Global Personal Air Vehicles Market to Reach USD 732,920 Million by 2031 at 147.6% CAGR Driven by Joby Aviation and Archer Aviation

The global Personal Air Vehicles (PAVs) market is moving rapidly from prototypes into early-stage commercialization. According to QYResearch Global Personal Air Vehicles (PAVs) Sales Market Report, Competitive Analysis and Regional Opportunities 2025-2031, the market size reached US$ 1,367 million in 2024 and is forecast to hit US$ 732,920 million by 2031, representing a CAGR of 147.6% during 2025-2031. Europe remains the largest regional market with approximately 60% share, followed by North America with 30% and Asia-Pacific with 10%. Single-seat aircraft dominate with over 40% share, while commercial use cases account for nearly 95% of total applications.

Over the past two years, several landmark achievements have reshaped the PAV industry. Joby Aviation successfully conducted the first airport-to-airport piloted eVTOL flight in the United States, Archer Aviation carried out its longest piloted mission with Midnight, and PAL-V achieved a decisive certification milestone with EASA for its Liberty FlyDrive vehicle. Meanwhile, Eve secured a new equity raise to finance certification and service development, and Volocopter entered insolvency protection even as it continued piloted validation flights in Europe.

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Leading Companies
Lilium GmbH
Vertical Aerospace
Pipistrel
Opener
Kitty Hawk
Volocopter
AeroMobil
Joby Aviation
Urban Aeronautics
Samson Sky
PAL-V
Hanwha & Overair
Klein Vision
Distar Air
Boeing
Archer Aviation
Eve

Applications
Commercial
Individual

Categories
Five Seats
Four Seats
Double Seats
Single Seat

Latest Market Data
• Market size in 2024: US$ 1,367 million
• Forecast market size in 2031: US$ 732,920 million
• CAGR: 147.6% during 2025-2031
• Regional distribution: Europe ~60%, North America ~30%, Asia-Pacific ~10%
• By type: Single Seat largest with ~40% share
• By application: Commercial use dominates with ~95% share
• Top five global manufacturers: ~70% combined market share

Five Key Products
Joby Aviation - Joby eVTOL (S4)
• 5 seats (1 pilot + 4 passengers) with 6 tilting rotors
• Target cruise speed: ~200 mph (322 km/h)
• Range: up to ~150 miles (241 km)
• Significantly quieter than helicopters
• In 2025, Joby achieved the first airport-to-airport piloted eVTOL flight in the U.S. and delivered its first aircraft for Dubai's exclusive six-year operating agreement
Archer Aviation - Midnight
• 5 seats (1 pilot + 4 passengers)
• Cruise speed: ~150 mph (241 km/h)
• Range: optimized for 20-50 mile city hops
• Payload capacity: ~1,000 pounds
• In 2025, Archer completed its longest piloted flight, 55 miles in 31 minutes, under FAA-controlled airspace
Lilium - Lilium Jet
• Up to 6 passenger seats + 1 pilot
• Ducted fan architecture, premium cabin layout
• Cruise speed: ~280 km/h (175 mph)
• Range: ~250 km (155 miles)
• Orders include 50 firm aircraft from Saudia and 20 from UrbanLink for regional air mobility services
Volocopter - VoloCity
• 2 seats with 18 rotors
• Cruise speed: ~90 km/h (56 mph)
• Range: ~35-65 km (22-40 miles)
• Despite entering insolvency in 2025, Volocopter continues pilot trials in European cities following demonstrations during the Paris Olympics period
PAL-V - Liberty FlyDrive
• 2 seats with dual road and gyrocopter flight capability
• Flight mode: cruise speed ~140-160 km/h; range ~400-500 km
• Drive mode: max speed ~160-170 km/h; range ~1,300 km
• In 2025, PAL-V received EASA's final "No Technical Objection," confirming major progress toward European certification

Downstream Customers
United Airlines
Delta Air Lines
Bristow Group
Saudia Group
UrbanLink Air Mobility
NetJets
Aviterra
American Airlines
Virgin Atlantic
Avolon
Marubeni Corporation
Iberojet
FLYINGGROUP
Japan Airlines
GOL Linhas Aéreas Inteligentes

Market Trend
Certification Progress and Regulatory Clarity
Recent regulatory milestones are accelerating commercialization. The FAA finalized powered-lift rules in 2024 and issued detailed guidance in 2025, clarifying pilot licensing, operations, and certification procedures. In Europe, PAL-V's successful completion of EASA's certification roadmap demonstrates how regulatory agencies are aligning processes to support timely launches.

Infrastructure Development
Infrastructure is advancing from planning to construction. Skyports received approval to build Dubai's first airport-integrated vertiport, and Joby has begun site preparation in partnership with local authorities. In North America, Atlantic Aviation's acquisition of Ferrovial's vertiport assets marks a consolidation trend, embedding vertiports into established airport service ecosystems.

Middle East Leadership
Dubai has positioned itself as a first mover by granting Joby Aviation a six-year exclusive operating license and fast-tracking vertiport construction. This centralized approach, backed by strong government support, is expected to bring commercial PAV services to market in the Middle East before most Western cities.

Airline Integration Models
Airlines are actively partnering with PAV developers. United Airlines has reserved up to 200 aircraft from Archer, Delta is working with Joby for premium hub-to-city connections in New York and Los Angeles, and Saudia has placed firm orders for Lilium Jets. These partnerships extend PAV reach by integrating them into existing loyalty, distribution, and scheduling systems.

Divergence in Financing and Strategy
2025 saw a widening gap between well-capitalized leaders and weaker players. Eve raised US$ 230 million in equity to fund development, while Volocopter entered insolvency despite successful test flights. This split reflects the capital-intensive nature of certification and infrastructure development, where strong balance sheets and strategic partnerships determine survival.

Demonstrated Operational Performance
Archer's 55-mile piloted flight and Joby's airport-to-airport demonstration provide tangible proof that PAVs can integrate into controlled airspace and deliver meaningful routes. These achievements move the industry from speculative projections to operational validation.

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Expanding Beyond Air Taxi
While commercial passenger flights remain the core application, alternative markets are gaining traction. Bristow is exploring PAVs for emergency medical services, NetJets has placed options for premium private aviation use, and PAL-V's Liberty FlyDrive positions PAVs as dual-use vehicles for business executives and private owners. This diversification broadens demand while improving utilization rates.

Conclusion
With the market projected to grow nearly 500 times in value by 2031, 2025 is shaping up as a turning point where prototype flights give way to pilot operations and regulatory structures converge. Leaders like Joby, Archer, and Lilium are demonstrating performance under real-world conditions, airlines are embedding PAVs into network strategies, and regions like Dubai are accelerating infrastructure deployment. Meanwhile, capital constraints are forcing consolidation, ensuring only the strongest players will capture share in this transformative transportation market.

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of the product manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Sales, revenue of the product in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.

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