Global eVTOL Aircraft Market to Reach USD 1.08 Billion by 2032

February 2025 | 285 pages | ID: G5D02D9652D8EN
Bizwit Research & Consulting LLP

Abstracts

The Global eVTOL Aircraft Market, valued at approximately USD 0.73 billion in 2023, is anticipated to grow at a CAGR of 4.46% during the forecast period 2024-2032. As the aviation industry undergoes a transformative shift toward sustainability, electric vertical takeoff and landing (eVTOL) aircraft are at the forefront of innovation, promising cleaner, more efficient, and congestion-free urban air mobility solutions. With urban air mobility (UAM) gaining traction globally, major players are making significant investments in advanced propulsion systems, battery technology, and automation, accelerating the commercialization of eVTOL solutions for passenger transport, cargo delivery, and emergency services.

The eVTOL market is witnessing a surge in demand due to several key driving factors. Governments and regulatory bodies are progressively endorsing eVTOL integration into urban transportation networks, with initiatives to develop air corridors, vertiports, and autonomous air traffic management systems. Additionally, increased funding from both private investors and government entities is bolstering research and development in battery efficiency and noise reduction technologies. The growing adoption of hydrogen fuel cells and solid-state batteries is further enhancing eVTOL aircraft's operational feasibility by extending flight range and reducing recharge times. However, challenges such as infrastructure limitations, stringent certification processes, and concerns over passenger safety pose significant hurdles to market expansion.

Regionally, North America dominates the eVTOL aircraft market, primarily due to the presence of industry pioneers, robust regulatory frameworks, and ongoing pilot projects across the United States and Canada. The U.S. Federal Aviation Administration (FAA) and NASA are actively collaborating to establish airspace frameworks for urban air mobility (UAM), fostering market growth. Meanwhile, Europe is witnessing substantial progress, with Germany, France, and the UK leading in R&D investments. The region’s emphasis on sustainable aviation aligns with the increasing adoption of electric and hybrid-electric aircraft. On the other hand, the Asia-Pacific (APAC) region is poised for the fastest growth, driven by rising urbanization, infrastructure advancements, and government-backed smart city initiatives in countries like China, Japan, and South Korea.

As global cities prepare for the next phase of urban mobility, major aerospace companies, startups, and technology firms are aggressively collaborating to bring eVTOL solutions to the commercial market. Strategic partnerships between aircraft manufacturers, software developers, and ride-hailing platforms are redefining air transportation’s future. The competitive landscape is marked by increased mergers, acquisitions, and product innovations aimed at enhancing aircraft efficiency, safety, and affordability. Market leaders are focusing on autonomous operations, pilot training programs, and hybrid propulsion solutions to overcome existing operational barriers and expand their footprint in commercial aviation.

Major Market Players Included in This Report:

• Joby Aviation
• Airbus SE
• Vertical Aerospace
• Lilium GmbH
• EHang Holdings Limited
• Bell Textron Inc.
• Archer Aviation Inc.
• Boeing Company
• Embraer S.A. (Eve Air Mobility)
• Hyundai Motor Group (Supernal)
• Volocopter GmbH
• Wisk Aero LLC
• Urban Aeronautics Ltd.
• Beta Technologies
• Pipistrel (Textron eAviation)

The Detailed Segments and Sub-Segments of the Market Are Explained Below:

By Type:

• Air Taxis
• Delivery Drones
• Others

By Battery Type:

• Lithium-Ion Batteries
• Solid-State Batteries
• Hydrogen Fuel Cells

By Lift Technology:

• Multirotor
• Vectored Thrust
• Lift Plus Cruise
• Others

By Type of Propulsion:

• Fully Electric
• Hybrid
• Electric Hydrogen

By Mode of Operation:

• Piloted
• Optionally Piloted

By Region:

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Years Considered for the Study:

• Historical Year: 2022, 2023
• Base Year: 2023
• Forecast Period: 2024 to 2032

Key Takeaways:

• Market Estimates & Forecast for 10 years (2022-2032).
• Annualized revenues and regional-level analysis for each market segment.
• Comprehensive geographical landscape analysis with country-level insights.
• Competitive landscape assessment, including market positioning of key players.
• Evaluation of business strategies and insights into future market opportunities.
• In-depth demand-side and supply-side analysis for enhanced market understanding.

Contents

CHAPTER 1. GLOBAL EVTOL AIRCRAFT MARKET EXECUTIVE SUMMARY

1.1. Global eVTOL Aircraft Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
  1.3.1. {By Type}
  1.3.2. {By Battery Type}
  1.3.3. {By Lift Technology}
  1.3.4. {By Type of Propulsion}
  1.3.5. {By Mode of Operation}
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

CHAPTER 2. GLOBAL EVTOL AIRCRAFT MARKET DEFINITION AND RESEARCH ASSUMPTIONS

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
  2.3.1. Inclusion & Exclusion
  2.3.2. Limitations
  2.3.3. Supply Side Analysis
    2.3.3.1. Availability
    2.3.3.2. Infrastructure
    2.3.3.3. Regulatory Environment
    2.3.3.4. Market Competition
    2.3.3.5. Economic Viability (Consumer’s Perspective)
  2.3.4. Demand Side Analysis
    2.3.4.1. Regulatory Frameworks
    2.3.4.2. Technological Advancements
    2.3.4.3. Environmental Considerations
    2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

