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Global Electric Vertical Take-Off and Landing (eVTOL) Aircraft Market to Reach USD 288.4 Million by 2028, Growing at 21.3% CAGR
Electric Vehicle Take off and Landing Aircraft Market
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According to the United Nations, 68% of the world's population will live in urban areas by 2050, with 90% of this growth occurring in Asia and Africa. This rapid urbanization is expected to significantly boost demand for advanced transportation systems, including eVTOL aircraft, to meet mobility needs in congested cities.
Key Growth Drivers
One of the major factors supporting market growth is the increasing use of eVTOL aircraft in emergency medical services. Their low noise output, electric efficiency, and ability to operate in confined or remote areas make them highly suitable for hospital transfers, isolation zones, and disaster relief operations. The rising incidence of infectious diseases and the growing adoption of rapid-response aerial solutions are further fueling this trend.
Technological advancements and growing investments in research and development are also contributing to market expansion. Leading companies such as NASA, UBER, Airbus, and Boeing are actively developing and testing eVTOL solutions. In November 2020, NASA launched its Advanced Air Mobility (AAM) National Campaign to test future airspace mobility, focusing on safe integration of eVTOLs with existing air traffic systems.
Challenges Facing the Market
Despite strong growth prospects, the eVTOL market faces notable challenges, primarily due to the limitations of current battery technology. Existing batteries often lack the energy density needed for long-range flights or heavy payloads, impacting commercial viability. This limitation affects operational efficiency and remains a key area for innovation.
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Market Segmentation by Propulsion Type
The global eVTOL market is segmented into fully electric, hybrid, and electric hydrogen propulsion types.
Fully Electric eVTOLs are expected to register the fastest growth over the forecast period. These aircraft offer zero emissions, shorter commute times, and environmental benefits. In March 2021, Rolls-Royce announced its role in powering Vertical Aerospace's all-electric eVTOL aircraft, providing the complete electrical propulsion system.
Hybrid eVTOLs combine a small fuel-burning engine with an electric generator to power propulsion systems, supported by batteries during take-off and landing. This hybrid approach enables efficient cruising and greater range. For example, a hybrid eVTOL can travel from London Heliport to Paris Heliport in just 55 minutes, saving up to three hours compared to traditional airline travel.
Future Outlook
With the continued push toward sustainable urban mobility, growing adoption in emergency services, and technological innovation from industry leaders, the eVTOL aircraft market is poised for significant growth in the coming years. Overcoming energy storage challenges will be essential to unlocking the full potential of these aircraft in commercial and passenger transportation.
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Some major players operating in the market are:
Aurora Flight Sciences
A3 By Airbus
Volocopter GmbH
Neva Aerospace Ltd.
Embraer SA
Kitty Hawk Corporation
Joby Aviation
Jaunt Air Mobility
Vertical Aerospace
Urban Aeronautics
Electric Vehicle Take off and Landing Aircraft Market Market Segmentation Analysis
This report offers historical data and forecasts revenue growth at a global, regional, and country level, and provides analysis of the market trends in each segment from 2018 to 2028.
For the purpose of this report, Emergen Research has segmented the global electric vehicle take-off and landing (eVTOL) aircraft market on the basis of lift technology, mode of operation, maximum takeoff weight (MTOW), range, type of propulsion, application, and region:
Lift Technology Outlook (Revenue, USD Million; 2018-2028)
Vectored Thrust
Multirotor
Lift Plus Cruise
Mode of Operation Outlook (Revenue, USD Million; 2018-2028)
Piloted
Optionally Piloted
Maximum Takeoff Weight (MTOW) Outlook (Revenue, USD Million; 2018-2028)
Less than 250 Kg
250 Kg to 500 Kg
500 Kg to 1,500 Kg
Above 1,500 Kg
Range Outlook (Revenue, USD Million; 2018-2028)
0 to 200 KM
200 Km to 500 KM
Type of Propulsion Outlook (Revenue, USD Million; 2018-2028)
Fully Electric
Hybrid
Electric Hydrogen
Application Outlook (Revenue, USD Million; 2018-2028)
Commercial
Military
Cargo
Regional Outlook (Revenue, USD Million; 2018-2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA
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