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eVTOL Aircraft Market worth $17.34 Billion by 2035, at a CAGR of 27.6%
eVTOL Aircraft Market
The report "eVTOL Aircraft Market [https://www.marketsandmarkets.com/Market-Reports/evtol-aircraft-market-28054110.html?utm_source=abnewswire.com&utm_medium=PaidPR&utm_campaign=eVTOLaircraftmarket] by Lift Technology (Vectored Thrust, Multirotor, Lift Plus Cruise), Propulsion Type (Fully Electric, Hybrid, Hydrogen), Application (Air Taxi, Air Metro), System, Mode of Operation, MTOW, Range and Region - Global Forecast to 2035" The eVTOL Aircraft market is valued at USD 0.76 billion in 2024 and is projected to reach USD 4.67 billion by 2030, at a CAGR of 35.3 % from 2024 to 2030 and is projected to grow from USD 6.53 billion in 2031 to USD 17.34 billion by 2035 at a CAGR of 27.6 % from 2031 to 2035.
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Browse 403 market data Tables and 71 Figures spread through 398 Pages and in-depth TOC on "eVTOL Aircraft Market"
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The eVTOL market in electric Vertical Take-Off and Landing aircraft represents a paradigm shift in aviation: cutting-edge technology, environmental sustainability, and innovation in mobility. It is expected to transform how people and goods move, particularly in urban and regional environments, with zero-emission, efficient, and flexible transport solutions.
Driving demand for eVTOL Aircrafts is the urgency to reduce the congestion of the city, and increase demand in sustainable transportation solutions, improve systems of electric propulsion, battery technologies, and the autonomous flight. Among the key applications are urban air mobility (UAM) or passenger air taxi, intercity transportation, cargo, and emergency such as air ambulance and disaster rescue.
Advancements in vertiport infrastructure, urban air traffic management systems, and regulatory frameworks by authorities such as the FAA and EASA all support global adoption. Companies leading the charge in commercializing eVTOLs for real-world operations include Joby Aviation, Archer Aviation, Lilium, and Volocopter.
Based on System, the aerostructure segment is estimated to account for the largest share in the eVTOL Aircraft market from 2024 to 2035.
The aerostructure segment will dominate the eVTOL aircraft market due to its major role in determining the structural integrity, performance efficiency, and overall structure of the eVTOLs. Aerostructures are simply the aircraft fuselage, wings, rotor mounts, and landing gear, which are an essential feature of any eVTOL design. These parts are considered essential in providing the structural framework needed to support propulsion systems, batteries, and payloads while also enhancing aerodynamic efficiency and safety.
The demand for carbon composites and advanced alloys in eVTOL's lightweight, high-strength materials market is driving aerostructure design innovations. Lightweight aerostructures represent the key in reducing overall aircraft weight, which maximizes the efficiency of its battery and gives it an extended range-a critical feature for the success of eVTOLs. Aerostructures become even more precise in their designs as eVTOL designs adopt features such as vectored thrust, lift-plus-cruise, and hybrid propulsion systems and are required to manage complex flight dynamics and meet safety requirements.
Based on Application, the Air Taxi segment is estimated to account for the largest share of the eVTOL Aircraft market from 2024 to 2035.
The eVTOL aircraft market is expected to be headed by the air taxi segment because it has the disruptive potential to serve as a revolutionary solution that can address urban congestion and reduce travel times while offering a sustainable alternative to traditional transportation. Air taxis are for short to medium-range commutes in urban and regional areas, connecting points between city centers, airports, and suburban areas and hence the best way to handle the ever-rising traffic challenges witnessed in populous cities such as Los Angeles, Paris, and Singapore.
Advances in electric propulsion systems are currently driving the market for air taxi, which promise quiet, zero-emission flight-a key requirement for urban air mobility (UAM). With their focus on safety, efficiency, and convenience, air taxis can revolutionize how people commute into cities, fly for business, and travel as tourists.
Based on Range,
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