[Research Report] The eVTOL aircraft market is expected to grow from US$ 519.81 million in 2024 to US$ 1,756.28 million by 2028; it is expected to grow at a CAGR of 35.6% from 2024 to 2028.
Based on region, the global eVTOL aircraft market is segmented into North America, Europe, Asia Pacific, and the Rest of World. In 2024, Europe is expected to lead the market with a substantial market share, followed by North America. Further, North America is expected to register the highest CAGR in the market from 2024 to 2028.
The eVTOL aircraft market is in the development phase in the European countries; however, the leading companies are strategically working to leverage the market dynamics. For instance, Volocopter GmbH, a German aircraft manufacturer and a leading pioneer of urban air mobility (UAM), had planned to launch the world’s first-ever eVTOL suite of services with the help of passenger air taxis and heavy-lift cargo drones between 2024 and 2026. Also, in March 2022, Jetex and Volocopter signed a strategic partnership agreement to define a safe and sustainable model of urban air mobility. The partnership was established to deploy and operate permanent, economically sustainable, and integrated UAM taxi takeoff and landing infrastructure and services for passenger transportation.
North America is expected to be the fastest-growing region in the global eVTOL aircraft market during the forecast period, according to the market analysis. This is owing to the presence of many eVTOL companies in the region that include vendors such as Archer Aviation, Alakai Skai, Opener Aero, BETA Technologies, Gravitas, Joby Aviation, Wisk Aero LLC., Jaunt Air Mobility, Kittyhawk, and Bell Textron Inc. The eVTOL aircraft market is in the development phase and is expected to grow in the coming years in North America, owing to a rising number of investments and strategic initiatives from key players in the eVTOL aircraft industry. For instance, in February 2021, United Airlines and Archer Aviation announced a partnership to leverage the international carrier's aviation experience. As per the partnership, United Airlines would purchase 200 eVTOL aircraft from Archer. In addition, in June 2021, Vertical Aerospace announced deals worth US$ 4 billion with American Airlines, Virgin Atlantic, and leasing group Avolon for up to 1,000 of its VA-X4 eVTOL aircraft.
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eVTOL Aircraft Market: Strategic Insights
Market Size Value in US$ 519.81 Million in 2024 Market Size Value by US$ 1,756.28 Million by 2028 Growth rate CAGR of 35.6% from 2024 to 2028 Forecast Period 2024-2028 Base Year 2024
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– eVTOL Aircraft Market
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eVTOL Aircraft Market: Strategic Insights
| Market Size Value in | US$ 519.81 Million in 2024 |
| Market Size Value by | US$ 1,756.28 Million by 2028 |
| Growth rate | CAGR of 35.6% from 2024 to 2028 |
| Forecast Period | 2024-2028 |
| Base Year | 2024 |
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Impact of COVID-19 Pandemic on eVTOL Aircraft Market
The overall impact of the COVID-19 pandemic on the aviation industry is severe. The global aviation industry is expected to lose ~US$ 200 billion from 2020 to 2022. The impact of the pandemic has led to declined aircraft production, disrupted supply chain during the FY 2020, postponement of new orders, transportation challenges for sourcing materials or parts, and labor challenges for the aviation industry vendors. This had also adversely affected the eVTOL industry. As the eVTOL industry is still in its development phase and is required to have a rising economic growth to sustain the developments across the eVTOL industry, the ongoing projects such as testing, certification, and production of prototypes have been severely impacted during the pandemic.
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Market Insights – eVTOL Aircraft Market
Europe leads in the adoption of eVTOL aircraft, technological advancements, and expenditure on eVTOL technologies. This is primarily driving the eVTOL aircraft market growth. The European eVTOL aircraft market has started witnessing rapid recovery for its development. Companies such as Lilium and Volocopter have also witnessed a rising number of pre-orders expected to increase the market size once it is commercialized. For instance, in 2021, Lilium announced that it had already secured a contract worth US$ 1 billion wherein the company is about to provide 220 units of its 5-seater eVTOL aircraft to Luxaviation Group. Moreover, in 2022, Lilium got another pre-order of 150 six-passenger jets that NetJets will provide in the coming years. The lockdown further discontinued the eVTOL aircraft and its prototype production and testing from 2020 to 2021. However, in contrast to the factors mentioned above, the European eVTOL aircraft market players managed to acquire contracts related to eVTOL aircraft development from investors and partners across the region. This further enabled the market players to generate revenues, perform various flight tests and contribute to the eVTOL aircraft market development.
