Global eVTOL Aircraft Market 2024-2030

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    • North American and European companies raised approximately USD 1.3 billion investment in air mobility companies to capture the eVTOL market.
    • EVTOLs are increasingly incorporating autonomous and semi-autonomous technologies for safe and efficient operations. Investing in companies that specialize in EVTOL-specific software, navigation systems, and autonomous technologies can be a growth area.
    • Investors are looking for diversified exposure to the EVTOL industry, there are exchange-traded funds (ETFs) and funds focused on the electric aviation sector. 
    • The report also highlights that the demand for urban air mobility is expected to increase significantly in the coming years, which will drive the growth of the eVTOL aircraft market.
    • Some of the key players operating in the market include Airbus SE, Bell Textron Inc., Embraer S.A., Joby Aviation, Kitty Hawk Corporation, Lilium GmbH, Pipistrel d.o.o., Volocopter GmbH, and others.
    • EVTOL aircraft will be positioned as sustainable and environmentally friendly transportation options. A focus on reducing emissions, noise pollution, and energy consumption will remain a core theme.
    • Regulatory agencies will continue to develop and refine standards for EVTOL operations and safety. Governments will work closely with industry stakeholders to ensure the safe integration of EVTOL aircraft into urban airspace.
    • The key challenges facing the market include lack of ground infrastructure, lack of battery technology, pilot certification, manufacturing, funding, and regulatory frameworks.
    •  There is a need for developing advanced detection and collision avoidance systems to ensure safe operation of eVTOL aircraft.
    • EVTOL manufacturers must meet stringent safety and certification standards, which are essential for gaining public trust and regulatory approval. Developing redundancy systems, reliable electric propulsion, and robust fail-safes is a major technical challenge.



    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:

    • Electric Propulsion: EVTOL aircraft are powered by electric motors and batteries, making them more environmentally friendly and potentially quieter than traditional helicopters or small fixed-wing aircraft.
    • Vertical Takeoff and Landing: EVTOL aircraft have the capability to take off and land vertically, eliminating the need for lengthy runways. This feature allows for more flexibility in terms of where these aircraft can operate, including in urban areas.
    • Urban Air Mobility (UAM): Many EVTOL aircraft are being developed with the intention of serving as part of a larger urban air mobility network. They are designed to transport passengers and goods within cities and urban areas to alleviate traffic congestion.
    • Autonomous and Semi-Autonomous Operation: Some EVTOL aircraft are being developed with autonomous or semi-autonomous capabilities, which can help enhance safety and reduce the need for highly skilled pilots.


    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.


    infographic: Evtol Aircraft Market, Evtol Aircraft Market Size, Evtol Aircraft Market Trends, Evtol Aircraft Market Forecast, Evtol Aircraft Market Risks, Evtol Aircraft Market Report, Evtol Aircraft Market Share


    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



    S No Overview of Development Development Detailing Region of Development Possible Future Outcomes
    1 Kenya Airways partners with Embraer on eVTOL air taxi Fahari Aviation, a subsidiary of Kenya Airways (KQ, Nairobi Jomo Kenyatta), signed a Memorandum of Understanding with Eve Urban Air Mobility Solutions, a unit of Embraer (EMB, Sao Jose dos Campos), to develop an electric vertical-take-off-and-landing (eVTOL) network in Kenya. Kenya This would enhance better EV battery Technologies and Shuttle production
    2 Brazil’s Azul Joins Carriers Planning eVTOL Service Brazil’s Azul became the latest airline to announce plans for eVTOL aircraft operations, placing a provisional order for 220 of Lilium’s seven-seat Lilium Jet. The deal is valued at $1 billion, implying a $4,5 million unit price for the all-electric Lilium Jet. EU This would bring up new options of production for Nissan presence as an EV Mobility solutions for commercial requirements.
    3 Volocopter Flies 2X eVTOL Prototype at Oshkosh Volocopter made the first FAA-approved flight of a manned, eVTOL aircraft in a public environment in the U.S. during the EAA AirVenture show in Oshkosh, Wisconsin USA Better Mobility and presence across various nations



