Electric (Evtol) Aircraft Market Size To Reach USD 31,497.0 Million In 2032

2025-04-10 02:13:30

(MENAFN- Market Press Release) April 8, 2025 1:46 am - The Electric (eVTOL) Aircraft market, valued at USD 1,974.7 million in 2024, is expected to register robust revenue CAGR of 41.3%. Request free copy of this report:

April 08, 2025 - Rising demand for Urban Air Mobility (UAM) is a key driver of revenue growth in the Electric (eVTOL) aircraft market. Advances in battery technology are important to the development of electric and hybrid aircraft. High-energy-density batteries are getting more efficient and lightweight, breaking through past barriers that hindered the advancement of electric flight. Breakthroughs in battery technology allow for longer flying times, making electric and hybrid aircraft more viable for a broader range of applications.

The propulsion and efficiency of eVTOL aircraft are largely determined by the battery technology that drives them. eVTOLs are expected to alter aviation, with possible applications in urban transport. Because of the high energy density of lithium-ion batteries, eVTOLs can store a significant amount of electrical charge, allowing them to fly for longer periods of time while requiring less frequent recharge.

In February 2025, Archer Aviation has announced a "Launch Edition" sales effort for its Midnight aircraft. The purpose of this program is to develop a practical and repeatable marketing strategy for deploying Midnight in dozens of early adopter markets. Archer's first Launch Edition customer, Abu Dhabi Aviation (ADA), intends to deploy an initial fleet of Midnight aircraft. Archer personnel will now collaborate with Abu Dhabi Aviation to fly Midnight in the country, focusing on passenger flights in Abu Dhabi.

However, regulatory and air traffic management problems pose barriers to industry expansion. The current air traffic management (ATM) system was designed for traditional aircraft, not hundreds of small, electric-powered planes flying at low altitude. The increasing density of eVTOL travel, particularly in and around cities, may pose significant issues to current air traffic controllers.

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Segments market overview and growth Insights:
Based on the application, the Electric (eVTOL) Aircraft market is segmented into Urban Air Mobility (UAM), Regional Air Mobility (RAM), Emergency Medical Services (EMS) & disaster response, military & defense, and others. The Urban Air Mobility (UAM) segment held the largest market share in 2024. According to NASA (National Aeronautics and Space Administration), the aircraft industry will transport 130 million passengers annually by 2030. AI is driving precise navigation, cost-effective operation, energy management, and better safety, making the concept of urban air mobility both feasible and imminent.
On December 2024, EHang Holdings Limited, the world's leading urban air mobility technology platform firm, has established a strategic agreement with the People's Government of Fangshan District in Beijing. Together, the two parties hope to progress the low-altitude emergency rescue sector by creating EHang's national headquarters for low-altitude emergency rescue equipment in Fangshan District, Beijing.

Regional market overview and growth insights:
North America held the largest market share in the Electric (eVTOL) aircraft market in 2024, driven rising demand for Urban Air Mobility (UAM). Furthermore, technological advancements of Electric (eVTOL) aircraft is also driving the market share in North America region. On January 2023, Stellantis N.V. and Archer Aviation Inc. have announced that they would considerably expand their cooperation by collaborating to produce Archer's flagship electric vertical take-off and landing (eVTOL) aircraft, Midnight.

Competitive Landscape and Key Competitors
The Electric (eVTOL) aircraft market is characterized by a fragmented structure, with many competitors holding a significant share of the market. List of major players included in the Electric (eVTOL) aircraft market report are:

oAirbus S.E.
oEmbraer SA
oBETA Technologies, Inc.
oIsrael Aerospace Industries Ltd.
oBell Textron Inc.
oLilium Gmbh
oJoby Aviation Inc.
oVolocopter GmbH
oArcher Aviation
oVertical Aerospace
oTerrafugia
oWisk
oEve Air Mobility
oUrban Aeronautics Ltd.
oXTI Aerospace

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Major strategic developments by leading competitors:
TCab Tech: In February 2025, TCab Tech, a pioneer in the development of electric vertical takeoff and landing (eVTOL) aircraft, announced the successful conclusion of its B+ round of funding. Grand Neo Bay Venture Capital and Chiforturne Venture Capital co-led the investment, and both will give strategic support to the company, increasing its commercialization efforts in Shanghai's low-altitude economy and the Yangtze River Delta region. To far, TCab Tech has raised around USD 100 million in total finance.

GAC Group: In December 2024, GAC Group has developed a new brand for its electric vertical takeoff and landing (eVTOL) business, as China's low-altitude economy takes pace. The Govy AirJet is a composite-wing flying automobile with flexible vertical takeoff and landing capabilities, as well as the ability to fly effectively in cruise mode.

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Navistrat Analytics has segmented Electric (eVTOL) aircraft market based on component, propulsion type, lift technology, operation mode, Maximum Take-Off Weight (MTOW), range, application:
.Component Outlook (Revenue, USD Million; 2022-2032)
oHardware
Aerostructure
Avionics
Electric Motor
Batteries and Fuel Cells
Others
oSoftware
.Propulsion Type Outlook (Revenue, USD Million; 2022-2032)
oFully Electric eVTOL
oHybrid eVTOL
oHydrogen Fuel Cell eVTOL
.Lift Technology Outlook (Revenue, USD Million; 2022-2032)
oVectored Thrust
oMultirotor
oLift Plus Cruise
.Operation Mode Outlook (Revenue, USD Million; 2022-2032)
oAutonomous
oPiloted
.Maximum Take-Off Weight (MTOW) Outlook (Revenue, USD Million; 2022-2032)
o2,001 kg
.Range Outlook (Revenue, USD Million; 2022-2032)
oIntracity (20km-100km)
oIntercity (Above 100Km)
.Application Outlook (Revenue, USD Million; 2022-2032)
oUrban Air Mobility (UAM)
Delivery Drone
Air Taxi
Corporate Transport
oRegional Air Mobility (RAM)
Intercity Transport
Tourism & Leisure
oEmergency Medical Services (EMS) & Disaster Response
Air Ambulances
Disaster Relief Operations
Firefighting Assistance
oMilitary & Defense
Surveillance & Reconnaissance
Tactical Air Transport
Autonomous Military Operations
oOthers
.Regional Outlook (Revenue, USD Million; 2022-2032)
oNorth Benelux
g Countries
h of Europe
oAsia Pacific
a Japan
d Oceania
f Countries
g of APAC
oLatin Brazil
b of LATAM
oMiddle East & Africa
a Countries
b Turkey
e of MEA

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