The eVTOL aircraft market is segmented into lift technology, propulsion type, application, and operation mode. Based on lift technology, the eVTOL aircraft market is segmented into multirotor, lift plus cruise, vectored thrust, and others. Based on propulsion type, the market is segmented into hybrid, fully electric, and electric hydrogen. Based on application, the market is categorized into air taxi; cargo transport; last mile delivery; critical missions; inspection, surveying, and mapping; and others. Based on operation mode, the eVTOL aircraft market is segmented into piloted, optionally piloted, and autonomous.
Airbus (The Netherlands), Bell Textron Inc. (US), Boeing (US), Eve Air Mobility (Brazil), Lilium GmbH (Germany), Opener (US), EHang (China), BETA Technologies (US), Pipistrel Group (Slovenia), Volocopter GmbH (Germany), Joby Aviation Inc. (US), Heart Aerospace (Sweden), and Archer Aviation Inc. (US) are among the players profiled during the study of the eVTOL aircraft market.
The eVTOL aircraft market players are mainly focused on the development of advanced and efficient products, mergers, and partnerships.
- In 2022, Thales partnered with Eve for eVTOL development. Thales announced to support the development of its eVTOL aircraft in Brazil. The strategic partnership involves a series of joint studies over a twelve-month period, which started in January 2022, on the technical, economic, and adaptable feasibility of a 100% electrically powered aircraft.
- In 2021, Heart Aerospace partnered with Arennova Aerospace S.A. to co-design the structure for the new ES-19 electric aircraft – an all-electric aircraft designed to carry nineteen passengers on short regional routes. Aernnova Aerospace S.A. will work with Heart's engineers in designing the wing, the fuselage, and the empennage.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Lift Technology, Propulsion Type, Application, and Operation Mode
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Canada, China, France, Germany, Italy, Japan, MEA, Russian Federation, SAM, South Korea, United Kingdom, United States
Frequently Asked Questions
The estimated global market size for the eVTOL aircraft market in 2024 is expected to be around US$ 519.81 million
Adoption of air taxis due to development of urban air mobility
Development of electric propulsion-based eVTOL aircraft
Emerging need for green energy-based mode of transportation
Lilium GmbH, EHang, Eve Air Mobility, Joby Aviation, and Volocopter GmbH are the key market players expected to hold a major market share of eVTOL aircraft market in 2024
North America is expected to register highest CAGR in the eVTOL aircraft market during the forecast period (2024-2028)
Germany, US, and France are expected to register high growth rate during the forecast period
The US is expected to hold a major market share of eVTOL aircraft market in 2024
Piloted segment is expected to hold a major market share of eVTOL aircraft market in 2024
The global market size of eVTOL aircraft market by 2028 will be around US$ 1,756.28 million
The eVTOL aircraft market is expected to register an incremental growth value of US$ 1,236.46 million during the forecast period
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. eVTOL Aircraft Market Landscape
4.1 Market Overview
4.2 Porter’s Five Force Analysis
4.2.1 Bargaining Power of Buyers
4.2.2 Bargaining Power of Suppliers
4.2.3 Threat to New Entrants
4.2.4 Threat to Substitutes
4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. eVTOL Aircraft Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Adoption of Air Taxis due to Development of Urban Air Mobility
5.1.2 Development of Electric Propulsion-Based eVTOL Aircraft
5.2 Market Restraints
5.2.1 Certification and Qualification Challenges for Market Vendors
5.3 Market Opportunities
5.3.1 Demand for Last-Mile Delivery
5.4 Market Trends
5.4.1 Emerging Need for Green Energy-Based Mode of Transportation
5.5 Impact Analysis of Drivers and Restraints
6. eVTOL Aircraft Market – Global Market Analysis
6.1 eVTOL Aircraft Market Overview
6.2 eVTOL Aircraft Market Forecast and Analysis
6.3 Market Positioning – Global Key Players
