Authored By: Sarah
17 Nov 2023

eVTOL Aircraft Market to witness market advancement by USD USD 5.43 Bn at a CAGR of 39.53% through 2022 and 2027

The EVTOL aircraft market is segmented by application (cargo and passengers), technology (lift plus cruise, multirotor, and vectored thrust), and geography (Europe, North America, APAC, Middle East and Africa, and South America). A compound annual growth rate (CAGR) of 39.53% is predicted for the eVTOL aircraft market, which will grow by USD 5.43 billion between 2022 and 2027. The development of drone infrastructure is the major EVTOL aircraft market trend which will positively influence the market value. 

eVTOL Aircraft Market Outlook 2027 

  • The EVTOL aircraft market share will value over USD 5.43 billion through 2023 - 2027. 

  • It is estimated to expand at a CAGR of 39.53% from 2022 to 2027. 

  • The EVTOL aircraft market size will witness a YOY growth rate of 33.01% in 2023. 

Get a peek into the eVTOL Aircraft Market Analysis - Europe, North America, APAC, Middle East and Africa, South America - US, China, Germany, France, UK. Unlock the Sample Report The report includes historical market data from 2017 to 2027. 

evtol aircraft market size, evtol aircraft market share, evtol aircraft market analysis, evtol aircraft market trend analysis Snapshot of eVTOL Aircraft Market Analysis


Development of Drone Infrastructure Will Fuel Market Growth: In many applications, including wireless coverage, remote sensing, transportation of commodities, search and rescue, precision agriculture, security and surveillance, and inspection of civic infrastructure, drones are being used extensively. They can provide medical supplies to locations that might not otherwise be accessible and issue timely disaster alerts.

Increasing Requirement for Clean and Quiet Aircraft to Drive Market Growth:There are no aircraft noise levels produced by EVTOL aircraft because their engines don't make the noises that are associated with jet or combustion engines. Therefore, during the projected period, these factors will support the expansion of the electric vertical take-off and landing (eVTOL) aircraft market.

eVTOL Aircraft Market Players

Some of the major EVTOL aircraft market vendors are: 

  • Airbus SE
  • ARC Aerosystems
  • Archer Aviation Inc.
  • BETA Technologies Inc.
  • EHang Holdings Ltd.
  • Elbit Systems Ltd.
  • Elroy Air
  • Embraer SA
  • Joby Aviation Inc.
  • Karem Aircraft Inc.
  • Moog Inc.
  • SkyDrive Inc.
  • Textron Inc.
  • The Boeing Co.
  • Urban Aeronautics

Technavio's research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. Download our best-selling sample report on eVTOL Aircraft Market 

Key Takeaways 

  • The operating power and heat management challenges are the major hindrances for market players 

  • The EVTOL aircraft market structure is fragmented in nature. 

  • 39% of the EVTOL aircraft market growth will develop from North America. 

  • The market growth by the cargo segment will be significant during 2023-2027.

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