    SI No Timeline Company Developments

    March 2022




    Germany-based Lilium has inked an agreement with NetJets Inc., the world’s largest private jet firm, to purchase up to 150 eVTOL craft for commercial use. Lilium planes would be designed to fly four to six passengers under the agreement, and NetJets would sell them to clients in the US and Europe under shared ownership arrangements.
    2 February 2022 Textron Global aerospace company Textron has announced an agreement to purchase Pipistrel. The acquisition will allow the Pipistrel team to accelerate the development and certification of electric and hybrid-electric aircraft by tapping into Textron’s resources, technical and regulatory expertise, and a global aircraft sales and support network.
    4 December 2021 Joby With the INRAS Acquisition, Joby advances its work on EVTOL Radar. The Austrian firm has been assisting its new American owner in the development of a unique radar system for its four-passenger eVTOL aircraft.



    SI No Timeline Company Developments
    1 December 2021 Volocopter Volocopter partnered with NEOM in order to create the world’s first public eVTOL mobility system in Saudi Arabia.
    2 November 2021 Airbus Airbus partnered with Thales and Diehl Aerospace in order to develop the flight control computers of City Airbus NextGen.
    3 October 2021 Volocopter Volocopter and Osaka Roundtable have been partnered to bring the united air mobility(UAM) to Japan.
    4 September 2021 Joby Aviation Joby Aviation collaborated with NASA in order to measure the Noise Footprint of Electric Air Taxi.
    5 September 2021 EHang EHang and HELI-EASTERN have been partnered to develop Urban Air Mobility Operations in Shenzhen.
    6 July 2021 EHang Ehang has partnered with Globavia in order to co-develop the Urban Air Mobility in Iberian Peninsula and in Latin America.


    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.

    Infographic: Global Evtol Aircraft Market, Global Evtol Aircraft Market Size, Global Evtol Aircraft Market Trends,  Global Evtol Aircraft Market Forecast,  Global Evtol Aircraft Market Risks, Global Evtol Aircraft Market Report, Global Evtol Aircraft Market Share

    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.


    eVTOL Aircraft Market By Vehicle Infrastructure Type

    • Light Commercial Aircraft
    • Heavy Commercial Aircraft
    • Passenger based Aircraft
    • Cargo Based Multi Model Aircraft


    eVTOL Aircraft Market By Application

    • Heavy Commercial Application
    • Moderate Commercial Application
    • Cargo Based Application
    • Passenger Based Application
    • Multi Integrated Application


    eVTOL Aircraft Market By Class of Propulsion

    • Electric based Commercial Aircraft
    • Special Fuel Hybrid based Commercial Aircraft


    eVTOL Aircraft Market By Construction Type

    • Fixed Wing Aircraft
    • Rotary Wing Aircraft
    • Delta Wing Aircraft


    eVTOL Aircraft Market By Construction Fitting Capability 

    • Line Fit Capability
    • Retrofit Capability


    eVTOL Aircraft Market By Regional Classification

    • North America
    • Europe
    • China
    • Asia, ex China
    • ROW



    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.



    SI No Timeline Company Developments
    1 December 2021 EHang EHang launched the fifth generation Air Mobility Experience Centre in Guangzhou.
    2 December 2021 EHang EHang secured an order for the delivery of its VT-30 and to conduct the EH216 Demo Flights in Japan.
    3 November 2021 Volocopter Volocopter completed the testing of the first ever crewed public Air Taxi Test Flight in South Korea.
    4 September 2021 Airbus Airbus launched the next generation of  City Airbus in order to develop the United Air Mobility System.
    5 July 2021 Joby Aviation Joby Aviation, a developing all-electric aircraft for commercial vehicles, has announced that they are making its step towards building the first eVTOL airline.
    6 April 2021 Volocopter Volocopter decided to bring the electric Air Taxis to the China cities.
    7 January 2021 Volocopter Volocopter is set to bring their electric air taxi to the American Market.
    8 January 2021 EHang EHang decided to provide the United Air Mobility (UAM) services in Hengqin New Area in Zhuhai, China.


