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Electric vertical take-off and landing aircraft (eVTOLs) are being built and tested, and their configurations vary from hover bikes to electric ducted fans.
The VTOL aircraft, which can fly as quickly as an airplane and take off and land vertically like a helicopter, was developed after a lot of study. They are seen as a potential solution for urban air mobility and short-distance transportation, with the goal of providing more efficient and environmentally friendly alternatives to conventional modes of transportation.
Many other variants were tried, but only the Harrier was put into service. Key features and characteristics of the EVTOL aircraft market include:
At that time, choosing between using the same power plant for hover and cruise, or having two different power plants was the main design decision. Different configurations were tested by different companies during the span of two decades.
VTOLs that employ the same propulsion system for hover and forward flight can rotate the thrust direction in various ways. The tail-sitters turn the entire aeroplane around. They are conceptually simple, but control is complex and dangerous.
The blowing action of the propellers augments the lift produced by the wing at high angles of attack. Tilt-wings of the 1950s and 1960s had control issues due to limited pitch control power, were mechanically complicated, and the loss of an engine may result in catastrophic roll upset.
Most eVTOL companies have been quite secretive about their operations, making it difficult for novices to the field to discern between aircraft with viable pathways to market and those that are unlikely to ever see the light of day.
To know more about Flying Car and Flying Taxi Market in US and Europe, read our report
March 2022
Lilium
The eVTOL aircraft market has enormous potential, but, like other emerging technological industries, it will produce both winners and losers. The report’s assumption is that more informed investors will be better positioned to identify winners and so contribute more to the advancement of the industry as a whole.
Electric vertical take-off and landing aircraft can take off and land vertically, similar to a helicopter, without requiring a runway. Unlike traditional helicopters, which use internal combustion engines and mechanical transmissions to power their huge main rotors, eVTOL aircraft usually use numerous smaller propulsion units powered by electric motors.
More funding is flowing into new technologies than ever before, including the booming passenger air mobility market. VC activity is at an all-time high, from eVTOL to air taxis, and the effects of this momentum will most certainly be seen in cities throughout the world in the next few years.
eVTOLs are much less loud than helicopters—eVTOL aircraft developers are aiming for a 20-decibel noise reduction. Cities and metropolitan areas are already hotspots for noise pollution, and Hussain believes that quieter operations will be critical for increasing the frequency of eVTOL flights and expanding routes closer to residential areas.
The passenger air mobility industry includes eVTOL aircraft manufacturers, their enablement technologies and air taxi service providers, and it has the potential to significantly disrupt the urban mobility landscape.
The Global Evtol Aircraft market can be segmented into following categories for further analysis.
The global eVTOL Aircraft Market is set to experience steady growth, driven by a combination of continuous technological advancements, growing environmental awareness, and the rising need for streamlined operations. To seize the evolving market opportunities, industry players are anticipated to concentrate on product innovation, strategic collaborations, and geographical expansion.
The escalating demand for environmentally conscious transportation options has spurred advancements in electric vehicle technology, directly influencing the development of eVTOL aircraft Market. Companies are racing to create efficient, electric-powered aircraft that align with sustainable travel imperatives.
The Jetson ONE personal electric aerial aircraft has been formally presented by Swedish eVTOL firm Jetson. Jetson developed a consumer-grade version of the ONE eVTOL after a successful prototype, and it is now accepting orders after selling out of its limited manufacturing run.
A Swedish startup company called Jetson focuses on electric vehicles with vertical takeoff and landing (eVTOL). Nearly all of the roughly businesses building their own “flying vehicles” in the global market for eVTOL technology and commercial aerial transportation are still in the development phase.
Jetson recently announced the official debut of the Jetson ONE eVTOL aerial vehicle in a press release that was timed with an Instagram post.
A high discharge Lithium-Ion battery with a maximum output of 88 kW is housed in this one-passenger vessel’s all-aluminum airframe chassis. The Jetson ONE weighs 86 kg (190 lbs) and collapses to a width of 90 cm (35.5 in) when not in use.
