The global market for electric aircraft is estimated to be USD 7.9 billion in 2021 and is projected to reach USD 27.7 billion by 2030, at a CAGR of 14.8% during the forecast period. The growth of this market is mainly driven by the deployment of urban air mobility aircraft and the increasing use of electric aircraft for cargo applications and different aerial mission-specific activities.
Airbus SE (Netherlands), Elbit Systems Ltd. (Israel), and AeroVironment, Inc (US), among others, are some of the leading players operating in the electric aircraft market. These players have adopted various organic and inorganic growth strategies to strengthen their position in the market. These include new product developments, contracts, partnerships, agreements, acquisitions, and research & development (R&D) activities further to expand their presence in the aircraft landing gear market.
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AIRBUS SE has been committed to offering zero-emission flights. In 2010, Airbus developed the world’s first all-electric, four engine aircraft, CriCri. Since then, the company has made significant progress in the electrification of flight. Its all-electric, twin-propeller aircraft E-fan successfully crossed the English Channel in 2015. Its eVTOL demonstrator projects, Vahana and CityAirbus, have completed many hours of rigorous and comprehensive flight-testing programs to ensure safety and high performance. It has also successfully developed the first solar-electric High Altitude Platform Station, Zephyr. Its persistence enables a capability of flying continuously for months at a time, at around 70,000ft, above weather and conventional air traffic.
ELBIT SYSTEMS LTD is an international technology company engaged in a range of programs across the world. The company develops and supplies a portfolio of airborne, land, and naval systems and products for defense, homeland security, and commercial aviation applications. The design of unmanned aircraft systems is based on decades of operational experience, and systems are in service with numerous military and security forces worldwide. The UAS is the backbone of the Israel Defense Forces (IDF). Elbit Systems’ extensive experience and innovative approach to all aspects of UAS development, production, fielding, and support result in outstanding UAS performance and highly effective operational yields around the globe.
AEROVIRONMENT, INC. designs, develops, produces, supports, and operates a portfolio of products and services for government agencies, businesses, and consumers. The company operates through the Unmanned Aircraft Systems (UAS) segment, which focuses primarily on the design, development, production, support, and operation of UAS and tactical missile systems that provide situational awareness, multi-band communications, force protection and other mission effects. The company supplies UAS, tactical missile systems, and related services primarily to organizations within the US Department of Defense (DoD). The company provides intelligent, multi-domain robotic systems, from small and medium unmanned aircraft systems to tactical missile systems.
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
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