Robust Demand of Electric Aircraft to lead Europe eVTOL Aircraft Market through 2030
Increasing demand of Urban Air Mobility and Rising focus on environment
sustainability are the driving force for Europe eVTOL Aircraft market.
According to the TechSci Research
report, "Europe eVTOL Aircraft Market-
By Country, Competition
Forecast and Opportunities, 2018-2030F", The eVTOL aircraft
industry is still in development and has not yet been commercialised. However,
market advancements are rapidly expanding as most businesses involved in the
manufacturing and production of eVTOL
aircraft are concentrating their efforts on testing and certification of their
eVTOL products to meet the growing market demand. Furthermore, several
suppliers have already secured significant contracts from various consumers to
gain an early mover edge in the brisk industry. Archer said, in 2021, that it
has received a contract to sell 200 eVTOL aircraft typeswith United Airlines. In
December 2022, Brazilian air taxi company FlyBIS confirmed this week plans to
establish a fleet of four-passenger eVTOL aircraft from Eve Air Mobility. Eve
now has a backlog of up to 2,770 eVTOL aircraft with an estimated value of $8
billion from about a dozen prospective customers. United Airlines and the
Brazilian private aviation charter operator and fractional ownership group
Avantto are among the companies on Eve's order book. Eve's eVTOL is a fully electric, piloted
aircraft designed to transport four passengers on short trips of up to 100
kilometres (62 miles).
Furthermore, the demand for urban air
mobility is increasing in certain major nations, which is contributing to the
development of new markets for eVTOL aircrafts. Furthermore, increasing
investments in the development of eVTOL platforms for various applications such
as air taxis, cargo transport, tourism, medical logistics, and so on are some
of the major factors expected to aid the growth of the eVTOL aircraft market
soon, which will also bring about a drastic change in the preference of
transportation mode in Europe. The eVTOL aircrafts are simple to operate, fly
like an aeroplane, and emit little to no noise. As a result, the planes are
gaining popularity in e-commerce platforms for package delivery. The
battery-powered eVTOL aircraft contributes to lower carbon footprint and costs.
As e-commerce has grown, consumer preferences have become increasingly
important in the previously business-oriented parcel-delivery market.
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Pages and an in-depth TOC on "Europe eVTOL Aircraft Market"
The Europe
eVTOL Aircraft Market can be segmented based on application, propulsion, lift
technology, operation mode, range and region. The market is segmented into
three applications: commercial, military, and cargo. The
commercial sector is expected to dominate the market. The growing development
of delivery drones and air taxis is likely to stimulate industry expansion. The
market is divided into three segments based on propulsion type:
hybrid-electric, fully electric, and hydrogen-electric. Due
to the numerous advantages of hydrogen, the hydrogen electric category is
predicted to have the highest CAGR rate for the eVTOL aircraft market. Based on
lift technology, the market is divided into vectored thrust, lift plus cruise,
multicopter, and others where vectored thrust is expected to grow the fastest.
The qualities of this technology, such as high endurance and increased
efficiency, are related to the segment's rise. The
market is based on three categories:
autonomous, semi-autonomous, and piloted. The semi-autonomous sector is
predicted to have the largest market share due to increased spending by
government agencies and manufacturers, in the research and development of
semi-autonomous electric vertical take-off and landing aircrafts. The
market is divided into two segments based on range: 0-200 km and 200-500 km.
The segment of 200-500 km is likely to dominate the market because of the increased
demand for long-range vertical take-off and landing aircraft for intercity
travel.
Some
of the major players operating in the Europe eVTOL Aircraft market include:
- Airbus Group,
Inc.
- Bell Textron
Inc.
- Boeing Co
- Eve Air
Mobility
- Lilium GmBH
- EHang
Intelligent Technology Co. Ltd
- BETA
Technologies Inc.
- Volocopter GmbH
- Archer Avaition
Inc.
- Heart Aerospace
AB
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“Multiple competitors in the
manufacturing segment are developing and serially producing a wide range of
eVTOL platforms for various applications and use cases. Furthermore, due to
environmental concerns, many companies are shifting toward green energy to reduce
carbon emissions, and with increasing demand for urban air mobility due to its
versatile operation, Europe's eVTOL aircraft market will propel in the coming
years. ", said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Europe eVTOL Aircraft Market By Application
(Commercial, Military and Cargo), By Propulsion Type (Hybrid Electric, Fully
Electric, Electric Hydrogen), By Lift Technology (vectored Thrust, Lift Plus
Cruise, Multicopter and others), By Operation Mode (Autonomous, Semi-Autonomous
and Piloted), By Range (upto 200km, 201-500Km), By Region Competition, Forecast
and Opportunities, 2018-2030F”, has evaluated the future growth
potential of Europe eVTOL Aircraft Market and provides statistics & information
on market size, structure, and future market growth. The report intends to
provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
Europe eVTOL Aircraft Market.
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