Electric Aircraft Market Witness the Growth of $27.7 Billion by 2030

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Electric Aircraft Market Report by Industry,
Trend and Global Forecast (2021-2030) 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 during
the forecast period. The growth of this market
is mainly driven by the deployment of urban air
mobility aircraft and the increasing use of
electric aircraft for cargo applications and
different aerial mission-specific activities. It
discusses industry and technology trends
currently prevailing in the market, along
with drivers,
restraints, opportunities
challenges, and that influence the
growth of the market. The electric aircraft
market is dominated by a few globally established
players such as Airbus SE (Netherlands), Elbit
Systems Ltd. (Israel), and AeroVironment, Inc
(US). Download PDF Brochure _at_ https//www.marketsa
ndmarkets.com/pdfdownloadNew.asp?id52646445 Based
on platform, 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. 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. 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
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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. 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. 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
2030 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.marke
tsandmarkets.com/requestsampleNew.asp?id52646445
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