Electric Aircraft Market Growth Analysis and Forecast to 2030

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Electric Aircraft Market Growth Analysis and
Forecast to 2030 with Drivers, Restraints,
Challenges Opportunities The report on the
Electric 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 electric aircraft 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. Download PDF
Brochure _at_ https//www.marketsandmarkets.com/pdfdo
wnloadNew.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 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.
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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. 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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