Taking Flight : Exploring the Growth of the Electric Aircraft Market and Sustainable Aviation

According to a new report published by Allied Market Research, titled, "Electric Aircraft Market," The electric aircraft market was valued at $8.50 billion in 2021, and is estimated to reach $23.5 billion by 2031, growing at a CAGR of 10.9% from 2022 to 2031.

North America accounted for a significant share of the global electric aircraft market in 2021. North America includes the U.S., Canada, and Mexico. North America is expected to account for a prominent share of the market owing to presence of significant number of companies in the region. Technological advancement in North America is intended to ensure secure, cost-effective, and efficient channels of electric aircraft manufacturing processes.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/5502

The U.S. has an extensive air transportation network. In 2020, eight of the world's thirty busiest airports by passenger volume were in the U.S. Denver International Airport is the largest U.S. airport by size, covering a surface of 137.26 km² (33,917 acres). Due to the geography of the U.S. and the generally large distances between major cities, air transportation is the preferred method of travel for trips over 300 miles (480 km), such as for business travelers and long-distance vacation travelers, which can be a major driver for the US electric aircraft market.

Significant factors impacting the growth of the electric aircraft market include integration of AI and ML in optimization of power resources, technological innovation to improve the efficiency of aircraft batteries, customer-centric approach, goal to achieve carbon net neutrality, rise in number of electric aircraft vendors across the globe, impact of COVID-19, establishment of regulatory infrastructure, increase in air traffic passengers, inclination of end-user towards human-machine interface, supporting automation, and threat of cybersecurity and data breach.

On the basis of platform, the global electric aircraft market, has been segmented into fixed wing and rotary wing. The rotary wing segment accounted for a significant market share in 2021. The rotary wing segment refers to revenue generated through sales and manufacturing of helicopter, drones and other rotary wing electric aircrafts. The rise in demand to strengthen military forces and increase in application of helicopter in medical, tourism and commercial application support the growth of this segment.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/electric-aircraft-market/purchase-options

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 :

The outbreak of COVID-19 reduced air transport and negatively impacted the aviation industry, which significantly affected the global electric aircraft market. Containment measures and government advice to stay home and airport closures, led to a 22.9% decline in global air traffic in February and a 53.1% decline in March 2020. This amounted to a drop in passenger volume of 620 million in the first quarter of 2020. However, post pandemic, the market is experiencing growth. Some route areas including Europe to Central America, the Middle East to North America, and North America to Central America are above pre-pandemic levels, driving the demand for electric aircrafts.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By takeoff type, the conventional takeoff and landing segment is anticipated to exhibit significant growth in the near future.

By component, the batteries segment is anticipated to exhibit significant growth in the near future.

By end use, the commercial segment is anticipated to exhibit significant growth in the near future.

By platform, the fixed-wing segment is anticipated to exhibit significant growth in the near future.

By region, North America is anticipated to register the highest CAGR during the forecast period.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 : https://www.alliedmarketresearch.com/purchase-enquiry/5502

Key players operating in the global electric aircraft market include 𝐀𝐞𝐫𝐨𝐕𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭, 𝐀𝐢𝐫𝐛𝐮𝐬, 𝐀𝐦𝐩𝐚𝐢𝐫𝐞, 𝐃𝐮𝐱𝐢𝐨𝐧, 𝐄𝐇𝐚𝐧𝐠 𝐇𝐨𝐥𝐝𝐢𝐧𝐠𝐬 𝐋𝐭𝐝., 𝐄𝐥𝐛𝐢𝐭 𝐒𝐲𝐬𝐭𝐞𝐦𝐬 𝐋𝐭𝐝., 𝐄𝐦𝐛𝐫𝐚𝐞𝐫 𝐒𝐀, 𝐄𝐯𝐢𝐚𝐭𝐢𝐨𝐧, 𝐉𝐨𝐛𝐲 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧, 𝐋𝐢𝐥𝐢𝐮𝐦, 𝐏𝐢𝐩𝐢𝐬𝐭𝐫𝐞𝐥 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭, 𝐑𝐨𝐥𝐥𝐬 𝐑𝐨𝐲𝐜𝐞 𝐏𝐥𝐜, 𝐕𝐨𝐥𝐨𝐜𝐨𝐩𝐭𝐞𝐫 𝐆𝐌𝐁𝐇, 𝐖𝐫𝐢𝐠𝐡𝐭 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜, 𝐈𝐧𝐜., 𝐚𝐧𝐝 𝐙𝐞𝐫𝐨𝐀𝐯𝐢𝐚.

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