eVTOL Market Size, Comprehensive Growth with Notable CAGR of 55.25% During the Forecast Period 2024-2031

Global eVTOL Market reached US$ 1.2 billion in 2023 and is expected to reach US$ 40.50 billion by 2031, growing with a CAGR of 55.25% during the forecast period 2024-2031.

The eVTOL market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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A type of aircraft that is powered by electricity and is capable of taking off and landing vertically. eVTOLs are being developed for urban air mobility, offering more sustainable, efficient, and convenient air transportation options.

Forecast Growth Projected:

The Global  eVTOL Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the  eVTOL Market:  Kitty Hawk, Lilium, Ehang, Volocopter GmbH, Beta Technologies, Joby Aviation, Urban Aeronautics Ltd., Airbus SE, Elbit Systems Ltd. and Bell Textron, Inc.

Industry Development:

■ In April 2024, BETA Technologies, Inc. successfully completed early piloted transition flights with its Alia 250 eVTOL prototype, marking a key milestone in demonstrating the transition from vertical to horizontal flight.

■ In April 2024, Guangzhou EHang Intelligent Technology Co. Ltd. achieved a major milestone as its EH216-S unmanned eVTOL aircraft successfully performed its first autonomous flight during the DRIFTx event in Abu Dhabi.

■ In March 2024, Airbus S.E. unveiled its CityAirbus NextGen eVTOL prototype, designed to carry a pilot and three passengers, with a wingspan of 40 feet (12 meters).

Research Methodology:

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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Market Dynamics:

The eVTOL (Electric Vertical Takeoff and Landing) market is driven by the increasing need for urban air mobility solutions to reduce traffic congestion and offer faster, more sustainable transportation. Technological advancements in electric propulsion, battery systems, and automation are key factors fueling market growth. With support from both government and private investments, major aerospace companies and startups are pushing forward with the development of eVTOLs. Additionally, the potential for reducing carbon emissions in transportation is attracting attention, as eVTOLs promise to offer cleaner alternatives to traditional air and ground transport. Regulatory progress, infrastructure development (such as vertiports), and public acceptance will be critical for the market's future success.

Segment Covered in the  eVTOL Market:

➠ By Lift Technology (Vectored Thrust, Multirotor, and Lift Plus Cruise)
➠ By Propulsion (Battery-Electric, Hybrid-Electric, and Hydrogen-Electric)
➠ By System (Batteries & Cells, Electric Motors/Engines, Aero Structures, Avionics, Software, and Others)
➠ By Mode of Operation (Piloted, Autonomous, and Semi-Autonomous)
➠ By Range (0-200 Km, 200-500 Km, and Others), By Maximum Take-off Weight (MTOW) (1500 Kg)
➠ By Application (Commercial [Air Taxi and Delivery Drones], Military [Cargo Transport, Combat Mission, and Others], Emergency Medical Service [Air Ambulance, Medical Cargo Transport, and Others], and Others)

This Report Covers:

✔ Go-to-market Strategy.
✔ Neutral perspective on the market performance.
✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.
✔Customized regional/country reports as per request and country level analysis.
✔ Potential & niche segments and regions exhibiting promising growth covered.
✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for eVTOL Market:

⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of eVTOL market?
➠ Who are the global key manufacturers of the eVTOL Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?
➠ What are the eVTOL market opportunities and threats faced by the vendors in the global eVTOL Industry?
➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?
➠ What focused approach and constraints are holding the eVTOL market?
➠ What are the different sales, marketing, and distribution channels in the global industry?

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