eVTOL Aircraft Market 2024 - In-Depth Trend Analysis, Fueling Industry Growth, Spotlighting Key Players, Exploring Growth Opportunities, and Offering a Forward Outlook By 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the eVTOL Aircraft Global Market Report 2025, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The evtol aircraft market size is expected to see exponential growth in the next few years. It will grow to $28.84 billion in 2028 at a compound annual growth rate (CAGR) of 26.2%. The growth in the forecast period can be attributed to the growing need for green energy and noise-free aircraft, increasing demand for evtol aircraft in cargo applications and the growing urbanization. Major trends in the forecast period include electric propulsion and hydrogen fuel cell technology, use of artificial intelligence, evtol aircraft shuttle, autonomous evtol aircraft, strategic partnership and research and development.

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Key Market Players:

Major companies operating in the evtol aircraft market report are Airbus SE, Textron Inc, Embraer SA, Wisk Aero, Volocopter GmbH, Volkswagen Group China, Zerog, Aerofugia, AutoFlight, TCab, Volant Aerotech, MuYu Aero, Pantuo, Plana, MintAir, Tetra Aviation, SkyDrive, XPeng HT Aero, Vertical Aerospace, Zuri, United Aircraft Corporation, Urban Aeronautics Ltd, Moog Inc, Boeing, Bombardier, McDonnell Douglas, Cessna, Joby Aviation, Lift Aircraft, Neva Aerospace, Uber Technologies Inc, Archer Aviation Inc, Jaunt Air Mobility LLC, Overair Inc.

Market Drivers:

The eVTOL aircraft market is expected to be driven by the increasing demand for eVTOL aircraft in cargo applications in the forecast period. eVTOL aircraft are increasingly being tested to be used for large cargo deliveries to parcel deliveries as they are highly fuel-efficient and faster than ground vehicles. In addition, they cut down logistics costs while reducing delivery lead times, all resulting in a better customer experience. The eVTOL aircraft can also be used to transport essentials such as vaccines, masks and other medical equipment during emergencies. All these factors are expected to drive demand for eVTOL aircraft in the future. For instance, according to an article published in May 2021 by KDC Resource, a UK-based recruiter, companies such as the global logistics and shipping firm, UPS, a UK-based postal service firm of the Royal Mail, and the global e-commerce platform, Amazon, are testing eVTOL technology for logistics applications. The use of eVTOL technology is expected to help deliver to remote locations in much less time than ground transport in the future. Thus, the increasing demand for eVTOL aircraft in cargo applications will drive the market in the forecast period.

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The evtol aircraft market covered in this report is segmented -

1) By Lift Technology: Vectored Thrust, Multirotor, Lift Plus Cruise
2) By Propulsion Type: Fully Electric, Hybrid Electric, Hydrogen Electric
3) By Mode of Operation: Autonomous, Piloted
4) By Application: Air Taxis, Air Shuttles And Air Metro, Private Transport, Cargo Transport, Air Ambulance And Medical Emergency, Last Mile Delivery, Inspection and Monitoring, Surveying and Mapping, Surveillance, Special Mission, Others

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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