    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.



    SI No Timeline Company Developments



    December 2021

    Eve Air Mobility Embraer’s electric aircraft unit, Eve Air Mobility, combined with SPAC Zanite Acquisition. After the transaction, Embraer will own 82 percent of the resultant company’s shares, valuing Eve at $2.4 billion.
    2 30 March Lilium Lilium and Qell Acquisition Corp have announced a SPAC merger.

    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.


    4 February 2021 Joby Joby merged with Reinvent Technology Partners,As part of the deal, Joby will get $1.6 billion in cash, $690 million of which will come from Reinvent’s cash in trust and $835 million from private investors The Baupost Group,



    SI No Timeline Company Updates
    1 2021-9M Airbus The revenue of Airbus at the end of nine months was €35.1 billion and in the previous year the revenue was €30.16 billion.
    2 Q3-2021 Wheels UP At the end of the third quarter the revenue of Wheels UP was $301.9 million and in 2020 the revenue was $194.7 million.
    3 Q3-2021 EHang The total revenue of EHang at the end of the third quarter was $12.96 million and in the previous quarter the revenue was $12.1 million.
    4 December 2021 JobyAviation Joby Aviation completed the acquisition of Radar Developer Inras GmbH.
    5 January 2021 Wheels UP Wheels UP completed the acquisition of Mountain Aviation which is an aircraft charter company.


    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.





    1. What are the key drivers of growth in the global EVTOL aircraft market?
    2. What are the major challenges facing EVTOL aircraft adoption in urban air mobility?
    3. What role do EVTOLs play in reducing carbon emissions and addressing environmental concerns?
    4. What safety measures are being implemented to address concerns about EVTOL air traffic management and collision avoidance?
    5. What are the investment opportunities and challenges in the EVTOL market?
    6. What is the outlook for EVTOL affordability and accessibility for a wider range of passengers?
    7. How are EVTOLs expected to integrate with other modes of transportation, including ride-sharing services and public transit?
    8. What are the potential use cases for EVTOLs beyond urban air mobility, such as cargo delivery or emergency services?
    9. How are EVTOL companies addressing the public perception and acceptance of these aircraft?
    10. What are the implications of EVTOL adoption for the energy sector, and how can sustainable energy sources be utilized for charging?
    Sl no Topic
    1 Market Segmentation
    2 Scope of the report
    3 Insights on Market
    4 Research Methodology
    5 Executive Summary
    6 Introduction
    7 Historical Development in the industry
    8 Understanding eVTOL Technology
    9 Key Drivers of the market
    10 Technological trends and Infrastructure Development of eVTOL
    11 Environmental and Sustainability Impact
    12 Recent Production and Patent Milestones
    13 Investment and Funding to the emerging eVTOL market
    14 Regulatory Landscape and International Guidelines
    15 Challenges in the Product type Market
    16 Challenges to enter into Another Market Troposphere
    17 Market Segmentation, Dynamics and Forecast by Vehicle Infrastructure, 2024-2030
    18 Market Segmentation, Dynamics and Forecast by Propulsion, 2024-2030
    19 Market Segmentation, Dynamics and Forecast by Application, 2024-2030
    20 Market Segmentation, Dynamics and Forecast by Construction, 2024-2030
    21 Market Segmentation, Dynamics and Forecast by Region, 2024-2030
    22 Competitive Landscape
    23 M&A in past 12 months
    24 Growth strategy of leading players
    25 Market share of vendors, 2023
    26 Company Profiles
    27 Unmet needs and opportunity for new suppliers
    28 Conclusion
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