The eVTOL aircraft market size was valued at USD 0.76 billion in 2024 and is projected to reach USD 4.67 billion by 2030, at a compound annual growth rate (CAGR) of 35.3% from 2024 to 2030 and is projected to grow from USD6.53 billion in 2031 to 17.34 billion by 2035 at a CAGR of 27.6 % from 2031 to 2035, according to the latest research from MarketsandMarkets.
“In terms of volume, the eVTOL aircraft market is projected to grow from 367 units in 2024 to 5,280 units in 2035,” says the report. “The air taxi segment is projected to be the largest segment of the eVTOL aircraft market as it addresses both urban mobility challenges and is an evolving requirement from passengers. With accelerating megacities and rapid global urbanization, air taxis have become a perfect solution for improving congested transportation. It provides quick point-to-point connectivity for traveling people and passengers. They are uniquely positioned to fill the gap between existing ground-based transportation and traditional aviation, providing an on-demand, scalable alternative. One of the principal drivers for air taxis is their ability to fit well in multimodal networks, providing convenient connectivity between cities, airports, and suburbs. Companies like Uber Elevate and Lyft have entered into partnerships to enable customers to access air taxis more easily.
“North America is poised to lead the market for eVTOL aircraft because of the combination of advanced aerospace innovation, early commercialization efforts, and strong government and private-sector investment. It is an ecosystem of manufacturers, research institutions, and supply chains that will be driven in large part by companies such as Joby Aviation (US), Archer Aviation (US), and BETA Technologies (UK) (sic) in spearheading development and commercialization. The concentration of talent and resources in the region places it as the global leader in shaping the eVTOL industry.”
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