eVTOL Aircraft Market

Lilium (Germany) and Volocopter (Germany) are leading players in eVTOL Aircraft Market

Electric Vertical Take-off and Landing (eVTOL) aircraft is an electric motor propelled aircraft capable of carrying passenger and cargo and military operations. The eVTOL aircraft market is estimated to be USD 162 million in 2025 and is projected to reach USD 411 million by 2030, at a CAGR of 20.42% from 2025 to 2030. The major driving factors for the market include increasing urban population across the world and need for quick transportation.

The key players in the eVTOL aircraft market include Kitty Hawk (US), Lilium (Germany), EHang (China), Volocopter (Germany), A3 by Airbus (US), Workhorse Group (US), Pipistrel (Slovenia), Neva Aerospace (UK), and Opener (US). These players have been focusing on securing government contracts for their organic growth, and their core competencies include high investments in R&D activities. New product launches and agreements were among the key strategies adopted by these leading market players to strengthen and sustain their position in the market. In January 2019, Bell Helicopter, a Textron Inc. company, revealed its full-scale eVTOL air taxi vehicle named Bell Nexus, which is powered by a hybrid-electric propulsion system. The eVTOL aircraft features Bell’s signature powered lift concept incorporating six tilting ducted fans that are designed to safely and efficiently redefine air travel.

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Lilium is a major player in the eVTOL aircraft market. The company has been focusing on enhancing the technical competence of its aircraft, apart from securing contracts. In September 2017, it developed a five-seat flying electric aircraft, worth USD 90 million, capable of a vertical take-off and jet-powered flight. The company aims to make intercity travel cheaper than conventional air travel. It claims to provide an eVTOL aircraft ride using the Lilium Jet from Midtown Manhattan to JFK airport, with fare as low as 6 USD.

Another major player operating in this market is Volocopter. In September 2017, the company successfully carried out the test flight of its autonomous air passenger vehicle. The company plans to commercialize air taxi services by 2022 for urban air transportation in the city of Dubai.

Related Reports:

eVTOL Aircraft Market by Lift Technology (Vectored Thrust, Multirotor, Lift Plus Cruise), MTOW (<250 KG, 250 - 500 KG, 500 - 1500 KG, >1500 KG), Application, Mode of Operation, Type of Propulsion, Range, and Region - Global Forecast to 2030

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Report Code
AS 6984
RI Published ON
3/14/2019
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