7. eVTOL Aircraft Market Analysis – by Lift Technology
7.1 Overview
7.2 Multirotor
7.2.1 Overview
7.2.2 Multirotor: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
7.3 Lift Plus Cruise
7.3.1 Overview
7.3.2 Lift Plus Cruise: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Vectored Thrust
7.4.1 Overview
7.4.2 Vectored Thrust: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
8. eVTOL Aircraft Market Analysis – by Propulsion Type
8.1 Overview
8.2 Hybrid
8.2.1 Overview
8.2.2 Hybrid: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
8.3 Fully Electric
8.3.1 Overview
8.3.2 Fully Electric: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Electric Hydrogen
8.4.1 Overview
8.4.2 Electric Hydrogen: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9. eVTOL Aircraft Market Analysis – by Application
9.1 Overview
9.2 Air Taxi
9.2.1 Overview
9.2.2 Air Taxi: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.3 Cargo Transport
9.3.1 Overview
9.3.2 Cargo Transport: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Last Mile Delivery
9.4.1 Overview
9.4.2 Last Mile Delivery: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Critical Missions
9.5.1 Overview
9.5.2 Critical Missions: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Inspection, Surveying and Mapping
9.6.1 Overview
9.6.2 Inspection, Surveying and Mapping: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
10. eVTOL Aircraft Market Analysis – by Operation Mode
10.1 Overview
10.2 Piloted
10.2.1 Overview
10.2.2 Piloted: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
10.3 Optionally Piloted
10.3.1 Overview
10.3.2 Optionally Piloted: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
10.4 Autonomous
10.4.1 Overview
10.4.2 Autonomous: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11. eVTOL Aircraft Market – Geographic Analysis
11.1 Overview
11.2 North America: eVTOL Aircraft Market
11.2.1 North America: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.2.2 North America: eVTOL Aircraft Market, By Lift Technology
11.2.3 North America: eVTOL Aircraft Market, By Propulsion Type
11.2.4 North America: eVTOL Aircraft Market, By Application
11.2.5 North America: eVTOL Aircraft Market, By Operation mode
11.2.6 North America: eVTOL Aircraft Market, by Key Country
11.2.6.1 US: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.2.6.1.1 US: eVTOL Aircraft Market, By Lift Technology
11.2.6.1.2 US: eVTOL Aircraft Market, By Propulsion Type
11.2.6.1.3 US: eVTOL Aircraft Market, By Application
11.2.6.1.4 US: eVTOL Aircraft Market, By Operation Mode
11.2.6.2 Canada: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.2.6.2.1 Canada: eVTOL Aircraft Market, By Lift Technology
11.2.6.2.2 Canada: eVTOL Aircraft Market, By Propulsion Type
11.2.6.2.3 Canada: eVTOL Aircraft Market, By Application
11.2.6.2.4 Canada: eVTOL Aircraft Market, By Operation Mode
11.3 Europe: eVTOL Aircraft Market
11.3.1 Europe: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.3.2 Europe: eVTOL Aircraft Market, By Lift Technology
11.3.3 Europe: eVTOL Aircraft Market, By Propulsion Type
11.3.4 Europe: eVTOL Aircraft Market, By Application
11.3.5 Europe: eVTOL Aircraft Market, By Operation Mode
11.3.6 Europe: eVTOL Aircraft Market, by Key Country
11.3.6.1 Germany: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.3.6.1.1 Germany: eVTOL Aircraft Market, By Lift Technology
11.3.6.1.2 Germany: eVTOL Aircraft Market, By Propulsion Type
11.3.6.1.3 Germany: eVTOL Aircraft Market, By Application
11.3.6.1.4 Germany: eVTOL Aircraft Market, By Operation Mode
11.3.6.2 France: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.3.6.2.1 France: eVTOL Aircraft Market, By Lift Technology
11.3.6.2.2 France: eVTOL Aircraft Market, By Propulsion Type
11.3.6.2.3 France: eVTOL Aircraft Market, By Application
11.3.6.2.4 France: eVTOL Aircraft Market, By Operation Mode
11.3.6.3 Italy: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.3.6.3.1 Italy: eVTOL Aircraft Market, By Lift Technology
11.3.6.3.2 Italy: eVTOL Aircraft Market, By Propulsion Type
11.3.6.3.3 Italy: eVTOL Aircraft Market, By Application
11.3.6.3.4 Italy: eVTOL Aircraft Market, By Operation Mode
