eVTOL Aircraft Market Analysis, Size, Share, Growth, Trends, and Forecasts 2024

Posted by Nita on February 10th, 2021

Global eVTOL Aircraft Market.

Overview

Global eVTOL Aircraft Market is expected to reach USD 4,063.3 Million by 2030 at a CAGR of 30.30% during the forecast period.

The growth of the global eVTOL aircraft market can be attributed to rising traffic congestion and rapid technological advancements. However, safety concerns and limited endurance are expected to restrain the et growth during the forecast period.

Regional Analysis

The geographic analysis of the global eVTOL aircraft market includes North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin Africa.

The market in North America was valued at USD 78.0 Million in 2018. The US and Canada are the country-level markets in North America. The market in the region is expected to reach USD 1,508.3 Million by 2030 at a 29.54% CAGR during the forecast period. This growth can be attributed to the presence of prominent companies such as Aurora Flight Sciences and Workhorse. Furthermore, technological advancements and rising investment by the US Army in the L aircraft market are expected to drive the growth of the market in the region.

Europe accounted for the second-largest share of the market in 2018. The European market includes the UK, Germany, France, Switzerland, Belgium, Bulgaria, Finland, Poland, and the rest of Europe. The increasing investments by prominent automotive OEMs based in the region in developing eVTOL aircraft are driving the et growth. For example, in 2017, Daimler AG invested USD 30 million in Volocopter GmbH to develop a vehicle with an electric powertrain that can carry up to five passengers. Hence, the eVTOL aircraft market in Europe is expected to reach USD 1,141.4 million by 2030 at a CAGR of 30.26% during the forecast period.

Asia-Pacific constituted a large share of the global market in 2018. The market in the region has been divided into China, Japan, India, Australia, Singapore, South Korea, New Zealand, and the rest of Asia-Pacific. The regional market was valued at USD 33.9 million in 2018 and is expected to reach USD 811.0 Million by 2030 at a CAGR of 31.88%. Rapid urbanization, rising disposable incomes, and a focus on drones for transportation are expected to bolster market growth in the region.

The Middle East & Africa accounted for a considerable share of the global market in 2018. The market the region has been segregated into the UAE and the rest of the Middle East & Africa. The regional market was valued at USD 20.4 million in 2018 and is expected to reach USD 434.4 million by 2030 a CAGR of 30.61% during the forecast period. Factors such as high standards of living and a focus on enhancing passenger mobility are creating promising growth avenues for the eVTOL aircraft market in the Middle East & Africa.

In Latin America, the eVTOL aircraft market is expected to reach USD 89.3 million by 2030 a CAGR of 29.78%. The market in the region has been divided into Brazil and the rest of Latin America. Investments by aircraft OEMs in the eVTOL aircraft market are driving the et growth. For example, in 2018 EmbraerX, a subsidiary of Embraer SA, unveiled its eVTOL aircraft at the Uber Elevate Summit.

Segmental Analysis

By range, the market has been segmented into 0–200 km and 200–500 km. The 0–200 km segment dominated the market. The segment was valued at USD 175.1 million in 2018.

Based on the operation, the global eVTOL aircraft market has been divided into piloted and optionally piloted. The piloted segment dominates the global market. It was valued at USD 134.0 million in 2018 and is anticipated to exhibit a CAGR of 28.94% during the forecast period.

In terms of application, the global eVTOL aircraft market has been bifurcated into commercial, cargo, and military. The cargo segment is projected to register the highest CAGR during the forecast period.

Browse Full Report Details @https://www.marketresearchfuture.com/reports/evtol-aircraft-market-7952

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Nita

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Nita
Joined: November 14th, 2019
Articles Posted: 620

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