The Jetson ONE also has LiDAR sensors, which are used for terrain tracking and obstacle avoidance. Next year, the first Jetson ONEs will be available for purchase.
They will have flying lengths of 20 minutes (85 kg/187 lb pilot weight) and a top speed of 102 km/h (63mph). The ONE’s maximum speed is currently computer-limited.
Advancements in Battery Technology: Improvements in battery technology, including energy density and charging capabilities, are crucial for extending the range and efficiency of EVTOL aircraft. As batteries become more advanced, they enable longer flights and make EVTOL aircraft more practical.
Urban Air Mobility (UAM): EVTOL aircraft are being developed as a solution for urban air mobility, addressing traffic congestion and offering faster, more efficient transportation within cities. The potential for UAM services to reduce travel time is a significant driver of interest in EVTOLs.
Investment and Partnerships: Increased investment and partnerships between established aerospace manufacturers, startups, and technology companies are accelerating EVTOL development. This includes collaborations for research, development, and funding.
Regulatory Frameworks: The establishment of clear and supportive regulatory frameworks for EVTOL operations is essential for market growth. Regulatory agencies are working to define the safety and operational standards for these aircraft.
Infrastructure Development: The creation of EVTOL infrastructure, including vertiports (takeoff and landing facilities in urban areas), is essential for successful commercial operations. Companies and governments are investing in infrastructure to support EVTOL services.
Autonomous Capabilities: Some EVTOL aircraft are being designed with autonomous or semi-autonomous capabilities, which can enhance safety and simplify operations. Autonomous technology is seen as a significant trend in the industry.
Environmental Benefits: EVTOL aircraft, particularly electric ones, are viewed as environmentally friendly and have the potential to reduce urban air pollution and noise levels, making them appealing to both passengers and regulators.
Consumer Demand: As consumer awareness grows and urban populations seek more convenient transportation solutions, there is increasing interest in EVTOL aircraft for short-distance, on-demand travel.
Multimodal Transportation Integration: EVTOL companies are exploring how their aircraft can integrate with other modes of transportation, such as ride-sharing services, to offer seamless and efficient travel options.
Scaling and Commercialization: Companies are working on scaling up production and commercializing EVTOL aircraft. This involves moving from prototype development to mass production and operational deployment.
Safety and Reliability: Safety is paramount in the EVTOL industry, and manufacturers are investing in rigorous testing, redundancy systems, and safety features to build trust with passengers and regulators.
Energy Efficiency: EVTOL aircraft are designed to be more energy-efficient and cost-effective compared to traditional helicopters, making them attractive for various applications, including air taxis and emergency medical services.
Global Market Expansion: EVTOL is a global industry, with interest and development happening across different regions, including North America, Europe, Asia, and the Middle East. Global market expansion is driving growth opportunities.
A partnership between the Chinese start-up EHang and the Malaysian aviation firm Aerotree will allow the two parties to expand urban air mobility (UAM) activities in the nation, including training and maintenance, repair, and overhaul services.
Additionally, the arrangement includes a pre-order for 10 VT-30 aircraft and 50 EH216 aircraft. One EH216-S from EHang was previously purchased by Aerotree.
Following the company’s agreement with AirX, which included a pre-order for 50 EH216 eVTOL aircraft that would be added to the helicopter flight booking company’s network in Japan, this is the largest pre-order for EHang in Malaysia.
The EHang EH216 series includes a two-seat EH216-S AAV for passenger services and aerial sightseeing, as well as an EH216-F model for firefighting and an EH216-L model for aerial logistics.
This aircraft is the first that the company plans to get type certified with the Civil Aviation Administration of China (CAAC).
The eVTOL firm is working on the VT-30, an autonomous lift-plus-cruise winged aircraft that can do longer-range missions than the EH216 multicopter, in addition to the EH216 series.