11.3.6.4 UK: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.3.6.4.1 UK: eVTOL Aircraft Market, By Lift Technology
11.3.6.4.2 UK: eVTOL Aircraft Market, By Propulsion Type
11.3.6.4.3 UK: eVTOL Aircraft Market, By Application
11.3.6.4.4 UK: eVTOL Aircraft Market, By Operation Mode
11.3.6.5 Russia: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.3.6.5.1 Russia: eVTOL Aircraft Market, By Lift Technology
11.3.6.5.2 Russia: eVTOL Aircraft Market, By Propulsion Type
11.3.6.5.3 Russia: eVTOL Aircraft Market, By Application
11.3.6.5.4 Russia: eVTOL Aircraft Market, By Operation Mode
11.3.6.6 Rest of Europe: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.3.6.6.1 Rest of Europe: eVTOL Aircraft Market, By Lift Technology
11.3.6.6.2 Rest of Europe: eVTOL Aircraft Market, By Propulsion Type
11.3.6.6.3 Rest of Europe: eVTOL Aircraft Market, By Application
11.3.6.6.4 Rest of Europe: eVTOL Aircraft Market, By Operation Mode
11.4 APAC: eVTOL Aircraft Market
11.4.1 APAC: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.4.2 APAC: eVTOL Aircraft Market, By Lift Technology
11.4.3 APAC: eVTOL Aircraft Market, By Propulsion Type
11.4.4 APAC: eVTOL Aircraft Market, By Application
11.4.5 APAC: eVTOL Aircraft Market, By Operation Mode
11.4.6 APAC: eVTOL Aircraft Market, by Key Country
11.4.6.1 China: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.4.6.1.1 China: eVTOL Aircraft Market, By Lift Technology
11.4.6.1.2 China: eVTOL Aircraft Market, By Propulsion Type
11.4.6.1.3 China: eVTOL Aircraft Market, By Application
11.4.6.1.4 China: eVTOL Aircraft Market, By Operation Mode
11.4.6.2 Japan: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.4.6.2.1 Japan: eVTOL Aircraft Market, By Lift Technology
11.4.6.2.2 Japan: eVTOL Aircraft Market, By Propulsion Type
11.4.6.2.3 Japan: eVTOL Aircraft Market, By Application
11.4.6.2.4 Japan: eVTOL Aircraft Market, By Operation Mode
11.4.6.3 South Korea: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.4.6.3.1 South Korea: eVTOL Aircraft Market, By Lift Technology
11.4.6.3.2 South Korea: eVTOL Aircraft Market, By Propulsion Type
11.4.6.3.3 South Korea: eVTOL Aircraft Market, By Application
11.4.6.3.4 South Korea: eVTOL Aircraft Market, By Operation Mode
11.4.6.4 Rest of APAC: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.4.6.4.1 Rest of APAC: eVTOL Aircraft Market, By Lift Technology
11.4.6.4.2 Rest of APAC: eVTOL Aircraft Market, By Propulsion Type
11.4.6.4.3 Rest of APAC: eVTOL Aircraft Market, By Application
11.4.6.4.4 Rest of APAC: eVTOL Aircraft Market, By Operation Mode
11.5 Rest of the World: eVTOL Aircraft Market
11.5.1 Rest of the World: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.5.2 Rest of the World: eVTOL Aircraft Market, By Lift Technology
11.5.3 Rest of the World: eVTOL Aircraft Market, By Propulsion Type
11.5.4 Rest of the World: eVTOL Aircraft Market, By Application
11.5.5 Rest of the World: eVTOL Aircraft Market, By Operation Mode
11.5.6 Rest of the World: eVTOL Aircraft Market, by Key Sub-Regions
11.5.6.1 MEA: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.5.6.1.1 MEA: eVTOL Aircraft Market, By Lift Technology
11.5.6.1.2 MEA: eVTOL Aircraft Market, By Propulsion Type
11.5.6.1.3 MEA: eVTOL Aircraft Market, By Application
11.5.6.1.4 MEA: eVTOL Aircraft Market, By Operation Mode
11.5.6.2 SAM: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
11.5.6.2.1 SAM: eVTOL Aircraft Market, By Lift Technology
11.5.6.2.2 SAM: eVTOL Aircraft Market, By Propulsion Type
11.5.6.2.3 SAM: eVTOL Aircraft Market, By Application
11.5.6.2.4 SAM: eVTOL Aircraft Market, By Operation Mode
12. eVTOL Aircraft Market- COVID-19 Impact Analysis
12.1 Overview
12.2 North America: Impact Assessment of COVID-19 Pandemic
12.3 Europe: Impact Assessment of COVID-19 Pandemic
12.4 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
12.5 Rest of the World: Impact Assessment of COVID-19 Pandemic
13. Industry Landscape
13.1 Overview
13.2 Market Initiative
13.3 New Product Development
13.4 Merger and Acquisition
14. Company Profiles
14.1 Airbus
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Bell Textron Inc.
