Electric Aircraft Market Analysis 2022-2026: North America to Dominate Market Growth
The electric aircraft market share will post an incremental growth of USD 6.44 billion, progressing at a CAGR of 13.6% during the forecast period. The increasing requirement for clean and quiet aircraft will offer immense growth opportunities to market vendors. The electric aircraft market is fragmented, and the vendors are deploying growth strategies such as low-pricing strategies and strengthening the local customer base to compete in the market.
Technavio’s report on “Electric Aircraft Market by Technology and Geography - Forecast and Analysis 2022-2026” provides a detailed analysis of the prevalent market forces, trends, and challenges likely to impact the market in focus.
The electric aircraft market is segmented by technology (hybrid and all electric) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
The growth of the electric aircraft market size in the hybrid segment will be significant during the forecast period. Heavy penalties on stringent noise regulations have encouraged the adoption of electric aircraft, which will facilitate the electric aircraft market growth in North America. 44% of the market's growth will originate from North America during the forecast period. The US is the key market for electric aircraft in North America.
The increasing requirement for clean and quiet aircraft will directly influence the sales of the electric aircraft market. In addition, the use of advanced techniques for aircraft construction is one of the major electric aircraft market trends that will positively impact the market growth. However, limitations of existing battery technology will hamper the electric aircraft market growth.
The market is fragmented due to the presence of several players. Some of the major electric aircraft market vendors are Airbus SE, Bye Aerospace Inc., DBT Aero Inc., Delorean Aerospace LLC, DIGISKY srl, E-PROPS, Equator Aircraft AS, Evektor spol. sro, Eviation Aircraft, Gust Inc., Joby Aviation Inc., Lilium GmbH, PIPISTREL doo, Schempp-Hirth Flugzeug-Vertriebs GmbH, Siemens AG, The Boeing Co., Volta Volare, Watt Flight, Wright Electric, and Zunum Aero
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Download the Free PDF sample report for highlights on the market size, growth momentum, regional growth opportunities, vendor analysis, and other factors influencing the growth of the market.
Precise market size estimation during the forecast period 2022-2026.
CAGR of the electric aircraft market forecast during 2022-2026.
Market-level data on units, average selling prices, and values of the electric aircraft market share.
Prediction on the upcoming trends, drivers, and factors that challenge the growth of the electric aircraft market.
Electric aircraft market industry growth across North America, Europe, APAC, South America, and Middle East and Africa.
