Global Electric Aircraft Market Grow to USD 37.2 billion in 2030, at a CAGR of 19.8%

The Electric Aircraft market is expected to grow from USD 8.8 billion in 2022 to USD 37.2 billion in 2030, at a CAGR of 19.8% during the forecast period.

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The integration of technologies such as IoT, artificial intelligence, and machine learning has helped increase the efficiency of electric aircraft. With advancements in chemical technologies in the form of lithium/fluorinated carbon (Li/CFx) batteries, manufacturers and innovators have been successful in developing high energy-to-weight ratio aircraft batteries that increase the range of electric aircraft and allow more MTOW. Manufacturers are focusing their R&D efforts on developing electrodes and cell separators that increase the reliability and safety of battery systems for prolonged service life in rigorous environments. The development of integrated battery monitoring systems is a prime example of the advancements and measures undertaken by the aircraft battery industry to ensure the optimal performance of batteries and associated products. These technological advancements will reduce restrictions and challenges related to the adoption of electric aircraft in the future.

Light and Ultralight Segment expected to have larger market share during the forecast period

By platform, light and ultralight segment is expected to have a larger market share during the forecast period. Electric Regional transport aircraft and business jet aircraft are expected to have witness introduction into the market in late 2026 early 2027. Until this period the light and ultralight aircraft like UAVs, General Aircraft, Trainer Aircraft will contribute more to the market. Due to these factors light and ultralight segment would have larger market share during this period.

Rotary Wing segment to dominate the market during the forecast period.

Based on type, rotary wing segment is witnessing largest market share across the forecast period. Major developments are being made in the Rotary wing segment mainly eVTOL aircraft. Rotary wing UAVs are majorly electric in nature and are widely used across many applications in commercial, government and military. With the advent of Urban air travel due to the ease of operation and maneuverability, eVTOLs are the choice of technology that is witnessing larger adoption.

Break-up of profile of primary participants in the Electric Aircraft market:

By Company Type: Tier 1 - 20%, Tier 2 - 55%, and Tier 3 - 25%
By Designation: C Level - 50%, Director Level - 25%, and Others - 25%
By Region: North America -60%, Europe - 20%, Asia Pacific - 10%,South America- 5%, and RoW - 5%

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Major players operating in the electric aircraft market include Airbus SE (France), Eve Air Mobility (Brazil), Joby Aviation (US), Vertical Aerospace (UK), and Lilium N.V. (Germany) among others. These key players offer electric aircraft solutions and services to different key stakeholders.

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This release was published on openPR.