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Boeing
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Eve Air Mobility
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Lilium GmBH
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Opener
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 EHang
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.8 BETA Technologies
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 Pipistrel Group
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Volocopter GmbH
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
14.11 Joby Aviation Inc.
14.11.1 Key Facts
14.11.2 Business Description
14.11.3 Products and Services
14.11.4 Financial Overview
14.11.5 SWOT Analysis
14.11.6 Key Developments
14.12 Heart Aerospace
14.12.1 Key Facts
14.12.2 Business Description
14.12.3 Products and Services
14.12.4 Financial Overview
14.12.5 SWOT Analysis
14.12.6 Key Developments
14.13 Archer Aviation Inc.
14.13.1 Key Facts
14.13.2 Business Description
14.13.3 Products and Services
14.13.4 Financial Overview
14.13.5 SWOT Analysis
14.13.6 Key Developments
15. Appendix
15.1 About The Insight Partners
15.2 Word Index
LIST OF TABLES
Table 1. eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: eVTOL Aircraft Market, By Lift Technology– Revenue and Forecast to 2028 (US$ Million)
Table 3. North America: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. North America: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 6. North America: eVTOL Aircraft Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 7. US: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 8. US: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. US: eVTOL Aircraft Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 10. US: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 12. Canada: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Canada: eVTOL Aircraft Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 14. Canada: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 15. Europe: eVTOL Aircraft Market, By Lift Technology– Revenue and Forecast to 2028 (US$ Million)
Table 16. Europe: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. Europe: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 18. Europe: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 19. Europe: eVTOL Aircraft Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 20. Germany: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 21. Germany: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 22. Germany: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 23. Germany: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 24. France: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 25. France: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 26. France: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 27. France: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 28. Italy: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 29. Italy: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 30. Italy: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 31. Italy: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 32. UK: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 33. UK: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 34. UK: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 35. UK: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 36. Russia: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 37. Russia: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 38. Russia: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 39. Russia: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 40. Rest of Europe: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 41. Rest of Europe: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 42. Rest of Europe: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 43. Rest of Europe: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 44. APAC: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 45. APAC: eVTOL Aircraft Market, By Propulsion Type– Revenue and Forecast to 2028 (US$ Million)
Table 46. APAC: eVTOL Aircraft Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 47. APAC: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 48. APAC: eVTOL Aircraft Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 49. China: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 50. China: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 51. China: eVTOL Aircraft Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 52. China: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 53. Japan: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 54. Japan: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 55. Japan: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 56. Japan: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 57. South Korea: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 58. South Korea: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 59. South Korea: eVTOL Aircraft Market, By Application– Revenue and Forecast to 2028 (US$ Million)
Table 60. South Korea: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 61. Rest of APAC: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 62. Rest of APAC: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 63. Rest of APAC: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 64. Rest of APAC: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 65. Rest of the World: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 66. Rest of the World: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 67. Rest of the World: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 68. Rest of the World: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 69. Rest of the World: eVTOL Aircraft Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 70. MEA: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 71. MEA: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 72. MEA: eVTOL Aircraft Market, By Application – Revenue and Forecast to 2028 (US$ Million)
Table 73. MEA: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 74. SAM: eVTOL Aircraft Market, By Lift Technology – Revenue and Forecast to 2028 (US$ Million)
