Electric Aircraft Market to Reach $23.5 Billion by 2031, Says Allied Market Research

𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜 𝐀𝐢𝐫𝐜𝐫𝐚𝐟𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 by Takeoff Type (Conventional Takeoff and Landing, Short Takeoff and Landing, Vertical Takeoff and Landing), by Component (Batteries, Electric Motors, Aerostructures, Avionics, Others), by End Use (Commercial, Military), by Platform (Fixed Wing, Rotary Wing): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global electric aircraft industry generated $8.5 billion in 2021, and is anticipated to generate $23.5 billion by 2031, witnessing a CAGR of 10.9% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/5502

The increase in environmental concerns, technological advancement in batteries and electric propulsion systems, rise in demand for short range regional routes, and surge in efforts to reduce overall carbon footprint and operational cost of aviation industry drive the growth of the global electric aircraft market. However, several challenges such as the requirement of large and bulky batteries to generate required power, the need to charge the aircraft frequently before scheduled flight path, and limited infrastructure capabilities restrict the market growth. Moreover, the rise in efforts by major companies across the globe to develop electric aircraft capabilities, supported by their research and development budgets, is presenting new opportunities in the coming years.

𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

Joby Aviation, Ampaire Inc., ZeroAvia, Elbit Systems Ltd., EHang Holdings Ltd., Duxion, Airbus, Wright Electric, Inc., Rolls Royce Plc, Embraer SA, Eviation, lilium, AeroVironment, Inc., PIPISTREL d.o.o., VOLOCOPTER GMBH

Aerostructures are one of the most crucial components of electric aircraft. The efficiency of electric propulsion system coupled with aerodynamics of an aircraft will play a major role in deciding the flight length of an aircraft. New design concepts and innovation in manufacturing technologies to manufacture aircrafts with improved aerodynamics is one of the major factors supporting the market growth.

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

Based on takeoff type, the vertical takeoff and landing segment held the highest market share in 2021, accounting for nearly half of the global electric aircraft market, and is estimated to maintain its leadership status throughout the forecast period. Increase in requirement of drones for commercial and non-commercial market support the growth of the VTOL segment in the electric aircraft market. Moreover, integration of electric propulsion system in helicopters and tiltrotors further support business opportunities within the segment. However, the conventional takeoff and landing segment is projected to manifest the highest CAGR of 12.5% from 2022 to 2031, due to rise in demand for small and regional aircraft to cater tourism and private aerial operations.

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly one-third of the global electric aircraft market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 12.3% from 2022 to 2031, 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.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/5502

The report provides a detailed analysis of these key players of the global electric aircraft market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Aircraft Engines Market - https://www.alliedmarketresearch.com/aircraft-engines-market

Aircraft Fuel Systems Market - https://www.alliedmarketresearch.com/aircraft-fuel-systems-market

Aircraft Manufacturing Market - https://www.alliedmarketresearch.com/small-drones-market

Commercial Satellite Imaging Market - https://www.alliedmarketresearch.com/commercial-satellite-imaging-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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.