Electric vertical takeoff and landing aircraft (eVTOL) research is gaining traction. Three-dimensional movement in the sky is intended to reduce travel time and increase convenience for passengers.
Envisioned applications for passenger transportation include usage as air taxis, for emergency response (first-aid, police, rescue), and for leisure activities. As for the transportation of goods, eVTOL would offer larger capacity for freight transport than ordinary drones.
AutoFlight, a global eVTOL pioneer, just published the second and most recent proof-of-concept (POC) film for their air taxi Prosperity I.
New improved lifting propellers allow for increased hover efficiency, while the two pushing propellers on either side of the air taxi have been replaced with a single centre propeller with dual motors to improve cruising capabilities. Prosperity I’s most recent design is quite close to the final version, which will be released later.
Prosperity I was created to facilitate transfers between areas of a city, airport commutes, connecting two close cities, and allowing visits to the countryside while avoiding ground traffic.
Prosperity I is anticipated to cut a trip that takes hours by vehicle to roughly 10 minutes when it is ready for commercial flight in upcoming years, without being any less safe or expensive than a car taxi ride.
Fuelling the growing momentum behind development are advancements in battery and motor technologies along with related control technologies, led by the automotive industry, and autopilot technologies cultivated in the drone industry, as well as technology advancements for reducing aircraft weight with carbon fibre composite materials.
There are two types of take-off and landing areas: one that just accommodates departures and arrivals and another that also includes charging infrastructure. Borrowing technology from other sectors (electric vehicles) is expected to help cut prices for charging equipment.
Tip-jets are a type of compound autogyros that employ a rotor driven by jets at the blade’s tip, propellers for horizontal propulsion, and a wing for lift. High-pressure engine efflux is ejected into a tube called the augmenter by ejector VTOLs, forcing extra ambient air to accelerate through the channel and mix with the engine exhaust.
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December 2021
The overall gross proceeds are estimated to be around $830 million, with roughly $380 million in cash held in trust and $450 million in PIPE1 investment proceeds.
The primary challenge in the development of eVTOL aircraft is the battery. At most, the energy density of the most commonly used lithium-ion batteries is 240 Wh/kg. Even with this present level of battery performance, an eVTOL with a cruising range of many tens of kilometres, such as the Volocopter, could be powered. Among factors that could impede growth, in addition to the difficulties for ensuring safety, there are uncertainties in the external business environment, such as public acceptance and regulations.
Volocopter has been one of the leading manufacturer of the eVTOL Aircrafts in the industrial market developments. The company’s “Volocopter 2X” variant seats two people (one pilot and one passenger), and its form is comparable to that of a tiny general-purpose drone known as a multicopter.
Because it is composed of carbon fibre composite material, the aircraft has a width of roughly 9 m and weighs approximately 290 kg. It flies thanks to 18 tiny rotors powered by lithium-ion batteries. Key aviation electronics, such as equipment for aircraft position control, are supplied by the US company Honeywell. After a successful manned flight in 2016, test flights were conducted in Dubai, UAE, in 2017.
Airbus is working on a one-seater dubbed “Vahana” and a four-seater called “City Airbus.” Vahana successfully completed the first flight of a prototype in 2018, and in February 2019, the news of a successful vertical take-off and landing and level flight achieved during a test flight lasting roughly 7 minutes was made public. As for the City Airbus, it has been reported that the first successful flight was realized in May 2019. The company aims to commercialize Vahana and City Airbus by 2020 and 2023, respectively.
North America
The North American market, particularly the USA, will be one of the prime markets for (EVTOL Aircraft Market) due to the nature of industrial automation in the region, high consumer spending compared to other regions, and the growth of various industries, mainly AI, along with constant technological advancements. The GDP of the USA is one of the largest in the world, and it is home to various industries such as Pharmaceuticals, Aerospace, and Technology. The average consumer spending in the region was $72K in 2023, and this is set to increase over the forecast period. Industries are focused on industrial automation and increasing efficiency in the region. This will be facilitated by the growth in IoT and AI across the board. Due to tensions in geopolitics, much manufacturing is set to shift towards the USA and Mexico, away from China. This shift will include industries such as semiconductors and automotive.
