Unveiling the Dynamics of the Global Electric Aircraft Market

1. (/) Electric Aircraft Market RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML) Search Reports  HOME (/) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) HOME (/) ❯ TOP MARKET REPORTS (/TOP-MARKET-REPORTS.ASP)❯ ELECTRIC AIRCRAFT MARKET 7500+ COMPANIES WORLDWIDE APPROACH US EVERY YEAR FOR THEIR REVENUE GROWTH INITIATIVES KNOW MORE Electric Aircraft Market by platform (Regional Transport Aircraft, Business Jets, Light & Ultralight Aircraft), Type, System (Batteries, Electric Motors, Aerostructures, Avionics, Software), Technology, Application and Region - Forecast to 2030 (/Knowledgestore.asp#request_free_trial)  FREE BROCHURE (/pdfdownloadNew.asp?id=52646445)  FREE SAMPLE REPORT (/requestsampleNew.asp?id=52646445) Report Code: AS 6154Mar, 2023, by marketsandmarkets.com DESCRIPTION TABLE OF CONTENTS METHODOLOGY DOWNLOAD PDF (/PDFDOWNLOADNEW.ASP?ID=52646445) [270 Pages Report] The Electric Aircraft market was valued at $8,800 Million in 2022 and is estimated to grow from $10,100 Million USD in 2023 to $37,200 Million USD by 2030 at a CAGR (Compound Annual Growth Rate) of 19.8%. Rising demand for environment-friendly aircraft and the growing development of UAVs and electric VTOLs are the key factors driving the electric aircraft market. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

2. Electric Aircraft Market Forecast to 2030 To know about the assumptions considered for the study, Request for Free Sample Report (https://www.marketsandmarkets.com/requestsampleNew.asp?id=52646445) (/) An electric aircraft uses batteries for power and propulsion, which is traditionally achieved by fossil fuels. There has been a growing need for sustainable alternatives to fossil fuel to reduce the carbon emissions resulting from aircraft, as the global aircraft fleet size and air travel is expected to increase in the future. Electric aircraft are more energy-efficient and are considered a cleaner and quieter mode of air travel. Recent technological advancements in power electronics, battery technologies, and electrical motors played a major role in driving the market for electric aircraft. The adoption of electric aircraft is expected to drive value and unlock significant improvements in terms of aircraft weight, energy efficiency, total life cycle cost, maintenance, and aircraft reliability. Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) Attractive Growth Opportunities in Electric Aircraft Market Electric Aircraft market Dynamics: Driver: Growing Need for cleaner and quieter aircraft According to the International Energy Agency (IEA), global flights produced around 720 million tons of carbon dioxide in 2021. The global aviation industry produces over 2% of all the CO2 emissions induced by humans. With an increase in the number of global aircraft fleet size and air travel, these numbers are expected to rise even higher. Hence, there has been a pressing need for electric aircraft (https://www.marketsandmarkets.com/Market- Reports/electric-aircraft-market-52646445.html), which will help reduce the carbon footprint of the aviation industry. Organizations and governing bodies such as the International Civil Aviation Organization, the Federal Aviation Administration, and the European Union Aviation Safety Agency have called for sustainable alternatives to aircraft fuel as they estimate that aircraft-generated emissions are expected to be three-fold in volume by 2050. Since electric engines do not have noises associated with jet or combustion engines, they result in no aircraft noise levels. In an electric aircraft, manufacturers aim to improve efficiency by replacing hydraulically controlled systems with electric systems. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

