According to a market research report by MarketsandMarkets, the eVTOL Aircraft Market is projected to projected to reach USD 30.8 Billion by 2030, at a compound annual growth rate (CAGR) of 15.3%.
“The increasing need for environmentally sustainable modes of transportation and low noise aircraft to be one of the key drivers for the market,” say the report authors. “The market is witnessing adoption in cargo applications, for instance last mile deliveries and transportation of medical supplies.
“Lift Technologies: The report identifies three primary lift technologies employed by eVTOL aircraft: vectored thrust, multirotor, and lift plus cruise. These technologies offer varying degrees of maneuverability, efficiency, and range, catering to different application requirements.
“Propulsion Systems: The market analysis highlights two main types of propulsion systems: electric battery and electric hydrogen. As battery technology advances and hydrogen infrastructure develops, these propulsion systems are expected to play a pivotal role in powering eVTOL aircraft, providing longer flight ranges and shorter refueling times.
“Applications: eVTOL aircraft find applications in various sectors, including passenger transportation, cargo delivery, emergency medical services, and military applications. The versatility of these aircraft opens up new possibilities for faster, more efficient transportation and logistics, with potential savings in time and costs.
“Regional Outlook: The market for eVTOL aircraft is witnessing significant growth across different regions, including North America, Europe, Asia Pacific, and the Rest of the World. The report analyzes the market dynamics, regulatory landscape, and key players in each region, providing valuable insights for stakeholders and investors.
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