country analysis for more than ten different countries.
This report is a meticulous compilation of research on more than 50 players in the eVTOL aircraft ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of the leading companies, market participants, and vendors. The report has profiled around 15 companies, namely, Airbus, Airspace Experience Technologies, Aurora Flight Sciences, Bell Helicopter, The Boeing Company, EHANG, Embraer, Karem Aircraft, Kitty Hawk, Lilium, Neva Aerospace, Opener, Pipistrel, Volocopter, and Workhorse Group.
Key Questions Answered in the Report:
How is the eVTOL aircraft industry expected to evolve during the forecast period 2025-2035?
What are the major driving forces that tend to increase the demand for the global market during the forecast period, 2025-2035?
What are the major challenges inhibiting the growth of the global eVTOL aircraft market?
What are the major opportunities that the eVTOL aircraft manufacturers foresee?
How the market is projected to grow during the forecast period, 2025- 2035, across different segments, on the basis of:
technology, including rotocraft, vectored thrust, lift+cruise, and hoverbikes
component, including sensors, airframes, camera, lidar, radar, battery, INS/IMU, and GPS/GNSS
energy source, including battery, hybrid, and hydrogen
operation, including piloted and optionally piloted
application, including air taxi, air ambulance, cargo aerial vehicle, personal air vehicle, and hoverbikes
end user, including commercial and government and military
infrastructure, including vertiports, charging stations, and traffic management systems
region, including North America, Europe, Asia-Pacific, and Rest-of-the-World
Who are the key players in the global eVTOL aircraft market, and what are their competitive benchmarking?
What are the new strategies adopted by the existing market players to make a mark in the industry?
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm focusing on those emerging technological trends which are likely to disrupt the dynamics of the market.
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