Electric Aircraft Market worth $27.7 billion by 2030 at a CAGR of 14.8%

1
Electric Aircraft Market worth 27.7 billion by
2030 at a CAGR of 14.8 The report "Electric
Aircraft Market by PLatform (Regional Transport
Aircraft, Business Jets, Light Ultralight
Aircraft), Type, System (Batteries, Electric
Motors, Aerostructures, Avionics, Software),
Technology, Application, and Region - Forecast to
2030", is estimated to be USD 7.9 billion in
2021 and is projected to reach USD 27.7 billion
by 2030, at a CAGR of
14.8 period. market
during the forecast The growth of this is
mainly driven by
the deployment of urban air
mobility increasing
aircraft and the use of electric
aircraft for cargo applications and different
aerial mission- specific activities. Browse 157
market data Tables and 37 Figures spread through
197 Pages and in- depth TOC on "Electric Aircraft
Market Global Forecast to 2030" Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.asp?id52646445 Key Market Players The
major players in the electric aircraft market
include Airbus SE (Netherlands), Elbit Systems
Ltd. (Israel), and AeroVironment, Inc (US), These
players have spread their business across
various countries includes North America,
Europe, Asia Pacific, Middle East, Africa, and
Latin America. COVID-19 has impacted their
businesses as well. The sudden outbreak of the
COVID-19 has taken a toll on various industrial
sectors, with aviation being one of the worst
affected. However, the electric aircraft market
did not seem to have been impacted by the
pandemic as much as the aviation industry as a
whole. Electric UAVs were widely used by
militaries for a variety of missions like border
security, while governments and law enforcement
agencies used them on an experimental
basis. Civil commercial applications of
electric aircraft include transportation of
medical supplies by companies like Zipline and
mostly for aerial photography. Retail and other
logistics companies are increasingly looking
towards the usage of electric UAVs to
2
distribute essential items due to intermittent
lockdowns and the imposition of social distancing
protocols worldwide. In the US, companies like
Amazon and USP have already scaled up their usage
of electric drones for their deliveries. Electric
drones are also witnessing an increased
application in Africa, as they are being used as
the art of EMS services to supply medicines and
amenities as well as transport organs and blood
across cities. These factors have helped the
electric aircraft market to sustain the overall
impact of the COVID-19 pandemic on the global
economy. Increasing adaptability of the latest
technologies by civil and commercial end users is
expected to fuel the growth of the light
ultralight aircraft market during the forecast
period. The light ultralight aircraft segment
is expected to grow the largest, based on
platform of electric aircraft. Various
technological advancements and aircraft
modernization programs are expected to boost the
market for electric aircraft. Low noise electric
UAVs are increasingly adopted in civil and
military applications. An increase in corporate
activities and the need for aircraft with low
carbon footprints are to drive demand for
electric aircraft. The Hybrid wing segment is
projected to witness the highest CAGR during the
forecast period. Based on type, the rotary wing
segment is projected to be the highest CAGR rate
for the electric aircraft market during the
forecast period. The evolution in the missions
complexity of both military aircraft and unmanned
aerial vehicles (UAVs) and the increase in
civilian air traffic, with limited runways, will
lead to increasing adoption of these wing
type. The battery segment is projected to
witness the highest CAGR during the forecast
period. Based on the system, the battery segment
is projected to grow at the highest CAGR rate for
the electric aircraft market during the forecast
period. Batteries are the most common onboard
energy storage components of electric aircraft
due to their relatively high storage capacity.
Modern batteries are mostly rechargeable and are
lithium- based. Advancements in battery power
density would be the driving factor for this
segment The VTOL segment is projected to witness
the highest CAGR during the forecast period Based
on the technology, the VTOL segment is projected
to grow at the highest CAGR rate for the aircraft
landing gear 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.
3
The Civil segment is projected to witness the
highest CAGR during the forecast period Based on
application, the Civil segment is projected to
grow at the highest CAGR rate for the aircraft
landing gear market during the forecast period.
As urban planners, public transit agencies, and
walking and biking advocates work to steer cities
away from a future congested with cars and
as others discuss ethics, realities, and
regulations of autonomous vehicles,
increasing developments in urban mobility
applications will drive this segment. The North
American market is projected to contribute the
largest share from 2021 to 2026 Electric 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
34.3 of the electric aircraft market and is
expected to grow at a CAGR of 16.1 during the
forecast period. The US has the largest
UAV fleet used in military and civil
applications. Early adoption of electric 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/requestsampleNew
.asp?id52646445 About MarketsandMarkets Marketsa
ndMarkets provides quantified B2B research on
30,000 high growth niche opportunities/threats
which will impact 70 to 80 of worldwide
companies revenues. Currently servicing 7500
customers worldwide including 80 of global
Fortune 1000 companies as clients. Almost 75,000
top officers across eight industries worldwide
approach MarketsandMarkets for their
painpoints around revenues decisions. Marketsand
Marketss flagship competitive intelligence and
market research platform, "Knowledgestore"
connects over 200,000 markets and entire value
chains for deeper understanding of the unmet
insights along with market sizing and forecasts
of niche markets. Contact Mr.Aashish Mehra
MarketsandMarkets INC. 630 Dundee Road Suite
430 Northbrook, IL 60062 USA 1-888-600-6441