3. Electric aircraft manufacturers such as Airbus (France), Eviation (Israel), Embraer (Brazil), and Joby Aviation (US) identify the need for cleaner aircraft as a major opportunity in the near future. Thus, the need for sustainable air travel is a major factor driving the electric aircraft industry (https://www.marketsandmarkets.com/PressReleases/electric-aircraft.asp). (/) Opportunity: Emergence of Advanced Air Mobility HOME (/) ABOUT US (/ABOUTUS-8.HTML) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  CAREERS (/CAREER.ASP) The purpose of advanced air mobility is to provide a convenient, safe, and affordable air travel system that will use highly automated aircraft transporting passengers or cargo at lower altitudes. Advanced air mobility includes services such as air taxis, commercial inter-city, cargo delivery, public services, or private/recreational vehicles. This presents a great market opportunity for electric aircraft manufacturers as the demand for this type of air mobility will only increase in the future, considering the ever-growing population and congestion of cities. According to Roland Berger, advanced air mobility is expected to grow at the highest rate in the coming few years, and urban air taxis will dominate the full-electric advanced air mobility market. NASA hosted an Advanced Air Mobility National Campaign promoting confidence in the public and expediting the urban, suburban, rural, and regional advanced air mobility by 2022. The campaign had announced agreements with four new organizations, Electra Aero (US), Overair (US), Supernal (US), and Ellis & Associates (US), to exchange information related to the development and testing of vehicles, systems, and technology to integrate air taxis, cargo delivery, and other advanced aircraft concepts into the National Airspace System (NAS). With the existing propulsion technologies, long-range commercial flights might not seem possible. However, advanced air mobility aircraft certainly seems possible, and many of the manufacturers such as Pipistrel (Slovenia), Joby Aviation (US), and Eviation (Israel) are focusing on developing small all-electric aircraft. Innovative startups such as Joby Aviation have developed a flying eVTOL taxi prototype that can carry five people up to 150 miles on a single charge. They have also acquired Uber’s urban air mobility (UAM) (https://www.marketsandmarkets.com/Market-Reports/urban-air-mobility-market- 251142860.html) initiative. Hence, advanced air mobility is a great opportunity for all electric aircraft manufacturers in the coming few years. Challenge: Development of high energy density batteries One of the biggest challenges that electric aircraft manufacturers face in terms of long-distance flights is the low energy density of batteries. The energy density for aircraft propulsion is usually measured in watt-hours per kilogram (Wh/kg). The existing lithium-ion batteries have an energy density of around 250 Wh/kg, which is way lesser than the energy density provided by conventional jet fuel or kerosene of around 12,000 Wh/kg. Thus, all- electric long-haul commercial flights are still a distant reality as conventional fossil fuels are about 14 times more energy-rich than battery-powered alternatives. Hence, aircraft would require electric batteries that weigh 30 times more than their current fuel intake to achieve the range of distances covered by fossil fuels. This is a major challenge that aircraft manufacturers must address if they want to achieve the goal of all-electric commercial flights. Advancements such as lithium (https://www.marketsandmarkets.com/Market-Reports/lithium-silicon-battery-market-78526836.html)-sulfur batteries significantly increase the energy density to 500 Wh/kg or 600 Wh/kg. However, some industry experts claim that batteries that will enable all-electric commercial flights will not be available until the late 2030s to early 2040s. It will take a considerable amount of time to build batteries sufficient to electrify the medium and long-range flights that make up the bulk of commercial aviation, which is a big challenge faced by electric aircraft manufacturers. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

4. The Aerostructures segment is estimated to dominate the electric aircraft market during the forecast period By system, the aerostructures segment is estimated to dominate the electric aircraft market during the forecast period. Aerostructures account for the largest share of the total development cost of an aircraft. Newly developed electric aircraft, especially eVTOL aircraft, require some of the most advanced materials to make them lightweight while maintaining their structural strength. These factors contribute to the large share of the system segment in the electric aircraft market. RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML) CONTACT US (/CONTACTUS.ASP) (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP)  HOME (/) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) The Rotary Wing segment to witness largest market share in 2022 Based on type, the electric aircraft market has been segmented into fixed wing, rotary wing, and hybrid wing. The rotary wing segment is estimated to account for the largest share of the electric aircraft market in 2022. This is due to the increased deployment of rotary wing air taxis to reduce the price and convenience of urban flights. North American region is expected to have the highest market share during the forecast period Based on region, the electric aircraft market has been segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. While North America is estimated to lead the electric aircraft market in 2022, the market in Latin American region is projected to register the highest CAGR during the forecast period. North American region constitutes that largest electric aircraft manufacturers and are also in the lead of adoption of the advanced air mobility solutions. Latin America having companies like Embraer (Brazil) that are receiving high numbers of contracts with their electric aircraft. Latin America is also leading with larger adoption of advanced air mobility solutions. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

