Press release
eVTOL Aircraft Market Competitive Research, Industrsy Status, Key Drivers And Forecast To 2033
eVTOL Aircraft Market Analysis
The Business Research Company offers in-depth market insights through eVTOL Aircraft Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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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Market Segmentation:
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
Major Driver - Growing Demand For Evtol Aircraft In Cargo Applications Drives Market Expansion
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.
Competitive Landscape:
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.
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Top Trend - Technological Advancements Elevate The Evtol Aircraft Market Landscape
Technological advancement is a key trend gaining popularity in the eVTOL aircraft market. Major companies operating in the eVTOL aircraft market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation eVTOL aircraft technologies into their services, such as IoT, ultra-edge hydrogen and battery cells, Onboard sensors and collision prevention systems, AI technology, 5G communication, and others. For instance, In April 2022, Hyundai, an automotive manufacturer company, explored hydrogen fuel cell technology for the electric short Take-off and landing eVTOL aircraft segment. The company expects hydrogen fuel cell technology to have a long enough range to complete intercity trips.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. eVTOL Aircraft Market Characteristics
3. eVTOL Aircraft Market Trends And Strategies
4. eVTOL Aircraft Market - Macro Economic Scenario
5. eVTOL Aircraft Market Size And Growth
…..
27. eVTOL Aircraft Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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