CHAPTER 3. GLOBAL EVTOL AIRCRAFT MARKET DYNAMICS

3.1. Market Drivers
  3.1.1. Growing Urban Air Mobility Demand
  3.1.2. Technological Advancements in Propulsion and Battery Systems
  3.1.3. Supportive Regulatory and Infrastructure Developments
3.2. Market Challenges
  3.2.1. Infrastructure Limitations and Certification Hurdles
  3.2.2. High Development Costs and Safety Concerns
3.3. Market Opportunities
  3.3.1. Expansion into Emerging Urban Markets
  3.3.2. Strategic Partnerships and Technological Collaborations
  3.3.3. Integration of Autonomous Flight Capabilities

CHAPTER 4. GLOBAL EVTOL AIRCRAFT MARKET INDUSTRY ANALYSIS

4.1. Porter’s 5 Force Model
  4.1.1. Bargaining Power of Suppliers
  4.1.2. Bargaining Power of Buyers
  4.1.3. Threat of New Entrants
  4.1.4. Threat of Substitutes
  4.1.5. Competitive Rivalry
  4.1.6. Futuristic Approach to Porter’s 5 Force Model
  4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
  4.2.1. Political
  4.2.2. Economical
  4.2.3. Social
  4.2.4. Technological
  4.2.5. Environmental
  4.2.6. Legal
4.3. Top Investment Opportunity
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

CHAPTER 5. GLOBAL EVTOL AIRCRAFT MARKET SIZE & FORECASTS BY TYPE 2022-2032

5.1. Segment Dashboard
5.2. Global eVTOL Aircraft Market: {Type} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
  5.2.1. Air Taxis
  5.2.2. Delivery Drones
  5.2.3. Others

CHAPTER 6. GLOBAL EVTOL AIRCRAFT MARKET SIZE & FORECASTS BY BATTERY TYPE 2022-2032

6.1. Segment Dashboard
6.2. Global eVTOL Aircraft Market: {Battery Type} Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
  6.2.1. Lithium-Ion Batteries
  6.2.2. Solid-State Batteries
  6.2.3. Hydrogen Fuel Cells

CHAPTER 7. GLOBAL EVTOL AIRCRAFT MARKET SIZE & FORECASTS BY REGION 2022-2032

7.1. North America eVTOL Aircraft Market
  7.1.1. U.S. eVTOL Aircraft Market
    7.1.1.1. {Type} Breakdown Size & Forecasts, 2022-2032
    7.1.1.2. {Battery Type} Breakdown Size & Forecasts, 2022-2032
  7.1.2. Canada eVTOL Aircraft Market
7.2. Europe eVTOL Aircraft Market
  7.2.1. U.K. eVTOL Aircraft Market
  7.2.2. Germany eVTOL Aircraft Market
  7.2.3. France eVTOL Aircraft Market
  7.2.4. Spain eVTOL Aircraft Market
  7.2.5. Italy eVTOL Aircraft Market
  7.2.6. Rest of Europe eVTOL Aircraft Market
7.3. Asia-Pacific eVTOL Aircraft Market
  7.3.1. China eVTOL Aircraft Market
  7.3.2. India eVTOL Aircraft Market
  7.3.3. Japan eVTOL Aircraft Market
  7.3.4. Australia eVTOL Aircraft Market
  7.3.5. South Korea eVTOL Aircraft Market
  7.3.6. Rest of Asia-Pacific eVTOL Aircraft Market
7.4. Latin America eVTOL Aircraft Market
  7.4.1. Brazil eVTOL Aircraft Market
  7.4.2. Mexico eVTOL Aircraft Market
  7.4.3. Rest of Latin America eVTOL Aircraft Market
7.5. Middle East & Africa eVTOL Aircraft Market
  7.5.1. Saudi Arabia eVTOL Aircraft Market
  7.5.2. South Africa eVTOL Aircraft Market
  7.5.3. Rest of Middle East & Africa eVTOL Aircraft Market

CHAPTER 8. COMPETITIVE INTELLIGENCE

8.1. Key Company SWOT Analysis
  8.1.1. {Company 1}
  8.1.2. {Company 2}
  8.1.3. {Company 3}
8.2. Top Market Strategies
8.3. Company Profiles
  8.3.1. {First Company}
    8.3.1.1. Key Information
    8.3.1.2. Overview
    8.3.1.3. Financial (Subject to Data Availability)
    8.3.1.4. Product Summary
    8.3.1.5. Market Strategies
  8.3.2. {Company 2}
  8.3.3. {Company 3}
  8.3.4. {Company 4}
  8.3.5. {Company 5}
  8.3.6. {Company 6}
  8.3.7. {Company 7}
  8.3.8. {Company 8}
  8.3.9. {Company 9}
  8.3.10. {Company 10}

CHAPTER 9. RESEARCH PROCESS

9.1. Research Process
  9.1.1. Data Mining
  9.1.2. Analysis
  9.1.3. Market Estimation
  9.1.4. Validation
  9.1.5. Publishing
9.2. Research Attributes