5. (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) Electric Aircraft Market by Region To know about the assumptions considered for the study, download the pdf brochure (https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=52646445) Top Electric Aircraft Companies - Key Market Players The electric aircraft companies (https://www.marketsandmarkets.com/ResearchInsight/electric-aircraft- market.asp) are dominated by globally established players such as Airbus SE (France), Eve Air Mobility (Brazil), Joby Aviation (US), Vertical Aerospace (UK), and Lilium N.V. (Germany) among others. These key players offer electric aircraft and services to different key stakeholders. Get online access to the report on the World's First Market Intelligence Cloud  Easy to Download Historical Data & Forecast Numbers  Company Analysis Dashboard for high growth potential opportunities  Research Analyst Access for customization & queries  Competitor Analysis with Interactive dashboard  Latest News, Updates & Trend analysis We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

6. REQUEST SAMPLE (/) Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML)  HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) CONTACT US (/CONTACTUS.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) ()  Click on image to enlarge Scope of the Report Report Metric Details Market size available for years 2018-2030 Base year considered 2021 Forecast period 2022-2030 Forecast units Value (USD) Segments covered Platform, Type, System, Application, Technology and Region Geographies covered North America, Europe, Asia Pacific, Middle East, Latin America and Africa Companies covered Airbus SE (France), Eve Air Mobility (Brazil), Joby Aviation (US), Vertical Aerospace (UK), and Lilium N.V. (Germany)) Electric Aircraft Market Highlights This research report categorizes the Electric Aircraft market into End Use, Technology, Type, Detection, Component and Region. We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info (https://www.marketsandmarkets.com/Privacy-12.html). X

7. Segment Subsegment By Type (/) Fixed Wing Rotary Wing Hybrid Wing  Sign In (https://www.marketsandmarkets.com/signin.asp) LEADERSHIP TEAM (/LEADERSHIPTEAM.ASP) BRIEFINGS (/ANALYSTBRIEFINGS.HTML) HOME (/) RESEARCH EXPERTS (/RESEARCHLEADERSHIP.ASP) ABOUT US (/ABOUTUS-8.HTML) CAREERS (/CAREER.ASP) By System CONTACT US (/CONTACTUS.ASP) Batteries Electric Motors Aerostructures Avionics Software Others By Technology CTOL STOL VTOL By Platform Regional Transport Aircraft Business Jets Light & Ultralight Aircraft (General Aviation, Trainer Aircraft, UAVs, AAM) By Application Civil Military Recent Developments In January 2023, Eviation Aircraft secured a contract from Aerus, an emerging regional airline in Mexico, for the supply of 30 of its commuter Alice aircraft. Aerus intends to utilize Alice for middle-mile travel across regions including Nuevo León, Tamaulipas, Coahuila, and Veracruz, providing historically underserved communities in northern areas of the country with access to carbon-free, cost-effective, and convenient air travel. In December 2022, Eve Air Mobility (Eve), the subsidiary of Embraer SA, signed a Letter of Intent (LOI) with FlyBIS Aviation Limited (FlyBIS), an advanced air mobility start-up based in Caxias do Sul, in the south of Brazil, to collaborate on the development of eVTOL operations in Brazil and South America. Based on the agreement, FlyBIS will also purchase up to 40 of Eve’s eVTOL vehicles. Frequently Asked Questions (FAQ):  What is the current size of the electric aircraft market?  Who are the winners and small enterprises in the Electric Aircraft market?  What are some of the technological advancements in the market?  What are the factors driving the growth of the market? We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info X  Which sectors are witnessing larger adoptions? (https://www.marketsandmarkets.com/Privacy-12.html).

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