Table 75. SAM: eVTOL Aircraft Market, By Propulsion Type – Revenue and Forecast to 2028 (US$ Million)
Table 76. SAM: eVTOL Aircraft Market, Aircraft Type – Revenue and Forecast to 2028 (US$ Million)
Table 77. SAM: eVTOL Aircraft Market, By Operation Mode – Revenue and Forecast to 2028 (US$ Million)
Table 78. List of Abbreviation
LIST OF FIGURES
Figure 1. eVTOL Aircraft Market Segmentation
Figure 2. eVTOL Aircraft Market Segmentation – By Geography
Figure 3. Global eVTOL Aircraft Market Overview
Figure 4. Lift Plus Cruise Segment held the Largest Share of eVTOL Aircraft Market
Figure 5. Fully Electric Segment held the Largest Share of eVTOL Aircraft Market
Figure 6. Air Taxi Segment held the Largest Share of eVTOL Aircraft Market
Figure 7. Piloted Segment held the Largest Share of eVTOL Aircraft Market
Figure 8. North America to Show Great Traction During Forecast Period
Figure 9. eVTOL Aircraft Market– Porter’s Five Forces Analysis
Figure 10. Ecosystem Analysis: eVTOL Aircraft Battery
Figure 11. Expert Opinion
Figure 12. eVTOL Aircraft Market: Impact Analysis of Drivers and Restraints
Figure 13. eVTOL Aircraft Market – Geographic Analysis
Figure 14. eVTOL Aircraft Market Forecast and Analysis (US$ Million)
Figure 15. eVTOL Aircraft Market Revenue Share, by Lift Technology (2024 and 2028)
Figure 16. Multirotor: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Lift Plus Cruise: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Vectored Thrust: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Others: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. eVTOL Aircraft Market Revenue Share, by Propulsion Type (2024 and 2028)
Figure 21. Hybrid: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Fully Electric: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Electric Hydrogen: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. eVTOL Aircraft Market Revenue Share, by Application (2024 and 2028)
Figure 25. Air Taxi: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Cargo Transport: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Last Mile Delivery: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Critical Missions: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Inspection, Surveying and Mapping: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Others: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. eVTOL Aircraft Market Revenue Share, by Operation Mode (2024 and 2028)
Figure 32. Piloted: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. Optionally Piloted: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Autonomous: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Global eVTOL Aircraft Market Revenue Share, by Region (2024 & 2028)
Figure 36. North America: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 37. North America: eVTOL Aircraft Market Revenue Share, By Lift Technology (2024 & 2028)
Figure 38. North America: eVTOL Aircraft Market Revenue Share, By Propulsion Type (2024 & 2028)
Figure 39. North America: eVTOL Aircraft Market Revenue Share, By Application (2024 & 2028)
Figure 40. North America: eVTOL Aircraft Market Revenue Share, By Operation mode (2024 & 2028)
Figure 41. North America: eVTOL Aircraft Market Revenue Share, by Key Country (2024 & 2028)
Figure 42. US: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 43. Canada: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 44. Europe: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 45. Europe: eVTOL Aircraft Market Revenue Share, By Lift Technology (2024 & 2028)
Figure 46. Europe: eVTOL Aircraft Market Revenue Share, By Propulsion Type (2024 & 2028)
Figure 47. Europe: eVTOL Aircraft Market Revenue Share, By Application (2024 & 2028)
Figure 48. Europe: eVTOL Aircraft Market Revenue Share, By Operation Mode (2024 & 2028)
Figure 49. Europe: eVTOL Aircraft Market Revenue Share, by Key Country (2024 & 2028)
Figure 50. Germany: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. France: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. Italy: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 53. UK: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 54. Russia: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 55. Rest of Europe: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 56. APAC: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 57. APAC: eVTOL Aircraft Market Revenue Share, By Lift Technology (2024 & 2028)
Figure 58. APAC: eVTOL Aircraft Market Revenue Share, By Propulsion Type (2024 & 2028)
Figure 59. APAC: eVTOL Aircraft Market Revenue Share, By Application (2024 & 2028)
Figure 60. APAC: eVTOL Aircraft Market Revenue Share, By Operation Mode (2024 & 2028)
Figure 61. APAC: eVTOL Aircraft Market Revenue Share, by Key Country (2024 & 2028)
Figure 62. China: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 63. Japan: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. South Korea: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 65. Rest of APAC: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 66. Rest of the World: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 67. Rest of the World: eVTOL Aircraft Market Revenue Share, By Lift Technology (2024 & 2028)
Figure 68. Rest of the World: eVTOL Aircraft Market Revenue Share, By Propulsion Type (2024 & 2028)
Figure 69. Rest of the World: eVTOL Aircraft Market Revenue Share, By Application (2024 & 2028)
Figure 70. Rest of the World: eVTOL Aircraft Market Revenue Share, By Operation Mode (2024 & 2028)
Figure 71. Rest of the World: eVTOL Aircraft Market Revenue Share, by Key Sub-Regions (2024 & 2028)
Figure 72. MEA: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 73. SAM: eVTOL Aircraft Market – Revenue and Forecast to 2028 (US$ Million)
Figure 74. Impact of COVID-19 Pandemic in North America Country Markets
Figure 75. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 76. Impact of COVID-19 Pandemic in APAC Country Markets
Figure 77. Impact of COVID-19 Pandemic in Rest of the World
The List of Companies - eVTOL Aircraft Market
- Airbus
- Bell Textron Inc.
- Boeing
- Eve Air Mobility
- Lilium GmbH
- Opener
- EHang
- BETA Technologies
- Pipistrel Group
- Volocopter GmbH
- Joby Aviation Inc.
- Heart Aerospace
- Archer Aviation Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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