Electric Aircraft Market Report – Key Players, Technology, Platform (Regional Transport, Business Jets, Light & Ultralight Aircraft) and Forecast to 2030

The Covid-19 pandemic has affected various industries and businesses across the globe, but the aviation industry is poorly impacted. However, the electric aircraft market is not affected much by the coronavirus pandemic compared to the aviation industry. So, the global market for electric aircraft is projected to rise from $27.7 billion to $7.9 billion by 2030. Militaries widely utilize electrical UAVs for various missions such as border security; governments and law enforcement agencies use them on an experimental basis.

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Depending on the segment, the light and ultralight segment of the Electric Aircraft market is estimated to boost the largest market size. Furthermore, depending on the electric aircraft platform, different technological advancements and modernization are also predicted to increase the demand. In addition, the adoption of Low noise electric UAVs is rising in the military and civil applications that foster the electric aircraft market rise in upcoming years.

Moreover, Retail and other logistics organizations are looking at the utilization of electric UAVs to distribute vital products due to intermittent lockdowns and the social distancing rules worldwide. Civil and commercial applications of electric aircraft include transportation of medical supplies by businesses such as zipline and primarily for aerial photography. Whereas in developed countries like the US, eCommerce companies like Amazon and USP have already raised their utilization of electric drones for their deliveries. Electric drones are also experiencing a rising application in Africa. They are being used as the art of EMS services to supply medicines and amenities and transport organs and blood across cities. These factors have helped the electric aircraft market to sustain the overall impact of the COVID-19 pandemic on the global economy aircraft for cargo applications and different aerial mission-specific activities.

Depending on the system, the battery segment is predicted to increase at the highest CAGR value for the electric aircraft market during the estimated period. Batteries are the most common onboard energy storage components of electric aircraft due to their relatively high storage capacity. Furthermore, modern batteries are mostly rechargeable and are lithium-based. Therefore, advancements in battery power density would be the driving factor for this segment.

Depending upon the type, the evolution in the complexity of the mission of both military aircraft markets during the estimated period. In addition, limited runways will lead to increasing adoption of these wing types. Based on the technology, the VTOL segment is estimated to grow at the highest CAGR value for the aircraft landing gear market during the forecast period. Most of the civil eVTOL aircraft are designed for urban air mobility, air taxis, medical assistance, and personnel passenger transportation.

The Electric Aircraft market in North America is projected to hold the highest market share during the forecast period. North America accounted for the largest share of 34.3% of the electric aircraft market and is expected to grow at a CAGR of 16.1% during the forecast period. The US has the largest UAV fleet used in military and civil applications. In addition, the early adoption of electric aircraft for urban air mobility is also being witnessed in the US. These factors are expected to drive the market in North America.

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An electric aircraft is an aircraft powered by electricity, nearly always via one or further electric motors which drive propellers. Electricity may be supplied by a variety of styles, the most common being batteries or solar cells.

Electrically powered model aircraft have been flown at least since the 1970s and were the forerunners of the small unmanned upstanding vehicles (UAV) or drones, which in the twenty-first century have come extensively used for numerous purposes.

Although crewed breakouts in an electrically-powered tethered copter go back to 1917 and in airships to the former century, the first crewed free flight by an electrically powered airplane, the MB-E1, wasn't made until October 1973 and most crewed electric aircraft moment are still only experimental prototypes. Between 2015 and 2016, Solar Impulse 2 completed a circumnavigation of the Earth using solar power. More lately, interest in electric passenger aircraft has grown, for both marketable airliners and particular air vehicles.

Masterminds are presently trying to make a 180- seat completely electric spurt that can fly for around 500 km. The budget airline EasyJet has partnered with the aeronautics start-up Wright Electric to design and develop such a prototype aeroplane that, if successful, could enter marketable service as early as 2030. Its trip routes would be limited – Paris to London for case, not much farther – but narrow- body aircraft that fly short- haul routes of km or lower make up around a third of aeronautics emigrations, according to operation advisers Roland Berger. By gradationally introducing electric aeroplanes that could replace conventional aircraft on these short- hop passages, the environmental impact of flying could be significantly bettered.

It could n’t come too soon because, as Roland Berger also notes, aeronautics is the only major assiduity in the EU in which CO2 emigrations are adding significantly. While the assiduity accounts for just 3 of global CO2 emigrations moment, by 2050 marketable aircraft could be churning out up to 24 of worldwide emigrations due to prognosticated growth in the sector.

Flying completely electric 180-seater aircraft commercially by 2030 is “ veritably ambitious”, says Robert Thomson, a mate at Roland Berger. The further sober view is that by 2030 we will more likely see cold-blooded electric aircraft being rolled out. In these aeroplanes, propulsion is handed by batteries and electric motors alongside traditional combustion systems. “ A 50-seater aircraft would come feasible as a mongrel, perhaps 2030, late 2020s – I suppose that’s the kind of timescale which is presumptive,” says Thomson.

Breakdown Primaries:

By Region: North America–55%; Europe–27%; Asia Pacific–9%; and Rest of the World–9%
By Company Type: Tier 1–49%; Tier 2–37%; and Tier 3–14%
By Designation: C Level–55%; Directors–27%; and Others–18%

The prominent players operating in the electric aircraft market are Airbus SE (Netherlands), AeroVironment, Inc (US), Elbit Systems Ltd (Israel).

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This release was published on openPR.