Europe
The European market, particularly Western Europe, is another prime market for (EVTOL Aircraft Market) due to the strong economic conditions in the region, bolstered by robust systems that support sustained growth. This includes research and development of new technologies, constant innovation, and developments across various industries that promote regional growth. Investments are being made to develop and improve existing infrastructure, enabling various industries to thrive. In Western Europe, the margins for (EVTOL Aircraft Market) are higher than in other parts of the world due to regional supply and demand dynamics. Average consumer spending in the region was lower than in the USA in 2023, but it is expected to increase over the forecast period.
Eastern Europe is anticipated to experience a higher growth rate compared to Western Europe, as significant shifts in manufacturing and development are taking place in countries like Poland and Hungary. However, the Russia-Ukraine war is currently disrupting growth in this region, with the lack of an immediate resolution negatively impacting growth and creating instability in neighboring areas. Despite these challenges, technological hubs are emerging in Eastern Europe, driven by lower labor costs and a strong supply of technological capabilities compared to Western Europe.
There is a significant boom in manufacturing within Europe, especially in the semiconductor industry, which is expected to influence other industries. Major improvements in the development of sectors such as renewable energy, industrial automation, automotive manufacturing, battery manufacturing and recycling, and AI are poised to promote the growth of (EVTOL Aircraft Market) in the region.
Asia
Asia will continue to be the global manufacturing hub for (EVTOL Aircraft Market) over the forecast period with China dominating the manufacturing. However, there will be a shift in manufacturing towards other Asian countries such as India and Vietnam. The technological developments will come from China, Japan, South Korea, and India for the region. There is a trend to improve the efficiency as well as the quality of goods and services to keep up with the standards that are present internationally as well as win the fight in terms of pricing in this region. The demand in this region will also be driven by infrastructural developments that will take place over the forecast period to improve the output for various industries in different countries.
There will be higher growth in the Middle East as investments fall into place to improve their standing in various industries away from petroleum. Plans such as Saudi Arabia Vision 2030, Qatar Vision 2030, and Abu Dhabi 2030 will cause developments across multiple industries in the region. There is a focus on improving the manufacturing sector as well as the knowledge-based services to cater to the needs of the region and the rest of the world. Due to the shifting nature of fossil fuels, the region will be ready with multiple other revenue sources by the time comes, though fossil fuels are not going away any time soon.
Africa
Africa is expected to see the largest growth in (EVTOL Aircraft Market) over the forecast period, as the region prepares to advance across multiple fronts. This growth aligns with the surge of investments targeting key sectors such as agriculture, mining, financial services, manufacturing, logistics, automotive, and healthcare. These investments are poised to stimulate overall regional growth, creating ripple effects across other industries as consumer spending increases, access to products improves, and product offerings expand. This development is supported by both established companies and startups in the region, with assistance from various charitable organizations. Additionally, the presence of a young workforce will address various existing regional challenges. There has been an improvement in political stability, which has attracted and will continue to attract more foreign investments. Initiatives like the African Continental Free Trade Area (AfCFTA) are set to facilitate the easier movement of goods and services within the region, further enhancing the economic landscape.
RoW
Latin America and the Oceania region will showcase growth over the forecast period in (EVTOL Aircraft Market). In Latin America, the focus in the forecast period will be to improve their manufacturing capabilities which is supported by foreign investments in the region. This will be across industries mainly automotive and medical devices. There will also be an increase in mining activities over the forecast period in this region. The area is ripe for industrial automation to enable improvements in manufacturing across different industries and efficiency improvements. This will lead to growth of other industries in the region.
