Press release
eVTOL Market to Reach US$3.2 Billion by 2040, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.
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Market Statistics
• Market size: US$0.06 billion in 2024
• Forecast value: US$3.2 billion by 2040
• CAGR: 28.4% (2025-2040)
• Forecast period: 2025-2040
• Base year: 2024
• Total number of segments: 4
• Tables & figures: 100+
• Country-Level Market Assessment: 20
Market Segmentation
• By Configuration Type: Vectored thrust, Lift + Cruise, Multirotor/Wingless
• By Application Type: Passenger, Cargo, Other Applications
• By Seating Capacity Type: 1-Seater, 2-Seater, 3-Seater, 4-Seater, 5-Seater, 5+ Seater, Cargo
• By Region: North America, Europe, China, Rest of Asia-Pacific, Rest of the World
Segment Analysis
Within Configuration Type, the Multirotor/Wingless segment dominates the eVTOL market, as these designs are currently best suited for short-range urban operations and early commercial deployments. However, Vectored thrust and Lift + Cruise configurations are expected to grow faster as operators seek longer range and enhanced speed capabilities for expanded use cases, indicating that manufacturers focusing on advanced designs will gain competitive advantage.
Across Application Type, Passenger applications hold the largest share due to initial commercial interest in urban air taxi services and mobility solutions, while the Cargo segment is poised for rapid growth as logistic use cases emerge and increase demand for aerial freight solutions, presenting strategic opportunities for companies targeting cargo-focused eVTOL models.
In Seating Capacity Type, mid-range aircraft such as 2-Seater and 5-Seater models are among the most attractive categories , balancing revenue potential with operational feasibility. As demand for passenger and cargo eVTOL services rises, providers offering a diversified portfolio of seating configurations can capture broader market segments.
Regional Insights
North America leads in market value driven by substantial order books from established OEMs and supportive investment environments that foster commercialization of eVTOL programs. The presence of major manufacturers and advanced certification progress underscores strategic growth prospects for suppliers and operators in this region.
China is a fast-growing region with strong momentum in eVTOL deliveries and orders, backed by government initiatives to develop a "low-altitude economy" and expand urban air mobility infrastructure, making it a key frontier for eVTOL adoption and strategic investment.
Market Drivers
• Government push for sustainable transportation to reduce emissions.
• Rising urban population and traffic congestion driving alternative mobility solutions.
• Pre-orders and commercialization readiness of leading eVTOL programs.
• Technological advancements in electric propulsion and materials.
• Emerging cargo and specialty applications expanding demand beyond passenger use cases.
Top Companies in the Market
• EHang
• Joby Aviation, Inc.
• Archer Aviation
• Autoflight
• Eve Air Mobility
• Xpeng AeroHT
• Vertical Aerospace Ltd.
• Elroy Air
• Volant Aerotec
FAQs
1. What will the global eVTOL market size be in 2040?
The eVTOL market is forecast to reach US$3.2 billion by 2040, supported by rapid growth in urban air mobility solutions.
2. Which eVTOL configuration type is currently dominant?
Multirotor/Wingless configurations currently dominate due to their suitability for short-range urban operations and early adoption.
3. Which application segment is expected to grow fastest in the eVTOL market?
Cargo applications are expected to witness significant growth as logistic use cases expand beyond passenger transport.
4. Which region leads the eVTOL market in value?
North America leads the market in value due to extensive order books and investment in eVTOL deployments.
5. Why is China considered a key growth region for eVTOLs?
China's government-backed initiatives to develop urban air mobility and expand "low-altitude economy" infrastructure are accelerating eVTOL adoption.
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High performance fluoropolymer market: https://scrapbox.io/researchnews04/Global_High-Performance_Fluoropolymer_Market:_Trends,_Drivers,_and_Future_Opportunities
Hollow concrete block market : https://velog.io/@ellam66/Rising-Urbanization-Boosts-Demand-for-Hollow-Concrete-Blocks
Hydroxyapatite market : https://logcla.com/blogs/1173098/Hydroxyapatite-Market-Advancing-Biocompatible-Solutions-for-Medical-and-Dental-Applications
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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