UAV Drone IndustryGlobal eVTOL Aircraft Market Projected to Grow at a CAGR of

July 19, 2021by helo-10

New York, USA, July 14, 2021 (GLOBE NEWSWIRE) — As per a latest report published by Research Dive, the global eVTOL aircraft market is projected to register a revenue of $4,222.4 million at a CAGR of 31.1% during the forecast period from 2026 to 2033, increasing from $458.0 million in 2025. The comprehensive report provides a brief summary of the current market scenario including major aspects of the market such as growth factors, challenges, restraints, and numerous growth opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.

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Market Dynamics

As per the analysts of Research Dive, the rapid growth in urban population along with the increase in traffic congestion around the world are the significant factors expected to propel the growth of the global eVTOL aircraft market during the analysis period. Moreover, the rising demand for air mobility in medical emergencies is projected to create huge growth opportunities for the global market by 2033. However, the higher investment cost investment in infrastructure and R&D, and the lack of 5G infrastructure across the globe are estimated to hinder the market growth in the coming years.

Impact of COVID-19 on the Market

The COVID 19 pandemic has unfavorably impacted the global eVTOL aircraft market. This is mainly due to the disruption of supply chain resulting in delaying in the eVTOL aircraft projects. Many companies operating in the eVTOL aircraft industry such as Airbus and Ehang are coming forward with strategic steps to sustain their losses and help society during the unprecedented crisis. For example, EHang, the leading eVTOL aircraft companies have come forward to help China during the pandemic by providing medical supplies to local hospitals with their eVTOL drones.

Vectored Technology Sub-segment to Observe Significant Growth

By technology type, the vectored technology sub-segment is estimated to grow at significant rate and garner a revenue $1,208.5 million over the forecast period. The significant growth of this sub-segment can be attributed to its unmanned aerial technology and most its advanced autopilot feature. In addition, vectored eVTOL aircrafts can control angular velocity and are therefore developed for military and security missions.

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Optionally Piloted Sub-segment to Hold the Largest Market Share

By mode of operation, the optionally piloted sub-segment is expected to value for $301.6 million by 2025 and hold the majority of market share by 2033. This is primarily owing to the constant advancements in the unmanned aerial technologies for safer and faster delivery. In addition, the increasing transport services is boosting the demand for optionally piloted eVTOL aircraft.

0 to 200 Kilometers Sub-segment to be Most Profitable

By range, the 0 to 200 kilometers sub-segment is projected to dominate in terms of market share by 2033 and generate $3,330.1 million in the analysis period. This is mainly due to the growing demand for short-range aircraft as it can offer multiple benefits such as flexibility, fast travel, smooth operations, and lesser air pollution.

Commercial Sub-segment to Witness Fastest Growth

By application, the commercial sub-segment is expected to grow at the fastest rate and generate a revenue of $2,548.8 million by 2033. The safe transportation mode of commercial eVTOL aircrafts in urban air mobility is the major factor predicted to drive the sub-segment’s market growth.

250-500 Kilogram Sub-segment to Observe Considerable Growth

By payload, the 250–500 Kilogram sub-segment is expected to experience considerable growth and garner a revenue of $2,197.9 million by 2033. This is mainly because eVTOL aircrafts are highly suitable for cargo transport purposes. In addition, technological advancements in eVTOL aircrafts by leading manufacturers is driving the sub-segment’s growth.

Electric/Hybrid Sub-segment to be Most Lucrative

By propulsion, the electric/hybrid sub-segment is predicted to witness fastest growth and generate a revenue of $941.1 million by 2033, owing to its benefit of providing sufficient power during operational conditions. This benefit plays a vital role in manufacturing eco-friendly aircraft which also protects the environment from releasing harmful gases.

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North America Region to Dominate the Market

By region, the North America market for eVTOL aircraft is projected to account for $126.9 million in 2025 and is projected to dominate in the global industry over the forecast period. The dominance of this region can be attributed to technological advancements towards air mobility solutions along with heavy investments by key market players. Besides, increasing support of governments in eVTOL aircraft production is likely to upsurge the demand for eVTOL aircrafts in the North America region.

Prominent Market Players

The report presents several aspects of these major players such as business & financial performance, strategic moves by key players, latest developments, product portfolio, and SWOT analysis. Some of the top players of the global eVTOL aircraft industry are:

  1. eHang
  2. Airbus S.A.S.
  3. Lilium GmbH
  4. Aurora Flight Sciences
  5. Volocopter GmbH
  6. Bell Textron Inc.
  7. Workhorse
  8. Kitty Hawk
  9. Karem Aircraft, Inc.
  10. Pipistrel D.O.O.

These players are implementing numerous strategies to gain a leading position in the global industry.

For instance, in June 2021, EHang, the China-based urban air mobility (UAM) company, announced the launch of its new VT-30 ‘long-range’ autonomous eVTOL aircraft that features eight propellers on each side, fly-by-wire control system, and a pusher prop. According to the company, the expected range of VT-30 is up to 300 km (162 NM), and this aircraft is designed for travel between cities.

In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status – Inquire to Get access for Detailed Top Companies Development Strategy Report

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