Global Electric Vertical Take-off and Landing (eVTOL) Aircraft Market Overview
The key driver impacting the electric Vertical Take-off and Landing (eVTOL) aircraft market is the growing urban population leading to increasing road traffic congestion in urban areas. For instance, Worldwide, more than 50% of the population lives in urban areas now. By 2045, the global urban population will climb by 1.5 times to 6 billion. According to the United Nations (UN) report, By 2050, about 70% to 80% of the global population is estimated to reside in cities. As per WHO, About 90% of all road fatalities happen in low and middle-income nations, as it has less than half of the vehicles present around the world. According to India's transport report, in India, traffic fatalities have risen by 6% to 8% each year since 2000. It is projected that total passenger traffic is anticipated to grow by 15%, whereas in 2031-32, growth in road traffic is expected to be 15.4%, and thus it will increase by the factor of 16% in the later year, which is 7% to 8% in 2014. Moreover, the growing need to augment operational efficiency, and to decrease in human intervention for intercity and intracity transportation by means of eVTOLs, contributes to electric Vertical Take-off and Landing (eVTOL) aircraft's market growth in the coming years.
There are several companies and municipal corporations currently working on eVTOL aircraft manufacturing for air mobility solutions, thus augmenting electric Vertical Take-off and Landing (eVTOL) aircraft in the forecast period. For instance, Japan's SkyDrive and German Volocopter is planning to commercialize eVTOL in Japan by 2023. Also, in February 2020 Bell Textron, publicized that they are partnering with Japan Airlines and Sumitomo Corporation to determine the growth of an on-demand air mobility ecosystem in Japan via Bell's Nexus 4EX eVTOL air taxi. However, Certification is one of the key factors that may hamper the market in the long run. Also, the high initial investment negatively impacts the market. The current industry trends, such as the growing need for MRO and charging stations at vertiports, growing need for an emergency ambulance, are expected to offer new lucrative market opportunities for the key players.
The electric Vertical Take-off and Landing (eVTOL) aircraft market is vast, with many local and global players. The eVTOL aircraft market is extensive, with many regional and international players. The important market leaders follow numerous strategies to improve their market position, such as acquisitions, extending product portfolio, contracts, amalgamation, contracts, acquisitions, product upgrades to enlarge their market share across the globe. The significant players studied in the report include Jaunt Air Mobility (US), Lilium (Germany), Volocopter (Germany), and EHang (China), among others.
In this research report, the electric Vertical Take-off and Landing (eVTOL) aircraft market is segmented by lift technology, mode of operation, range, application, mtow and region.
Analysis by Lift Technology:
By lift technology, the report is categorized into Vectored Thrust, Multirotor, and Lift Plus Cruise. The Vectored Thrust segment dominates the lift technology segment with over 25% share in 2020.
It is due to the enhanced efficiency and endurance offered by vectored thrust technology to eVTOL aircraft. Moreover, rising investments from various manufacturers for the use of eVTOL aircraft in commercial applications, such as air taxis, passenger air travel, cargo transportation, and air ambulance, contribute to the massive demand for vectored thrust technologysegment in the forecast period.
Analysis by Mode of Operation:
By Mode of Operation, the report is categorized into Piloted, Optionally Piloted. The Optionally Piloted segment dominates the mode of operation segment with over 40% share in 2020. It is due to the increasing investments by manufacturers and government bodies in the development of optionally piloted evtol aircraft. Moreover, the growing need to develop cost-effective solutions for passenger and cargo transportation to have effective intracity and intercity commute contributing to Optionally Piloted (eVTOL) aircraft segment growth in the forecast period.
Analysis by Range:
By Range, the report is categorized into 0 to 200 and 200 to 500 kilometers. The 0 to 200kms segment dominates the range segment with over 60% share in 2020. It is due to the rising demand for short-range aircraft owing to its benefits such as lesser air pollution, more flexibility, fast travel, and smooth operations. Moreover, intracity commute for passengers looking for urban air mobility services contributing to 0 to 200 km (eVTOL) aircraft segment growth in the forecast period.
Analysis by Application:
By application, the report is categorized into Commercial, Military, and Cargo. The commercial segment dominates the application segment with over 35% share in 2020. It is due to the rising adoption of fully electric eVTOLs for commercial transportation operations. Moreover, the growing need for quick intracity transportation is contributing to high market demand from commercial segment growth in the forecast period.
Analysis by MTOW:
By MTOW, the report is categorized into <250 Kilograms, 250–500 Kilograms, 500–1,500 Kilograms, and >1,500 Kilograms. The <250 Kilograms segment dominates the MTOW segment with over 25% share in 2020. It is due to the growing adoption of Small eVTOL aircraft in commercial applications. Moreover, the rapid deployment of small eVTOL aircraft in providing emergency services in the occurrence of an accident is contributing to high demand for the <250 Kilograms segment in the forecast period.
Analysis by Region:
In the regional outlook of the global electric Vertical Take-off and Landing (eVTOL) aircraft market, the North America region dominates globally with a 30% market share in the forecast period. It is due to the increasing adoption of eVTOL in the commercial and military sectors. Moreover, favorable government initiatives and the presence of major eVTOL contribute to tremendous market growth across North America.
Market Segmentation covered in the Report:
By Lift Technology
By Propulsion Type
By System
By Mode Of Operation
By Application
By Mtow
By Range
By Region
1 . PREFACE
1.1. Report Description
1.1.1. Objective
1.1.2. Target Audience
1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Market Research Process
1.3.2. Market Research Methodology
2 . EXECUTIVE SUMMARY
2.1. Highlights of Market
2.2. Global Market Snapshot
3 . ELECTRIC VERTICAL TAKE-OFF AND LANDING (EVTOL) AIRCRAFT – INDUSTRY ANALYSIS
3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter’s Five Force Analysis
3.7. Market Attractiveness Analysis
3.7.1 Market Attractiveness Analysis By Lift Technology
3.7.2 Market Attractiveness Analysis By Propulsion Type
3.7.3 Market Attractiveness Analysis By System
3.7.4 Market Attractiveness Analysis By Mode Of Operation
3.7.5 Market Attractiveness Analysis By Application
3.7.6 Market Attractiveness Analysis By Mtow
3.7.7 Market Attractiveness Analysis By Range
3.7.8 Market Attractiveness Analysis By Region
4 . VALUE CHAIN ANALYSIS
4.1. Value Chain Analysis
4.2. Raw Material Analysis
4.2.1. List of Raw Materials
4.2.2. Raw Material Manufactures List
4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
4.4.1. Direct Marketing
4.4.2. Indirect Marketing
4.4.3. Marketing Channel Development Trend
5 . GLOBAL ELECTRIC VERTICAL TAKE-OFF AND LANDING (EVTOL) AIRCRAFT MARKET SALES BY LIFT TECHNOLOGY
5.1 Overview by Lift Technology
5.2 Historical and Forecast Sales Data
5.3 Analysis by Lift Technology
5.4 Vectored Thrust Historic and Forecast Sales by Regions
5.5 Multirotor Historic and Forecast Sales by Regions
5.6 Lift Plus Cruise Historic and Forecast Sales by Regions
6 . GLOBAL ELECTRIC VERTICAL TAKE-OFF AND LANDING (EVTOL) AIRCRAFT MARKET AN ...
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