Taking to the Skies : The Soaring Electric Aircraft Market Forecast, 2021-2031

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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 : 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 : 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.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.