According to a new market intelligence report published by California-based market intelligence company BIS Research, the eVTOL aircraft market is estimated to be approximately $524-million (€471.7-million) by 2025 and is projected to reach $1.9-billion (€1.7-billion) by 2035, in terms of value.
Lilium Jet
Lilium’s seven-seat eVTOL is targeting a cruise speed of 175 mph (300 km/h) at 10,000 feet and a range of over 155 miles (250 km). Image: Lilium
Designed with urban use in mind, electric and hybrid-electric powered vertical takeoff and landing (eVTOL) aircraft require a specific set of systems. These systems must enable on-demand, safe, highly automated, passenger, and cargo-carrying air transportation services in a metropolitan environment.
In April 2019, Munich-based drone startup Lilium announced it was seeking regulatory safety approval for its eVTOL aircraft, which it had unveiled a few months earlier at the 2018 Digital-Gipfel conference in Nuremberg.
The report, titled "Global Electric VTOL (eVTOL) Aircraft Market - Analysis and Forecast, 2025-2035", says that the market is anticipated to witness a growth rate of 13.75% during the forecast period from 2025 to 2035 which will be further aided by factors such as increasing road traffic congestion in urban areas and a growing need for faster and efficient transportation.
The technological framework of eVTOL aircraft includes system architecture, battery operations, charging technology, software development, ground and air operation, and certifications, among others. The vehicles need to be manufactured at a large scale so that they create new opportunities and benefits through advanced aircraft.
Skyports require a large amount of power, in turn, generating business for utility companies, whereas a growing need for new infrastructure is expected to create opportunities for the real estate industry. The manufacturers are continuously taking initiatives to develop various innovative infrastructural concepts, such as better connectivity, better tracking systems, and almost every vertiport in the coming future which is expected to have charging stations.
According to Sudheer Uniyal, Lead Analyst at BIS Research, "The US is one of the most prominent countries with a considerable potential for the growth of the global eVTOL aircraft market. In 2025, the US is expected to dominate the global eVTOL aircraft market, acquiring the maximum market share."
"However, the geographical analysis of this market unveils an immense potential for its growth in the Asia-Pacific region as well. China is expected to acquire the largest market share, and Singapore is expected to witness the highest growth rate in this region during the period 2025-2035. Similarly, the Europe market is also likely to witness numerous growth opportunities during the forecast period," continued Uniyal.
The report takes a look at the recent trends influencing the emerging market, and examines future trends and developments in technology. The report also includes a comprehensive section on the region-wise analysis, including country analysis for more than ten different countries.
The full BIS Research report can be viewed here: "Global Electric VTOL (eVTOL) Aircraft Market - Analysis and Forecast, 2025-2035".
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