The eVTOL Aircraft market is valued at USD 0.76 billion in 2024 and is projected to reach USD 4.67 billion by 2030, at a CAGR of 35.3 % from 2024 to 2030
The European eVTOL Aircraft market is expected to grow at a robust pace in the coming years. The increasing need for green energy and soundless aircraft, coupled with greater utilization of eVTOL aircraft for cargo purposes and greater demand for an alternative mode of transportation, are drivers of this market growth. Electrically propelled urban air mobility vehicles, eVTOLs, have zero-emissions, placing them in a good position compared to the majority of the existing ground and air vehicles, which still operate on fossil fuels.
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Recent Developments
Volocopter GmbH, a German maker of aircraft and an urban air mobility pioneer, has scheduled to provide the world's first-ever eVTOL suite of services via passenger air taxis and heavy-lift freight drones in the period between 2024 and 2026. Moreover, in March 2022, Jetex and Volocopter signed a strategic partnership agreement to establish a safe and sustainable model of urban air mobility. The partnership was established to deploy and run permanent, economically sustainable, and integrated UAM taxi 'takeoff and landing infrastructure and passenger transportation services.
Wisk Aero was funded with $450 million by The Boeing Company in January 2022 to further develop Wisk's sixth generation eVTOL aircraft. It also helps the company as it transitions into an aggressive growth phase in anticipation of introducing scale manufacturing.
The Rise of Electric-Propulsion-Based eVTOL Aircraft
The aviation industry is one of the fastest-growing sources of greenhouse gas emissions, contributing to Europe's climate change. The development of
Furthermore, Jetson AB, a Swedish eVTOL firm, completed the sale of the whole production of their eVTOL aircraft in 2022 and has an order of 100 units with delivery set to begin in 2023, along with over 3,000 pre-orders for additional deliveries.
Increasing Adoption of Air Taxis as Urban Air Mobility Increases
Due to recent technological advances in urban air mobility, several cities are projected to adopt a new generation of transportation using eVTOL aircraft. To escape traffic, eVTOL aircraft are best suited for shorter flights across busy cities. The aircraft also aid in middle- and last-mile goods delivery, as well as medical services. As a result, the use of air taxis is increasing. The urban air mobility sector is in its early stages, which is projected to promote air taxi usage in the coming years. Toyota invested $394 million in Joby Aviation eVTOL Aircraft in the first quarter of 2020.
Lack of infrastructure certification in Aviation
The commercialization of eVTOL travel options necessitates the creation of infrastructure such as skyports, charging stations, and others. The initial cost of such infrastructure is quite costly, and development takes time, which is expected to limit market growth. Furthermore, demanding certifications of aviation agencies such as the Federal Aviation Administration (FAA) and the European Union Aviation Safety Agency (EASA) for eVTOL designs are projected to stymie industry expansion.
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Market Segmentation
Key players in the European eVTOL aircraft market include established aircraft manufacturers like Airbus, along with companies like Lilium, Volocopter, and EHang, which are pioneering urban air mobility solutions.
Company Profiles
Airbus Group, Inc., Bell Textron Inc., Boeing, Eve Air Mobility, Lilium GmBH, EHang Virtual Technology Co. Ltd, BETA Technologies Inc., Volocopter GmbH, Archer Aviation Inc. and Heart Aerospace AB are the key players developing advanced technologies to stay competitive in the market and enhancing their product portfolio in the regions to increase their customer outreach.
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Attribute |
Details |
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Base Year |
2022 |
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Historical Years |
2018 – 2021 |
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Estimated Year |
2023 |
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Forecast Period |
2024 – 2030 |
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Quantitative Units |
Revenue in USD Billion, Volume in Units, and CAGR for 2018-2022 and 2023-2030 |
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Report Coverage |
Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
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Segments Covered |
By Application By Propulsion Type By Lift Technology By Operation mode By Range Region |
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Regional Scope |
Europe |
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Country Scope |
Germany, Russia, France, Spain, Italy, United Kingdom, Switzerland, Netherlands, Belgium and Austria. |
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Key Companies Profiled |
Airbus Group, Inc., Bell Textron Inc., Boeing, Eve Air Mobility, Lilium GmBH, EHang Virtual Technology Co. Ltd, BETA Technologies Inc., Volocopter GmbH, Archer Aviation Inc. and Heart Aerospace AB. |
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Customization Scope |
10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
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Delivery Format |
PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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