eVTOL Aircraft Market worth $30.8 billion by 2030 at a CAGR of 15.3%

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eVTOL Aircraft Market worth 30.8 billion
by 2030 at a CAGR of 15.3 The report on the
eVTOL Aircraft Market provides a detailed trend
analysis from 2017 to 2030. It discusses industry
and technology trends currently prevailing in the
market, along with drivers, restraints,
challenges, and opportunities that influence the
growth of the market. The global market for eVTOL
aircraft is estimated to be USD 8.5 billion in
2021 and is projected to reach USD 30.8
billion by 2030, at a CAGR of 15.3 during the
forecast period. The growth of this market is
driven by the need for green
mainly growing energy aircraft
and noise-free and the
increasing use of eVTOL
aircraft for applications
cargo and
increasing demand for an alternative mode of
transport. Download PDF Brochure
_at_ https//www.marketsandmarkets.com/pdfdownloadNew
.asp?id28054110 Based on the lift technology,
the multirotor segment is estimated to lead the
market during the forecast period, with a share
of 79 in 2021. Multirotors are increasingly used
in an array of applications, from passenger
transport, emergency services to recreational
activities like aerial photography. The lift plus
cruise segment is expected to grow at the highest
rate during the forecast period as leading
manufacturers in the eVTOL market are adopting
the lift plus cruise technology as it is less
complex and enables long-range travel with
stability. Based on propulsion type, the hydrogen
electric segment is projected to be the highest
CAGR rate for the eVTOL aircraft market during
the forecast period. Hydrogen fuel cells are an
alternative power source for eVTOL. Generating
electricity from hydrogen and oxygen fuel cells
is vibration-free and is low on maintenance. Fuel
cells can offer energy storage and faster
refueling, giving them the potential to
substitute electric batteries.
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Based on the system, the software segment is
projected to grow at the highest CAGR rate for
the eVTOL aircraft market during the forecast
period. Aviation software produces insights that
enable users to enhance operator safety and
efficiency, reduce operational disruptions,
improve passenger experience, and make decisions
better regarding real-time fleet health.
Advanced software systems are required to
run complicated systems of urban air mobility
aircraft. Based on the mode of operation, the
piloted segment is projected to grow at the
highest CAGR rate for the eVTOL aircraft market
during the forecast period. Large deployment in
civil applications, including air taxi and ems
services, will drive this segment. Most of the
civil eVTOL aircraft are designed for urban air
mobility, air taxis, medical assistance, and
personnel passenger transportation. Based on
application, the last mile delivery segment is
projected to grow at the highest CAGR rate for
the eVTOL aircraft market during the forecast
period. The demand for autonomous last mile
delivery is skyrocketing with the rising adoption
of autonomous vehicles for the delivery of
products without any human intervention. Based on
MTOW, the 100-1,000 kg segment is projected to
grow at the highest CAGR rate for the eVTOL
aircraft market during the forecast period. eVTOL
aircraft with an MTOW of 100 -1,000 kg are
used for intercity travel of passengers and
cargo transportation. The payload that these
eVTOL aircraft carry is less than 200 kg. Thus,
these aircraft are preferably used for cargo
transportation. Based on range, the gt200 km
segment is projected to grow at the highest CAGR
rate for the eVTOL aircraft market during the
forecast period. eVTOL aircraft with a range of
gt200 km have higher battery capacity. Some of the
applications of this aircraft include last mile
delivery, air taxis, and private transport. eVTOL
aircraft market in North America is projected to
hold the highest market share during the forecast
period. North America accounted for the largest
share of 34.5 of the eVTOL aircraft market and
is expected to grow at a CAGR of 17.0 during the
forecast period. The US has the largest
UAV fleet used in military and civil
applications. Early adoption of eVTOL aircraft
for urban air mobility is also being witnessed in
the US. These factors are expected to drive the
market in North America. Ask for Sample Report
_at_ https//www.marketsandmarkets.com/requestsample
New.asp?id28054110
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