Press release
Global Personal Air Vehicles (PAVs) Market Projected to Grow at 20.6% CAGR, Reaching $4.12 Billion by 2029
Personal Air Vehicles (PAVs)
What Is the Expected CAGR for the Personal Air Vehicles (PAVs) Market Through 2025?
There has been substantial growth in the market size of personal air vehicles (PAV) in recent times. Estimated to increase from $1.61 billion in 2024, this market is projected to reach $1.95 billion in 2025, registering a compound annual growth rate (CAGR) of 21.0%. This historical growth surge can be linked to several factors; such as the increased exploration of prototype aerial vehicles, heightened understanding of the benefits of traffic decongestion, initiation of government-supported pilot programs, growing partnerships between aviation and technology companies, and an increase in media coverage of urban air mobility ideas.
What's the Projected Size of the Global Personal Air Vehicles (PAVs) Market by 2029?
It is projected that the personal air vehicles (PAVs) market will experience a significant surge in the upcoming years. The market size is forecasted to escalate to $4.12 billion by 2029, growing at a compound annual growth rate (CAGR) of 20.6%. Factors attributing to the growth during the forecast period include the rising demand for pollution-free urban transportation, the growth of the air mobility-as-a-service models, the emergence of battery-powered aerial vehicles, expanding governmental support for air mobility infrastructure, and the growth of urbanization and traffic congestion. The forecast period is also likely to witness major innovation trends such as advancements in autonomous navigation systems, development of vertiport infrastructure in urban settings, the innovation of lightweight composite materials for airframes, emergence of hybrid-electric propulsion models, and progress in real-time air traffic management technologies.
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Top Growth Drivers in the Personal Air Vehicles (PAVs) Industry: What's Accelerating the Market?
The expansion of the market is being driven by a rising demand for aerial transportation, attributed to urban congestion and a surge in air travel.
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What Are the Key Trends Driving Personal Air Vehicles (PAVs) Market Growth?
A key strategy pursued by leading entities in the personal air vehicles (PAVs) sector is the fostering of strategic partnerships to uplift their manufacturing output and intensify the quality of upcoming air mobility solutions. These partnerships effectively merge the talents, resources, and industry-specific knowledge of different organizations, aiming for long-term innovation and market supremacy, rather than fleeting financial victories. As an example, in June 2025, the American aircraft venture AIR, formed a strategic alliance with EDAG Group, a German engineering giant, to construct the primary aircraft structure for AIR's eVTOL model, AIR ONE. The mission is to facilitate highly efficient, top-quality manufacturing for both operator-controlled and automatic models, showcasing a modifiable aluminum frame equipped with features like folding wings and increased cabin space for personal and business utilities. This alliance has expedited the assembly procedures and commercial bulking, marking the initial structures have already been handed over for continuous production and scheduled customer distributions.
What Are the Main Segments in the Personal Air Vehicles (PAVs) Market?
The personal air vehicles (PAVs) market covered in this report is segmented
1) By Product Type: Electric Vertical Take-Off And Landing (eVTOL) Aircraft, Hybrid-Electric Aircraft, Hydrogen-Powered Aircraft
2) By Technology: Autonomous, Semi-Autonomous, Manual
3) By Distribution Channel: Direct Sales, Distributors, Online Platforms
4) By Application: Urban Air Mobility, Emergency Services, Recreational, Other Applications
5) By End-User: Individual Consumers, Commercial Operators, Government Agencies
Subsegments:
1) By Electric Vertical Take-Off And Landing (eVTOL) Aircraft: Multicopper, Lift Plus Cruise, Vectored Thrust
2) By Hybrid-Electric Aircraft: Parallel Hybrid, Series Hybrid, Turboelectric Hybrid
3) By Hydrogen-Powered Aircraft: Hydrogen Combustion Engine, Hydrogen Fuel Cell, Hybrid Hydrogen Systems
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Which Top Companies are Driving Growth in the Personal Air Vehicles (PAVs) Market?
Major companies operating in the personal air vehicles (pavs) market are Hyundai Motor Company, The Boeing Company, Airbus SE, EmbraerX Inc., Moog Inc., Bell Textron Inc., Hanwha Systems Co. Ltd., Aston Martin Lagonda Global Holdings plc, Lilium GmbH, Archer Aviation Inc., Volocopter GmbH, Vertical Aerospace Ltd., SkyDrive Inc., Eve Air Mobility Inc., Opener Inc., PAL-V International B.V., EHang Holdings Limited, Pivotal Aero Inc., Joby Aviation Inc., Samson Sky LLC.
Which Regions Will Dominate the Personal Air Vehicles (PAVs) Market Through 2029?
North America was the largest region in the personal air vehicles (PAVs) market in 2024. The regions covered in personal air vehicles (PAVs) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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