At 18.56 % CAGR, eVTOL Aircraft Market Size Is Expected to Grow at a Fast Pace, says Brandessence Market Research
PUNE, India, Feb. 23, 2021 /PRNewswire/ -- Global eVTOL Aircraft Market is expected grow with a CAGR of 18.56% over the forecast period 2021 to 2027. Increasing technological developments, rising environmental pollution & traffic congestion along with growing priority towards renewable energy resources are anticipated to drive the growth of Global eVTOL Aircraft Market.
EVTOL Aircraft Market Size By Mode of Operation (Piloted, Optionally Piloted), By Lift Technology (Vectored Thrust, Multirotor, Lift Plus Cruise), By Range (0 To 200 Km, 200 To 500 Km), By MTOW (<250 Kilograms, 250–500 Kilograms, 500–1,500 Kilograms, >1,500 Kilograms), By Propulsion (Electric/Battery, Electric/Hybrid, Electric/Hydrogen), By Application (Commercial, Military, Cargo), Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
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Key Players for Global eVTOL Aircraft Market Report: Some of the key players for global eVTOL aircraft market are EHANG, A³ by Airbus, Volocopter, Uber Technologies, Lilium, Aurora Flight Sciences, Bell Textron, TERRAFUGIA, Kitty Hawk, Workhorse, EmbraerX, Karem Aircraft, Neva Aerospace, LIFT Aircraft, Opener, Pipistrel Group, Vertical Aerospace, HOVERSURF, Cartivator, Joby Aviation, Amprius Technologies, Sion Power Corporation, MOLICEL, EaglePicher Technologies, OXIS Energy, MGM COMPRO, Bell Helicopter and others.
During Covid-19 pandemic, the government has imposed the restriction on movement has led to significant drop in eVTOL market which is limited to few economies. The post covid-19 era is anticipated to grow at fast pace due to the increased social distancing and increasing connectivity between smaller cities.
eVTOL aircraft includes the electric vertical takeoff and landing aircraft which are meant to be used for air taxis and urban air mobility. This aircraft uses new technology which helps in moving faster, quieter with autonomous flight capabilities. The increasing world population and urbanization is leading to rise in traffic congestion which leads to more pollution, wastage of time, high travelling cost with faster depletion of fossil fuel. The increased focus on environmental issues has shifted the attention towards renewable energy source and efficient means of travel. The dependence of eVTOL on electricity helps in reducing CO2 up to 50% and at reduced cost than jet fuel.