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eVTOL market growth expected to be 35.6% CAGR 2024-2028

Insight Partners has released a press release reporting that according to its latest market study on “eVTOL Aircraft Market Forecast to 2028” the market size is expected to grow from USD 519.81 million in 2024 to USD 1,756 million by 2028 – an anticipated growth rate of 35.6% CAGR.

“The eVTOL aircraft market” the press release says “is currently developing and has not been commercialized yet. However, the developments across the eVTOL aircraft market are rapidly growing as many companies involved in the manufacturing and production of eVTOL aircraft are majorly focusing on testing and certifications of their eVTOL products to cater to the growing market demand. Moreover, a few vendors have already grabbed major contracts from different customers to gain early mover advantages in the booming market.

“According to the market analysis, Europe is expected to account for the largest market share in the eVTOL aircraft market by 2024. This is driven by countries such as Germany and France that are investing heavily in the development and procurement of advanced eVTOL systems for commercial operations.

“The eVTOL aircraft market is segmented into lift technology, propulsion type, application, and operation mode. Based on lift technology, the eVTOL aircraft market is segmented into multirotor, lift plus cruise, vectored thrust, and others. Based on propulsion type, the market is segmented into hybrid, fully electric, and electric hydrogen. Based on application, the market is categorized into air taxi; cargo transport; last mile delivery; critical missions; inspection, surveying, and mapping; and others. Based on operation mode, the eVTOL aircraft market is segmented into piloted, optionally piloted, and autonomous.

“The top five players expected to dominate the global eVTOL aircraft market in 2024 include Lilium GmbH, EHang, Eve Air Mobility, Joby Aviation, and Volocopter GmbH. Several other important market players were studied and analysed during the course of this market research study to get a holistic view of the market and its ecosystem. The eVTOL aircraft market report provides detailed market insights, which helps the key players strategize their growth.”

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(Image: Volocopter)

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