IMARC Group has recently released a new research study “EVTOL Aircraft Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the EVTOL Aircraft Industry?
The global eVTOL Aircraft market size reached US$ 9.44 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.62 Billion by 2027, exhibiting a growth rate (CAGR) of 14.30% during 2022-2027.
Impact of COVID-19:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is a EVTOL Aircraft Market?
eVTOL or electric vertical takeoff and landing aircraft usually relies on electric power to take off, hover, and land vertically.it comprises fixed-wing, multi-rotors, and tilt-wing aircraft having radar, sensors, cameras, etc. eVTOL aircraft utilizes distributed electric propulsion technology to integrate the propulsion system with the airframe and distribute multiple motors across the wing.In line with this, it also employs Diamond Nuclear Voltaic (DNV) technology, lithium, and hydrogen cell batteries to lower operating costs, increase efficiency, enhance safety, etc. eVTOL is extensively used by farmers for data gathering, crop dusting, crop management, and other farming operations. Consequently, eVTOL aircraft finds extensive applications in several industries, such as agriculture, defense, logistics, etc., across countries.
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What are the major market drivers in the EVTOL Aircraft Market ?
The expanding transportation industry is primarily driving the eVTOL aircraft market. Additionally, the increasing traffic congestion is further catalyzing the market growth.Besides this, the widespread adoption of eVTOL ambulances in the healthcare industry to extend medical support and minimize emergency medical services response time is positively influencing the global market. Moreover, it is utilized to provide continuous and precise project notifications, survey lands, improve safety, prevent dangerous incidents on construction sites, etc., which is acting as another significant growth-inducing factor. Apart from this, the escalating demand for eVTOL aircraft, on account of various associated benefits, such as lesser environmental impact, generating no noise, flying at a lower altitude, etc., is also propelling the market growth. Furthermore, the growing investments in R&D activities to introduce advanced technologies for improving aircraft performance, design, and power output are anticipated to fuel the eVTOL aircraft market over the forecasted period.
Who are the leading players in the eVTOL Aircraft Market ?
Airbus SE, Archer Aviation Inc., Beta Technologies, Guangzhou EHang Intelligent Technology Co. Ltd, Lift Aircraft Inc., Lilium GmbH, Moog Inc., Piasecki Aircraft Corporation, Pipistrel d.o.o Ajdovšcina, Vertical Aerospace Group Ltd., Volocopter GmbH, Wisk Aero LLC and Xti Aircraft Company.
Breakup by Lift Technology:
- Vectored Thrust
- Multirotor
- Lift Plus Cruise
Breakup by Mode of Operation:
- Piloted
- Autonomous
- Semi-Autonomous
Breakup by Maximum Take-off Weight (MTOW):
- <250 Kg
- 250-500 Kg
- 500-1500 Kg
- >1500 Kg
Breakup by Range:
- 0-200 Km
- 200-500 Km
Breakup by Propulsion Type:
- Battery-Electric
- Hybrid-Electric
- Hydrogen-Electric
Breakup by Application:
- Commercial
- Air Taxi
- Delivery Drones
- Military
- Cargo Transport
- Combat Mission
- Emergency Medical Service
- Air Ambulance
- Medical Cargo Transport
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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The global EVTOL Aircraft Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the Volocopter GmbH, Embraer S.A. Neva Aerospace Ltd., Volocopter, EHang, Lilium GmbH, and Kitty Hawk.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global EVTOL Aircraft Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/electric-vertical-take-off-and-landing-evtol-aircraft-market/download-sampleaMarket SegmentationThe broad EVTOL Aircraft has been sub-grouped into the Lift Technology, Mode of Operation, Range, Application, MTOW and region.
The report studies these subsets with respect to the geographical segmentation.
The strategists can gain a detailed insight and devise appropriate strategies to target specific market.
