Global Electric Vertical Take-off and Landing Market, By Types (Fixed Wing Aircraft, Helicopters, Cyclocopters, Tiltrotors), Modes (Conventional Take- off and Landing, Short Take-off and Landing, Short Take-off and Vertical Landing), Product Type(Vectored Thrust , Multirotor ), Application (Civil , Military) ) - Industry Trends and Forecast to 2029
Market Analysis and Size
The electric vertical take-off and landing (eVTOL) is being utilized as the next generation of autonomous electric aircraft. This technology provide improved comfort, safety, and reduced noise. eVTOL aircrafts are getting highly popular among urban population.
The aircrafts incorporating eVTOL are specifically designed for cargo deliveries, Military Surveillance and urban air mobility. Global Electric Vertical Take-off and Landing Market was valued at USD 3038.00 million in 2021 and is expected to reach USD 11497.08 million by 2029, registering a CAGR of 18.10% during the forecast period of 2022-2029. Civil accounts for the largest application segment in the respective market owing to the increase in the urban population. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Market Definition
Vertical take- off and landing aircraft is that aircraft that can take- off and land vertically. They are of different types like helicopter, fixed wing aircraft, cyclocopters etc. In military there are mainly two types of VTOL aircraft- tiltrotor and jet thrust. They usually are safe and have efficiency and speed. They are widely used by military due to which this market growing tremendously.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Types (Fixed Wing Aircraft, Helicopters, Cyclocopters, Tiltrotors), Modes (Conventional Take- off and Landing, Short Take-off and Landing, Short Take-off and Vertical Landing), Product Type(Vectored Thrust , Multirotor ), Application (Civil , Military)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
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Market Players Covered
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Lilium (Germany), EHANG (China), Volocopter GmbH (Germany), Airbus S.A.S (Netherlands), TERRAFUGIA (US), Joby Aviation (US), KITTY HAWK (US), PAL-V (US), ICON Aircraft, Inc. (US), DeLorean Motor Company (US), EchoBlue Ltd. (UK), Fehr & Peers (US), and EmbraerX (Brazil), among others
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Market Opportunities
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Electric Vertical Take-off and Landing Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers:
- Demand for Efficient and Effective Mobility
The rise in demand for efficient and effective mobility in urban areas is one of the major factors driving the growth of electric vertical take-off and landing market. Companies and municipal corporations are working on eVTOL aircraft manufacturing for air mobility solutions.
- High Demand from Military
The surge in demand for the electric vertical take-off and landing technology across the military sector across the globe accelerate the market growth.
- Rise in Popularity of Military Vertical Take-Off and Landing (VTOL) Aircraft
The rise in the rise in popularity of military vertical take-off and landing (VTOL) aircraft further influence the market. These possess efficient and lightweight turbofans, and can perform more maneuvers. These aircrafts easily and safely from a base location and transport troops quickly.
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the electric vertical take-off and landing market.
Opportunities
Furthermore, technological advancements in the electric vertical take-off and landing extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, surge in investments will further expand the market.
Restraints/Challenges
On the other hand, heavy weight of electric vertical take- off and landing aircraft is expected to obstruct market growth. Also, cost associated with the maintenance is projected to challenge the electric vertical take-off and landing market in the forecast period of 2022-2029.
This electric vertical take-off and landing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on electric vertical take-off and landing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Covid-19 Impact on Electric Vertical Take-off and Landing Market
The COVID-19 has impacted electric vertical take-off and landing market. The limited investment costs and lack of employees hampered sales and production of electric vertical take-off and landing technology. However, government and market key players adopted new safety measures for developing the practices. The advancements in the technology escalated the sales rate of the electric vertical take-off and landing as it targeted the right audience. The electric vertical take-off and landing market is expected to gain its pace in the post pandemic due to the easing on the restrictions implemented on manufacturing industries.
Recent Developments
- United Parcel Service (UPS) announced the testing of electric vertical take-off and landing aircraft (eVTOLs) for package delivery in April’2022. The company plans to test the 10 Evtol Purchased from Beta Technologies (Beta) for the use in its Express Air Delivery network. These are set to be delivered to UPS in 2024 after receiving the certification from the Federal Aviation Administration (FAA).
Global Electric Vertical Take-off and Landing Market Scope and Market Size
The electric vertical take-off and landing market is segmented on the basis of types, modes, product type and application. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Types
- Fixed Wing Aircraft
- Helicopters
- Cyclocopters
- Tiltrotors
On the basis of types, the electric vertical take-off and landing market is segmented into fixed wing aircraft, helicopters, cyclocopters and tiltrotors.
Modes
- Conventional Take- off and Landing
- Short Take-off and Landing
- Short Take-off and Vertical Landing
On the basis of modes, the electric vertical take-off and landing market is segmented into conventional take- off and landing, short take-off and landing, and short take-off and vertical landing.
Product Type
- Vectored Thrust
- Multirotor
On the basis of product type, the electric vertical take-off and landing market is segmented into vectored thrust and multirotor.
Application
- Civil
- Military
On the basis of application, the electric vertical take-off and landing market is segmented into civil and military.
Electric Vertical Take-off and Landing Market Regional Analysis/Insights
The electric vertical take-off and landing market is analysed and market size insights and trends are provided by country, types, modes, product type and application as referenced above.
The countries covered in the electric vertical take-off and landing market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA).
North America dominates the electric vertical take-off and landing market because of the developed infrastructure within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the rise in disposable income in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Electric Vertical Take-off and Landing Market
The electric vertical take-off and landing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to electric vertical take-off and landing market.
Some of the major players operating in the electric vertical take-off and landing market are:
- Lilium (Germany)
- EHANG (China)
- Volocopter GmbH (Germany)
- Airbus (Netherlands)
- TERRAFUGIA (US)
- Joby Aviation. (US)
- KITTYHAWK (US)
- PAL-V (US)
- ICON Aircraft, Inc. (US)
- DeLorean Motors Reimagined LLC (US)
- EchoBlue Ltd. (UK)
- Fehr & Peers. (US)
- EmbraerX (Brazil)
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